As Productivity Drops, Will AFAs Rise?: The Morning Minute
The news and analysis you need to start your day.
January 19, 2023 at 06:00 AM
4 minute read
Want to get this daily news briefing by email? Here's the sign-up.
|
WHAT WE'RE WATCHING
EXPLORING ALTERNATIVES - It's the most wonderful time of the year: when legal industry watchers begin predicting the rise of alternative fee arrangements! And while those predictions typically fail to pan out, this year there are some unique reasons why AFAs may finally be able to gain a foothold. As Law.com's Andrew Maloney reports, pandemic surge in demand followed by an historic drop in productivity have set the stage in 2023 for a shift toward pricing that emphasizes value instead of time, some analysts say. "I think this is the perfect time to be looking at this because many firms report that their hours in early 2023 are concerningly weak, and firms only have so much control on generating demand," Kent Zimmermann, a law firm consultant for Zeughauser Group, told Maloney. "But they do have complete control over their pricing model, particularly in areas where the firm is known for market leadership and is in high demand, on the kinds of matters where clients are more interested in results."
TELL ME MORE - Legal teams at tech companies this spring should brace for shareholder proposals demanding data on diversity, equity and inclusion at a more granular level than ever before, Law.com's Greg Andrews reports. Whereas shareholders in recent years pressed companies to provide more employee demographic information, there likely will be an increase in proposals specifically targeting information in such areas as recruitment, retention and promotion rates of diverse populations, said Kilian Moote, managing director of the ESG Advisory at Georgeson. It's a continuation of the 2022 proxy season, when "we saw more ambitious or nuanced questions related to social issues. In particular, diversity, equity and inclusion proposals continue to be a major focus and theme of those that are filing resolutions."
ON THE RADAR - Weber Inc., an outdoor cooking products manufacturer and distributor, was sued Tuesday in Delaware Court of Chancery. The lawsuit, brought by Andrews & Springer and Wohl & Fruchter on behalf of Jonathan D. Abbott, seeks to inspect certain corporate books and records for potential mismanagement and breaches of fiduciary duty in connection with the proposed acquisition of Weber by its controlling stockholder and investment banker, Byron D. Trott, through his investment firm, BDT Capital Partners and its affiliates. Counsel have not yet appeared for the defendant. The case is 2023-0047, Jonathan D. Abbott v. Weber Inc. Stay up on the latest deals and litigation with the new Law.com Radar.
|
EDITOR'S PICKS
Conservative Group Sends Mobile Billboards to Harass Berkeley Law Students Accused of Antisemitism By Christine Charnosky |
Judge Approves $2.25M Unpaid Wages Class Action, Reserving 1/3 of Common Fund for Attorney Fees By Allison Dunn |
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
You Might Like
View AllBig Company Insiders See Tech-Related Disputes Teed Up for 2025
Legal Departments Dinged for Acquiescing to Rate Hikes That 'Defy Gravity'
4 minute readLaw Firms Mentioned
Trending Stories
- 1In 2-1 Ruling, Court Clears Way for Decade-Old Wrongful Imprisonment Suit
- 2Trump Sentencing, TikTok Ban Welcome Justices Back to Work
- 3U.S. Eleventh Circuit Remands Helms-Burton Trafficking Case Involving Confiscated Cuban Port
- 4Can Passive Technology Change the Impaired Driving Trajectory?
- 5Bradley Arant, Moore & Van Allen Join Partner Promotions Parade
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250