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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


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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