Law Firm Leadership in the Crosshairs: The Morning Minute
The news and analysis you need to start your day,
May 12, 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
EXECUTIVE EXITS - Other than not wearing ties as often anymore, what do NBA coaches and law firm leaders have in common? Both are on the hot seat right now. As Law.com's Gina Passarella writes in the latest Barometer newsletter, there have been frequent discussions since the pandemic about the type of leaders needed to run modern law firms. And recent leadership changes at a few large firms highlight the questions around what type of organization can thrive in the current economic climate. Leaders of law firms whose partners don't feel they can adequately answer those questions may find themselves on an increasingly shrinking timeline. "As the profession continues to mature into an industry, for better or worse we may see more willingness to change executive ranks at law firms as the situation requires, not just when a term limit is up," Passarella writes. To receive the Law.com Barometer directly to your inbox each week, click here.
NOT SO BIG ON BIG LAW - Lawyers and aspiring lawyers in Gen-Z are moving away from Big Law and traditional law firm career paths, according to a new survey. Among law school students who said they want to work at a firm after they graduate, about 39% said they wanted to go to a Big Law firm—a roughly 20% drop since 2020, according to a report on Gen-Z lawyer preferences from Major, Lindsey & Africa, published this week. As Law.com's Andrew Maloney reports, the numbers for current lawyers and clerks in the cohort showed a similar trend. About 30% of those who already work in the profession said they wanted their next job to be at a Big Law firm, while 17% said they'd like to be at a midsize firm, and 6% pointed to a boutique.
ON THE RADAR - Mr. Cooper Group has agreed to acquire mortgage servicer provider Home Point Capital Inc. for approximately $324 million. The transaction, announced May 10, is expected to close in the third quarter of 2023. Dallas-based Cooper Group was advised by Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz. The Simpson Thacher team includes partner Richard Fenyes. The Wachtell Lipton team was led by partner David E. Shapiro, Mark F. Veblen and Jenna E. Levine. Home Point, which is based in Ann Arbor, Michigan, was represented by a Kirkland & Ellis team. Stay up on the latest deals and litigation with the new Law.com Radar.
|
EDITOR'S PICKS
|
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
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Red Tape, Talent Wars & Pricey Office Space Greet Firms Entering Saudi Arabia
5 minute read
Baker McKenzie Accepts Defeat on Australian Integration With Firm's Asia Practice
2 minute read
Stars and Gripes: Merging Firms Need a ‘Superstar Culture’ for US Success
6 minute read
Law Firm Real Estate Strategy: Attorney Offices Are Out, Conference Rooms Are In
Law Firms Mentioned
Trending Stories
- 1NY Appellate Panel Cites Student's Disciplinary History While Sending Negligence Claim Against School District to Trial
- 2A Meta DIG and Its Nvidia Implications
- 3Deception or Coercion? California Supreme Court Grants Review in Jailhouse Confession Case
- 4State Bar of Georgia Presents Access to Justice Pro Bono Awards
- 5Tips For Creating Holiday Plans That Everyone Can Be Grateful For
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
