Big Lateral Moves Up the Ante for Big Law: The Morning Minute
The news and analysis you need to start your day.
May 16, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
WE GO TOGETHER - Precarious law firm partnerships have been disrupted by pandemic-era working conditions, industry leaders and observers told Law.com's Justin Henry. New alliances have been formed across offices at the expense of the ties that used to bind lawyers with regular office attendance. And competitive fervor has made winners and losers out of the largest firms in a hiring environment when entire practices can be lifted out of a firm. "You didn't used to see as many big group departures as we're seeing more recently," said Kent Zimmermann, a partner and law firm consultant at the Zeughauser Group, adding, "It speaks to the need for a cohesive and well-integrated firm that's on the same page about aspirations for the future."
WHAT COULD GO WRONG? - The good news: not everyone in the legal industry is terrified of using generative AI. The bad news: a decent chunk of folks could stand to be just a little more scared than they are. According to the LegalTech Survey 2023 conducted by data, information and analytics software company Outsell, nearly 44% of the 800 respondents said they found generative AI technology to be "generally reliable," followed by 30% who said they found it "extremely reliable." About 15% were neutral on the subject and a little over 5% found it unreliable. Hugh Logue, the vice president and lead analyst at Outsell, told Law.com's Isha Marathe that the 30% who said it was "extremely reliable" is a slightly concerning number, since the technology is known to have its inaccuracies and pitfalls, and some experts have advised against using it for legal tasks at this stage.
ON THE RADAR - Abbott Laboratories was hit with a consumer class action Monday in New York Southern District Court over the company's sale of the beverage PediaSure Grow and Gain. The complaint, filed by Denlea & Carton and Kravit Smith LLP, accuses the company of falsely adverting that the product is 'clinically proven' to help kids grow taller. Counsel have not yet appeared for the defendant. The case is 1:23-cv-04014, Noriega v. Abbott Laboratories. Stay up on the latest deals and litigation with the new Law.com Radar.
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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