Law Firm Mergers Targeting California: The Morning Minute
The news and analysis you need to start your day.
October 04, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
BEST COAST - Law firm mergers continued at a steady clip in the third quarter of 2023, according to a new report, with many participants using combinations as a vehicle to launch in a new market. What's more, Law.com's Jessie Yount reports, activity is being driven by firms looking to develop a coast-to-coast presence, with California serving as a particularly hot expansion target. Law firms completed 11 mergers in the third quarter of 2023, for a total of 41 in the first nine months of the year, according to Fairfax Associates. Merger activity is outpacing 2022 and 2021 levels, when 37 and 33 mergers were completed by the same period in the year, respectively.
INTELLIGENCE AND UNDERSTANDING - In-house legal counsel remain wary of artificial intelligence, according to a new survey by Lowenstein Sandler and the Association of Corporate Counsel. Of the 165 U.S. in-house legal professionals who responded to the survey, 64% said they haven't used artificial intelligence for legal tasks. That's despite the fact that 62% see potential for increased productivity. As Law.com's Hugo Guzman reports, the study suggests the hang-up is that in-house attorneys know just enough about AI to realize how much they don't know. Just 12% said they have limited or no awareness of what generative AI can do, while 75% reported at least moderate knowledge.
ON THE RADAR - Saranne E. Weimer of Reed Smith has entered an appearance for medical device manufacturing company Integra LifeSciences and its current and former senior executives in a pending securities class action. The action, filed Sept. 9 in New Jersey District Court by Carella Byrne Cecchi Brody & Agnello and Bernstein Litowitz Berger & Grossman, accuses the defendants of failing to timely rectify issues at its Boston, Massachusetts manufacturing plant after receiving an FDA warning letter in 2018. The case, assigned to U.S. District Judge Michael A. Shipp, is 3:23-cv-20321, Pembroke Pines Firefighters & Police Officers Pension Fund v. Integra LifeSciences Holdings Corporation et al. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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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.
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