Why Big Law Is Further Tweaking Partner Pay: The Morning Minute
The news and analysis you need to start your day.
October 06, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
STEPPING AWAY FROM LOCKSTEP - It's hard out there for a law firm, and growing market share in a low-demand environment invariably means poaching work and talent from competitors. But if you want to lure top rainmaking partners from a rival, you need to not only show them the money but the potential to make as much money as possible in the long run. As Law.com's Christine Simmons writes in this week's Barometer newsletter, this new reality is forcing firms to reassess their approaches to partner pay. "…[S]everal big firms still have modified lockstep compensation systems, but Big Law is increasingly exiting the realm of a one-size-fits all pay model," Simmons writes. To receive the Law.com Barometer directly to your inbox each week, click here.
WORKING OVERTIME - The Equal Employment Opportunity Commission is on a tear. The commission filed 143 discrimination lawsuits in its just-completed fiscal year—a 52% increase from the 94 reported last year, a spike in activity that employment attorneys predict will be exceeded this fiscal year. Of the suits the EEOC filed in the year ending Sept. 30, 25 alleged systemic discrimination. "The EEOC is looking for opportunities which they can tout as a success for them," Littler Mendelson shareholder Bradford Kelley told Law.com's Hugo Guzman. "[This lawsuit data] does show that they're going to continue to focus on their strategic plans."
ON THE RADAR - Freight Farms Inc., an agricultural technology company, is going public through a SPAC merger with Agrinam Acquisition Corp. As a result of the merger, Freight Farms will be listed on the Toronto Stock Exchange with a post-transaction equity value of approximately $147 million. The transaction, announced Oct. 4, is expected to close in the first quarter of 2024. New York-based Freight Farms was represented by Stikeman Elliott and a Latham & Watkins team led by partner Stephen Ranere. Agrinam was advised by Borden Ladner Gervais and Dorsey & Whitney. 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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