How Law Firms Are Still Losing Millions Despite Hiring Pricing Pros: The Morning Minute
The news and analysis you need to start your day.
October 13, 2023 at 06:00 AM
3 minute read
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WHAT WE'RE WATCHING
LOST LEADERS - It's undeniable that Big Law leadership has seen massive turnover recently and there appears to be some validity to the idea that the stress of the pandemic hastened burnout. But, as Law.com's Gina Passarella Cipriani writes in this week's Barometer newsletter, these jobs are not likely to get any easier, so firms need to be prepared, by focusing on succession planning and making sure that the people who are tapped for these roles have the right tools to lead, including, but not limited to, emotional intelligence and the ability to connect the work a firm does to a career with purpose. To receive the Law.com Barometer directly to your inbox each week, click here.
LEAVING MONEY ON THE TABLE - Law firms have been increasing their investments in pricing and financial professionals. Yet, Big Law has still lost out on revenue over the last couple of years during the collections process. So what gives? As analysts and consultants told Law.com's Andrew Maloney reports, it's not the pricing pros' fault, but rather a confluence of factors. For instance, pricing teams are still small, or at least, more strategically deployed to certain matters versus others. Partners still have "silent" write-downs, billing only what they expected at the outset of a task. Meanwhile, e-billing systems and clients' increased scrutiny both play roles in reducing realization.
ON THE RADAR - Robert A. Jacobs, Charles E. Weir and Andrea Del-Carmen Gonzalez from Manatt, Phelps & Phillips have entered appearances for music publishers BMG Rights Management (France), Sarl and BMG Rights Management (US) LLC in a pending trademark infringement lawsuit. The complaint, filed Aug. 31 in California Northern District Court by Phillips, Erlewine, Given & Carlin on behalf of Om Records LLC, seeks to enjoin the defendants from using the 'OM Records' mark in connection with the sale of record label goods or services. The case, assigned to U.S. District Judge Jeffrey S. White, is 4:23-cv-04506, Om Records, LLC v. Om Developpement, SAS 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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EDITOR'S PICKS
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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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