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WHAT WE'RE WATCHING

DIRTY JOBS - More than two dozen of the largest law firms have announced some kind of leadership transition in the last year or so. Some of this change is attributable to fairly unremarkable drivers like standard term limits and natural attrition. But, as Law.com's Andrew Maloney reports, some consultants and industry analysts predict we could be in for a lot more leadership turnover thanks to burnout from a combination of increased industry competition, the struggle to pay high performers while satisfying partners, higher scrutiny from all corners and lingering pandemic-induced pressures. "I certainly wouldn't want to be running a law firm right now. The stakes are a lot higher," said Jim Jones,  a former managing partner at Arnold & Porter who is now director of the Georgetown University Law Center on Ethics and the Legal Profession.

(OVER)HAULING JUNK - Counsel representing a wide swath of consumer-facing industries are bracing for an onslaught of compliance work resulting from the FTC's proposed crackdown on hidden fees on products and services, Law.com's Chris O'Malley reports. They say if the so-called "junk fee" rule is adopted as expected, companies will need to need to change everything from advertisements to restaurant menus to ensure prices fully reflect the often-concealed costs of mandatory fees. "It's incredibly broad and it would apply to every ad that mentions price and every consumer communication that mentions price," said Frank Gorman, a partner at Wilmer Cutler Pickering Hale and Dorr and former acting director for the FTC's Bureau of Consumer Protection.

ON THE RADAR - Sullivan & Cromwell and Shearman & Sterling have entered appearances for Wells Fargo and certain officers and members of its board of directors in a pending shareholder derivative lawsuit. The complaint, filed Oct. 5 in California Northern District Court by Lieff Cabraser Heimann & Bernstein, arises from the defendants' alleged failure to oversee Wells Fargo's compliance with consent orders it entered into with regulators and to comply with consumer protection laws. The case, assigned to U.S. District Judge Jon S. Tigar, is 4:23-cv-05112, Fire and Police Pension Association of Colorado v. Baker 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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