Behind the Big Law Churn: The Morning Minute
The news and analysis you need to start your day.
October 19, 2023 at 06:00 AM
4 minute read
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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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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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