Law Firms Doing More 'Tire-Kicking' Before Hiring Laterals: The Morning Minute
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October 24, 2023 at 06:00 AM
3 minute read
Law Firm Hiring
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WHAT WE'RE WATCHING
HARDER LOOKS AT CLIENT BOOKS - It's a tale as old as time: a lateral partner claims they're bringing all their clients in tow to their new firm, their old firm says all those clients are staying put and, more often than not, the truth is somewhere in the middle. The difference now, however, is that firms are working harder than ever to find that truth before it's too late. As Law.com's Brenda Sapino Jeffreys reports, firms in the market for laterals are not only trying to determine if a prospective hire would be a good fit for the firm, but doing more to determine if the candidate has accurately represented their book of business. Gabriela Cleveland, a founder and principal at Haven Recruiting Group in Dallas, said firms are trying to protect their profitability when adding to their partner ranks with laterals. "They don't want their partners to take a hit."
UNCHECKED - Class members are done cashing checks—they want settlement payments sent directly to their PayPal accounts instead. That is the key finding of the inaugural "Digital Payments in Class Actions and Mass Torts" report, which analyzed 267 class action and mass tort settlements from 2019 to 2022. The settlements were handled by 22 different administrators but distributed by Digital Disbursements, which is owned by Western Alliance Bank. The report found 170 settlements used some form of digital payments in 2022, compared to only two in 2019. "There's a dramatic increase in the number of cases that offer digital payments," Jeff Richardson, co-founder and CEO of Digital Disbursements, told Law.com's Amanda Bronstad. "Truly, a very quick digitization of settlement payments is occurring as we speak."
ON THE RADAR - Textainer Group Holdings Limited, a lessor of intermodal containers, has agreed to be taken private by Stonepeak Infrastructure Partners for $7.4 billion. The transaction, announced Oct. 22, is expected to close in the first quarter of 2024. Textainer, which is based in Hamilton, Bermuda, was represented by O'Melveny & Myers. Stonepeak was advised by a Simpson Thacher & Bartlett team led by partner Brian Chisling. 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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