How Many Firms Will Follow Milbank's Raises?: The Morning Minute
The news and analysis you need to start your day.
November 10, 2023 at 06:00 AM
3 minute read
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WHAT WE'RE WATCHING
RAISE SUSPICION - Here we go again… or do we? Recruiters and industry observers told Law.com's Andrew Maloney and Jessie Yount that, while some of the elite firms that typically compete at the top of the market are likely to raise associate salaries after Milbank increased its pay scale Tuesday, there's more reluctance in the market this year for wholesale market matching. Law firm management consultant Kent Zimmermann said "history suggests at least one more firm will match, and that'll cause others, and it'll domino across the industry." But, he added, the market fundamentals today, including the state of client demand and associate supply, "don't suggest to most firms that they need to raise compensation in the absence of other firms raising compensation."
MERGE WITH CAUTION - Tech companies looking to tie the knot with competitors would do well to send out their invitations to federal regulators as early in the engagement as possible. The FTC has been aggressively pursuing enforcement actions to rein in tech giants, specifically to block mergers it views as anticompetitive. As Law.com's Heather Nevitt writes in this week's Barometer newsletter, these issues are coming to the fore partly because of draft merger guidelines the DOJ and FTC rolled out in July that may deem more companies to have dominant market positions. The result of this hyper-aggressive enforcement is that legal departments need to be proactive and super-responsive to investigators who take an interest in their merger plans.
ON THE RADAR - Megan Stacy of Gordon Rees Scully Mansukhani has entered an appearance for Generac Holdings, a manufacturer of backup power generators, in a pending consumer class action related to a defect in Generac's portable generator products. The action, filed Sept. 22 in North Carolina Eastern District Court by Poulin Willey Anastopoulo, contends that the generators fail to vent adequately and pose fire and burn hazards. The case, assigned to U.S. District Judge Louise Wood Flanagan, is 7:23-cv-01329, Juliano v. Generac Holdings Inc. 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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