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WHAT WE'RE WATCHING

MARKET MISMATCH - Everything was going according to plan. Millbank raised associate pay, clients and anonymous Big Law leaders had commenced their finger-wagging—all that was left was to wait for competitors to start trying to match Millbank or one-up each other. Only, so far, that hasn't happened (read more about why from Andrew Maloney under "Editor's Picks" below). But, as Law.com's Christine Simmons writes in this week's Barometer newsletter, it probably shouldn't be totally surprising. After all, this year has not been going gangbusters for everyone. Sure, some law firms have momentum, but others are closing, shrinking or struggling just to stay on pace with the market. To receive the Law.com Barometer directly to your inbox each week, click here.

PARTIAL PARTNERS - Have you ever looked at your firm's equity and nonequity tiers and wondered, "Why can't I have a little of both?" If you're the type of person who opts for the vanilla-chocolate twist when ordering soft serve, you might be interested in "hybrid" partnership. As Law.com's Justin Henry reports, hybrid partnership status—in which partners receive some portion of their income in the form of equity and the other as a fixed salary—isn't really new to the industry, but it's become a popular solution for firms with lofty bars of entry to their equity tiers. The goal is to ease the transition into equity partnerships, allowing partners to grow the share of their income coming from equity, and to maximize profits per equity partner. It's also "done for morale and to hold onto that talent," said California-based partner recruiter Avis Caravello.

ON THE RADAR - George S. Canellos, Jed M. Schwartz and Nicole Valente from Milbank have entered appearances for Edgio Inc., formerly known as Limelight Networks, a digital content solutions company, and members of its board of directors in a pending shareholder derivative lawsuit. The case, filed Aug. 23 in New York Eastern District Court by Weiss Law on behalf of Joel Rosenfeld, accuses the company of overstating revenue by erroneously accounting for certain customer transactions as 'sales' rather than 'financing leases.' The case, assigned to U.S. District Judge Eric N. Vitaliano, is 1:23-cv-06323, Rosenfeld v. Amaral et al. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.  

EDITOR'S PICKS