Big Law Is Slowly Infiltrating Emerging Markets: The Morning Minute
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November 29, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
POND HOPPING - From Kirkland & Ellis kicking off a wave of elite firms moving into Salt Lake City to Holland & Knight becoming Nashville's largest law firm overnight, Big Law firms have set their sights on developing markets. As Law.com's Justin Henry reports, firm leaders see an advantage to being a big fish in the small pond of an emerging market. For example, Taft Stettinius & Hollister chairman Bob Hicks, whose firm has an office in seven of the nine largest Midwestern metropolitan areas, pointed to its Minneapolis location, which is the city's third largest at 160 lawyers. "What comes with that is a lot of community involvement. We represent the Vikings, the Minnesota Twins and the families behind them," he said. "Eighty percent of our business comes from local markets."
NOW YOU SEE IT, NOW YOU DON'T? - Whether your legal department is dabbling in generative AI or you attended Burning Man this past summer, right now you're concerned about one thing: are these hallucinations permanent? Organizations remain evenly split between those that expect to increase their use of genAI over the next year and those that are still waiting to decide, according to a new poll from Deloitte shared exclusively with Law.com's Cassandre Coyer. Some of the hesitation is tied to the legal risks that generative AI can bring to an organization, with 32% of respondents citing hallucinations—incorrect information presented as fact—as the biggest potential threat. But Jonathan Foster, managing director in discovery at Deloitte, said he expects those concerns to settle as professionals get more comfortable with AI tools.
ON THE RADAR - Goodwin Procter partner Douglas J. Kline has entered an appearance for New Balance Athletics Inc. in a pending patent infringement lawsuit. The action, which asserts nine patents, was filed Nov. 6 in Massachusetts District Court by Arnold & Porter Kay Scholer on behalf of Nike. The suit accuses New Balance of using Nike's Flyknit technology, a method of designing and manufacturing shoe uppers, without authorization. The case, assigned to U.S. Magistrate Judge Jennifer C. Boal, is 1:23-cv-12666, Nike, Inc. v. New Balance Athletics, 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
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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