Are Distributed Firms Made to Be Broken?: The Morning Minute
The news and analysis you need to start your day.
January 08, 2024 at 06:00 AM
4 minute read
Want to get this daily news briefing by email? Here's the sign-up.
|
WHAT WE'RE WATCHING
BREAKING UP IS KINDA EASY TO DO - This young year kicked off with confirmation that 130 lawyers have left distributed law firm FisherBroyles to join spinoff Pierson Ferdinand. While the size of the move is staggering, what may be even more surprising is that the split appears to be… amicable? Friendly? How is that even possible? As Law.com's Dan Packel writes in his latest Law Firm Disrupted briefing, "it's worth asking whether the nature of distributed firms allows for these mass exits without acrimony." To support this theory, Packel points to a tweet from legal industry futurist Jordan Furlong, who explained that "FisherBroyles's 'distributed law firm' model was never built or intended to last more than a few years. It's a platform for successful senior lawyers who want to make lots of money with no distractions or responsibilities."
CLINICAL PRECISION - On Dec. 26, 2023, while much of the U.S. was still trying to figure out how to stuff 10 pounds of wrapping paper into a five-pound bag, the U.S. Court of Appeals for the Second Circuit was raising the bar for investors suing companies for securities fraud over statements about clinical studies for products. Basically, the court said investors must provide concrete evidence at the pleadings stage that can objectively prove the falsity of a company's statement about a clinical study. The decision did not go unnoticed by securities litigators, who told Law.com's Avalon Zoppo that, while this particular case was limited to scientific studies and data, the rationale behind the Second Circuit's ruling might apply to broader contexts.
ON THE RADAR - Pomvom Ltd., a technology company that develops experiential content for amusement parks and attractions, is going public through a SPAC merger with Israel Acquisitions Corp. As a result of the merger, Pomvom will be listed on the Tel-Aviv Stock Exchange with a post-transaction equity value of approximately $125 million. Tel Aviv, Israel-based Pomvom was represented by Greenberg Traurig; Carey Olsen; Goldfarb Gross Seligman & Co.; and Barnea Jaffa Lande. The blank check company was advised by Reed Smith and Naschitz Brandes Amir. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
|
EDITOR'S PICKS
|
|
|
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
So You Want to Be a Tech Lawyer? Consider Product Counseling
Federal Judge Weighs In on School's Discipline for 'Explicitly Copying AI-Generated Text' on Project
Trump and Latin America: Lawyers Brace for US's Hardline Approach to Region
BCLP Exploring Merger Prospects as Profitability Lags, Partnership Shrinks
Law Firms Mentioned
Trending Stories
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.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
