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WHAT WE'RE WATCHING

TAKING THEIR BUSINESS ELSEWHERE - Is the rationale behind rate hikes starting to erode? We know that clients have become increasingly public about their distaste for them, but the prevailing wisdom has long been that they're a crucial tool for law firms looking to remain profitable (i.e. all of them). Now, however, some research suggests rate increases are yielding diminishing returns. According to the Thomson Reuters 2024 Report on the State of the Legal Market, published Tuesday, soaring price increases have failed to fully mitigate the effect of sagging productivity in Big Law, in part because it's gotten harder to actually collect that extra money from clients. But that's arguably not even the worst unintended consequence of skyrocketing rates: Bill Josten, strategic content manager for Thomson Reuters, told Law.com's Andrew Maloney that, in interviews with GCs, 50% of respondents said they anticipate moving work to lower-cost firms over the next 12 months, a finding he called "relatively remarkable."

INEQUALITY IN LEGAL ACADEMIA - Gender inequality remains a pervasive issue in the legal profession, particularly in academia, where women are still underrepresented in influential positions and are facing systemic bias, discrimination and harassment that limit their advancement, Law.com's Christine Charnosky reports. "The legal academy was not built for anyone other than white males," said Nicola Boothe, dean of the University of Illinois Chicago School of Law, during a discussion at the Association of American Law Schools annual meeting last week. There is reason for hope, however. According to data compiled by Kristen Konrad Tiscione, professor of law at Georgetown University Law Center, the percentage of women law school deans has grown since the 2008-09 academic year, from 20% to 35% in 2023-24.

ON THE RADAR - Private equity firm Liberty Hall announced the merger of its portfolio company Comply365 with aviation software provider Vistair Ltd. in a deal guided by Willkie Farr & Gallagher; Osborne Clarke; and Gibson, Dunn & Crutcher. In connection with the merger, Insight Venture Partners has joined Liberty Hall as an equal investor in the combined business. Financial terms were not disclosed. New York-based Liberty Hall was advised by a Gibson Dunn team led by partners Christopher Harding and John Pollack. Vistair, which is based in Bristol, United Kingdom, was represented by Osborne Clarke. Willkie Farr guided Insight Venture. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.  

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