Milbank offices at 55 Hudson Yards, on the west side of Manhattan. Photo: David Handschuh/ALM Milbank Matches Bonus Scale, But Will Pay Out Extra Money for Top Performers
The firm's move, following Davis Polk's announcement, will likely spur other law firm partnerships to consider matching. The bonus comes on top of what the firm plans to offer at year-end, which it says will likely equal last year's year-end bonus.
September 17, 2020 at 06:49 AM
3 minute read
Milbank has matched Davis Polk & Wardwell's bonus scale, informing associates of a "special one-time bonus" to be paid out by next month. The firm is also giving top performers an additional bonus that is equal to 50% of their respective class bonus.
Milbank's news on late Wednesday follows bonus announcements by Davis Polk and Cooley and will likely spur other law firm partnerships to consider matching. It also comes in a month when several firms in the Am Law 200 confirmed layoffs, while other firms have only partially restored pay cuts, signs of a recession that has further segmented the legal industry.
This content has been archived.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
© 2025 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
O'Melveny, White & Case, Skadden Beef Up in Texas With Energy, Real Estate Lateral Partner Hires
5 minute read
Arizona Supreme Court Presses Pause on KPMG's Bid to Deliver Legal Services
Law Firms Mentioned
Trending Stories
- 1Trending Issues in Florida Construction Law That Attorneys Need to Be Aware Of
- 2The Importance of Judicial Elections
- 3Ephemeral Messaging Going Into 2025:The Messages May Vanish But Not The Preservation Obligations
- 4Decision of the Day: Trial Court's Sidestep of 'Batson' Deprived Defendant of Challenge to Jury Discrimination
- 5Is Your Law Firm Growing Fast Enough? Scale, Consolidation and Competition
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.
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
