Photo: Philip Steury/stock.adobe.com Big Firms Headed Off 'Great Unknowns' by Pre-Paying Bills
Am Law 200 firms leaders said they wanted to get a jump-start on reducing this year's risk by prepaying more so than usual.
March 10, 2021 at 05:00 AM
4 minute read
Big Law was bullish heading into 2021, optimistic about revenue and profit growth. But several firms still hedged their bets as the year ended, with leaders and legal market observers noting they used significant gains in 2020 to prepay this year's expenses and cut down on lingering uncertainty posed by COVID-19.
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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.
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