Credit: Zack Blanton/iStock Anticipating Transactional Rebound, Am Law 50 Steps Up Partner Hiring in Early 2024
"It shows optimism about what's to come," Macrae partner Jon Truster said. "I don't believe that the hiring is reflective of deal activity. I think it's law firms being more opportunistic that their corporate departments will become busier."
March 12, 2024 at 02:12 PM
6 minute read
What You Need to Know
- In the first two months of 2024, Am Law 50 firms in four key markets increased lateral partner hiring by nearly 20%, according to data compiled by Macrae.
- Corporate departments saw the largest share of these additions, as firm leaders stock up on dealmakers ahead of an expected rebound in transactions.
- Litigation partner hiring continues to be strong as disputes over distressed deals and assets continue to drive work.
In the first two months of 2024, lateral partner hiring in the Am Law 50 has already surpassed the same periods in 2022 and 2023, especially in corporate practices, where firms are seeking to get ahead of a return in transactional activity.
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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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