Credit: esfera/Shutterstock.com After Milbank Rolls Out Summer Bonuses, Big Law in 'Waiting' Mode While Associates Watch Eagerly
Many associates are asking whether their firms will give out summer bonuses, putting pressure on firms to match Milbank's bold move, one recruiter noted.
August 12, 2024 at 04:32 PM
6 minute read
Lawyer Compensation - Law Firm
What You Need to Know
- Legal industry observers said that many firms will likely wait to match summer associate bonuses, watching their peers.
- They said that geopolitical and macroeconomic uncertainty may make the bonuses a bad idea for many firms.
- Many top firms declined to comment or did not respond to a request for comment on if they would be matching the bonuses.
While law firm leaders may have rolled their eyes at Milbank's summer associate bonuses last week, several industry observers said firms are now waiting to see if others match it, even if economic trends may not support the financial hit to their profits.
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Blank Rome partner Andrew T. Hambelton has stepped in to defend Fragrancenet.com in a pending trademark infringement lawsuit. The case, filed Aug. 29 in New York Southern District Court by the Blakely Law Group, targets the defendants for allegedly selling counterfeit fragrance products. The case, assigned to U.S. District Judge Lorna G. Schofield, is 1:24-cv-06521, Abercrombie & Fitch Trading Co. v. Quester (US) Enterprises, Inc. et al.
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Davis Polk & Wardwell partners Mari Grace and Edmund Polubinski III have entered appearances for Australia-based Bitcoin-mining company Iris Energy and other defendants in a pending securities class action. The action, filed Oct. 7 in New York Eastern District Court by the Rosen Law Firm, contends that the defendants concealed the inadequacy of the company's site in Childress County, Texas, including it being 'ill-equipped' and unable to operate the company's proprietary design. The case, assigned to U.S. District Judge Peggy Kuo, is 1:24-cv-07046, Williams-Israel v. Iris Energy Limited et al.
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Ryan S. Stippich of Reinhart Boerner Van Deuren has entered an appearance for biopharmaceutical company Veru Inc. and other defendants in a pending shareholder derivative lawsuit. The action, filed Sept. 30 in Wisconsin Western District Court by the Brown Law Firm on behalf of June Ovadias, accuses the defendant of failing to disclose that small sample sizes and other issues rendered it unlikely that the FDA would grant Emergency Use Authorization for the cancer drug candidate sabizabulin as a potential treatment for COVID-19. The case, assigned to U.S. District Judge William M. Conley, is 3:24-cv-00676, Ovadias, June v. Steiner, Mitchell et al.
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