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The American Lawyer

EU's New AI Act Will Create Wave of Work for Law Firms

Lawyers say the landmark AI legislation agreed upon by EU officials on Friday will generate extensive work for Big Law, with multijurisdictional law firms that have strong regulatory practices best positioned to ride the wave of advisory and compliance work the new bill is expected to create.
5 minute read

The American Lawyer

How Some Big Law Firms Can Afford Associate Salary Raises

Most of the law firms that have confirmed matches to the latest associate salary scale have PEP above $2 million a year and more than $1 dollars in gross revenue.
5 minute read

The American Lawyer

To Secure A&O Merger, Some Shearman Partners Agreed to 50% Cut to Unfunded Pension

"It was clear that if we didn't approve the pension, the [Allen & Overy] deal wasn't going to go through," a retired Shearman partner said.
6 minute read

The American Lawyer

Despite FisherBroyles' Departures, Distributed Firm Model Is Here to Stay, Albeit With Modifications

"I give Kevin Broyles and James Fisher full credit for having this vision when they started in 2002," said Grant Walsh, who left FisherBroyles a decade ago to co-found Culhane Meadows, another distributed firm.
7 minute read

The American Lawyer

Big Law's Flood Into Boomtown Nashville Tests Client Loyalties

"Some clients are super loyal to their firms that they work with, sometimes blindingly so," said Joan MacLeod Heminway, a University of Tennessee law professor.
9 minute read

The American Lawyer

'Not A Rosy Outlook': Law Firm Leaders Are Less Bullish Heading Into 2024

Even before some firms embraced associate salary increases, the legal industry appeared less optimistic heading into 2024 than they were going into 2023, according to a recent survey.
5 minute read

The American Lawyer

'Smaller Group' of Law Firms May Match Associate Pay Scale This Time Around

Second Hundred law firm leaders said that, while they keep tabs on top-of-the-market compensation, they don't feel compelled by it.
6 minute read

The American Lawyer

After 1 Year, FTX Bankruptcy Is More Lucrative for Law Firms Than Enron and Lehman

For law firms like Sullivan & Cromwell and Quinn Emanuel Urquhart & Sullivan, the bankruptcy of FTX is proving to be just as profitable as some of the most notoriously lucrative Chapter 11 proceedings.
3 minute read

The American Lawyer

Generative AI Boosts Speed for All Legal Work, Quality for Some, Study Finds

A trio of professors at the University of Southern California and University of Minnesota called their effort the first randomized controlled trial studying the effects of large language models on legal analysis.
5 minute read

The American Lawyer

Countercyclical and Regulatory Practices Dominate Partner Promotions in 2023

Am Law 100 firms are promoting roughly the same number of partners as last year, but groups like debt finance, antitrust and tax are growing faster than most corporate practices.
4 minute read

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