Facts & Figures: Corporate counsel report increased litigation, regulatory investigations
From law firm profits to part-time lawyers, an inside look at the numbers that count
March 15, 2013 at 09:03 AM
5 minute read
The original version of this story was published on Law.com
Looming Litigation
In-house counsel dealt with more litigation and regulation headaches in 2012, and most corporate attorneys expect that trend to continue in the coming year, according to Fulbright & Jaworski's 9th Annual Litigation Trends Survey. After declining in 2011, litigation rose for both U.S. and U.K. companies last year, with labor and employment lawsuits and contract litigation leading the way domestically.
The number of regulatory investigations also climbed to a five-year high in 2012, the survey reported, and only 3 percent of respondents expect a decrease in whistleblower allegations over the next 12 months.
60% Respondents that acted as plaintiffs in the last year
92% Respondents that expect the number of legal disputes facing their companies to stay the same or increase in the coming year
60% U.S. companies that retained outside counsel for assistance in a regulatory investigation in 2012, up from 55 percent in 2011
72% U.K. companies that retained outside counsel to help with regulatory investigations last year, up from a mere 27 percent in 2011
Rising Revenues
Early indicators show that 2012 was a profitable year for top U.S. law firms, according to numbers collected by The American Lawyer. Last month, 45 of 200 firms had responded to the publication's survey, and the results showed average growth in profits per partner (PPP) and revenue last year.
Houston-based Bracewell & Giuliani enjoyed the biggest increase in PPP in 2012, thanks in part to its acquisition of 14 partners from Vinson & Elkins. Kansas City-based Shook Hardy & Barcon was less fortunate, however, owing largely to the loss of its client, tobacco company Lorillard.
6% Average revenue increase for U.S. law firms in 2012, up from 4.4 percent in 2011
7.4% Average increase in profits per partner in 2012, up from 5.1 percent the previous year
42.2% Percent increase in profits per partner at Bracewell & Giuliani, the law firm with the most growth
-16% Decrease in profits per partner at Shook Hardy & Bacon, which saw the largest decline in growth
Part-Time Positions
Women lawyers lag behind their male counterparts when it comes to reaching the upper echelons of law firms and legal departments. But they're surpassing men when it comes to working part-time, according to a new study from the National Association of Legal Career Professionals.
According to the study, the number of women working part-time in the legal field far outstrips the percentage working part-time in other industries. Of architects and engineers who work part-time, for instance, only 29 percent are female.
6.2% Lawyers who work part-time
70% Part-time lawyers who are women
13.5% Female law firm lawyers who work part-time
2.7% Male law firm attorneys who work part-time
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
© 2024 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
Ballooning Workloads, Dearth of Advancement Opportunities Prime In-House Attorneys to Pull Exit Hatch
The Reason a GC Abruptly Departs May Not Be What You Think
Trending Stories
Who Got The Work
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.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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
