Credit: Elnur/Adobe Stock; Am Law 50's Runaway Rates Put Onus on Legal Departments to Stiffen Resistance
"It is all too easy for in-house teams to continue instructing work to the same firms they have always used, without considering the savings that can be gained from a more structured approach to resourcing," the-e-billing platform Brightflag said in a new report.
October 09, 2024 at 07:00 AM
4 minute read
The Am Law 100 increased hourly rates an average of 10.0% in 2024, more than double last year's 4.8% increase and six times 2022′s 1.5% hike, according to a new study that assigns part of the blame to legal departments' lack of diligence in pushing back.
The most elite firms exercised the greatest pricing power, the report found, mirroring the findings of other recent reports, with Am Law 50 firms increasing rates 12.1% and Second 50 lifting them 3.1%.
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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