Facts & Figures: 5 sets of newsworthy data
From shrinking salaries to the growing demand for labor lawyers, an inside look at the numbers that count
August 03, 2012 at 08:19 AM
14 minute read
The original version of this story was published on Law.com
Sinking Settlements
Although the number of U.S. securities class action suits has remained consistent this year, the number of settlements in those cases has dropped significantly, according to a study by NERA Economic Consulting. The average value of those settlements, however, has increased in 2012, although some of that is attributable to a $1.01 billion settlement in In re American International Group, Inc. Securities Litigation.
98 Projected cases that will be settled in 2012 (the number stands at 49 through June)
128 Total cases settled in 2011
62 Projected settlements with monetary compensation this year, down from 87 in 2011
$71 million Average value of securities class action settlements in the first half of 2012
$41 million Average value of those settlements excluding In re American International Group
$31 million Average value of the same settlements in 2011
Grim Graduation
In case you haven't had your fill of depressing law school statistics, here are some more. According to a new study from the Association for Legal Career Professionals, 2011 graduates are earning significantly lower median salaries than graduates in past years. And those are the lucky ones: Nearly 15 percent of 2011 law school graduates can't find jobs at all.
85.6% Employment rate for 2011 law school graduates, the lowest since 1994
65.4% Employed 2011 graduates who found jobs in law firms
-17% Decline in law school graduates' starting salaries between 2009 and 2011
$60,000 National median salary of 2011 graduates who worked full-time for at least one year
$72,000 National median salary of 2009 graduates who worked for the same period
Labor Lawyers
The financial crisis hasn't been kind to most of the legal industry, but attorneys working in the labor and employment sector have reason to smile, according to new data from the Hildebrandt Institute. Although demand for corporate, real estate and bankruptcy work fell during the second quarter of 2012, law firms saw an increase in the demand for labor and employment work in the same time period. Read on for a more complete breakdown:
4.2% Increase in demand for labor and employment work
-2.1% Decrease in demand for corporate work
-3% Decrease in demand for bankruptcy work
-0.2% Decrease in overall demand for legal services
5% Increase in the demand for legal work at Los Angeles law firms, the strongest among major markets
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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.
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