The end of panel reviews, BLP becomes BCLP and an acerbic reply-all email – the best of Legal Week last week
The most-read news and analysis from Legal Week last week
February 27, 2018 at 06:43 AM
3 minute read
Two years after its merger talks with Greenberg Traurig ended, Berwin Leighton Paisner has secured its elusive US tie-up, confirming yesterday (26 February) that partners had approved a fully financially-integrated deal with Bryan Cave that will go live in April.
The newly merged Bryan Cave Leighton Paisner will be a top 50 player by global revenue and the first leading firm to be led by two women.
In other news, long-winded panel reviews could be set to become a thing of the past after Barclays confirmed its latest panel review will be its last. After that, the bank is planning to jump onto the continuous feedback bandwagon, with a move to ditch formal reviews in favour of constant adjustments.
It's a decision that's likely to be closely watched by the bank's key advisers, which include a host of top US firms, many of which have been showing their commitment to London through a series of bumper partner promotion rounds.
Legal Week's research found combined City promotions at 32 of the largest US firms in London jumped by nearly 30% year on year, with many expanding their UK presence, despite the uncertainty of Brexit. The increase compares to a global increase in new partner promotions of just 6% across the same group of firms.
Elsewhere, elite US outfit Quinn made headlines last week when firmwide managing partner John Quinn sent a reply-all email spelling out his feeling about one of two of his New York partners leaving to launch their own firm, hitting out at Faith Gay's "stealthy" exit and "saccharine" farewell email.
Other highlights on Legal Week last week include:
- Latham becomes world's first $3bn law firm as London office outpaces global growth
- Baker McKenzie brings in Simmons for review of firms response to sex assault claim
- Hogan Lovells breaks $2bn mark for first time as London revenues also rise
- Former Skadden associate charged with lying to FBI in Mueller probe
- Herbert Smith Freehills senior partner Palmer faces challenge from litigation heavyweight for top role
- Ministry of Defence cuts legal spend to top billing advisers as magic circle firms see fees fall
- PwC eyes global expansion of flexi-lawyering service as 1,000 sign up since launch
- Ex-Slaughters partner admits tax scheme error of judgement in FCA chair appointment hearing
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Who Got The Work
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.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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