Credit: ArtemisDiana/AdobeStock Skadden's Big China Cuts and What They Mean for the Market
Skadden has joined a long list of law firms that have made cuts in China. But with so many lawyers already on the market, where will they all find new homes?
October 21, 2024 at 07:20 PM
5 minute read
The Asia Legal Briefing
It's abundantly clear that no law firm is immune to the state of the China market. Not Wall Street firms, not Big Law, not midmarket players, not domestic practices and certainly not corporate-heavy hitters like Skadden.
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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.
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