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Competitive intelligence and news on billing rates, evolving rate pressures and alternative pricing.
By Andrew Maloney | November 29, 2022
If it used to take 30 days for a payment, it's now taking 60; if it used to take 60 days, it's taking 90, said Citi's Gretta Rusanow.
4 minute read
By Hugo Guzman | Trudy Knockless | Maria Dinzeo | Greg Andrews | November 28, 2022
"This feels more like law firms throwing spaghetti up against a wall and seeing what sticks," said Jason Winmill, managing partner of Argopoint.
7 minute read
By Andrew Maloney | November 22, 2022
"We're seeing higher planned rate increases at this point than we've ever seen, and we've been tracking this for 15 years," said a Wells Fargo analyst.
4 minute read
By Hannah Walker | November 9, 2022
The judge stated that the total bill estimation "is disproportionate".
2 minute read
By Anne Bagamery | October 19, 2022
The office, which opened in 1962 and was the firm's first outpost outside the U.S., today counts five lawyers, including one partner, who are all being outplaced, the firm said.
3 minute read
By Hannah Walker | October 4, 2022
The DEI contributions will also be taken into account when it comes to assessing overall performance bonuses.
2 minute read
By Dan Roe | September 7, 2022
Canadian law firm McCarthy Tétrault is owed $1.6 million, according to the British movie theater chain's bankruptcy filing.
2 minute read
By Andrew Maloney | August 9, 2022
Exchange rates could affect how U.S. law firms manage certain expenses, set billing rates and attract laterals. And firms outside the U.S. could also benefit.
6 minute read
By Colleen Murphy | June 30, 2022
Latham & Watkins and its client, VTB Bank, have already missed two deadlines to get substitute counsel to file an appearance notice, and requested, in a letter addressed to a federal judge, an additional two-week extension until July 7.
5 minute read
By Jack Womack | May 26, 2022
The figure includes an annual salary of £400,000.
2 minute read
By Thomas Spigolon | February 21, 2024
The firm's PEP dropped by 5% to $820,000, as its equity tier expanded and its nonequity tier shrunk by 9%, bucking a trend in the industry of growing the nonequity ranks.
5 minute read
By Alexander Lugo | February 21, 2024
The biggest beneficiary is Winter Park-based boutique Fishback Dominick, which earned nearly $700,000 in the second half of 2023 from the Central Florida Oversight Tourism District. The firm hadn't previously billed the entity in recent years.
5 minute read
By Dan Roe | February 15, 2024
As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.
7 minute read
By Maria Dinzeo | February 15, 2024
A newly released report from the law firm network Lex Mundi has reinvigorated the age-old debate on the topic.
7 minute read
By Dan Roe | February 14, 2024
As Big Law keeps getting rewarded for pushing large rate hikes, analysts and consultants say midsize firms are leaving money on the table.
7 minute read
By Maria Dinzeo | February 14, 2024
"The people who regulate the profession are the profession. They are judges and members of the bar. So what incentive do they have to give away that control to the machine?" said Foster Sayers, vice president of legal ops at health tech company symplr.
7 minute read
By Ross Todd | February 14, 2024
"Billable hours worked, the market's favored measure of demand for legal services, is simply becoming a less useful measurement," write the authors of a report issued this week by The Thomson Reuters Institute.
4 minute read
By Abigail Adcox | February 12, 2024
"Many do compete with the New York firms," said Wells Fargo's Owen Burman about D.C. firms. "But it's not universal."
5 minute read
By Dan Roe | February 12, 2024
The Am Law 50 finished the fourth quarter with nearly 8% more fees worked than Q4 2022 despite a decline in demand, according to a new Thomson Reuters report.
3 minute read
By J. Mark Santiago | February 9, 2024
Having a compensation system that clearly outlines partner expectations, provides the partners with the ability to validate the results by communicating the results back to them does more to build collegiality than an opaque system that, by its design, promotes distrust and ill will among partners.
5 minute read
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