Cravath signs deal with Slaughters-backed artificial intelligence company
Elite US firm to use Luminance technology developed in conjunction with Slaughters
July 03, 2017 at 07:35 AM
2 minute read
Cravath Swaine & Moore has joined the growing ranks of elite law firms turning to artificial intelligence (AI) technology to improve efficiency and cut costs, signing a deal with UK software company Luminance.
London-based Luminance is part-owned by Slaughter and May, which has a longstanding relationship with Cravath. The magic circle firm took a small equity stake in the business in return for its help developing the software last year.
Cravath and Slaughters regularly work together on M&A deals, including advertising business Dentsu Aegis Network's acquisition of a majority stake in data analytics firm Merkle Group last year.
Cravath has been piloting Luminance's machine learning system for several months. Corporate partner George Schoen appeared alongside Luminance CEO Emily Foges at ALM's Legaltech conference in New York this February, on a panel discussing AI's impact on due diligence.
Responding to a question on the risks of introducing AI into the legal profession, Schoen said: "I don't see a lot of risk to the client when using artificial intelligence, as long as it's used as a tool."
Having helped test and pilot the software, Slaughters became Luminance's first client when the company launched last September. The firm has further ties to Luminance through financial backer Invoke Capital, an investment fund that was founded by members of the senior management team at UK enterprise software company Autonomy, a longstanding client of the magic circle firm. Slaughters advised Autonomy on its $11bn sale to Hewlett Packard in 2011.
In addition to securing a contract with Cravath, Luminance has also signed its first deal in Australia, with local firm Gilbert + Tobin.
Other firms to have inked deals with AI software providers such as Kira Systems, Luminance and ROSS Intelligence in recent years include Baker & Hostetler, Clifford Chance, DLA Piper, Dentons, Freshfields Bruckhaus Deringer, Latham & Watkins, Linklaters, Travers Smith, and Wachtell Lipton Rosen & Katz.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
When Inadvertent Disclosures Happen at a Law Firm, Who Is Responsible?
Canadians Mourn the Loss of Two Esteemed Legal Professionals: Alan Young and Jason Moyse
4 minute read
Lawyers Should Only Use AI For Low-end Tasks, Regulators in Australia Say
3 minute readTrending Stories
- 1A&O Shearman, Hogan Lovells and the Stories That Shaped Africa This Year
- 2Borden Ladner Gervais Cyber Expert Warns of AI-Boosted Ransomware Attacks
- 3Phila. Judge Upholds $68.5M Verdict Over Construction Worker's Death
- 4Biden Vetoes Bill to Create More Federal Judgeships
- 5Memories of a Straight Shooter
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.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
