(Photo: Shutterstock.com) Closing of Two Suburban Law Firms Highlights Economic and Succession Pressures
Suburban law firms are facing a mix of new concerns, including those tied to leadership retirements and talent retention in the wake of the pandemic.
May 09, 2023 at 01:30 PM
4 minute read
The closing of two Maryland law firms in a month highlights the plight of suburban law firms in the capital beltway now, with growing pressures from a tough economy, competition from larger firms and challenges from succession planning.
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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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