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Big-Firm Associate Pay Soars by $10K in 2006
Salaries for starting associates at big firms soared by $10,000 this year, marking the first increase for new lawyers since 2000 and demonstrating the competition to recruit top talent in a market with a declining number of applicants. But what may be a quick recruiting fix could exacerbate the attrition problem. Indeed, in 2005, 78 percent of associates with about five years' experience left their firms, just as their salary increases started lagging behind those enjoyed by their beginning colleagues.
Ropes & Gray Leads on Pfizer's Record $2.3 Billion Settlement
Ropes & Gray took the lead among several firms in advising Pfizer on its decision Wednesday to pay $2.3 billion in fines and penalties to settle charges it illegally marketed several drugs for off-label uses and paid kickbacks to doctors, according to lawyers on the deal. The settlement is believed to be the largest health care fraud settlement in U.S. history, according to the Justice Department. In all, six whistleblowers will split $102 million in proceeds from the settlement; the legal fees paid are confidential.
Arab Bank Can't Undo Sanctions in Terror Funding Case
Publication Date: 2013-01-21 Practice Area: Industry: Court: Judge: Case number:
Despite the efforts of Mayer Brown's Stephen Shapiro, Amman, Jordan-based Arab Bank plc failed last week to reverse what it has called a "disastrous" ruling in its billion-dollar court battle with victims of terrorist attacks and their families.
Seyfarth Shaw plans to link merit pay and billing rates for associates
Seyfarth Shaw rolled out more details Wednesday on how its new merit-based compensation system for associates will work. The new merit levels will be the basis for how much the firm charges clients for associates' legal services, the firm said.SEC Goes After Countrywide CEO and Other Top Execs
The Securities and Exchange Commission is going after its highest-profile target yet as it sorts through the wreckage of the subprime mortgage meltdown: former Countrywide Financial CEO Angelo Mozilo, who has been charged with securities fraud and insider trading. Also charged are Countrywide's former COO and president and its former CFO. The SEC accuses the three senior executives of misleading the market by falsely assuring investors that Countrywide was primarily a prime-quality mortgage lender.
What I Learned This Summer at ILTA'06
What did law firm tech personnel take away from the International Legal Technology Association's 29th annual meeting in Orlando, Fla., last week? Brett Burney, legal practice support coordinator at Thompson Hine in Cleveland, has some thoughts.
Phila. Leads Pack in Summer Associate Survey
Philadelphia law firms evidently have something new to crow about: the success of their summer associate programs.Trending Stories
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