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First Shot Fired in Fla. Associate Pay War
The Miami office of New York-based White & Case last week increased first-year associate salaries by $10,000, to $115,000 -- a move that is already forcing other Florida firms to rethink beginner attorneys' compensation. A dramatic round of increases in 1999 and 2000, also sparked by White & Case, left many firms catching their breath in the succeeding years, though some started nudging beginner pay up again in 2003.The 2010 Lateral Report Buyer's Market
By most measures, 2009 was a dismal year for the legal industry. One notable exception to the drumbeat of record layoffs and bankruptcy actions: By our count, there were also a record number of lateral partner moves in The Am Law 200.Keeping Firm in a Soft Economy
During the late 1990s, while America -- most notably Silicon Valley tech firms -- was getting drunk on the "new economy," Akin, Gump, Strauss, Hauer & Feld was beefing up its bankruptcy practice and Wilmer, Cutler & Pickering was setting deeper roots in regulatory practice. Now, while many reel from the recession, sobriety is paying off at both firms -- and throughout the Washington, D.C., legal market.Is Henry Samueli on his way to prison? That could be the outcome of his failed attempt to appeal a Los Angeles judge's refusal to approve his no-time plea deal in a criminal stock options backdating case.
Orrick Attracts Bingham McCutchen IP Litigator
Orrick, Herrington & Sutcliffe has snagged Bingham McCutchen's patent litigation and prosecution co-chairman, Fabio Marino. The lateral partner acquisition is part of Orrick's ambition to double the size of its 120-lawyer IP practice this year. "Our sweet spot right now is large-scale patent litigation, and Fabio's skill set and experience ... is precisely what we're trying to add to our IP bench," said Gary Weiss, head of Orrick's IP practice.Gatekeeper GCs Increasingly Becoming Targets for Liability
When the SEC went after Biopure and its executives for misleading public statements, the company escaped without financial repercussions but the GC had to pay a $40,000 fine. The Biopure settlement illustrates the increase in government scrutiny of "gatekeepers," including GCs, responsible for safeguarding shareholder interests. Says attorney William Schuman, "We're seeing more inquiries and investigations where the conduct of in-house counsel is being examined every bit as much as the businesspeople's."Trending Stories
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