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Reed Smith Disputes Claims of Growing Pains
Within just five years, Reed Smith has nearly doubled in size and profitability while making splashes in the California and London markets with large mergers. The firm is led by the dynamic Gregory Jordan, a 45-year-old Reed Smith lifer who has accepted the mission of taking the firm to the next level. But with the changes have come rumblings that the Philadelphia office has been ignored and partners de-equitized while Reed Smith changes focus and tries to become more like a New York firm.Recipe for Ruining Your Career: 7.4 Grams of Cocaine, 10 Hits of Ecstasy and 30 Yaba-Daba-Don'ts
Two years ago, David Baer was flying high. The 35-year-old was general counsel of Petters Group Worldwide, had a wife and two dogs, and recently been named one of Minnesota's attorneys of the year by Minnesota Lawyer.Use Your Words, People Who Are Paid Highly for Just That, Not Your Fists
A dispute among partners at The Beasley Firm erupted into a barroom brawl that led one partner to file a private criminal complaint against another and ultimately caused two partners -- Slade H. McLaughlin and Paul A. Lauricella -- to leave the firm.Tomorrow, the World: BigLaw Firm Building Transnational Defense Practice
Gibson, Dunn & Crutcher, which has been aggressively defending Dole Food Co. Inc. and Chevron Corp. against tort claims brought by plaintiffs in other countries, has announced the formation of the transnational litigation and foreign judgments practice.Adelphia Founder Sentenced to 15 Years, Son Given 20
John Rigas was sentenced to 15 years in prison Monday for his role in the fraud that pushed Adelphia into bankruptcy. His son, Timothy, received 20 years. "Were it not for age and health, I would impose a sentence far greater," Judge Leonard Sand told the 80-year-old John Rigas, who is suffering from bladder cancer. Adelphia, the nation's sixth largest cable operator, filed for bankruptcy after it revealed it was a guarantor for more than $2 billion in loans made to the Rigas family.Firms Hunting for Stars Re-Examine Partner Compensation
Although the most profitable law firms don't often lose partners to other firms, there's evidence suggesting that even firms with the highest profits per partner have become more vulnerable to the lateral market. In response, some Am Law 100 firms are deploying high-spread compensation systems specifically designed to reward their most valuable partners with more money than they could earn at the most profitable low-spread firms. Think your firm isn't re-examining its compensation system? Don't be so sure.Trending Stories
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