Credit: Kelly Hume In the Midst of a Talent War, Lockstep Can't Last—Even at Cravath
The evolution of new leading law firms, and the types of legal work that lead to great profits, have allowed non-lockstep firms to change the game.
December 06, 2021 at 03:31 PM
10 minute read
Legal Services
The original version of this story was published on The American Lawyer
Cravath, Swaine & Moore's decision to move away from the pure lockstep model that has defined the firm for decades marks a pivotal moment in Big Law and an indirect admittance of one of the biggest trends in the past few years: pure lockstep firms are losing favor in the war for top talent.
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Law Firms Mentioned
- Sidley Austin
- Latham & Watkins
- Paul, Weiss, Rifkind, Warton & Garrison
- Simpson Thacher & Bartlett
- Wachtell, Lipton, Rosen & Katz
- Cravath, Swaine & Moore
- Debevoise & Plimpton
- Sullivan & Cromwell LLP
- Davis Polk & Wardwell
- Cleary Gottlieb Steen & Hamilton
- Kirkland & Ellis
- Freshfields Bruckhaus Deringer
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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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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.
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