4th Circ. Says LeClairRyan Founder May Duck Tax Liability

By Jack Karp

Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth Circuit ruled Friday.

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For These Victims, Death Came Before Bankruptcy Resolution

By Daniel Connolly

Thousands of people have died with no compensation in recent years as big institutions shield themselves in bankruptcy court from claims related to opioids, fraud, asbestos and sexual abuse, plaintiffs' lawyers say. Critics say it's an inherent part of a bankruptcy court system that helps insiders and hurts creditors.

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Law360 Seeks Members For Its 2025 Editorial Boards

Law360 is looking for avid readers of our publications to serve as members of our 2025 editorial advisory boards.

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Chancery Tosses $3.4B Hertz Stock Warrant Redemption Suit

By Craig Clough

Delaware's Court of Chancery dismissed a suit Friday filed by two Hertz institutional investors accusing the company of relying on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization, finding the plaintiffs' interpretation of the agreement leads to "absurd results."

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NAFTA Case Useful In Bid To DQ Quinn Emanuel, Judge Says

By David Minsky

A Florida federal judge has ruled that a Mexican oil company can use information on dismissed NAFTA arbitration and other documents in a bid to disqualify former counsel Quinn Emanuel, saying the evidence is relevant to underlying litigation over alleged funds transfers.

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3 Firms Seek To Co-Lead Suits Over Banks' Synapse Ties

By Emilie Ruscoe

Attorneys from three firms are seeking to represent fintech customers in consolidated class claims in Colorado federal court against several banks over $85 million in funds that went missing after the failure of fintech-to-bank middleman company Synapse Financial.

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Analysis

SPAC Market Hums Again Following Multiyear Downturn

By Tom Zanki

Special purpose acquisition companies are once again asserting their presence in the capital markets and M&A landscape, forming new vehicles at the highest pace in three years — albeit in leaner form than in the last cycle, when many deals ended in busts.

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Perspectives

Accountant-Owned Law Firms Could Blur Ethical Lines

KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.

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BigLaw Firms Saw Double-Digit Profit Growth In 2024

By Aebra Coe

Last year was "one of the strongest years on record" for U.S. law firm financial results, according to Citi Global Wealth at Work Law Firm Group head Gretta Rusanow, with a survey by the bank of mostly large law firms showing a 16.6% increase in profits and a 12.3% increase in revenue over 2023.

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Legal Sector Gains 900 Jobs In January Amid Data Revisions

By Xiumei Dong

The U.S. legal sector started the year with a modest boost, adding 900 jobs in January, according to preliminary data from the U.S. Bureau of Labor Statistics released Friday following the agency's annual employment data revision that also lifted earlier job figures from the past year. 

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Injury Attys In Hot Water Over Possible AI-Hallucinated Cites

By Lauren Berg

Morgan & Morgan PA and the Goody Law Group on Friday withdrew pretrial motions in a personal injury lawsuit against Walmart over an allegedly defective hoverboard after a Wyoming federal court ordered the firms to explain why the filings contained what appears to be case law hallucinated by generative artificial intelligence.

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Plaintiffs Lawyers Swarm Los Angeles Post-Fires

By Brandon Lowrey

A deadly wildfire may be among the first covered by a new state fund that reimburses at-fault utility companies. This could mean billions of dollars for plaintiffs lawyers, and, if past fires are any indication, frustration and confusion for some victims.

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Goldstein's Pro Se Filing Irks Feds Amid Murky Atty Situation

By Elliot Weld

Prosecutors have asked a Maryland federal judge to strike a pro se motion from Tom Goldstein in his tax evasion case, saying the U.S. Supreme Court attorney and SCOTUSblog publisher shouldn't be allowed to personally make arguments to the court when he is represented by several experienced lawyers.

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Dentons US Names Capital Markets Leader Managing Partner

By Anna Sanders

Dentons tapped capital markets partner and regulatory team leader John Holahan to serve as U.S. managing partner, the firm announced Friday.

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CFPB Suspends Activity, Closes HQ As New Chief Arrives

By Jon Hill

The Trump administration escalated efforts over the weekend to power down the Consumer Financial Protection Bureau, canceling the agency's next funding draw, suspending its examination activity and ordering a closure of its main office.

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2nd Circ. Orders In-House Counsel Docs In Grand Jury Case

By Parker Quinlan

The Second Circuit on Friday ruled that an in-house attorney for a publicly traded company under federal investigation in New York must turn over communications as part of a grand jury investigation under the crime-fraud exception to attorney-client privilege.

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Analysis

Del.'s Quiet Ambition To Tweak Chancery, Stem Feared DExit

By Jeff Montgomery

Anxious over claims that stockholder-tilted decisions by Delaware's Court of Chancery will trigger more companies to follow Tesla, SpaceX, Meta and Dropbox to other states, Delaware policymakers are taking a hard look at the venerable business court's processes, hoping to slow a feared rush to DExit.

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DC Prosecutor Axed Jan. 6 Case Against Client, Group Says

By Lauren Berg

A legal group filed a bar complaint in Missouri Thursday against President Donald Trump's top prosecutor in Washington, D.C., saying the attorney violated rules of professional conduct when, in his new government role, he moved to dismiss charges related to the U.S. Capitol attack against his own client.

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Law360's Legal Lions Of The Week

By Aebra Coe and Kevin Penton

Lawyers from Latham & Watkins LLP and Proskauer Rose LLP kick off this week's Law360 Legal Lions, with a jury decision ending a $500 million antitrust lawsuit against their clients, U.S. Soccer and Major League Soccer.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

General counsel will be scrutinizing their companies' DEI policies after U.S. Attorney General Pam Bondi directed the U.S. Department of Justice to probe and penalize illegal diversity policies in the private and public sectors. Outside the DOJ, legal professionals, including in-house attorneys, reported high job satisfaction in a recent survey, likely leading to lower turnover. These are some of the stories in corporate legal news you may have missed in the past week.​

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UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

This past week in London has seen Investec Bank PLC sue two diamond tycoons, London florist Nikki Tibbles file a claim against an "imitator company," a direct descendant of the Cartier family launch a claim, and a Coronation Street actor hit footballer Joe Bunney with a defamation claim. Here, Law360 looks at these and other new claims in the U.K.

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In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

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