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Three outlier megadeals pushed funding for legal technology companies to $1.57 billion in the third quarter of 2024, up from $392.5 million in the same period last year, but the number of mergers and acquisitions fell by about 50%.
This was another action-packed week for the legal industry as BigLaw firms made a slew of hires and a state judge was admonished for lip synching "Jump" by Rihanna in a TikTok. Test your legal news savvy here with Law360 Pulse's weekly quiz.
A $9.5 million deal settled a Delaware Court of Chancery stockholder suit Thursday seeking damages arising from a stock slump following the $883 million blank check company deal that took subprime consumer lender Katapult Holdings Inc. public in June 2021.
Declaring it "a great settlement," a Delaware vice chancellor approved on Thursday a near chart-topping, $125 million deal to end stockholder challenges to Discovery Inc.'s $43 billion merger with AT&T in 2022, an amount eclipsed only by a $148.2 million pretrial deal in a 2016 case.
A slew of lawsuits related to the Gaza war in the Middle East have already yielded mixed outcomes and, in the view of some, contradictory rulings as they've moved through the courts, revealing a tension between free speech and college campus safety while also stoking concerns over the fairness of the judicial system.
Delaware firm Morris Nichols Arsht & Tunnell LLP announced Thursday that it had hired three attorneys who recently completed judicial clerkships.
Amid a number of recent legal challenges, large law firms in the U.S. have amped up many of their environmental, social and governance-related efforts, with particular growth in environmental sustainability action, while areas like diversity, equity and inclusion have been less successful, according to a report out Wednesday that examined firms' public-facing communications.
A Delaware Superior Court judge has tossed a malpractice suit alleging that Frost Brown Todd LLP failed to adequately investigate infringement issues with trademarks a football league sought to use in the relaunch of the United States Football League.
Milbank LLP should be removed as counsel for digital content delivery platform Edgio Inc. in its Chapter 11, the U.S. Trustee's Office told a Delaware federal judge, arguing the firm is conflicted because of its ongoing work representing Edgio directors and officers in various securities suits.
Several law firms this year, including Akin Gump Strauss Hauer & Feld LLP and McDermott Will & Emery LLP, have filled artificial intelligence-focused chief and director roles to keep up with technological advances and client demands, according to legal recruiters.
The full Delaware Supreme Court on Tuesday revived GMG Insurance Agency's malpractice suit claiming Margolis Edelstein's incompetence caused the insurer to have to settle a case for $1.2 million, saying there are still disputed facts about whether the law firm's representation fell below the requisite standards.
Settlements and attorney fee rulings closed the book Tuesday on two GigCapital-related blank check deals that settled before trial in Delaware's Court of Chancery, with a vice chancellor approving combined public stockholder payouts and fee awards of $7.25 million and $2.5 million.
Former employees of the U.S. Marshals Service say that while judicial security has never been more urgent, finding trends is nearly impossible: The way threats against federal judges are tracked has varied so much from year to year, the data is essentially meaningless.
Polsinelli PC announced Monday that it promoted its chief of staff to serve as both its staff lead and as its first chief practice strategy officer, tasking her with managing how its practices work together to benefit clients and promoting innovation through strategies such as the use of artificial intelligence.
Law firm management consultants say they continue to see historic interest among law firms to engage in merger talks, driven further by a spate of big deals announced during the third quarter of the year, but the number of actual combinations inked has remained fairly steady, Law360 Pulse data shows.
Billing rates for the top 100 law firms in the United States surged by 10% from 2023 to 2024, the largest rate hike in the past three years, according to a new research report on Tuesday.
A majority of legal industry employers say that artificial intelligence is changing the skill sets they look for in hiring, according to a report released Monday by business consulting firm Robert Half, with the report also finding that employers prefer to train existing employees than hire externally.
Nearly 60% of general counsel and chief legal officers expect a reduced reliance on outside legal service providers due to generative artificial intelligence — more than double since a 2023 survey showed 25% of respondents would cut the number of law firms they work with in the next year to slash costs, according to data released Monday.
The rapid growth of nonequity partners at major law firms has expanded career options for attorneys, but it also brings distinct challenges as many lawyers in these roles often face extended paths to equity partnership, unclear succession planning, and limited transparency around compensation.
After a brief period of stability in the second quarter, lateral recruitment at law firms has softened once more in the third quarter of 2024, particularly in the hiring of partner candidates, according to recent data from legal data company Firm Prospects LLC.
Mary McQueen, who is retiring after more than 20 years as president of the National Center for State Courts, joined Law360 Pulse for a conversation about transparency and safety in the courts and her legacy at the organization.
Lewis Brisbois Bisgaard & Smith LLP has tapped an attorney with deep experience across multiple government positions, including serving in the White House Office of Management and Budget, to co-chair its administrative law and regulatory practice.
Potter Anderson's representation of IBM in a patent suit and Vedder Price's work on $1 billion pair of drilling contracts lead this edition of Law360 Pulse's Spotlight On Mid-Law Work, recapping the top matters for Mid-Law firms from Sept. 20 to Oct. 4.
After four straight months of employment declines, the U.S. Bureau of Labor Statistics' latest report shows positive signs for the legal industry.
Kramer Levin Naftalis & Frankel LLP and Potter Anderson & Corroon LLP led this week's edition of Law360 Legal Lions after a Delaware federal jury decided on Sept. 27 that Amazon Web Services infringed two computer network patents that were once owned by Boeing, telling the tech giant to pay $30.5 million in damages.
While many lawyers still believe that a manual, document-by-document review is the best approach to privilege logging, certain artificial intelligence tools can bolster the traditional review process and make this aspect of electronic document review more efficient, more accurate and less costly, say Laura Riff and Michelle Six at Kirkland.
Robert Dubose at Alexander Dubose describes several categories of visuals attorneys can use to make written arguments easier to understand or more persuasive, and provides tips for lawyers unused to working with anything but text.
There are major differences between BigLaw and Mid-Law summer associate programs, and each approach can learn something from the other in terms of structure and scheduling, the on-the-job learning opportunities provided, and the social experiences offered, says Anna Tison at Brooks Pierce.
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Ask A Mentor: How Do I Take Time Off?David Kouba at Arnold & Porter discusses how attorneys can prioritize mental health leave and vacation despite work-related barriers to taking time off.
The traditional structure of law firms, with their compartmentalization into silos, is an inherent challenge to mental wellness, so partners and senior lawyers should take steps to construct and disseminate internal action plans and encourage open dialogue, says Elizabeth Ortega at ECO Strategic Communications.
The key to trial advocacy is persuasion, but current training programs focus almost entirely on technique, making it imperative that lawyers are taught to be effective storytellers and to connect with their audiences, says Chris Arledge at Ellis George.
Female attorneys in leadership roles inspire other women to pursue similar opportunities in a male-dominated field, and for those who aspire to lead, prioritizing collaboration, inclusivity and integrity is key, says Kim Yelkin at Foley & Lardner.
Former Assistant U.S. Attorney Moira Penza, now at Wilkinson Stekloff, recalls the challenges of her first case as a civil defense attorney — a multibillion-dollar multidistrict class action against Allergan — and the lessons she learned about building rapport in the courtroom and with co-counsel.
Most legal professionals lack understanding of the macroeconomic trends unique to the legal industry, like the rising cost of law school and legal services, which contributes to an unfair and inaccessible justice system, so law school courses and continuing legal education requirements in this area are essential, says Bob Glaves at the Chicago Bar Foundation.
While the American Bar Association's recent amendments to its law school accreditation standards around student well-being could have gone further, legal industry employers have much to learn from the ABA's move and the well-being movement that continues to gain traction in law schools, says David Jaffe at the American University Washington College of Law.
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Ask A Mentor: How Do I Build Rapport In New In-House Role?Tim Parilla at LinkSquares explains how new in-house lawyers can start developing relationships with colleagues both within and outside their legal departments in order to expand their networks, build their brands and carve their paths to leadership positions.
Piper Hoffman and Will Lowrey at Animal Outlook lay out suggestions for attorneys to maximize the value of their pro bono efforts, from crafting engagement letters to balancing workloads — and they explain how these principles can foster a more rewarding engagement for both lawyers and nonprofits.
Lawyers can use LinkedIn to strengthen their thought leadership position, generate new business, explore career opportunities, and better position themselves and their firms in search results by writing a well-composed, optimized summary that demonstrates their knowledge and experience, says Guy Alvarez at Good2bSocial.
Imposter syndrome is rampant in the legal profession, especially among lawyers from underrepresented backgrounds, leading to missed opportunities and mental health issues — but firms can provide support in numerous ways, and attorneys can use therapeutic strategies to quiet their inner critic, says Helen Pamely at Rosling King.
In 2022, partners considering lateral moves have new priorities, and firms that hope to recruit top talent will need to communicate their strategy for growth, engage on hot issues like origination credit and diversity initiatives, and tailor their integration plans toward expanding partners’ client base, says Gloria Sandrino at Lateral Link.