Keep your finger on the legal world's pulse

Following Donald Trump's re-election, leaders across major law firms have shared their perspectives on the anticipated business and regulatory shifts for the legal industry. Brad Karp, chairman of Paul, Weiss, highlighted potential benefits for M&A amid reduced regulations. Brownstein Hyatt's Will Moschella predicts a fast-moving regulatory reform agenda, particularly around energy. Hogan Lovells’ Aaron Cutler expects a busy period for international trade groups due to Trump’s potential use of tariffs. Key areas under scrutiny include antitrust, with McDermott Will’s Jon Dubrow anticipating changes at the FTC and SEC, and energy, where Baker Botts’ Elias Hinckley foresees continued work under the Inflation Reduction Act, and for the relaxation of fossil fuel regulations. Tax impacts were noted by Orrick's Jessie Gaston and Sidley Austin’s Ken Daly expects high demand in protectionist policy areas. White-collar enforcement is likely to narrow, says Stradley Ronon's Michael Engle, while Cozen O'Connor’s J. Bruce Maffeo foresees relaxed attention toward crypto. Legal recruiters at Eversheds Sutherland and Eversheds’ Neal Higgins anticipate shifts in government lawyer mobility and artificiai intelligence regulatory policy. Finally, Obermayer's David Nasatir and Baker & Hostetler's James Sherer note industry-wide uncertainty, with the latter expecting heightened state-level legislative activity. 

 

Law.com

President-elect Donald Trump may have the opportunity to appoint two justices to the U.S. Supreme Court if Justices Clarence Thomas and Samuel Alito choose to retire. Potential nominees include Judge Stuart Kyle Duncan, known for his controversial stance on transgender issues, and Judge Andrew S. Oldham, a former counsel for Texas Gov. Greg Abbott. Other potential candidates include Judges James C. Ho, Amul Thapar, and Joan Larsen. Notably, Judge Lawrence VanDyke received a “not qualified” rating from the ABA for his temperament. Confirmation of these nominees could be facilitated by a Republican-controlled Senate, with Sen. Chuck Grassley (R-IA) expected to reclaim his role as chair of the Senate Judiciary Committee. As Grassley stated: “Confirmation of Trump’s judicial nominees will be easier when Republicans take control of the U.S. Senate.”

 

ABA Journal

Following Donald Trump's election victory, his legal challenges are set to intensify. Trump is due for sentencing on November 26 for falsifying business records related to a hush money payment, but his lawyers are likely to seek delays. Additionally, Trump faces multiple criminal cases, including attempts to overturn the 2020 election results and handling classified documents. The ongoing legal battles may not only affect Trump but also his co-defendants, as the election interference case continues to unfold.

 

ABA Journal

California Gov. Gavin Newsom and Attorney General Rob Bonta are preparing for potential legal clashes with the Trump administration on issues including immigration, abortion, and workplace law. Newsom’s statement emphasized California's commitment to upholding the rule of law and defending federalism. Newsom and Bonta, who both have future political aspirations, aim to protect California’s progressive policies. Bonta is reviewing Trump-aligned Project 2025 in anticipation of conflicts over immigration laws, reproductive rights, and workplace regulations. California may challenge anticipated rollbacks on worker protections and resist Trump’s calls for mass deportations, signaling the state's readiness for renewed legal battles.

 

The Recorder

DLA Piper attorneys Ilana H. Eisenstein, Peter Karanjia, Samantha Chaifetz, and Ben Fabens-Lassen analyze significant U.S. Supreme Court rulings that curtail the power of federal regulators, potentially reshaping the regulatory landscape for decades. Key cases include Loper Bright Enterprises v. Raimondo, where the court dismantled the long-standing Chevron deference, allowing courts to interpret laws without deferring to agency expertise. In SEC v. Jarkesy, the court ruled against in-house agency enforcement without jury trials, a blow to the SEC’s administrative proceedings. Other landmark cases, such as Axon Enterprise v. FTC and Corner Post v. Federal Reserve, further empower businesses to challenge federal regulations in court. The cumulative effect of these rulings signals an era where regulatory bodies face increased scrutiny and constraints, encouraging businesses to evaluate potential legal avenues against overreaching agency actions.

 

The Legal Intelligencer

The rise of nonequity partners in law firms has led to significant tax burdens without the corresponding profits enjoyed by full partners. Financial planner Eric Scruggs highlighted that “the increase in total compensation from the bump in salary and bonus potential is washed out,” as these partners face higher health and tax expenses. Nearly half of the partners at the 200 largest law firms were classified as nonequity partners last year, up from 40% in 2013. Some firms, like McDermott Will & Emery, have shifted to W-2 forms to alleviate these issues, while others continue to issue K-1 forms, leading to dissatisfaction among some partners. The ambiguity in the Internal Revenue Code allows firms to save millions by classifying nonequity partners as K-1 filers, resulting in increased financial strain for these lawyers.

 

Lawyer Monthly Magazine

In a Q&A with Litigation Daily, Laura Hoey, co-leader of Ropes & Gray's global litigation and enforcement practice, discusses how the firm’s deep industry knowledge across private equity, healthcare, life sciences, and asset management sets them apart. Hoey, alongside co-leaders John Bueker and Gregg Weiner, emphasizes the importance of collaboration within the firm to meet clients’ needs across a diverse range of litigation and enforcement matters. Hoey highlights notable recent victories, including key antitrust dismissals for Welsh, Carson, Anderson & Stowe, and a win for Eaton Vance Funds in a Massachusetts Superior Court ruling against activist hedge fund manager Saba Capital. The firm’s strategic and industry-focused approach continues to drive its success in high-stakes litigation.

 

The AM Law Litigation Daily

In the wake of President-elect Donald Trump’s victory, New York Gov. Kathy Hochul and Attorney General Letitia James have launched the Empire State Freedom Initiative to protect reproductive rights, gun safety laws, and civil rights in anticipation of potential federal challenges. This comes as New York voters overwhelmingly passed Proposition 1, amending the state constitution to enshrine the right to choose and expand civil-rights protections. Kimberly Wolf Price of Bond, Schoeneck & King noted that while the amendment aligns with New Yorkers' values, it may still prompt some legal challenges, especially as federal policies shift under the new administration.

 

New York Law Journal

Planned Parenthood's Missouri affiliates have initiated a lawsuit against the state to challenge various medically unnecessary restrictions on abortion access. This legal action follows a recent vote by Missourians to amend the state constitution, affirming the right to reproductive freedom, which takes effect on December 5. The amendment states that any “denial, interference, delay, or restriction of the right to reproductive freedom shall be presumed invalid.” The plaintiffs argue that the state has no compelling interest in maintaining provisions that delay legal abortions, as such delays can harm patients' health. They seek a court declaration to render these provisions unconstitutional, asserting that without this relief, patients “will be unable to exercise their constitutionally protected right to reproductive freedom.” The case is Comprehensive Health of Planned Parenthood Great Plains v. State of Mo., filed in the Missouri Circuit Court for Jackson County.

 

Bloomberg Law

Fulbright & Jaworski L.L.P. has been recognised for its outstanding online presence, winning the 2004 Best Large Law Firm Web Site Award from Law Office Computing Magazine. Linda L. Addison, Fulbright's Technology Partner, stated, “We approached our web site the way we approach our clients' legal matters. First, we listened.” The site, which features multilingual content and innovative tools like vCard technology, aims to enhance client communication and service. The firm has also been named among the top 20 corporate law firms in the U.S. by Corporate Board Member magazine. With a commitment to client needs, Fulbright's website continues to evolve, incorporating feedback to improve user experience and accessibility.

 

LawFuel

California's landmark carbon emissions disclosure requirements are for now to move forward as planned after a judge declined a request by the U.S. Chamber of Commerce and other trade groups to strike them down on First Amendment grounds. U.S. District Judge Otis Wright II said that he needs more information before he can decide whether the proposed reporting regime, which will require large businesses to disclose detailed information on their carbon emissions and climate-related risks, violates businesses’ First Amendment rights against compelled speech. Wright’s ruling only deals with First Amendment-related arguments, and the disclosure requirements continue to face legal threats, the Wall Street Journal notes.

 

Wall Street Journal

JPMorgan Chase has agreed to pay $100m to settle charges from the Securities and Exchange Commission (SEC) regarding misleading disclosures related to "conduit" products. These products pooled customer funds for investment in private equity and hedge funds. The SEC's announcement on Thursday detailed that the settlement includes a $10m civil fine, with the remaining $90m earmarked for distribution to affected conduit investors. As part of the agreement, JPMorgan accepted a censure but did not admit or deny any wrongdoing.

 

Reuters

Data reviewed by Reuters indicates many U.S. companies are bolstering their social and climate reporting in the face of sustained pressure from conservative politicians. Analysts said the trend shows the importance investors and regulators now place on ESG issues amid rapid global warming and shifting workforce demographics. "Most ESG problems are business problems. I'm an accounting professor. I can tell you that if you pick any company's 10K and look at the risk factors, they are full of E and S problems," said Shiva Rajgopol, who teaches at Columbia Business School. However, Reuters notes that some political conservatives say such attention is misplaced or worry the disclosures could provide activists with leverage to force companies to make unnecessary changes.

 

Reuters