Keep your finger on the legal world's pulse

This year brought significant developments for Big Law, including major mergers such as Shearman & Sterling’s union with Allen & Overy, a surge in lateral partner moves, and strategic office expansions in London. At the same time, firms like Milbank closed offices in China, reflecting geopolitical complexities. Despite these shifts, many firms reported robust financial performance, with some projecting double-digit revenue and profit growth. The evolving "free agency" dynamic in lateral hiring saw firms like Paul Weiss and Polsinelli expanding aggressively, while investments in talent and emerging practice areas such as ESG and AI law paid off. Leaders highlighted the need to balance office growth with strategic closures as they adapted to market demands. With inflation stabilizing and borrowing costs improving, leaders are optimistic about a surge in M&A activity in 2025, driven by anticipated regulatory easing under a Trump administration. Firms are also preparing for increased client demand for globally integrated solutions, ensuring they remain competitive in an ever-changing legal landscape.

 

New York Law Journal

Demand for antitrust, intellectual property, and employment lawyers remains strong in California, with Am Law 100 firms actively recruiting lateral talent. Boies Schiller Flexner welcomed IP litigator Enoch Liang in San Francisco, while Skadden hired Bijal Vakil, an IP-focused partner from A&O Shearman, in Palo Alto. Gordon Rees Scully Mansukhani added labor and employment attorney Brian Park in San Diego and commercial litigation partner Curtis Smolar in San Francisco. Reed Smith expanded its tax practice by hiring Saba Shatara, formerly of Deloitte, in San Francisco. Bryan Cave Leighton Paisner strengthened its team with former federal prosecutor Emmet Ong, who joined the San Francisco office after leading nearly 100 civil cases as Assistant U.S. Attorney for the Northern District of California.

 

The Recorder

In a surprising turn during Big Law's bonus season, boutique law firms are outshining their larger counterparts by offering substantial bonuses. Susman Godfrey, a leading boutique firm, is reportedly providing median bonuses ranging from $110,000 to $220,000. Meanwhile, Boies Schiller Flexner is rumoured to be awarding million-dollar bonuses to select associates. In contrast, firms like Perkins Coie and Hogan Lovells are opting out of traditional special bonuses, which typically range from $6,000 to $25,000, as noted in a Bloomberg Law report. Katherine Loanzon from Kinney Recruiting highlights that firms are reassessing their financial strategies, stating: “They're deciding what they can actually afford.” This shift reflects a broader trend where boutique firms, with their lean operations, can afford to be more generous, while BigLaw firms are adapting to a changing economic landscape.

 

LawFuel

As global disclosure requirements expand, organizations face increasing pressure to meet both mandatory and voluntary nonfinancial reporting standards, such as the EU's Corporate Sustainability Reporting Directive. Alissa Lugo, a senior director at Gartner, emphasizes the need for "effective disclosure processes that are efficient, reliable, and repeatable" to mitigate risks like enforcement actions and shareholder lawsuits. GCs must define clear disclosure workflows and evaluate their data management technology strategies. This includes documenting workflows, ensuring accountability, and integrating controls to reduce reporting errors. GCs should collaborate closely with key stakeholders, including the chief information officer and chief financial officer, to enhance data collection and management systems. By following these steps, organizations can create a robust process that delivers high-quality information and minimizes the risks associated with reporting failures.

 

Bloomberg Tax

The Buzbee Law Firm, led by Tony Buzbee, has filed a lawsuit in Harris County accusing Quinn Emanuel Urquhart & Sullivan and Mississippi attorney Marcy Bryan Croft of barratry-solicitation and civil conspiracy. The suit alleges that investigators impersonating Texas officials solicited former Buzbee clients, including Gerardo Garcia, to file legal malpractice suits against him, promising financial gain. Buzbee claims these efforts are designed to damage his firm’s reputation and disrupt its representation of clients in a high-profile New York case involving Sean "Diddy" Combs and Roc Nation, which Quinn Emanuel represents. Both defendants deny the allegations, calling them baseless. The complaint describes a broader scheme allegedly funded by Roc Nation to undermine Buzbee’s legal work.

 

Texas Lawyer

Croke Fairchild Duarte & Beres (CFDB), founded in 2019, is celebrating its fifth anniversary as one of the fastest-growing certified women-owned law firms in the nation. With over 90 attorneys, the firm has recently welcomed seven new litigators, including Holly Harrison, a seasoned professional with over 30 years of experience in complex commercial litigation. Patrick Croke, co-founder of CFDB, said: “As we celebrate five incredible years of growth, innovation, and client service, it's an honour to welcome Holly and these other talented litigators to our firm.” The firm is committed to blending big law talent with boutique service, boasting a diverse team with nearly half of its attorneys being women and 21% from ethnically diverse backgrounds. CFDB aims to address the evolving needs of its clients in a complex legal landscape.

 

LawFuel

The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo, alleging they failed to protect customers from fraud on the Zelle payments platform. CFPB director Rohit Chopra accused the banks of rushing to launch Zelle amid competition, resulting in inadequate fraud protection. The lawsuit claims that customers lost over $870m due to these failures, with more than 900,000 fraud complaints lodged against the banks. Zelle has described the allegations as "legally and factually flawed" and is prepared to defend itself. The case raises questions about the liability of banks in cases of consumer fraud on payment platforms.

 

Financial Times

New York Times

Reuters

A memo, drafted by White House communications director Ben LaBolt and sent to allies of President Joe Biden, outlines plans to take action on issues such as land protections, clemency and artificial intelligence before Donald Trump’s inauguration. It states that “The seeds President Biden and Vice President Harris planted over the past four years are beginning to sprout and their potential will be fully unleashed long into the future.” The memo comes ahead of a number of orders being prepared by the incoming president which are likely to seek to undo many key planks of Biden-era policy.

 

Bloomberg

A trademark infringement case being heard at the U.S. Supreme Court could have serious ramifications in terms of how firms choose to structure their corporate affiliates going forward. Justice Ketanji Brown Jackson commented: “The concern is . . . we do have a constellation of entities all owned by the same individual. The others are profiting. So, it is just the structure of this financial arrangement that is avoiding the ability to recover under the Lanham Act.”

 

Legal Dive

The Department of Justice has filed suit against CVS Health, alleging that the world’s largest pharmacy chain contributed to the opioid crisis by knowingly filling unlawful prescriptions for more than a decade. The newly unsealed complaint in Providence, Rhode Island, federal court alleges that, from October 2013 to the present, CVS violated the federal Controlled Substances Act by filling prescriptions from doctors running so-called pill mills, dispensing large quantities of opioids without legitimate medical reason. The Justice Department also said the violations were driven by company-mandated performance metrics that led to red flags being ignored, leading to overdoses and fatalities. Pharmacy employees alleged that CVS was a “soul crushing” place to work because it was impossible to meet the company’s expectations while performing their jobs safely. “We will defend ourselves vigorously against this misguided federal lawsuit, which follows on the heels of years of litigation over these issues by state and local governments — claims that already have been largely resolved by a global agreement with the participating state Attorneys General," CVS spokesperson Kara Page said in a statement.

 

CNN

Bloomberg

Washington Post

Wall Street Journal

Fuel producers seeking to challenge California's vehicle emissions standards are to have their bid heard by the U.S. Supreme Court. The producers argue that the state lacks powers to set regulations to fight climate change and force a transition to electric cars. Reuters notes that "The Supreme Court, which has a 6-3 conservative majority, has taken a skeptical view toward expansive authority for federal regulatory agencies, and has restricted the powers of the EPA in some important rulings in recent years."

 

New York Times

Reuters

The Occupational Safety and Health Administration (OSHA) has announced a corporatewide settlement with Amazon, ending a number of cases involving accusations of safety violations at 10 warehouses in several states. The company will adopt measures such as adjustable height workstations, ergonomic mats, harnesses and job rotations at all of its fulfilment, sorting and delivery centers and establish a process to review and correct hazards identified by workers. Amazon will also pay $145,000 in penalties, about 90% of what the agency had sought in the underlying cases. The announcement came on the same day that workers at seven of Amazon's U.S. facilities walked off the job to protest what they say is the retail giant's unfair treatment of its employees.

 

Bloomberg

New York Times

Reuters

The Seattle Times