Keep your finger on the legal world's pulse

A March report by Goldman Sachs predicted that 44% of legal work can be automated using emerging AI tools. The same month, a paper by researchers at Princeton University, the University of Pennsylvania, and New York University found that the legal industry is among the most exposed to occupational change from generative AI. Global firm Allen & Overy said thousands of lawyers are now using its tool using GPT-4 technology called Harvey for tasks such as legal research, drafting documents and contract analysis. Meanwhile, LexisNexis announced last week it has created a platform using GPT technology, as well. The company said it teamed up with some of the country’s largest firms, Baker McKenzie, Reed Smith and Foley & Lardner. This year, Fortune 50 companies such as Microsoft and Ford Motor tested a product called CoCounsel, which harnesses GPT-4 technology to prepare depositions, perform contract analysis and quickly complete legal research. Top law firms were also part of that beta group, including DLA Piper, Kirkland & Ellis, Skadden, Arps, Slate, Meagher & Flom and Orrick Herrington & Sutcliffe. Some firms and legal observers acknowledge that the billable hour could become passé if the tools could cut down on the need for some associate work.

 

The Wall Street Journal

U.S. News & World Report released its annual rankings of top law and medical schools on Thursday. After criticizing U.S. News’s rankings for years, many elite law and medical schools decided to boycott the 2023-24 rankings by refusing to hand over data, saying that the rankings were unreliable and unfair, skewing education priorities. This year's law rankings were based on American Bar Association figures and reflect data as of 20 April. There wasn't much movement among the top 10 law schools. Yale Law School once again took the top spot, but this time tied with California-based Stanford Law School. The University of Chicago Law School maintained its No. 3 rank, followed by the University of Pennsylvania Carey Law School at No. 4 – previously ranked at No. 6. The Law School at Columbia University is ranked slightly lower this year, now placing at a tie for No. 8 (previously tied at No. 4). Duke University School of Law in North Carolina reentered the top 10 this year, moving up from No. 11 to tie with Harvard Law School and New York University School of Law at No. 5.

 

The New York Times

Reuters

U.S. News

U.S. Circuit Judge Pauline Newman of the Federal Circuit sued the appeals court’s chief judge, Kimberly Moore, and two other colleagues late Wednesday, claiming they violated her constitutional rights and unlawfully sidelined her from the court’s business. Newman, 95, is under investigation after a three-judge committee determined that she may suffer a disability that interferes with her responsibilities as a judge and after she refused a medical evaluation, according to Federal Circuit orders released last month. She denied having any physical or mental impairment and seeks to halt the investigation or to transfer the probe to a different court. The lawsuit, filed in Washington, D.C., federal court, asks a district court to exercise authority over a judicial investigation of a sitting federal judge, a situation with few, if any, parallels in recent history. Legal experts said Newman may have a strong case that she has been treated unfairly during the probe, but that getting an outside court to intervene will be a challenge.

 

Reuters

Despite Republican attacks on ESG, law firms remain committed to sustainability practices. Some states have proposed or even passed laws limiting investments in ESG, but others believe they have little impact. The pressure being put on ESG seems to be having an opposite effect, spurring business for sustainability lawyers. Even oil and gas companies are sticking to their own ESG promises, partially because of how much they have already invested into their own efforts. ESG efforts are becoming important to attract both clients and talent. A Lamp House Strategy study found that 92% of law firm clients polled believed organizations need to prioritize ESG, while 51% asked firms to report on specific ESG metrics.

 

Law

Robin AI, a generative AI-based contracts platform, has launched automated contract drafting module Draft, which at the point of release will be free to use for small businesses. Draft uses conditional logic and fits into Robin AI’s modular contracts offering. Robin AI has three modules: Draft, for creating contracts from templates; Review, for editing contracts during negotiations; and Query, which is a searchable contract repository powered by AI. In February, Robin AI raised $10.5m led by Plural, with participation from Episode 1. Other investors in the round include angel investor Tom Blomfield and senior executives across the legal and private equity industries from Bridgepoint, Apollo, and Barings. The latest enabled the partial acquisition of competitor LawGeex, whose customers include UBS, PwC, eBay and PepsiCo.

 

Legal IT Insider

Indicted FTX founder Sam Bankman-Fried has asked a judge to designate FTX’s current leadership and the exchange’s attorneys at law firm Sullivan & Cromwell as part of the “prosecution team” in the criminal case against him. Sullivan & Cromwell, a prominent Wall Street law firm, represented FTX on transactions and regulatory matters before its collapse last year. The firm secured court approval in January to advise FTX in its bankruptcy, overcoming objections from some FTX creditors and U.S. lawmakers that its past work created a conflict of interest. If the judge grants Bankman-Fried's request to designate them as part of the prosecution, they would be required to turn over any documents relevant to the case, including evidence that potentially bolsters Bankman-Fried’s defense.

 

Reuters

A former Coinbase worker has been handed a two-year prison term in the first cryptocurrency insider-trading case. Ishan Wahi had previously admitted to passing on confidential information from the crypto exchange to his brother and a friend, who profited from the tips. The tip recipients, who where co-defendants in the case heard in a New York federal court, used the information to trade on digital tokens, accruing nearly $1.5m in profits, according to federal prosecutors from the Manhattan U.S. attorney’s office. In handing down the sentence, U.S. District Judge Loretta Preska said Mr. Wahi repeatedly provided tips, despite being aware his actions were illegal.

 

Wall Street Journal

A California woman suing Subway, claiming its tuna products contain ingredients other than tuna, wants to end her lawsuit because she is pregnant, prompting Subway to demand her lawyers be sanctioned for bringing a frivolous case. Nilima Amin said her "severe" morning sickness and "debilitating" conditions as she prepares for a third child have left her "unable to proceed with the obligations as plaintiff," and require her to focus on her health and family. Ms. Amin wants to dismiss the case in San Francisco federal court without prejudice, which would let her sue again when she feels better. However, the chain says the "media frenzy" from the lawsuit caused severe harm, and faulted Amin's "ever-changing" theories to debunk its claim that its tuna sandwiches, salads and wraps contained "100% tuna." Subway wants Amin's proposed class action dismissed, and her seven lawyers to pay at least $618,000 of its legal bills.

 

New York Post

Reuters

A trio of lawyers catering to high-net-worth clients have found a new home at McDermott Will & Emery, bringing over their practice from Stroock & Stroock & Lavan. Partner Anita Rosenbloom, who was chair of Stroocks' private client services group, joins McDermott in New York alongside counsel John Kiely, while partner Jay Scharf will sit in the firm's Miami office. Other big law firms have in the past year added lawyers to private client services groups. Earlier this week, Lowenstein Sandler grew its practice with partners Megan Wernke and Beth Shapiro Kaufman, who joined as chair of its 30-lawyer private client services group. The pair joined with two associates in Washington, D.C. from local firm Caplin & Drysdale. McDermott's 110-lawyer private client practice group, which about a month ago also brought on fiduciary litigation partner Robert Barton from Holland & Knight in Los Angeles. New York-founded Stroock, which has about 230 lawyers, has seen other recent departures, including a 10-lawyer financial services team that decamped to Morgan, Lewis & Bockius last week.

 

Reuters

K&L Gates has announced the addition of Naoki Kawada as a corporate partner and Ryan Keech as a partner in the intellectual property practice in Los Angeles. Kawada, who previously served as the firmwide chair of the Japan practice at Perkins Coie, will handle cross-border corporate, commercial, technology, and intellectual property transactions, and provide general labor and commercial transactional advice. Keech, who joins from Ellis George Cipollone O'Brien Annaguey, will focus on entertainment, business, and non-patent intellectual property disputes. He also previously served as in-house counsel for the Alliance of Motion Picture and Television Producers. "

 

Bloomberg Law