CONTINGENCY PLAN - Law firms have been negotiating more fixed and contingency fee arrangements with their clients in the last year or so, firm leaders and consultants told Law.com’s Andrew Maloney, amid a desire for certainty amidst an unsteady economy, along with a pick-up in litigation and Big Law’s growing pricing acumen. Several law firm leaders said they’re getting more revenue from such fee arrangements, or that they’re at least ramping up their ability to put them together. Although the billable hour isn’t going away any time soon, and talk about creative pricing is still arguably much higher than its actual use, law firms are looking for and finding more ways to wring more profits out of more matters. The increasing sophistication of personnel and technology devoted to that endeavor is likely to make it more attractive to charge for value instead of time going forward, too.
ADMIT THE OBVIOUS - A proposal asks a federal judiciary rules committee to adopt a rule under which once an attorney is licensed in a state and admitted to one district court, they could practice in all 94 district courts. Supporters say the proposal will expand access to justice, lessen financial barriers to bringing litigation. Seems logical, no? But, as Law.com’s Avalon Zoppo reports, previous efforts to change federal district court bar admissions requirements for out-of-state lawyers have failed. Why? One theory is that keeping these rules in place also keeps many firms in the lucrative business of serving as local counsel to out-of-state lawyers. “It’s about trying to protect the local club,” said Daniel Shih, a partner at Susman Godfrey’s Seattle office who handles cases around the country and supports the proposal. “Creating these sorts of barriers really promotes the business of those local attorneys. [But] court policy should be not about protecting the business of local attorneys, but for providing access to justice.”
ON THE RADAR - Academy Securities, a veteran-owned and operated investment bank, was hit with a shareholder lawsuit Friday in Delaware Court of Chancery. The suit was filed by Potter Anderson & Corroon and Baker Botts on behalf of former business development director David Myers, who seeks to inspect the company’s books and records. The suit further contends that the company may have failed to provide the plaintiff notice of a shareholders meeting. Counsel have not yet appeared for the defendant. The case is 2023-0241, Myers v. Academy Securities Inc. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR’S PICKS
You Might Like
9 minute read
Trending Stories
More From ALM
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.
Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.
Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.
May 15, 2024
Philadelphia, PA The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware. Learn More
May 16, 2024
Dallas, TX Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation. Learn More
May 23, 2024
London Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures. Learn More Truly exceptional Bergen County New Jersey Law Firm is growing and seeks strong plaintiff's personal injury Attorney with 5-7 years plaintif... Apply Now › Epstein Becker & Green is seeking an associate to joins its Commercial Litigation practice in our Columbus or Cincinnati offices. Ca... Apply Now › Job Opportunity: Location: Prestigious Florida Law Firm seeks to hire a Business attorney with at least 5 years of experience for their Ft. ... Apply Now ›
04/15/2024
Connecticut Law Tribune MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS View Announcement › |
