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07-19-2012

Corporate Counsel Report Shows Drop in Earnings of GCs

Corporate Counsel's latest report on the compensation levels of general counsels (GCs) across the country shows that base pay for GCs declined slightly compared to last year. The average pay now stands at $611,411, a decrease of almost 2 percent. But the bonuses and nonequity incentive pay saw a big....[more]
07-18-2012

Valeo Report Shows Increase In Billing Rate of Associates

The Valeo Halftime Report, which is published by Valeo Partners, shows that the billing rates for associates have increased slightly over the past year.....[more]
07-17-2012

New York Bar Sets Up Task Force to Study Job Market

The New York Bar Association has set up a task force to look into the issue of high unemployment rate among lawyers, especially recent graduates. According to the ABA, only 55 percent of graduates from the class of 2011 found fulltime jobs requiring bar passage nine months after graduation.....[more]
07-16-2012

Former Dewey Partners Mull Response to Clawback Claims

Former partners of now-bankrupt law firm Dewey & LeBoeuf have reacted to claims made by the Dewey estate that they have to pay back $103.6 million in clawback.....[more]
07-13-2012

NALP Report Shows Salaries for Class of 2011 Fell Across the Board

NALP has released more information, following up on its earlier report, regarding the employment scenario for the class of 2011.....[more]
07-11-2012

New Report Says Alternative Fee Model Has Not Caught On

A report from ALM Legal Intelligence, “Speaking Different Languages: Alternative Fee Arrangements for Law Firms and Legal Departments”, shows that the billable hour model is still strong inspite of the slow economy.....[more]
07-10-2012

Weil Gotshal Wants Approval for $431.6 Million Legal Bill

Weil Gotshal & Manges is asking the federal bankruptcy judge in Manhattan to approve a $431.6 million legal bill for its services in representing Lehman Brothers over the latter's bankruptcy case. The bankruptcy was filed on September 15, 2008.....[more]
07-09-2012

Jobs Report Shows Legal Sector Remained Flat in June

The latest jobs report from the Labor Department shows that its not just the general economy which has failed to create enough jobs. There was hardly any jobs growth in the legal sector too. There were around 1.1 million Americans employed in the legal industry in June.....[more]
07-06-2012

“Dewey Effect” Causes Law Firm Mergers to Slow Down

The second quarter of 2012 has resulted in fewer law firms mergers compared to last year. The main reason for this lack of M&As is being attributed to the Dewey-effect says Altman Weil.....[more]
07-05-2012

NY Arbitrator Sides with Law Firm in Case of Retirement Benefits

A NY arbitrator has sided with law firm Stroock & Stroock & Lavan in a dispute over whether the firm should have to pay retirement benefits to an ex-partner who is now working at another law firm.....[more]