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Conservative U.S. Supreme Court justices today signaled skepticism regarding the legality of certain proceedings that the SEC conducts in-house without a jury to enforce investor-protection laws and impose penalties, in a case that could undercut the power of federal agencies. More top news: |
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Cravath, Swaine & Moore told its lawyers that associates will receive seniority-based raises ranging from $10,000 to $20,000, bringing their base salaries to between $225,000 and $420,000. The Cravath increases exceed raises announced three weeks ago by its rival Milbank. Cravath also unveiled year-end bonuses of $15,000 to $105,000 tied to associate class year, matching those offered by Milbank.
Large law firms increased their revenues close to 5% on average through the third quarter of 2023, buoyed by fast-growing lawyer billing rates that have helped offset expenses, a Wells Fargo survey found. Read more about the pay increases.
More from the legal industry …
A majority of would-be attorneys want to attend law school with like-minded classmates … The U.S. Senate confirmed two Biden nominees … The Texas state bar urged the state high court not to block an ethics case against Brent Webster, the top lieutenant to Attorney General Ken Paxton … A white, heterosexual, male law student who sued New York University claiming that its flagship law review is discriminatory may proceed with his case anonymously … A group of state supreme court justices and state court administrators from across the country will examine lawyer licensing … A federal appeals court says it expects a judge to "promptly" issue a ruling after a five-year delay in a fees dispute between three law firms … A federal judge rejected North Carolina Supreme Court Justice Anita Earls' bid to block an ethics probe over her comments on the lack of diversity in the state's courts … The California Supreme Court adopted a package of ethics reforms for the state bar … Quinn Emanuel signed a lease for an office in Manhattan, as its work-from-anywhere policy remains intact after the pandemic … Evolving U.S. energy policy is continuing to drive demand for legal advisers.
Moves: - In New York …
Cahill turned to Frank Weigand, a longtime in-house lawyer, to lead a newly launched trading and markets practice … Investment funds partner Anna Rips joined Paul Hastings after more than 17 years at Skadden.
- In Washington, D.C. …
David Lynn, the leader of Morrison Foerster's public company advisory and governance practice, moved to Goodwin Procter to lead a similar practice there … Akin hired energy transactions partner Vanessa Richelle Wilson from DLA Piper … Hogan Lovells hired Michael Bonsignore from Clifford Chance as a partner in the firm’s corporate and finance practice group.
- In Los Angeles …
Willkie added litigation partner Michael Rome, who was previously a regulatory and litigation counsel at Google … Emerging companies and venture capital partner Paul Navarro rejoined Perkins Coie from Morrison & Foerster, to lead a practice serving Latin America.
- In Boston …
Nelson Mullins brought on partner Benjamin Hron for its venture capital and technology team … Foley Hoag expanded its technology group with the addition of IP partner John Lanza, weeks after a team led by partner Amy Baker Mandragouras arrived from Cooley.
- In Chicago …
K&L Gates added Kevin Gustafson as a partner focused on asset management and investment funds. Gustafson previously was general counsel at Innovator ETFs.
- In Philadelphia …
Life sciences IP attorney Christopher North joined Panitch Schwarze’s patent team as counsel.
- In Seattle …
Kilpatrick Townsend brought on energy partner John Pierce from Stroock.
- In Atlanta …
Barnes & Thornburg hired litigation partner Dan Cohen from Nelson Mullins.
- In Minneapolis …
IP partner Luke Toft rejoined Fox Rothschild. He was previously director of IP at Sleep Number.
- In Columbia, South Carolina …
Matthew Gissendanner, the former senior counsel for Dominion Energy, joined Baker Donelson's energy practice as of counsel.
- In London …
Paul Weiss hired IP and technology transactions partner John Patten from Kirkland … Kirkland picked up tax partner Ceinwen Rees from Macfarlanes.
- And finally …
Katten tapped Chicago leader Gil Soffer as its next chair … Akerman promoted 15 lawyers to partner.
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In February 2021, the start-up crypto law firm then known as Roche Cyrulnik Freedman ousted name partner Jason Cyrulnik, a former Boies Schiller Flexner partner who had been the firm’s highest-paid attorney in 2020. There are two wildly divergent accounts of the events that led to Cyrulnik's departure – one in which Cyrulnik was the victim of greedy young partners who stabbed him in the back when crypto boomed; the other in which Cyrulnik was such a toxic presence that his partners had to kick him out to avert a mass exodus. After a new decision denying summary judgment to both sides, it will now be up to a jury to figure out whose account is true. Alison Frankel has the story.
Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu
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Additional writing by Kuheli Biswas, Renuka Rath and Tanvi Shenoy. |
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