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Top StoriesTuesday, February 14, 2012

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Justice Department Pitches Budget That Focuses on Financial Fraud

The Justice Department's proposed $27.1 billion budget for 2013 includes bolstering the ranks of prosecutors across the U.S. to step up civil and criminal enforcement in the financial and mortgage fraud arena. DOJ officials on Monday outlined $55 million in new spending to combat securities and mortgage fraud, including hiring 184 attorneys. Officials said the department is looking to cut more than $196 million from the overall budget through savings in information technology, overhead reductions and realigning components.

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DLA Piper's Browning Marean on E-Discovery Proportionality

Browning Marean, senior counsel at DLA Piper, speaks to LTN magazine's editor-in-chief, Monica Bay, about the challenges of fashioning responses to discovery requests that are appropriate -- and proportional -- to a case.

Crowell Loses Financial Services, International Arbitration Practice Leaders

Crowell & Moring is losing a slew of lawyers, with former financial services chair William O'Connor leading a group to Thompson & Knight this week, while international arbitration chair Arif Hyder Ali and three other partners from his group are headed to Weil, Gotshal & Manges within the next two weeks.

Supreme Court Justice Robbed by Machete-Wielding Intruder

Justice Stephen Breyer's encounter with a machete-wielding robber at his Caribbean vacation home resurrects the perennial question of how much security protection Supreme Court justices should have. An ABC News report said it did not appear that Breyer, who was uninjured, was targeted specifically.

Obama Proposes 15 Percent Budget Increase for Legal Services

President Obama has urged Congress to give the Legal Services Corp. $402 million for fiscal year 2013, a 15.5 percent increase over its current budget. Though the new figure is about $70 million below what LSC requested, a spokeswoman said the agency is "very encouraged by the president's number."

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Love and Subpoenas Are in the Air for Match.com Legal Department

The run-up to Valentine's Day is a lively time for Match.com -- but it's always busy season for the company's general counsel, who says that, due to the wealth of data Match.com collects from users, the company receives subpoenas and requests for information for civil or criminal cases on an almost daily basis.

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The Power of Hope

The American Lawyer

While the nation's 100 highest-grossing firms rebounded from a disastrous 2009 by posting healthy gains in 2010, gains at the Second Hundred were less robust. The Second Hundred's total gross revenue rose 2.2 percent, to $17.46 billion in 2010 from $17.08 billion in 2009, while average revenue per lawyer increased just 1.5 percent, to $579,749 from $570,999. Average profits per partner rose 3.4 percent, to $665,665 from $643,580. So why aren't they worried?

 

The 2011 AmLaw 200

 

Gross Revenue

 

RPL Top 20

 
VIEW ALL OF THE "AMLAW 200"
Am Law 100 2011

The American Lawyer

After watching profits per partner sink 4.3 percent in 2008 and revive only 0.3 percent in 2009, Am Law 100 firms finally posted a healthy increase—8.4 percent—in 2010. But much of that gain is attributable to firms’ aggressive cost-control measures, especially in the area of headcount, which dropped 2.7 percent over 2009. As a result, growth in revenue per lawyer—the most reliable measure of the overall financial health of law firms—was more tepid, 4.4 percent

 

Overview: Back in Black

 

Gross Revenue

 

Revenue Per Lawyer

 
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NLJ 250

The National Law Journal

The NLJ 250, The National Law Journal's annual survey of the nation's largest law firms, shows that Big Law continued to shed lawyers at a brisk clip in 2010. Nearly 2,900 fewer lawyers worked for the 250 top firms last year. That's in addition to the approximately 6,600 attorneys who departed in 2009. In the 34 years The NLJ has been surveying large firms to gather headcount numbers, there have never been multiyear declines of this magnitude.

 

THE 2011 NLJ 250

 

Branch Offices

 

Gains & Losses

 

Largest U.S. Law Offices

 
VIEW ALL OF THE 'NLJ 250'
Corporate ScorecardIllustration:Tavis Coburn

The American Lawyer

Since the early days of our survey, which ranks the world's largest law firms by revenue, international reach and profit have seemingly grown hand in hand. But when one examines the performance of individual firms in 2010 or charts their performance over time, it is unclear if there is truly a causal relationship between global expansion and financial success. Star performers can be found among the most stubborn homebodies and the most persistent imperialists.

 

The 2011 Global 100: Most Revenue

 

The 2011 Global 100: Most Profits Per Partner

 

The 2011 Global 100: Most Lawyers

 
VIEW ALL OF "GLOBAL 100 2011"
 
 
 
 
 

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Bass, Berry & Sims Opens D.C. Office

The National Law Journal

Bass Berry & Sims is opening a Washington, D.C., office -- the 220-attorney firm's fourth office and its first outside of Tennessee -- with former Fulbright & Jaworski partner John Kelly as its local managing partner. The firm's managing partner said it is looking to expand in Washington, particularly in the health care domain.

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