What Law Firms' Huge Profit Growth Says About Their Clients | Litigators Gearing Up for PPP Loan Fraud Cases | Big Tech Sues Over New Maryland Tax Law: The Morning Minute
The news and analysis you need to start your day.
February 19, 2021 at 06:00 AM
5 minute read
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WHAT WE'RE WATCHING
RELATIONSHIP BUSINESS - Some law firm leaders might still be a little skittish to publicly discuss what turned out to be one heck of a good fiscal year, especially at a time when many of their clients continue to experience pandemic-related financial stress. But, as Christine Simmons writes in this week's Law.com Barometer newsletter, law firms' impressive 2020 financial results actually vindicate the strength of their client relationships, especially during crises, and how they can be relied on going forward. Sure, the eye-popping profit growth was helped by firms' deep cost-cutting measures and tight control of their equity partner ranks, but some of it also arose from clients' willingness to pay more for partners' expert advice, instead of leaning on associates. The question now is whether a similar dynamic will play out as we head deeper in 2021 and the pandemic (hopefully) begins to wane. To receive the Law.com Barometer directly to your inbox each week, click here.
SCAMMER SEASON - For government prosecutors and white-collar defense lawyers, predicting litigation trends requires a health dose of skepticism about the inherent goodness of humanity. With Round 2 of the Small Business Administration's COVID-19-inspired Paycheck Protection Program now underway, government and private litigators alike are gearing up for an influx of fraud claims alleging individuals and entities gamed the system to receive pandemic relief money they weren't eligible for. In this week's Law.com Litigation Trendspotter column, we look at how the U.S. Department of Justice is planning to crack down on PPP fraud and what defense lawyers in the private sector are doing to prepare.
TECH FOUL? - McDermott Will & Emery and the U.S. Chamber Litigation Center sued Maryland Comptroller Peter Franchot on Thursday in Maryland District Court over a new state tax on digital advertising revenue. The suit, brought on behalf of the U.S. Chamber of Commerce, the Internet Association, NetChoice and the Computer & Communications Industry Association, contends that the measure, enacted on Feb. 12, is intended to penalize large tech companies. The case is 1:21-cv-00410, Chamber of Commerce of the United States of America et al v. Franchot, in his official capacity as Comptroller of the State of Maryland. Stay up on the latest deals and litigation with the new Law.com Radar.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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