DEMAND DESTINATION - Everybody wants a bigger bite of the Big Apple. Law firm leaders, in a recent survey, overwhelmingly picked New York as the top market in which they see demand growth opportunities through 2024, according to a report this week from Citi Private Bank and Hildebrandt Consulting. “If you talk to any law firm, even if they have 300 lawyers in New York, they will say they want to double their size” in New York, said Brad Hildebrandt, founder of Hildebrandt Consulting and a co-author of the advisory published Wednesday, told Law.com’s Patrick Smith. Despite the market’s many challenges for firms looking to expand, it’s not hard to understand why it remains attractive. According to a billing rate report this year from Wolters Kluwer ELM Solutions, non-litigation partners in New York charge an average of $1,189 per hour. “New York is by far and away the most profitable market in the world for law firms and has been for generations,” Paul, Weiss, Rifkind, Wharton & Garrison chairman Brad Karp said in an email. “

FUTURE TENSE - Legal departments would love just one year of predictability when it comes to risk, revenue growth and budgets. Unfortunately, barring a Christmas miracle, 2023 is not going to be that year. As Law.com’s Heather Nevitt writes in this week’s Barometer newsletter, the unknowns around the economy, evolving regulatory and geopolitical landscape and rising stakeholder expectations means that legal chiefs will need to be flexible, agile and exhibit strong leadership next year. Economic uncertainty will force in-house departments to (surprise, surprise) do more with less. But, Nevitt notes, they’ll have to make sure employees feel engaged and included. To receive the Law.com Barometer directly to your inbox each week, click here.

ON THE RADAR - Zendesk, a customer services software company, was hit with a petition for appraisal on Thursday in Delaware Court of Chancery in connection with the company’s Nov. 22 merger with affiliates of Hellman & Friedman and Permira Advisers. The suit was brought by Farnan LLP and Entwistle & Cappucci on behalf of the Arbitrage Fund and other shareholders. Counsel have not yet appeared for the respondent. The case is 2022-1139, Arbitrage Fund v. Zendesk Inc. Stay up on the latest deals and litigation with the new Law.com Radar


EDITOR’S PICKS

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
April 16, 2024 - April 17, 2024
Chicago, IL

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies


Learn More
April 16, 2024 - April 17, 2024
New York, NY

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.


Learn More
April 18, 2024
New York, NY

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!


Learn More

Duane Morris LLP seeks a highly motivated junior associate to join its dynamic and growing Labor and Employment Class Action group in Chicag...


Apply Now ›

Duane Morris LLP seeks a full-time staff litigation attorney who has practiced between 3-5 years. Experience will include drafting motions, ...


Apply Now ›

Duane Morris LLP has an immediate opening for a senior level, highly motivated litigation associate to join its dynamic and growing Employme...


Apply Now ›
04/15/2024
Connecticut Law Tribune

MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS


View Announcement ›
04/11/2024
New Jersey Law Journal

Professional Announcement


View Announcement ›
04/08/2024
Daily Report

Daily Report 1/2 Page Professional Announcement 60 Days


View Announcement ›