BOUGHT AND OLD - Boomer-aged lawyer exits and the lack of succession planning at smaller and solo firms are great for business… if your business is buying law firms. Over the last two decades, the primary means of growth for California-based CunninghamLegal has been through acquisitions of other trust and estates law firms—23 in total over the last 20 years, CEO Jim Cunningham told Law.com’s Justin Henry. Indeed, the firm owners that have sold to him have been boomer-aged attorneys seeking an offramp from the profession and others accepting judgeships who need to divest from their firm. “People are exiting the practice at the same time as there is a surge in demand,” Cunningham said in an interview this week. “That has resulted in tremendous wage inflation in the trust and estates practice. It’s really hard in many markets to attract and retain talent, so if you’re just a solo practitioner, it makes sense to cut a deal with someone in town to provide a steady stream of work.”
IT’S NOT EASY BEING GREEN - Ask any global company and their legal department, and they will tell you that ESG is a top priority. But, as Law.com’s Heather Nevitt writes in this week’s Barometer newsletter, companies now find themselves in an ESG vise— with global in-house leaders often being the ones squeezed. On the one hand, investors and stakeholders expect ESG progress with measurable KPIs. At the same time, however, plaintiff lawyers and regulators are keeping an eye on companies’ every move, looking for any signs of “greenwashing” through misleading or false statements of their environmental stewardship. “Businesses are tuned into the conduct that puts them in the crosshairs of greenwashing allegations and have adjusted appropriately,” Nevitt writes. “But, views on climate change have evolved rapidly, and as such, we are likely to see continued pressure on businesses to accurately and verifiably disclose the impact of their product or service. Greenwashing litigation will evolve, but in some shape or form is likely to be here for the foreseeable future.” To receive the Law.com Barometer directly to your inbox each week, click here.
ON THE RADAR - QuantumScape, a developer of lithium-metal batteries for electric vehicles, filed a petition in Delaware Court of Chancery on Thursday requesting validation of an Amended Certificate of Incorporation. The petition, which arises from a 2020 shareholder vote on QuantumScape’s de-SPAC transaction with Kensington Capital, alleges that the Delaware Court of Chancery’s Dec. 2022 decision in Garfield v. Boxed Inc. has caused shareholders to challenge the validity of the transaction. According to the suit, at least nine similar petitions have been filed since the Boxed decision. The case is 2023-0157, In re QuantumScape Corp. Stay up on the latest deals and litigation with the new Law.com Radar.
EDITOR’S PICKS
You Might Like
5 minute read
Law Firms MentionedTrending Stories
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
Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends.
Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALM’s deep bench of proprietary information to provide insights that can’t be found anywhere else.
Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms’ financials, staffing, clients, news and events.
April 29, 2024 - May 01, 2024
Aurora, CO The premier educational and networking event for employee benefits brokers and agents. Learn More
May 15, 2024
Philadelphia, PA The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania and Delaware. Learn More
May 16, 2024
Dallas, TX Consulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation. Learn More Truly exceptional Bergen County New Jersey Law Firm is growing and seeks strong plaintiff's personal injury Attorney with 5-7 years plaintif... Apply Now › Shipman is seeking an associate to join our Labor & Employment practice in our Hartford, New Haven, or Stamford office. Candidates shou... Apply Now › Evergreen Trading is a media investment firm headquartered in NYC. We help brands achieve their goals by leveraging their unwanted assets to... Apply Now ›
04/15/2024
Connecticut Law Tribune MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS View Announcement › |
