Am Law 100 Firm Leaders Weigh In on Milbank Raises: The Morning Minute
The news and analysis you need to start your day.
November 14, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
OUT FROM UNDER THE INFLUENCE - OK, for those keeping score at home: so far this fall, we've had the Big Law firm associate raise announcement, the questions of whether more firms will follow and the blowback from clients who are worried about rate increases. You know what that means: it's time for other firm leaders to chime in. But while this cycle may feel familiar, the perspective of some law firm heads this year does seem to have shifted. As Law.com's Justin Henry reports, while top 50 firms raising associate pay historically would have had more of a ripple effect on the rest of the 200, some leaders in the lower half of the rankings no longer feel as much competitive pressure because the market has become so stratified.
CAN THAT BE ARRANGED? - Speaking of déjà vu: for well over a decade now, as clients have gotten more sophisticated and the cost of doing business has risen significantly, AFAs have been touted by some as having the potential to unseat the billable hour. But, during that time, widespread adoption has been hindered by cultural obstacles and complexities in negotiating and managing agreements. Now, though, after all the transformation the industry has undergone in the past few years, what's holding back AFAs? Well… cultural obstacles and complexities in negotiating and managing agreements. But, as some analysts told Law.com's Hugo Guzman, advocacy and education by and for both law firms and their clients can go a long way toward making AFAs palatable.
ON THE RADAR - Kasowitz Benson Torres partner Robert Bosslet has entered an appearance for Ford Motor Co. in a consumer class action related to an alleged transmission defect. The action, filed Sept. 27 in California Central District Court, is part of a wave of cases alleging that 10R80 10-speed transmission systems in certain Ford vehicles have a defect which causes the vehicles to jerk, lunge, clunk, surge or slip between gears. The putative class is represented by Milberg Coleman Bryson Phillips Grossman, Wallace Miller; Brent Coon & Associates; and the Carlson Law Firm. The case, assigned to U.S. District Judge George H. Wu, is 2:23-cv-08070, Caitlin Butler et al v. Ford Motor Company. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.
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