Cravath, Swaine & Moore office sign. Photo: ALM Cravath Enters Modern Era of Big Law Amid Regular Rate of Partner Exits
"The tweaking of their model may have stopped some people from leaving, but they don't seem to be leveraging the other aspect of breaking lockstep to expand and grow," noted one observer.
February 02, 2024 at 05:00 AM
8 minute read
The original version of this story was published on The American Lawyer
What You Need to Know
- After modifying its lockstep and creating a nonequity tier, Cravath has continued to see partner exits.
- While Cravath has taken steps similar to other firms, sources said, the firm's less active lateral hiring may be limiting its growth.
- Meanwhile, Cravath's litigation department is entering a new era, after the retirement of Evan Chesler.
While partner lateral exits were once rare at Cravath Swaine & Moore, the firm has continued to see some decamp for competitors, including three in January. The latest exits illustrate that Cravath is now in the ranks of other New York firms that routinely see partnership shuffles.
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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.
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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.
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