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Competitive intelligence and news on billing rates, evolving rate pressures and alternative pricing.
By Dan Roe | July 9, 2023
A complaint filed this week alleges Wachtell added a $71 million success fee to accrued hourly billables, which lame-duck in-house counsel approved against Musk's orders.
3 minute read
By Dan Roe | July 7, 2023
A complaint filed this week alleges Wachtell added a $71 million success fee to accrued hourly billables, which lame-duck in-house counsel approved against Musk's orders.
3 minute read
By Alexander M. Geisler | July 7, 2023
The problem isn't that economies are cyclical, that's a fact of life. The problem here is that Big Law can sometimes have unrealistic reactions to both upturns and downturns. If this happens, it's not in the interests of their own attorneys or their clients. It's inhumane and unhealthy.
4 minute read
By Adolfo Pesquera | June 30, 2023
The decision could affect multiple mass-tort disputes and fee fights, including litigation involving the Houston Astros and attorney fees in lawsuits over Paxil medication.
6 minute read
By Michael A. Mora | June 14, 2023
"A client can decide to pay for a Ferrari in order to get from Point A to Point B, but the losing party only has to pay for a Ford," said Edward Mullins, a partner at Reed Smith not involved in the matter, in characterizing the federal judge's reasoning on the attorney fees ruling.
4 minute read
By Dan Roe | June 2, 2023
As law firms wait and see whether the economy picks up in the third quarter, associates at risk of layoffs are feeling the other side of the billable hour's wrath.
6 minute read
By Jessie Yount | May 30, 2023
Firms are taking varied approaches to billing rate increases, weighing client incentives and the cost of inflation.
5 minute read
By Dan Roe | May 30, 2023
"Frankly, I do not give assignments to associates and junior partners who are not in the office at least 3 days a week," wrote one Am Law 100 practice leader.
6 minute read
By Colleen Murphy | May 25, 2023
"Based upon our review of the relevant rules, commentary thereto, and case law, there is no rule as rigorous as the one defendants urge us to adopt; there is no specific pronouncement requiring a retainer agreement to explicitly set forth the unit of incremental billing to be used," Judge Maritza Berdote Byrne said. "Defendants urge us to require retainer agreements include disclosure of incremental billing units, although unsupported in our current jurisprudence."
3 minute read
By Andrew Maloney | May 24, 2023
The median hourly rate for partners in M&A shot up the highest, while partners in Chicago, D.C. and LA saw some of the largest increases.
4 minute read
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