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As ABA Debates, MDPs Are Spreading
Employment Law Training, the nonlawyer arm of San Francisco-based Littler Mendelson, is rapidly becoming the firm's largest revenue source. The half-owned subsidiary generates $200,000 a month in billings. It's hardly the only success law firms have had with side businesses, despite the supposed ethical restrictions on multidisciplinary practices. A survey by The National Law Journal of the country's largest law firms shows nonfirm businesses thriving.Merck became just the latest healthcare company to strike a major settlement with the Justice Department on Tuesday, agreeing to a $321.6 million criminal fine and a $628.3 million civil settlement to resolve claims over its marketing of the painkiller Vioxx.
It once seemed almost impossible for ARS plaintiffs to make headway in federal court. It's still very tough, but at least there's hope.
'NLJ 250' Shows Strong Law Firm Growth Continuing
The 250 largest law firms in the U.S. grew by 4 percent in 2006, a figure that was just shy of the prior year's gains, according to The National Law Journal's 29th annual survey. The results indicate a "healthy legal economy" spurred by strong mergers and acquisitions activity and big-ticket litigation, said one law firm consultant. And while law firms used to base their mergers on geography and size for size's sake, they now take a much more strategic approach, said another consultant.An AIG subsidiary and its lawyers at Quinn Emanuel claim that Travelers is using a shell company to make arguments that it couldn't make on its own in order to escape liability for a $21 million settlement for a Boston tunnel collapse.
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