As the 2023 ABA Profile of the Legal Profession reveals, civil legal aid lawyers are in short supply across the United States. According to the 142-page report, even though there are 1.3 million lawyers in the U.S., nationwide there are still only 10,000 paid civil legal aid lawyers, or about three for every 10,000 people in poverty.
Updated: Reed Smith has confirmed that it is changing the compensation structure for associates, but it’s not getting into specifics after a leaked memo said the law firm was creating two tiers of associate pay based on billable hours.
The three law firms that successfully sued to overturn SpaceX owner and Tesla CEO Elon Musk's $55.8 billion Tesla compensation package are seeking attorney fees payable in company stock worth more than $5.6 billion.
Founded in 2017, Substack, which is a publishing platform open to anyone and everyone who has something to write, has recently attracted a slew of lawyers and attorney-adjacent writers who realized how much it could help their careers.
A federal judge in New York City has reduced a law firm’s fee request by about half after criticizing its use of the artificial intelligence tool ChatGPT-4 as a “cross-check” to determine prevailing market rates for attorneys.
Updated: Cravath, Swaine & Moore lost three partners to competitor law firms in January, illustrating that “Cravath is now in the ranks of other New York firms that routinely see partnership shuffles,” according to an article from Law.com.
Lawyer head count is growing, while productivity is declining, according to a year-end survey of more than 130 larger law firms released this week by Wells Fargo’s Legal Specialty Group.
Quinn Emanuel Urquhart & Sullivan must disclose terms of judgment preservation insurance that it allegedly bought before distributing a $185 million fee award to partners, according to a U.S. Court of Federal Claims judge.
More than 50 law firms have announced increases in associate pay since Cravath, Swaine & Moore set the standard by increasing salaries by $10,000 to $20,000.
Shearman & Sterling has approved cuts to its pension program before the successful vote to merge with Allen & Overy, according to reporting by Law.com.
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