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Caroline Spiezio

In-house counsel on the move: Carnival taps compliance leader as COVID pummels cruises

9:08pm BST

Companies in sectors shaken by the coronavirus tapped new legal or compliance leaders this week, including a hire by one of the pandemic's earliest and severest economic casualties: Carnival Corp.

Wachtell regains top M&A perch, leapfrogging Latham for now

17 Sep 2020

With the fourth quarter fast approaching, Wachtell, Lipton, Rosen & Katz has passed Latham & Watkins to once again become the top U.S. M&A adviser based on transaction value for 2020, after advising biotech company Immunomedics Inc on its agreement to be acquired by Gilead Sciences Inc for $21 billion.

Pandemic widens associate pay gaps as some firms offer extra while others cut back

17 Sep 2020

For associates choosing between Big Law firms before 2020, compensation was predictable - few firms dared to opt out of accepted market salary and bonus rates, making factors like culture stand out more, said Michelle Fivel, a partner at legal recruiting firm Major, Lindsey & Africa.

Milbank matches Davis Polk bonuses with extra pay for top performers

17 Sep 2020

Milbank is giving associates a "special one-time bonus" to reward their hard work in the face of the pandemic's many challenges, the firm said, matching a bonus scale announced earlier this week by Davis Polk & Wardwell and raising it for high performers.

Law firm billables down but new matters up in August - report

16 Sep 2020

The average U.S. law firm billed 11% less in August 2020 than in August 2019, following a large drop in new matters creation in July, according to a Wednesday report from legal tech company Clio.

Thousands of law firm staffers are now out of work. Where will they go?

16 Sep 2020

Thousands of U.S. law firm staffers have lost their jobs since March, when the coronavirus shuttered offices nationwide. More cuts are likely on the way - Winston & Strawn confirmed layoffs this week. And with technology making lawyers less reliant on support staff, some of those let go may never work in the industry again.

D.C. high court says it may grant diploma privilege

16 Sep 2020

The D.C. Court of Appeals said Tuesday that due to the coronavirus pandemic it may grant some law school graduates so-called diploma privilege, which would let them skip the bar exam and still become licensed to practice law.

As lockstep's lure fades, defenders still see value for law firm culture and clients

15 Sep 2020

When Davis Polk & Wardwell eased its pure lockstep pay system last week, some saw a sign that the already shrinking practice of paying law firm partners based on seniority might soon disappear. A Tuesday report from Major, Lindsey & Africa also highlighted the decline, with just 8% of Big Law partners surveyed saying their firm considers seniority to be "very important" in determining pay.

IN BRIEF: Squire Patton Boggs ending austerity for associates, not partners

15 Sep 2020

Squire Patton Boggs said Tuesday that it is easing its pandemic-era austerity measures, pledging to end pay cuts for associates next month.

Partner pay has shot up since 2010. But the new wealth isn't evenly shared

15 Sep 2020

The average pay for Big Law partners jumped 38% between 2010 and 2018, according to a report released Tuesday by legal recruitment firm Major, Lindsey & Africa. But those gains aren't spread equally, with growth notably lagging for women and Black partners.

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