Keep your finger on the legal world's pulse

Big Law donors are mobilizing to support Vice President Kamala Harris' presidential campaign following her rise to the top of the Democratic ticket. Notable events include a high-priced lunch in New York hosted by Sullivan & Cromwell's Rodge Cohen, with tickets reaching £100,000, and a reception in Washington co-hosted by Jenner & Block's Josh Hsu. Phil Recht from Mayer Brown observed: “If this momentum continues — if this optimism continues — there's going to be absolutely no shortage of money contributed to the campaign.” The Lawyers for Harris group has reconvened, and bundlers like Andrew Byrnes report raising significantly more than in previous campaigns.

 

Bloomberg Law

In the first half of 2024, law firms saw an 11.4% year-over-year increase in revenue, significantly surpassing the 4.4% growth recorded during the same period last year. According to the Wells Fargo report, this surge is attributed primarily to an 8.8% rise in average standard rates. Notably, firms within the top 50 for gross revenues saw the highest rate growth at 10%, leading to a 13.8% increase in their revenue. The report, based on a survey of over 130 firms, highlighted that demand rose by 3.1% and productivity increased by 1.5%, with lawyers averaging 1,576 hours. However, expenses also rose by 7%, with overhead costs slightly outpacing lawyer costs. The revenue boost led to one of “the best first halves we’ve surveyed, second only to 2021,” the report said.

 

ABA Journal

Following the death of U.K. based partner Vanessa Ford, Pinsent Masons is implementing a new time-tracking system to alert management about employees working excessive hours. The initiative aims to address the intense workloads and stress faced by lawyers, particularly after the coroner's court ruled that Ford's death was linked to a mental health crisis exacerbated by long working hours. Pinsent Masons, which employs 3,000 staff globally, hopes that the time-tracking technology will enhance visibility of workloads and facilitate better distribution of tasks among lawyers. A spokesperson said: "It is still early days, but using technology like this will help increase our visibility of colleague workloads."

 

The Sunday Telegraph

Bryan Cave Leighton Paisner's lawsuit for a refund exceeding $370,000 in St. Louis earnings taxes is being challenged by the city and its revenue collector, Gregory Daly. The law firm claims that for a decade, only 14.4% of each nonresident partner's income was taxed, but the city has now adjusted the 2022 earnings tax return to allocate 100% of nonresident partners' income to St. Louis if they were assigned to the local office.

 

Bloomberg Tax

The Federal Trade Commission (FTC) has initiated a lawsuit to block the $24.6bn merger between Kroger and Albertsons, citing concerns over reduced competition and increased grocery prices. The three-week hearing began Monday in Portland, Oregon. Susan Musser, the FTC's chief trial counsel, stated: “This lawsuit is part of an effort aimed at helping Americans feed their families”. The merger would create the largest supermarket chain in the U.S., operating 5,000 stores and employing around 710,000 workers. Both companies argue that the merger is necessary to compete with larger rivals like Walmart and Costco. The FTC is seeking a preliminary injunction to halt the merger while its case is reviewed. The chief executives of Kroger and Albertsons are expected to take the stand next week. Meanwhile, at a news conference on the courthouse steps Monday morning, Kim Cordova, president of the Colorado and Wyoming chapter of the United Food and Commercial Workers International Union, said the merger would reduce union power at the bargaining table, resulting in lower wages and worse benefits. 

 

Arizona Daily Sun

Chicago Sun Times

New York Times

The Oregonian

The National Women's Soccer League (NWSL) and its players' association have reached a historic collective bargaining agreement (CBA) that eliminates the draft, guarantees contracts, and introduces unrestricted free agency, significantly enhancing player control. NWSL Commissioner Jessica Berman said: “This CBA gives us agency over our business and gives the players agency over their careers.” The agreement, effective through 2030, raises the minimum salary from $48,500 to $82,500 and doubles end-of-season bonuses starting in 2027. It also expands parental leave and mental health services, while increasing the number of health professionals per club. The CBA aims to attract top talent globally. There are over 110 foreign players currently in the league. Tatjana Haenni, NWSL's chief sporting director, emphasized the league's commitment to providing an elite training environment for players.

 

Los Angeles Times

Deidre Kalenderian has joined Paul Hastings as an executive compensation partner in its Chicago office, enhancing the firm's compensation, benefits, and ERISA practice. Firm chair Frank Lopez stated that her addition will aid in "creating a premier executive compensation practice" as the firm aims to expand its global platform and market share. Kalenderian highlighted the increasing demand for bespoke deals that necessitate greater expertise, indicating a shift in the transactional landscape. Her previous experience at Kirkland & Ellis and her client roster are seen as highly synergistic with Paul Hastings' goals, positioning the firm to capture more opportunities at the top of the legal market.

 

Law

Paul Weiss, Rifkind, Wharton & Garrison has appointed Nickolas Bogdanovich as a partner in its mergers and acquisitions practice. Previously at Cleary Gottlieb Steen & Hamilton, where he became partner earlier this year, Bogdanovich has significant experience, having worked on notable deals such as Google's acquisition of Raxium and Fitbit. Scott A. Barshay, chair of the corporate department at Paul Weiss, expressed enthusiasm about Bogdanovich's arrival, stating, “Nick is a superstar young M&A partner who has worked closely with us and with our clients for years.” This addition follows the recent hiring of Jim Langston from Cleary and Chelsea Darnell from Kirkland & Ellis, further strengthening the firm's corporate practice.

 

Bloomberg Law

Law

Raghav Bajaj has joined Latham & Watkins as a partner in its Austin, Texas intellectual property litigation practice, having previously worked at Haynes and Boone for nearly 11 years. His expertise lies in contested Patent Trial and Appeal Board (PTAB) proceedings, where he has represented major clients, including Google and X, in various patent-related issues. Jeff Homrig, global IP litigation vice chair at Latham, said: “Raghav's experience, combined with his computer science background and technical know-how, will undoubtedly make our practice even stronger.” Sam Zabaneh, managing partner in Austin, added that Bajaj's robust technical background will enhance the firm's ability to tackle complex IP litigation challenges.

 

CDR

Law

Rite Aid's chief legal officer, Thomas Sabatino Jr., has departed after a year, coinciding with the company's approval of a corporate restructuring plan. Christin Bassett, previously interim law head, has been appointed as acting general counsel and corporate secretary. Sabatino, who joined Rite Aid in June 2023, was recruited for his extensive legal experience, including a notable tenure at Aetna. Following Rite Aid's Chapter 11 filing in October 2023, the company has been restructuring its operations, including closing over 500 stores and raising $391m from the sale of its Elixir pharmacy benefit manager business. The company is also managing a data breach affecting 2.2m customers and has engaged multiple law firms for bankruptcy counsel, with Kirkland & Ellis leading the charge.

 

Bloomberg Law

Delta Air Lines is contesting Oregon's tax policy regarding the uniform taxation of goodwill, intellectual property, and other intangibles. The Oregon Supreme Court is being asked to overturn a ruling that states taxing only centrally assessed intangible properties violates both the Oregon Constitution's uniformity clauses and the U.S. Constitution's equal protection clause. Delta argues that it is unjust for its intangibles to be taxed differently simply because it operates in the air transportation sector. The outcome of this case could have significant implications for how intangible assets are taxed in Oregon. 

 

Bloomberg Tax

Tran To Nga, a French-Vietnamese former journalist, has faced a setback as a Paris court dismissed her appeal against agrochemical companies, including Monsanto, regarding their role in producing Agent Orange during the Vietnam War. The court upheld the companies' legal immunity, stating that Nga's claims "come up against the companies' immunity status." Nga, who has suffered severe health issues linked to the chemical, plans to escalate her case to France's highest appeals court. The 82-year-old has accused 14 firms of causing harm and environmental damage, highlighting that an estimated 4m people in Vietnam, Laos, and Cambodia were exposed to 76m liters of Agent Orange. Despite her struggles, only military veterans have received compensation for the chemical's aftereffects.

 

France 24