Keep your finger on the legal world's pulse

In a highly competitive legal industry, 2024 saw over 200 attorneys switching firms in group lateral moves, reflecting a broader trend of law firms targeting teams to expand practices and capture market share. Key moves included Polsinelli hiring 47 attorneys from Holland & Knight, Paul Hastings adding 25 finance lawyers from Vinson & Elkins, and Baker McKenzie acquiring nearly all of Munger Tolles & Olson’s corporate attorneys in a 17-lawyer move. Group hires also fueled office openings, with firms like Thompson Coe establishing a Denver office and Berry Appleman & Leiden launching in Atlanta. Nelson Mullins expanded its Houston presence with nine tax attorneys from Chamberlain Hrdlicka. As firms anticipate continued market consolidation in 2025, many view lateral group hiring as a key strategy to strengthen capabilities and outpace competitors. Industry observers predict robust lateral activity will persist, driven by rising demand for specialized expertise and evolving client needs. 

 

The American Lawyer

The legal hiring market in 2024 saw major moves, with U.S. firms like Sidley Austin, Paul Weiss, and Fried Frank aggressively recruiting in London. Top hires included Shearman & Sterling's George Casey joining Linklaters, bolstering its U.S. M&A presence, and antitrust partner Annie Herdman moving to Paul Weiss from Ropes & Gray. Fried Frank added a trio of private equity partners from Goodwin Procter, while Simpson Thacher strengthened its energy and litigation practices with partners from Weil Gotshal and Skadden. Notable departures included Kirkland & Ellis losing leveraged finance partner Vanessa Xu to Fried Frank and Paul Weiss continuing its raid with James King, who launched its London funds practice. Sidley Austin’s recruitment of a five-strong Latham & Watkins team led by Jay Sadanandan highlighted a busy summer, while Fried Frank also secured real estate expert Roger Schofield from Freshfields. The year reflected an intense talent war, especially in private equity and finance practices.

 

Law

Rachelle Bin, general counsel at Fox Rothschild and a Law Journal Women Attorneys of the Year honoree, shares insights on building a fulfilling legal career. Appointed in April 2023 as the first woman and Latina to hold the role at the Am Law 100 firm, Bin oversees legal functions across 30 offices and 1,000 attorneys nationwide. She views her position as an opportunity to empower her team and foster professional growth. Bin emphasizes the importance of passion in legal careers: "The key to a long and successful career in law is to pursue areas that truly interest you." Her leadership philosophy centers on cultivating meaningful connections and creating a collaborative work culture. Bin advises new attorneys to explore diverse legal paths and remain engaged in their work to make a lasting impact.

 

New Jersey Law Journal

Kate Kalmykov, a shareholder at Greenberg Traurig and Women Attorneys of the Year honoree, reflects on her achievements and pro bono work. Over the past two years, Kalmykov has co-chaired the firm’s global immigration practice, overseeing $12bn in EB-5 real estate transactions and aiding thousands of foreign investors in obtaining U.S. green cards. She is most proud of her pro bono work assisting over 400 Ukrainian refugees with temporary protective status and humanitarian parole. Kalmykov, herself a former refugee, emphasizes mentorship and empathy, urging attorneys to work hard, find their niche, and make a difference through advocacy and paying it forward.

 

New Jersey Law Journal

The new bar exam, which will become operational in July 2026, is to be used by South Dakota and Virginia, increasing the number of jurisdictions which have agreed to the change to over half the 56 states and territories using such exams. The test was developed from 2021 by the National Conference of Bar Examiners with an emphasis on legal skills rather than memorization of laws. So far, the only states which have said that they will definitely not make use of the new exam are California and Nevada, with both developing alternatives.

 

Reuters

The U.S. Supreme Court has announced the launch of an online lottery under which members of the public can apply for tickets for courtroom seating when oral arguments are being made and decisions issued. Until now, many people had stood in line for hours or even camped out to secure a place in the courtroom.

 

Washington Post

The SEC is intensifying enforcement as 2024 closes, announcing settlements or charges in at least seven cases over the past week, with work flowing to nearly a dozen Big Law firms. Firms such as Paul Weiss, Fenwick & West, Goodwin Proctor, Debevoise & Plimpton, and Simpson Thacher are representing clients in high-profile cases. Recent actions include penalties against Pipe Technologies ($195,000), Underdog Sports Holdings ($175,000), and GRID 202 for late Form D filings. Deutsche Bank Securities faces a $4m penalty for late suspicious activity reports, with Simpson Thacher acting as counsel. Becton, Dickinson & Co. agreed to a $175m penalty over misleading investors about risks with its Alaris infusion pump, represented by Fried Frank.

 

The National Law Journal

The past year has witnessed significant shifts in leadership within legal tech companies and law firms, including Harvey, DISCO, and Cooley. These changes reflect a broader trend in the industry, as firms adapt to evolving market demands. The article notes that "major changes in the leadership ranks" are indicative of the challenges faced by these organisations. As the legal landscape continues to evolve, these leadership transitions may play a crucial role in shaping the future of legal technology and services.

 

Legal Tech Monitor

As cyber threats escalate, organizations must prioritize cybersecurity to protect their employees and data. Vijay Balasubramaniyan from Pindrop Security Inc. emphasizes that "leadership builds a cybersecurity-aware culture by setting the tone from the top." To foster this culture, companies should implement consistent training, open communication, and a blame-free reporting environment. Engaging employees through gamification and regular updates on phishing scams can enhance awareness. Additionally, integrating cybersecurity into daily routines and performance appraisals reinforces its importance. Barry Lowenthal from Inuvo, Inc. highlights the effectiveness of a 45-minute online training course in raising awareness. By adopting these strategies, organizations can create a resilient workforce ready to combat cyber threats.

 

Fast Company

WhatsApp has achieved a significant legal victory against NSO Group Technologies, the creator of the controversial Pegasus spyware. A ruling by Judge Phyllis Hamilton found that NSO Group violated both state and federal U.S. hacking laws, as well as WhatsApp's terms of service, by surveiling the phones of 1,400 individuals in May 2019. WhatsApp expressed gratitude for the decision, stating, “NSO can no longer avoid accountability for their unlawful attacks on WhatsApp, journalists, human rights activists and civil society.” The case will proceed to a jury trial in March 2025 to determine the damages owed to WhatsApp.

 

The Guardian

Squire Patton Boggs has filed a complaint in D.C. federal court, seeking the removal of Russian-Cypriot banker Dmitry Vitalyevich Bugayenko from the Treasury Department's OFAC sanctions list. Bugayenko, accused of supporting Russia’s war in Ukraine, argues his designation violates the Administrative Procedure Act (APA) and exceeds the authority granted under Executive Order 14024. The lawsuit highlights the serious consequences of being on the OFAC list, including asset freezes and financial restrictions, which legal experts describe as "crippling." While rare, successful challenges to the sanctions list have occurred, with plaintiffs often arguing procedural violations or insufficient evidence. Experts note that many individuals lack awareness or resources to contest their designation, though cases frequently settle before court judgments. Bugayenko’s case questions whether OFAC provided sufficient justification for his inclusion, citing his opposition to Russian corruption and minimal ties to the country. This lawsuit follows similar cases where individuals, including bankers Elena Titova and Paul Goldfinch, secured delisting after legal challenges. OFAC and the Treasury Department have not commented on the complaint.

 

Law

The recent lawsuit filed in the Eastern District of New York is reportedly one of the largest insurance fraud actions under the Racketeer Influenced and Corrupt Organizations Act. William J. Natbony, Counsel at Cadwalader, Wickersham & Taft, stated: "No-fault fraud is a huge problem in New York," highlighting the seriousness of the allegations against Surgicore, LLC and its associates. The complaint accuses them of submitting fraudulent claims, including billing for unnecessary services and illegal kickbacks. Steven Harfenist of Harfenist Kraut & Perlstein expressed concerns that this case could be a strategy to pressure smaller medical providers into settlements, as they often cannot afford to litigate against large insurance companies. He noted that these lawsuits have been prevalent since the late 90s but have gained traction recently due to insurance companies' struggles with claim denials. Harfenist hopes for regulatory changes to address the imbalance in these cases.

 

Law

The multidistrict litigation (MDL) over Ozempic and related GLP-1 receptor agonists has expanded to include the drug Saxenda, adding to claims of gastrointestinal injuries linked to Novo Nordisk and Eli Lilly products. However, the Judicial Panel on Multidistrict Litigation (JPML) rejected plaintiffs' attempts to include blood clot-related injuries, citing concerns about procedural complexity. Plaintiffs argued that thrombosis-related cases shared common issues of fact with gastrointestinal claims, but the JPML disagreed, emphasizing the need to maintain manageable litigation scope. The MDL, now encompassing six drugs, has seen over 1,300 cases filed and is expected to grow to more than 10,000 lawsuits. Co-lead counsel praised the decision to centralize additional cases while allowing other injury claims to proceed separately.

 

The Legal Intelligencer

Several prominent M&A law firms are facilitating a significant transaction to privatise the historic retail chain Nordstrom. The Nordstrom family, alongside Mexican department store chain El Puerto de Liverpool, will acquire all outstanding common shares in a deal valued at approximately $6.25bn, inclusive of debt. The Nordstrom family will retain a majority stake of 50.1%, while Liverpool will hold 49.9%. Lawyers from Sidley Austin and Perkins Coie are leading the special committee of the Nordstrom board.

 

Bloomberg Law