ABA Journal

Practice Finance

45 ABA Journal Practice Finance articles.

Suit claims BigLaw firm took over corporate client’s finances and took advantage of its impaired CEO

A lawsuit filed Thursday claims that Akin Gump Strauss Hauer & Feld and its lawyers took advantage of a corporate CEO who was suffering from substance abuse and mental health problems.

Legal jobs take another leap and hit 10-year high; what’s driving the increase?

The legal industry gained 2,900 jobs in November, according to new seasonally adjusted figures from the U.S. Bureau of Labor Statistics.

Super Law: How ethical obligations can shape business and your practice

When framing the phrase super law in relation to sustainability with senior in-house execs and lawyers some years ago, people were puzzled by the concept. The notion seems counterintuitive to people steeped in traditional risk management.

Venture capital firm sues its former general counsel, once a child actress on ‘The Wonder Years’

A lawyer who portrayed Becky Slater on The Wonder Years, a TV show than ran from 1988 to 1993, is facing a lawsuit of more than $1 million stemming from her work as a general counsel for a venture capital firm.

Pay Attention: CPA serves up financial tips for lawyers

In this episode of the ABA Journal’s Asked and Answered podcast, Senior Writer Stephanie Francis Ward talks to New York CPA Gary DuBoff about how to live within your means, how to figure out your set costs, and how to budget with what’s left over.

Law firm and former partner battle over $11M referral fee

A Pennsylvania law firm and one of its former partners are battling in court over the right to an $11 million referral fee.

BigLaw firms are taking ‘two steps forward, one step back,’ new Thomson Reuters report says

Law firm productivity is dropping, driven by accelerated hiring that is driving the supply of lawyers higher than demand for their services, according to a report released this week.

Productivity…

Lawyer’s hip-hop defense fails in case involving ‘an overarching pattern of misconduct’

Maryland’s highest court has disbarred a lawyer for a “myriad of rule violations” that included calling a social worker who testified in one of his cases a “bitch.”

The Maryland…

One size does not fit all: Law firm subscription plans come in all shapes and sizes

Home movies are dominated by Netflix. And Amazon Prime’s subscription-based free shipping model has shaken up online commerce. Are law firms ready to move to a subscription-based model, too?

DLA Piper lawyers in the UK are targeted in email scam

Scammers posed as DLA Piper lawyers in the United Kingdom to trick an entity into making a payment to a fraudulent bank account.

The Solicitors Regulation Authority said in

Median pay for new associates jumps nearly 15%, NALP survey says

The median salary for first-year associates was $155,000 at the beginning of the year, a jump of $20,000 from 2017, according to figures released Wednesday by the National Association…

Groping, extortion, litigation-funder fraud among claims in dueling suits by law firm, ex-partner

Updated: A court fight between Pierce Bainbridge Beck Price & Hecht and one of its former partners is airing allegations of financial misconduct, sexual assault, masturbation, retaliation and a $65…

Associate pay raises push law firm expenses higher; demand softens while rates rise

Law firms are facing rising expenses that are partly fueled by associate pay raises, according to two reports on the economic outlook for law firms in the first quarter of…

BigLaw firm settles suit accusing it of ‘billing feeding frenzy’

Morrison & Foerster has reached a confidential settlement in a lawsuit accusing the law firm of “egregious overbilling” and a “billing feeding frenzy” after it was hired to help…

Percentage of equity partners continues to shrink while BigLaw profits increase

The percentage of equity partners in the nation’s top 100 law firms continued to decline last year, even as average revenue per lawyer increased.

The percentage of equity partners was…