The firm expanded its presence in the state by recruiting a group of Dallas attorneys from Bryan Cave and QSLWM, with an eye to enhancing its real estate finance capabilities.
AI Hallucinations in Legal Research Are a Serious Problem … for Now
By now, we know that GenAI hallucinates. It is very real. It is very serious. And it is most likely very temporary.
Looking to learn from others who are approaching the inevitable disruption that GenAI will bring to the legal industry, I talked with three legal technologists from the UK law firm Travers Smith about mitigating the hallucination problem, the development of their own open-source AI chatbot and more.
Energy Companies Racking Up Hundreds of Millions in Legal Bills in Winter Storm Uri Litigation
More than 400 lawyers at more than 30 elite corporate law firms in Texas have made a total of more than $280 million in legal fees related to disputes involving Winter Storm Uri — a tab that legal industry insiders estimate will easily top a half-billion dollars before the litigation is over — even though not a single case has even been set for trial.
And those are only the lawyers representing energy companies and insurance firms. More than 80 plaintiffs’ attorneys — most of them from Houston — have filed lawsuits on behalf of tens of thousands of individuals and businesses claiming they were harmed by the actions — or lack of actions — of the energy companies during Winter Storm Uri. If successful, those lawyers could earn upwards of a billion dollars.
Holding Vigil: Law Firm Executives Deserve a Gold Star for Patience
Lawyers today face endless liabilities — both financial and reputational. Throw in the continuous industry-wide challenge of diversity and inclusion, a decline in associate writing skills and a truly mixed bag of social skills, and it is no wonder law firms find themselves stagnant and struggling to make big moves. This OpEd outlines key ways law firms can better utilize administrative resources and forge more strategic pathways.
Fifteen Law Firms in Texas Reach Elite Status
Corporate lawyers at 15 law firms operating in Texas reached elite financial status in 2022, according to the Texas Lawbook 50 data. Only two are based in Texas. Four are headquartered in New York. Four were founded in Chicago, four others in California and one in Atlanta. Eight of the elite law firms achieved revenue per lawyer of $1.5 million or more. Three topped $1.8 million. And one, for the first time in Texas history, broke the $2 million RPL barrier. Combined, the Texas lawyers at these 15 firms combined generated $3.18 billion in 2022.
Foley’s Austin Office is Hub for Firm’s Government, AG Practices
Ed Burbach, a former top deputy in the Texas attorney general’s office, has assumed a national leadership role in the firm’s government practice groups. He is determined to grow the practices, saying that clients are thinking about state and federal regulatory issues and their lawyers should be, too. Burbach represents clients targeted by state attorneys general and the Federal Trade Commission. He also has managed the Austin office since the December death of longtime leader Kim Yelkin.
Blank Rome Expands to Dallas with Corporate Group
The Philadelphia-founded law firm announced the opening of its second Texas office on Monday with seven attorneys from four firms.
In Wake of Harvard Supreme Court Decision, Kanarys Founder Provides Practical DEI Tips
As higher education circles, prospective students of color and mainstream media grapple with the aftermath of the Supreme Court’s affirmative action decision, so too does the legal industry. The Lawbook wanted a DEI expert’s take and got input from Kanarys founder Mandy Price, a Big Law attorney-turned DEI guru.
Texas Legacy Firms Finding Footing at Home
With a 16 percent jump in 2022 revenues, Jackson Walker is leading a resurgence of Texas-based firms that are growing revenues and increasing profits in their Texas operations. Fifteen of the 50 corporate law firms in the Texas Lawbook 50 are headquartered in Texas — down from 39 a decade ago. Those 15 Texas legacy firms generated $5.83 billion in 2022 — $3.37 billion from their Texas operations.
Twelve of the 15 Texas-headquartered firms grew revenues in 2022. Four firms increased year-over-year Texas revenues by more than 10 percent. Five additional Texas legacy firms reported annual revenue increases in their Texas offices by five percent or more. More than 42 percent of the revenue generated by Texas legacy firms came from their out-of-state operations. The Texas Lawbook has a full analysis.
Updated — Baker Botts’ Next MP: ‘Merger May Be in Our Future’ But Priority Is Strategic Growth in Texas and Beyond
For the first time in more than four decades, Baker Botts has elected a litigation partner to lead the 600-attorney, Houston-headquartered corporate law firm. The firm’s partners have chosen corporate securities litigation partner Danny David to replace John Martin, who has been managing partner since 2019 but faces mandatory retirement later this year. In a Friday morning interview, David told The Texas Lawbook that his top priority is to “grow smart to the strengths of our leading practices.”