The ‘Lasso Way’: Lessons for Lawyers from Ted Lasso Season Three
Season Three provided more takeaways for enriching attorneys on “The Lasso Way." And of course, more quotable pearls of wisdom.
Texas Lawyers Hit $2,000 an Hour
Just a dozen years ago, a handful of lawyers in Texas breached the $1,000 hourly rate barrier. The $1K lawyers were the best of the best in their practice areas: trial lawyers Steve Susman, Tom Melsheimer, Charles Schwartz and Harry Reasoner for bet-the-company litigation, or deal lawyers like Jeff Chapman, Andy Calder, Tom Roberts or Michael Dillard to lead mega-billion-dollar transactions. This year, a handful of Texas lawyers broke through another billing barrier: $2,000 an hour. Dozens more are expected to start charging clients $2K next year.
Perkins Coie, MoFo Lawyer Up in DEI Lawsuits
Within the last week, lawyers from Lynn Pinker Hurst & Schwegmann, Jenner & Block and Gibson, Dunn & Crutcher appeared on the dockets of federal lawsuits filed against Perkins Coie and Morrison Foerster alleging discriminatory practices related to their diversity fellowships. Both firms operate in Texas and one of the lawsuits is in Dallas. Natalie Posgate has the latest.
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.
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.
DEI Initiatives Challenged at Law Firms with Two New Lawsuits
After weeks of chatter, law firms have officially been roped into the legal battle over corporate diversity hiring initiatives following the aftermath of the SFFA v. Harvard Supreme Court decision that banned race-based affirmative action in higher education. The same plaintiff behind that case has now sued Perkins Coie and Morrison Foerster, which both operate in Texas. Natalie Posgate dissects the facts and details known about the litigation so far.
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.
Experts: Affirmative Action Ruling Puts Weight on Firms to Foster Legal Field’s Diversity
While diversity, equity and inclusion efforts will likely continue to face headwinds, experts say the legal profession can take specific steps to mitigate the potential impact of the Supreme Court’s recent decision that banned affirmative action in higher education. Natalie Posgate sought insights from corporate in-house lawyers, law firm leaders and affirmative action experts on what the impact may be and what the reaction should be going forward. As one lawyer put it: “It’s up to us to take a stand and make a difference.”
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.”