Wells Fargo Private Bank’s Legal Specialty Group

Morning Docket

Morning Docket: 12.10.18

* It's official: 2018 has been the best year for law firms since the Great Recession. Per Wells Fargo’s Legal Specialty Group, the legal industry will soon see its "strongest annual performance in a decade." Biglaw is back, baby! [American Lawyer] * Now that federal prosecutors have linked President Trump to crimes committed during his 2016 campaign, the focus has shifted to the family business -- but thus far, special counsel Robert Mueller hasn't tipped his hand as to whether or how Trump's family members will be involved in the case. [New York Times] * The Ninth Circuit recently upheld a district court judge's decision to put a stop to President Trump's limitations on asylum, citing the fact that his new port-of-entry rule was "likely arbitrary and capricious" since it was based "on a criterion that has nothing to do with asylum itself." Sounds about right. [Los Angeles Times] * Jeffrey Hammes, the longtime chairman of Kirkland & Ellis, will retire in early 2020, and his replacement has already been named. Congratulations to Jon Ballis, who will soon rule the roost at the world's highest-grossing firm. [Big Law Business] * It looks like the legal profession is starting early on its New Year's resolution to cut some weight. According to the Bureau of Labor Statistics, the legal sector shed 2,400 jobs over the course of November. Yikes... [American Lawyer]

By Staci Zaretsky
Morning Docket

Morning Docket: 02.02.18

* In case you missed it, Linda Greenhouse of the New York Times has noticed a trend when it comes to Chief Justice Roberts and who he's been aligning himself with at the Supreme Court. He may not yet be a moderate, but he seems to be shying away from "the reliably right-wing triumvirate" of Justices Thomas, Alito, and Gorsuch. [New York Times] * “The document speaks for itself.” All three of former Trump campaign aide Rick Gates’s lawyers are withdrawing as counsel, and will only explain why in documents filed under seal. Only his Biglaw attorney who is known for his plea deals remains. Gates is under indictment in special counsel Robert Mueller’s Russia investigation. [POLITICO] * According to the latest year-end report from the Wells Fargo Private Bank’s Legal Specialty Group, law firm revenue and profits were up in 2017, and demand had increased for legal services. As usual, the most profitable firms at the top of the market outperformed their smaller counterparts. [American Lawyer] * Trump administration policies having to do with immigration, specifically the H-1B visa program for foreign workers, may force many Biglaw firms to move to their practices to the cloud sooner than they would have liked. In times of "political uncertainty" like these, Biglaw can't rely on "offshore labor arbitrage" for IT outsourcing. [TechTarget] * The GC of the American Red Cross has resigned following the publication of a report that he praised a former colleague who was the subject of an internal investigation and pushed out of the organization for alleged instances sexual misconduct. [Corporate Counsel] * Disgusting: A Georgia lawyer who asked a witness to recant an eyewitness account of her son's molestation has politely gave up his license to practice law after pleading guilty to felony witness tampering and attempting to suborn perjury. [Big Law Business]

By Staci Zaretsky
Morning Docket

Morning Docket: 08.25.16

* Demand for legal services may be down, but to keep up appearances, law firms are raising their rates. Despite those rate increases -- which are driving revenue across most firms -- Wells Fargo Private Bank's Legal Specialty Group says, "We do not expect the results to match the record peak performance experienced in 2014.” At least you tried? [WSJ Law Blog] * In-house attorneys make a lot of money, but that won't stop them from being envious of their Biglaw colleagues. Per a new survey, 44 percent of in-house counsel say their compensation is “below or significantly below that of their peers," and 40 percent said they were likely to search for a new job because of comp issues. [Big Law Business] * If you missed it this weekend, Joan Biskupic had an excellent profile of Justice Sandra Day O'Connor. Though she once lamented that her decisions were "being dismantled," she's modest about how influential she was on the Supreme Court: "We [tried] to persuade by the strength of the argument. Everyone [had] a very key vote." [CNN] * "The current condition of the [Cincinnati College of Law may] not [be] good enough for [its] wonderful students,” but that doesn't mean it's getting a new building any time soon. The school's trustees just scrapped a plan to build a new law school at the downtown riverfront, opting to keep it on UC's main campus. [Cincinnati Enquirer] * "[B]ehind its façade of attainable elegance, Zara is engaged in a widespread practice of deceiving American consumers through a classic bait and switch." Clothing store Zara has been slapped with a $5 million federal suit for allegedly engaging in deceptive pricing tactics. The store typically only lists prices in euros in its U.S. stores. [Us Weekly]

By Staci Zaretsky
Biglaw

Morning Docket: 11.14.14

* Loretta Lynch, America’s would-be attorney general, has been flying under the radar for years, and now senators are searching to find something, anything at all really, that could possibly be wrong with her. [Legal Times] * “[T]his is the best period of time that we have seen in a long time.” According to Wells Fargo Private Bank’s Legal Specialty Group, Biglaw’s revenue, hours, and profits all rose in the first nine months of 2014. Nice work! [Am Law Daily] * Biglaw mergers and acquisitions are now on pace to meet or beat last year’s record, and company legal departments are pretty pissed off about it, especially since “[l]arge firm views on conflicts [tend to] drive [GCs] crazy.” [Reuters] * Retired Supreme Court Justice Sandra Day O’Connor attended the groundbreaking of Arizona State Law’s new campus, and even shoveled some dirt in honor of the school named after her. [Arizona Republic] * What’s the price on being blackballed? Condé Nast settled its unpaid intern class-action lawsuit yesterday for $5.8 million, which will result in $700 to $1,900 payouts per aggrieved intern. [Fashionista]

By Staci Zaretsky
Attorney Misconduct

Morning Docket: 08.09.13

* As “one of the most respected appellate judges of her generation,” Patricia Wald, the first woman appointed to the D.C. Circuit, was awarded the Medal of Freedom. Congrats! [Blog of Legal Times] * Biglaw firms saw “anemic” growth in the first half of 2013, and according to the latest Wells Fargo survey, some “minor cuts” are expected in headcount. Well, that’s just great. [Am Law Daily] * “It is a period of significant change for the firm. That requires some hard decisions.” Patton Boggs has already conducted layoffs, so what could possibly be next for the firm? [Wall Street Journal (sub. req.)] * Sorry guys, but it looks like Reema Bajaj’s bajayjay will be out of session for the foreseeable future. The attorney accused of exchanging sex for office supplies has agreed to a three-year suspension of her law license. [Chicago Tribune] * Rather than be bought out by InfiLaw (it could “diminish the value of their degrees”), Charleston School of Law alumni are trying to organize a merger with a public school. Good luck with that. [Greenville News] * Nebraska will offer a doctorate in space law, which makes sense because… f**kin’ magnets, how do they work? But really, we’re willing to bet it’s because of all of the crop circles in the state. [Miami Herald] * No joke necessary: This law school claims its rights are being infringed upon because it has to disclose how many of its graduates — 7 percent at last count — have passed the bar. [WSJ Law Blog (sub. req.)] * Two of Dzhokhar Tsarnaev’s friends were indicted on obstruction of justice charges. If convicted, the pair will face up to 20 years in prison, and they don’t even have a Facebook fan page to show for it. [Bloomberg]

By Staci Zaretsky