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U.S. District Judge Darrin Gayles slashed a legal-fee request from Gibson, Dunn & Crutcher, after a court review said the hourly rates of lawyers defending an investment fund client were “unreasonable” in the Miami legal market. The judge, approving a U.S. magistrate’s analysis, said that $700 an hour was a reasonable fee for the case in Miami. The Gibson Dunn partners handling the matter, Barry Goldsmith in New York and Helgi Walker in D.C., bill at $1,815 and $1,785 an hour, respectively. Read more about how much the firm was awarded.
More top news:
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Thomson Reuters Institute & Financial Insights – Law Firm Financial Index/Handout via REUTERS
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The U.S. legal services sector lost 1,200 jobs in July, new Labor Department data showed. But law firms saw demand increase by 1.5% in the second quarter of 2023, according to a new report.
Bankruptcy, labor and employment, litigation and antitrust were among practices that helped drive growth, according to the latest edition of the Thomson Reuters Institute’s Law Firm Financial Index, which tracks key financial metrics across 170 large and midsized law firms. The report also showed that average worked rates – the rate a client has agreed to pay to engage a firm on a legal matter – grew by 5.9%. Read more about trends in the legal industry this last quarter.
More from the legal industry …
Dechert gave a few summer associates who would join the firm as associates in the fall of 2024 the option to defer their start date by a year … Dentons split with its China branch, Beijing Dacheng Law Offices, due to new national security restrictions imposed by the Chinese government … ABA’s House of Delegates urged firms to consider a wider range of factors when recruiting law students. The body also asked law schools to offer academic credit or pay to students heading up law reviews … Wachtell turned to Morrison & Foerster to fight Elon Musk’s lawsuit over $90 million in legal fees that the firm earned in forcing him to complete his buyout of Twitter, now known as X … Donald Trump’s former personal lawyer John Eastman asked a judge to halt a pending attorney ethics case against him, citing Trump’s latest indictment … And columnist Jenna Greene writes: Today’s jurors are not OK (and probably don’t like you)
Moves:
- In New York …
The chair of Stroock’s restructuring and bankruptcy practice left with four members of his team to join Morgan Lewis. Akin Gump hired hedge fund lawyer Max Karpel, who was most recently chair of the emerging managers practice at Lowenstein Sandler.
- In Washington, D.C. …
Wilson Sonsini’s antitrust practice leader departed for Paul Weiss. Baker Botts hired a partner from Sidley Austin for the international disputes section of its litigation department. Life sciences and product liability partners Eric Alexander and Matthew Jacobson joined Holland & Knight from Reed Smith.
- In Chicago …
A partner, an of counsel and an associate joined Blank Rome’s real estate group from Akerman.
- In Houston …
Squire Patton Boggs expanded its products liability capabilities with the addition of a partner from McGlinchey Stafford.
- In Los Angeles …
Scott Mayer joined Womble’s real estate practice from EPGR Lawyers.
- In San Francisco …
Littler added Robert Lockwood as a partner from O’Hagan Meyer.
- In Warsaw, Poland …
Partner Tomasz Korczyński from Cooley joined Greenberg Traurig as head of the infrastructure and government contracts practice.
- In London …
K&L Gates hired a new energy and infrastructure partner from Avonhurst.
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Additional writing by R Rohit and Tanvi Shenoy.
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