One of 2017’s biggest legal trends is the upswing in law firm merger activity. Altman Weil’s MergerLine site reports 76 deals announced through 2017 Q3, the most ever recorded through three quarters, with a prediction that there might be 100 mergers by year-end, surpassing the 2015 high of 91.
Firm mergers raise lots of conflicts
Dissolving a law firm is a process, not an event, the D.C. Bar Legal Ethics Committee said in a new opinion released earlier this month, and some ethical obligations continue even after dissolution. “The paramount” principle, said the committee, is to “continue to competently, zealously and diligently represent and communicate with the clients during the
A high-profile duel over rights to a legal database is playing out in state court in Boston. The warring parties are six former partners and the asbestos defense firm they left, allegedly taking with them high-value file management and other databases. The case, filed in November, raises the question: When partners leave, does a database that includes client information belong to the clients they take with them? Or to the old firm, which says it has invested heavily in developing the proprietary database?
Continue Reading Digital dilemma: Who owns litigation database when partners leave a firm?
The opening brief has been filed in a Fourth Circuit appeal that’s sure to be closely watched by the 100,000 members of the D.C. bar, as well as others. A key issue in Moskowitz v. Jacobson Holman PLLC is whether a law firm partnership agreement can reduce a partner’s equity payout if the partner walks out the door with clients. The district court said that the provision violates ethics rules, and is therefore unenforceable as against public policy.
Continue Reading 4th Circuit to decide whether forfeiture clause in partnership agreement violates D.C. ethics rules