Law firms opt for M&As over listing in plans to grow in 2022 January 24, 2022 Almost half (47 per cent) of UK law firms are considering mergers and acquisitions, as they seek to expand their geographical footprints and scale up their businesses, according to a poll commissioned by M&A broker Acquira. In a poll of 100 law firms, 47 said they are currently planning a merger or acquisition, with small- [...]
UK government to recruit 4,000 new magistrates in biggest court recruitment drive in 650 years January 24, 2022 The UK government is set to recruit 4,000 new magistrates from all sections of society, in a bid to make magistrates courts more representative and cut the court backlog built up during Covid-19. The Ministry of Justice (MoJ) said its plan to launch the largest recruitment drive in the Magistrates Courts’ 650-year long history could [...]
FTSE 100 firms are failing to tackle poverty, despite embracing ESG agenda January 23, 2022 Britain’s major companies are ignoring the “social” aspect of the ESG agenda by failing to pay attention to poverty, a think-tank has warned. James Kirkup, director of the Social Market Foundation, accused Britain’s biggest companies of “ignoring the S in ESG,” as he called on FTSE 100 firms to do more to tackle poverty. [...]
Law firms investigate Activision deal over claims board sold for cheap to avoid sexual harassment lawsuits January 23, 2022 Seven different law firms have launched investigations into Activision Blizzard’s decision to sell itself to Microsoft, over claims Activision’s board decided to sell up in a bid to get away from the sexual discrimination lawsuits facing company. In a statement announcing its investigation, San Diego law firm Johnson Fistel said: “It appears that the Activision [...]
Greenberg Traurig opens Hamptons office in push for “work-near-home” January 23, 2022 Greenberg Traurig has become the first major law firm to open offices in the Hamptons, as it seeks to adapt to the “new normal” in a vote of confidence that the changes brought about by the pandemic “are here to stay”. The law firm’s decision to open offices in the wealthy seaside resort comes as [...]
Law Society flags attainment gap between white and ethnic minority students January 23, 2022 The head of the Law Society has raised concerns about the “attainment gap” between white and ethnic minority students, in the exams students must pass to become a solicitor. According to figures published by the Solicitors Regulation Authority, 66 per cent of white students passed the Solicitors Qualifying Exam (SQE1), compared to 39 per cent [...]
Milbank ups stakes in battle for talent with $215,000 salaries for newly qualified lawyers January 23, 2022 New York headquartered law firm Milbank is set to pay its newly qualified (NQ) associates $215,000 (£160,000), as the battle for fresh legal talent rages on into 2022. According to a memo seen by City A.M. newly qualified lawyers in Milbank’s London, Sao Paulo, US and Asia offices will receive a $10,000 pay boost [...]
Financial services litigation in 2022: Push payments, crypto fraud, ESG and a jump in interest rates January 22, 2022 Push payments, cryptocurrency fraud and a jump in interest rates could lead to more litigation in the financial services sector in 2022, an industry expert discussed with City A.M. this weekend. One of the biggest drivers of financial disputes this year could be authorised push payment fraud. Authorised push payment fraud involves fraudsters duping consumers [...]
MP calls for windfall tax on libel lawyers to protect journalists from “lawfare” January 21, 2022 An MP has said a windfall tax on libel lawyers should be used to create a “defamation defence fund” to protect journalists from being silenced by oligarchs. In a debate on Thursday, over the use of “lawfare” and costly libel actions to silence British journalists, Labour Party MP Liam Byrne said “the truth is under [...]
Crown Court wait times hit record highs as government struggles to cut Covid backlog January 21, 2022 Victims, defendants, and witnesses face record long waits for Crown Court trials, as the UK struggles to reduce the backlog faced by the court system due to Covid. A record 23 per cent of outstanding trials have now been outstanding for more than a year, figures from the Ministry of Justice show. At the same [...]