Wake Up Call: Arizona Nonlawyer Program Catching ‘Street’s Eye’

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Three years after Arizona launched its Alternative Business Structures program that allows non-lawyers to own law firms and other legal businesses, the program is “catching Wall Street’s eye.” About 40% of the businesses so far have been backed by private equity or hedge funds, one program committee member said. (Wall Street Journal)
• Squire Patton Boggs has been sued for failing to pay the rent for the firm’s former Moscow office, shuttered soon after Russia’s 2022 invasion of ...