Wake Up Call: Cooley’s ‘Best Year’ Sees Profits Surge 28%

In today’s column, a White & Case lawyer is still working for a sanctioned Russian oligarch; Goodwin Procter hired a former Justice Department health-care fraud chief as partner in D.C.; more firms matched Cravath’s pay scale for associates.

• Leading off, Cooley chairman and CEO Joe Conroy called 2021 “the best year in the history of this firm,” powered by its emerging companies practice and boosted by increasing litigation work. The Palo Alto-headquartered firm, which opened a new office in Chicago and expanded in Asia, increased revenues 28% to $1.987 billion in 2021, while its average profits per equity per partner rose 27.9% to a record $4.06 million. (American Lawyer)
• As Russia’s mauling of Ukraine continues, some Big Law firms say they are cutting clients with links to Russia and its allies. But other firms are keeping quiet. (Law.com International) A White & Case lawyer is continuing to represent U.S. sanctioned Russian oligarch Viktor Vekselberg. (American Lawyer)
• With U.S. Covid-19 cases declining, California’s chief justice said four orders that allowed state courts to delay certain criminal and civil proceedings during the pandemic will end April 30. (The Recorder)

Lawyers, Law Firms

• Vinson & Elkins, Paul Hastings, and Foaly Hoag matched the Cravath scale for associate pay, which goes up to $415,000 depending on seniority. Before Cravath’s announcement, Kramer Levin said it was matching the earlier Davis Polk standard, which Cravath has now topped; Allen & Overy also matched the Davis Polk scale for its U.S. associates. (Law.com International)
• In its second year after merging, Faegre Drinker Biddle & Reath posted revenues up 5.4% to $987.7 million. Profits per equity partner rose 15% to $904,000. (Legal Intelligencer)
• A federal appeals court upheld a 20% fee reduction against an Arkansas law firm whose negotiating tactics it described as “akin to a shakedown.” (National Law Journal)

Laterals, Moves, In-house

• Goodwin Procter hired former Justice Department criminal division deputy chief Kirk Ogrosky as a partner in Washington and co-head of its health care government enforcement & false claims act defense group. He arrives from Arnold & Porter, where he was partner since 2010; Nelson Mullins grabbed a nine-litigator group from Tucker Ellis, one in Los Angeles and the other eight in the firm’s new office in Cleveland. The group includes six partners, five of whom previously practiced at Jones Day in Cleveland. (NelsonMullins.com)
• Gibson, Dunn & Crutcher said international trade lawyer David Wolber, who’s had stints as global financial crime counsel at banking group HSBC and Japanese financial services group MUFG, is returning to the firm as of counsel in Hong Kong; Simpson Thacher & Bartlett added two registered funds partners: Nathan Briggs from Ropes & Gray in Washington and Nicole Simon from Stradley Ronon in New York; Holland & Knight poached Kirkland & Ellis corporate and private equity attorney Scott Syverson as a partner in Los Angeles; Haynes and Boone said finance lawyer Laura Martone, an Orange County, Calif.-based counsel at the firm earlier in her career and recently partner at Bracewell in New York, returned as partner in New York. (HaynesBoone.com)
• Blank Rome picked up longtime Glaser Weil real estate lawyer Saul Breskal as a partner in Los Angeles; Wiggin and Dana got corporate lawyer Jack Sousa as a partner in Stamford, Conn. He joins from corporate and securities boutique Lev Berlin & Sousa, P.C., where he was managing principal; Epstein Becker Green snagged veteran Jones Day labor and employment litigator Carter DeLorme as a member in Washington. (EBGLaw.com)
• Troutman Pepper hired McGuireWoods energy attorney Melinda “Mindy” McGrath as a partner in Charlotte, N.C. She advises on the Federal Energy Regulatory Commission, the Natural Gas Act, and state regulatory matters; Katten Muchin brought in commercial litigator Geoffrey Young as a partner. He arrives from Reed Smith, where he was partner and executive director of diverse recruiting; Clark Hill added litigator David Hansma as a member in Birmingham, Mich; K&L Gates appointed trial partner Lauren Patten as managing partner of its growing Nashville office. (KLGates.com)