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Wake Up Call: Paul Hastings Reports Banner Year

March 1, 2016, 1:14 PM

• Paul Hastings reported that 2015 was its most profitable year ever , with gross revenue up 5.6 percent to $1.06 billion, profits per partner up 6.1 percent to $2.5 million, and revenue per lawyer rising 1.1 percent to $1.16 million at the 912-lawyer firm. (American Lawyer)

• A new survey found that 14 percent of CISOs report directly to their CEO , yet 82 percent of survey respondents said their boards are concerned/very concerned about cyber security. (Legaltech News)

• Half of the respondents in Indiana University’s survey on 22,000 law students reported “ experiencing high levels of stress and anxiety while on campus, and 51 percent of those students said debt and financial concerns contributed to their stress.” (National Law Journal)

• The White House is vetting U.S. District Judge Ketanji Brown Jackson in Washington, D.C., a former member of the U.S. Sentencing Commission, to fill Justice Antonin Scalia’s seat on the U.S. Supreme Court, according to a source contacted as part of the process. (National Law Journal)

Legal Market:

• A look at Quinn Emanuel’s London office : Launched in 2008, revenue has consisently grown and may be the best office in the firm for associates looking to make partner. (The Lawyer)

• An analysis of the top 50 U.K. firms found that total net cash rose by 159 percent last year. (The Lawyer)

• Monsanto GC Dave Snively on the attorneys he hires: “You have to be completely committed to us because we are a controversial company.” Part II interview . (Big Law Business)

• On Monday, the U.S. Supreme Court rejected about 500 appeals without comment. Today, it will issue opinions for the first time since Scalia’s death, and later this term it will hear appeals including on cases over union fees, consumer lawsuits, undocumented immigrants and Obamacare’s contraceptive rules. (Big Law Business/Bloomberg)

• Justice Clarence Thomas broke his decade-long silence during U.S. Supreme Court arguments Monday, asking almost a dozen questions in a case involving gun ownership by people convicted of domestic violence. (Big Law Business/Bloomberg)

• The American Lawyer’s special report on Millienials, adults between the ages of 18 and 35, notes they may be the “The Screwed Generation,” with heavy debt and fewer job opportunities. (American Lawyer)

Laterals and moves:

• Corporate finance lawyer Alison Boren and corporate mergers and acquisitions lawyer William Howell have joined Sidley Austin in Dallas, coming from Baker Botts. (Texas Lawyer)

• Simpson Thacher & Bartlett Hong Kong partner Leiming Chen is leaving to join longtime client Alibaba Holdings Ltd.'s affiliate company Ant Financial Services Group as general counsel. (Asian Lawyer)

• Former Howrey chairman Robert Ruyak’s litigation boutique has expanded to about 10 partners , including recently Wilmer Cutler’s Palo Alto-based IP litigation partner Song Zhu and Haynes and Boone antitrust and health care partner Richard Ripley, who is based in D.C. The three-month-old RuyakCherian still has only a placeholder website. (American Lawyer)

• After adding 20 lawyers last year, Covington & Burling continues to grow its government contracts practice with the addition of Peter Hutt II, previously a partner at Akin Gump. (Big Law Business)

Technology:

• The CEO and founder of Rocket Lawyer, Charley Moore, speaks about the quick demise of his pilot project with the ABA, which was meant to connect lawyers with his clients looking for low-cost legal services but faced heavy opposition from several local bar associations. “Instead of recognizing the partnership and pilot program as an opportunity for attorneys to attract new clients,” he said, “they seem to be focused solely on price protection and throttling competition.” (Big Law Business)

• The digital forensics market is expected to reach $4.8 billion by 2020, according to a report by IndustryARC, with 60 percent of the market in the Americas, followed by Europe. (Legaltech News)

A list of five pitfalls to avoid when selecting enterprise software. (Legaltech News)

• A federal magistrate in New York on Monday denied the government’s request to force Apple to help unlock an iPhone at the center of a drug investigation — a decision that intensifies the ongoing legal standoff between the tech giant and the Justice Department. (Politico)

• The European Commission published details of its transatlantic“Privacy Shield” agreement, which replaces the earlier Safe Harbour framework. (Ars Technica)

LegalShift, a new company founded by Dan Safran that seeks to advise corporate law departments and law firms on Lean Six Sigma and other efficiency optimization announced launched this week — the latest sign that legal operations specialists are growing more important. (Big Law Business)

Miscellaneous:

• Robert Maldonado, head of the Hispanic National Bar Association, on Monday demanded an apology from Donald Trump for alleging that the judge presiding over a class action involving Trump University is biased against the Republican presidential candidate. (National Law Journal)

More than a third of attorneys are problem drinkers and over a quarter are clinically depressed, reports a study just released in the Journal of Addiction Medicine. (National Law Journal)

Portrait of a Millenial ? Fennemore Craig’s James Goodnow is a personal injury whose “ease with technology and his desire to chart his own course is widely shared by his peers,” and possibly a sign of what the legal profession will look like in the future. (American Lawyer)

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