Welcome

What Attorneys Can Learn From Burford’s Financial Results

Feb. 6, 2020, 1:40 PM

Burford Capital reported most of its 2019 results this week and warned that profits would fall in the latest urgent news for the publicly traded litigation finance firm’s investors. But what should lawyers concerned with the future of the industry focus on?

Two Metrics: Burford’s financial results show how much the company spends on new investments in litigation and how much money it makes on them, which help explain the current and future state of litigation finance.

Results: Those numbers show a more mature business that has evolved to invest in different types of cases, most notably purchasing awards and settlements.

Roy Strom has more in the latest Big Law Business column.

DAILY BRIEF


Law Firms

Morgan Lewis Again Raids Sidley Austin Employment Ranks
Morgan Lewis has again scooped up labor and employment partners from Sidley Austin with Ami Wynne and Jonathan Lotsoff the latest to make the jump.

In-House

Online Video Game Giant Roblox Reels in New Top Lawyer
Online video game company Roblox Corp. has recruited Wilson Sonsini Goodrich & Rosati partner Mark Reinstra to replace its general counsel, who moved to China.

Snap’s Top Lawyer Compensation Soared to $9.1 Million in 2019
The top lawyer at social media message platform Snapchat earned nearly $9.1 million in total compensation in 2019, nearly 10 times more than in the previous year.

Ethics

Ex-Willkie Co-Chair Can’t Practice Before SEC After College Scam
Gordon Caplan, a former co-chairman of Willkie Farr & Gallagher LLP, can’t represent clients before the SEC following his involvement in last year’s college admissions scandal, the agency said.

Judiciary

McConnell Tees Up Judicial Nominees After Trump Acquittal
The U.S. Senate moved quickly after acquitting President Donald Trump of impeachment charges to line up votes on a series of his judicial nominations, including an appellate pick.

Trump Plans Four District Court Picks in Illinois, Pennsylvania
President Donald Trump plans to nominate three sitting judges and a federal prosecutor to district court seats in Illinois and Pennsylvania.

WAKE-UP CALL

Opposition Mounts to ABA Proposal on Law Firm Ownership
In today’s column, the New York Times hired Morgan Lewis to defend it against a Harvard Law professor’s defamation suit; Davis Wright Tremaine grabbed a six-lawyer energy group from Alston & Bird; and flexible-legal staffing company Axiom added 60 lawyers to its network with an acquisition.

PRACTITIONER INSIGHTS

INSIGHT: The Rise of Independent Contractor and Freelancer Protections in New York
In New York City, protections for freelancers and independent contractors were expanded Jan. 11 under an amendment to the New York City Human Rights Law. With a nod to Star Wars, Kramer Levin’s Emily M. Wajert highlights some of the major protections that, presumptively, would also have protected galactic bounty hunters.

INSIGHT: Hackers Can Wreak Havoc on Medical Devices, But Manufacturers Can Fight Back
Medical devices are moving in the Internet of Things, presenting cybersecurity concerns for patient information and data. Nutter attorneys discuss the security and legal issues specific to the industry and how device makers can fight back.

WORKFLOWS

Frost Brown Todd hired labor and employment attorney Fred Gaona as a Member in Dallas from Gray Reed | Goulston & Storrs brings on Matthew Tosto as an associate in the Real Estate Group in Boston from Ropes & Gray | Alston & Bird has added Shawna Tunnell as a tax partner in Washington from Hogan Lovells, and litigation partner Stuart Plunkett in San Francisco from Baker Botts LLP | Greenspoon Marder hired Nick Richards to the Cannabis and Tax practice groups in Denver | Bradley Arant Boult Cummings’ Healthcare Practice Group added senior attorney Najla Long and antitrust partners Mark J. Horoschak, Brian A. Hayles, and Michael P. Fischer in Charlotte from Womble Bond Dickinson | Marshall Dennehey has promoted Craig S. Hudson to the position of Assistant Director of the Professional Liability Department; he will return to Philadelphia for this role | Saul Ewing Arnstein & Lehr recently added Dan Altchek as a partner in the Labor and Employment Practice in both the Baltimore and New York offices, and Mario Fontes as a partner in the Corporate Practice in Miami | King & Spalding hired Jeanie Cogill as a partner in the Corporate, Finance and Investments practice group in New York from Morgan Lewis | Troutman Sanders’ Business Litigation practice added partners William Mayberry, Jason Evans and Joshua Davey in Charlotte from McGuireWoods | Sheppard Mullin added partners Brendan Dolan and Lucky Meinz to the Labor and Employment practice group in San Francisco from Vedder Price | Benesch’s Chicago office added litigator Scott A. McMillin (from Kirkland & Ellis); associates Sheila Prendergast and Tracey Starck to its Litigation Practice Group, and partners Scott P. Downing and Jason S. Greis to its Health Care & Life Sciences Practice Group | Blank Rome hired Stacy H. Louizos as a Partner in the Corporate, M&A, and Securities group (in New York) and will serve as Co-Chair of Blank Rome’s Investment Management group; she joins from Drinker Biddle & Reath (Faegre Drinker).

If you haven’t already, be sure to follow us on Twitter, Flipboard, LinkedIn, Reddit, and Facebook.



To contact the reporter on this story: Bruce Kaufman in Washington at bkaufman@bloomberglaw.com

To read more articles log in.

Learn more about a Bloomberg Law subscription.