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Five Trends that Promise to Impact the Legal Workplace In 2024
February 01, 2024
Talent is the single most valued asset within a law firm. And, the role and influence of talent in law firms is on the rise. How law firms engage with, respond to and anticipate changing talent needs has the power to transform the legal landscape and dictate which firms come out ahead.
SCOTUS Looks for Remedy to Its Bankruptcy Fee Congressional Overstep Ruling
February 01, 2024
The U.S. Supreme Court on January 9 debated the proper remedy for its 2022 ruling that Congress violated the Constitution when it imposed steep bankruptcy fee hikes on large debtors in some districts but not others.
SEC Chief Warns Against 'AI Washing'
February 01, 2024
Artificial intelligence could drive greater efficiency and lower costs in the finance sector but U.S. Securities and Exchange Commission Chair Gary Gensler warned last month about companies potentially making false claims about using the technology, a nefarious practice known as "AI washing."
Fresh Filings
February 01, 2024
Notable court filings in entertainment law.
Pace of Law Firm Leasing Picked Up At End of 2023, But Many Firms Shed Space
February 01, 2024
As Big Law firms push a return to the office, law firms continue downsizing their physical footprints, in line with a trend of fitting lawyers and staff into less space.
Mitigating the Potential Consequences of Partnership Audit Changes
February 01, 2024
Partnership audit changes present increased exposure to partnerships and their partners, and future legislation may curtail much of the flexibility associated with partnerships.
Top Bankruptcy Partners Rates Are Climbing
February 01, 2024
The trend of above-average rate increases began during the pandemic.
Players on the Move
February 01, 2024
A look at moves among attorneys, law firms, companies and other players in entertainment law.
Innovative Development Opportunities Abound In Philadelphia Commercial Land Condominiums
February 01, 2024
While the appetite for building new vertical residential condominium buildings in Philadelphia has slowed since the onset of the pandemic, many commercial developers are now considering early on whether applying a land condominium regime makes sense for integrated development projects.
SCOTUS Seeks to Provide Clarity Over Investor Suits
February 01, 2024
In a case that could either stem or unleash a tide of investor lawsuits, the Supreme Court searched for a narrow way to rule that might still be of some value to the securities bar.

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  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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  • Meet the Lawyer Working on Inclusion Rider Language
    At the Oscars in March, Best Actress winner Frances McDormand made “inclusion rider” go viral. But Kalpana Kotagal, a partner at Cohen Milstein Sellers &amp; Toll had already worked for months to write the language for such provisions. Kotagal was developing legal language for contract provisions that Hollywood's elite could use to require studios and other partners to employ diverse workers on set.
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