See you in the Home Depot lot.
Oct 10, 2024 (Reuters)
Cleary Gottlieb Steen & Hamilton will create a new category of non-equity partners, becoming the latest major U.S. law firm to move away from the traditional single-tier structure in which all partners have an ownership stake in the firm.
Adopting a non-equity partnership tier is “an important step for Cleary as we continue to strategically grow,” a firm spokesperson said in a Thursday statement. “Innovating in this way underscores our dedication to developing and retaining talent,” the spokesperson said.
New York-founded Cleary had 180 partners in 2023, according to figures published by the American Lawyer.
The firm generated more than $1.4 billion in total revenue, and profit per equity partner averaged $4.5 million, according to the American Lawyer data. Cleary has about 1,100 lawyers globally.
Read the full article here at Reuters
Other
Underage Workers in Factories Spark Fines, Investigations, and Legislation
A New York Times report exposed widespread child labor in a Michigan factory, prompting state and federal authorities to take action. The report focused on a Hearthside Food Solutions plant in Kentwood, alleging the presence of numerous underage workers. Michigan's...
$87 million in adult-use marijuana payments to be sent out across Michigan
The Michigan Department of Treasury today announced that more than $87 million is being distributed among 269 municipalities and counties as a part of the Michigan Regulation and Taxation of Marijuana Act. Over the next few days, 99 cities, 30 villages, 69 townships...
Other Articles
Forfeiture Law: SCOTUS and Sixth Circuit Issue Landmark Rulings
Forfeiture Law in Focus: SCOTUS and Sixth Circuit Issue Landmark RulingsThe landscape of forfeiture law has been significantly shaped by recent decisions from the U.S. Supreme Court and the Sixth Circuit Court of Appeals. These rulings, in the cases of United States v...
When Can Your Silence Be Used Against You in a Legal Situation?
US Supreme Court - Salinas v. TexasWhen Can Silence Be Used Against You? In the realm of criminal law, the Fifth Amendment to the United States Constitution grants individuals critical protections, including the right to remain silent and the right against...
Supreme Court 8-1 Gun Possession Decision Changes Second Amendment
Supreme Court 8-1 Gun Possession Decision Changes Second Amendment Landscape Forever!Issue: Whether 18 U.S.C. 922(g)(1), the federal statute that prohibits a person from possessing a firearm if he has been convicted of “a crime punishable by imprisonment for a term...
Facial Recognition and Wrongful Arrests
Facial RecognitionHow Technology Can Lead to Mistaken-Identity Arrests Facial recognition technology has become increasingly prevalent in law enforcement, but its use raises critical questions about civil liberties and accuracy. One landmark case sheds light on the...
