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Boies Schiller sees big drop in revenue after partner departures

Boies Schiller sees big drop in revenue after partner departures

Image from Shutterstock.com.
Boies Schiller Flexner will likely drop out of the American Lawyer’s list of the nation’s top 100 grossing law firms after losing a third of its equity partners last year.
Law.com has a report on the firm’s 2020 financial numbers. Boies Schiller saw a 38% drop in gross revenue, a 54% drop in net income and a 32.1% drop in profits per equity partner. Revenue per lawyer increased, however, by 4.6%.
Total gross revenue was $250 million, down from $405 million in 2019. That number will likely keep Boies Schiller out of the Am Law 100 list, given that the firm in last place last year had $380.3 million in gross revenue. ....

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Businesses should be wary of class action lawsuits as groundbreaking Shell decision has global reach

Businesses should be wary of class action lawsuits as groundbreaking Shell decision has global reach
Class actions are becoming increasingly common in the UK.
Class action lawsuits are becoming increasingly popular in the UK, and a combination of the coronavirus, Brexit and previous claimant-favourable outcomes will mean UK companies see more action against them in the coming years.
Britain is part of something of a third wave of class action lawsuit popularity.
The practice of collective claims started in the United States, where it is still rife, then moved to Australia, where it became so popular the Australian government is looking at ways to regulate the sector. Class actions are now growing in popularity in Britain. ....

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Afternoon Briefs: NRA files for bankruptcy; Boies Schiller partner is arrested

Afternoon Briefs: NRA files for bankruptcy; Boies Schiller partner is arrested

NRA files for bankruptcy, plans Texas move
The National Rifle Association announced Friday that it is filing for bankruptcy, leaving New York and moving to Texas to reincorporate there as a nonprofit. New York Attorney General Letitia James has said she sees the move as an attempt to evade accountability after her office sought to dissolve the charitable group for alleged misspending. James has planned to oppose any effort to avoid her office’s oversight. The NRA said it is moving to be “free from the toxic political environment of New York.” (The New York Times, CNN, press releases here and here) ....

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Boies Schiller names new managing partner trio in latest leadership shakeup

Boies Schiller names new managing partner trio in latest leadership shakeup
14 December 2020
Move follows departure of co-managing partner Nicholas Gravante to Cadwalader at the start of December
Shutterstock
Boies Schiller Flexner (BSF) has named three new managing partners after co-managing partner Nicholas Gravante quit earlier this month to join Cadwalader Wickersham & Taft, rounding off a turbulent year for the high-profile New York-based litigation firm that has seen dozens of partners head for the exit.
BSF has appointed Sigrid McCawley, Matthew Schwartz and Alan Vickery to the shared managing partner role, with Gravante’s previous co-managing partner, Natasha Harrison, promoted to deputy chair. ....

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Boies Schiller names 3 new managing partners after tumultuous year

Boies Schiller Flexner has picked its new crop of leaders.
Alan Vickery is a longtime partner at Boies Schiller and Matthew Schwartz joined the firm in 2015 from the US Attorney s Office for the Southern District of New York.
Sigrid McCawley, based in Florida, where the firm has three offices, is known for representing some of Jeffrey Epstein s accusers.
Hamish Hume and Joanna Wright, two partners in New York, have been added to the firm s executive committee.
Boies Schiller Flexner has picked its new crop of leaders.
The firm, which has seen some 60 partners depart this year after a transition to new leadership, has tapped Sigrid McCawley, Matthew Schwartz, and Alan Vickery to be its three new managing partners, three sources familiar with the promotion told Business Insider. ....

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