UK firm Withers increased profitability by 64 per cent in the 2009/10 financial year, while turnover dropped marginally to £92.7 million ($160.8 million), reports The Lawyer. Average profit per equity partner (PEP) rose by 31 per cent from £273,000 to £357,000.
UK giant Clifford Chance bolstered its trainee retention rates with 79 per cent of September qualifiers opting to stay with the firm, reports legalweek.com. The firm's offer rate was 82 per cent, with 60 jobs offered to 73 qualifiers, of which 58 were accepted. The numbers are an improvement of almost 10 per cent on the March 2010 and September 2009 rates.
US firm O'Melveny & Myers commenced proceedings against MGA Entertainment for payment of $US10.2 million ($11.6 million) in unpaid legal fees relating to a long-running dispute with Mattel over ownership of the Bratz fashion dolls line, reports law.com. The firm filed the law suit against California-based MGA in Los Angeles County Superior Court last week.
Global giant DLA Piper posted a 1 per cent decrease in fee income for the 2009 financial year, with PEP falling by 18 per cent, reports The Lawyer. The firm had an average of one extra equity partner in 2009 compared to 2008 and the equity spread ranges from £225,000 ($390,000) to £1.5m, as opposed to £325,000 to £1.5m in 2008.
Italian firm Bonelli Erede Pappalardo has re-elected its managing partner, Alberto Saravalle, for a second term, reports legalweek.com. The uncontested election took place on 10 July. There is also a new partners committee which will remain in place until spring 2013. Saravalle said of his re-election: "We are focusing on our medium to long-term strategy. The crisis has reshaped the market, forcing firms to compete more fiercely to maintain their position."
EBay Inc. has been slapped with a $US3.8 billion ($4.3 billion) patent infringement lawsuit, reports law.com. XPRT Ventures LLC, which owns patents regarding e-commerce payments, filed a law suit in US District Court for the District of Delaware against eBay, alleging infringement of six XPRT patents and also a misappropriation of information provided in confidence.