Most law firm leaders admit that recession-driven responses to their pricing practices and their clients' expectations that work be done efficiently are likely here to stay, according to a survey released Tuesday of 238 firms. At the same time, most respondents to the Altman Weil survey acknowledge that they have been slow to alter their long-term strategies to address those changes.
Big banks have flat out admitted to regulators that they rigged LIBOR, but so far litigation over the global benchmark interest rate has been a major disappointment for investors. Quinn Emanuel Urquhart & Sullivan wants to turn things around. The firm joined the LIBOR battle for the first time on Monday, filing a complaint in New York on behalf of Salix Capital seeking $250 million in damages.
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