Survey: In-House Lawyers to Scale Back Class Action Spending

Wall Street Journal (Link to Full Article) Is 2012 the year of magical budgeting? Despite an expected uptick in class actions this year, companies said they plan to spend less money to fend off such suits, according to a new survey out Tuesday. How, might you ask? The plan — as loyal Law Blog readers may have guessed — primarily involves knuckling down on outside counsel, which accounts for about 90% of the money law departments spend on class actions. The latest numbers...

Funds Spring Up to Invest in High-Stakes Litigation

Wall Street Journal (Link to Full Article) A new breed of profit-seeker sees a huge, untapped market for betting on high-stakes commercial claims. Companies will spend about $15.5 billion this year on U.S. commercial litigation and an additional $2.6 billion on intellectual-property litigation, according to estimates by BTI Consulting Group Inc., a Wellesley, Mass., research firm that surveyed 300 large companies in 2011.

Clients Audit the Big 4 - 60% are Happy

CFO Magazine (Link to full article) The Big Four may have a lock on much of the auditing market for public companies, but that doesn't mean they have a lock on customer satisfaction. About 40% of finance executives at large publicly traded companies that use a Big Four firm do not recommend the firm to others, and 18% are actively considering changing firms, according to a recent BTI Consulting survey of more than 230 finance executives.

Corp. Counsel To Subject Firms To Pass/Fail Test

Law 360 (Link to full article) With shrinking budgets and expanding legal demands, corporate counsel are planning to put their outside firms to a tough pass-or-fail test in 2011 to determine whether their high expectations are being met, a new report on corporate legal spending says.

In-House Counsel Ready To Shop Around In 2011

Law 360 (Link to full article) Growth in the corporate legal market is expected to level off in 2011, creating fierce competition among firms fighting to grab and hold on to the few new opportunities out there, a new report on corporate legal spending says.

How To Become Your Client's Primary Litigation Firm

Law 360 (Link to full article) Law firms angling to become a client's primary litigation firm — the one that does the bulk of that company's litigation work — need more than just outstanding legal skills; they need to offer top-notch client service too, a new report shows. 

The 4 Firms In-House Counsel Fear The Most

Law360 (Link to full article) When in-house counsel look across a courtroom, there are a few firms that they don't want to ever see as opponents, a new survey has found.

Some Practices Set To Earn Top Billing Rates In '11

Law360 (Link to full article) Corporate counsel expect securities litigation to command top billing rates among major practice areas in the coming year, though there will be only a slight increase in overall litigation spending, a new report has found.

Drinker Biddle Creates Role of Chief Value Officer

Law.com (Link to full article) The addition of a CVO is being hailed as a business model shift for the legal industry, Drinker Biddle has hired BTI Consulting to help assess individual client needs and create a successful strategy for the firms newly minted value team.

Economic Worries Keep Cap On Litigation Boom

Law360.com (Link to full article) Things are improving and activity is up but hear what BTI President Michael Rynowecer has to say about the reality of corporate budgets for this year and beyond.