The National Law Journal’s Post

Overall, 2% of D.C. litigators fell within tier 1 billing rates (less than $450); 22% fell within tier 2 billing rates ($451-$700); and 51% fell within tier 3 rates ($701-$950).

FINRA dispute resolution stats through May are out. Arbitrations still down across the board. Overall, 1,066 arbitrations filed, down 26% from 2023. Customer claims are down 10%. Industry disputes were down 45%. FINRA mediation stats through May are out: 219 cases, down 31% from 2023. Settlement rate is 87%.  https://lnkd.in/d3NpCw7

FINRA dispute resolution stats through June are out. Arbitrations still down across the board. Overall, 1,297 arbitrations filed, down 24% from 2023. Customer claims are down 9%. Industry disputes were down 42%. FINRA mediation stats through June are out: 268 cases, down 27% from 2023. Settlement rate is 87%. https://lnkd.in/d3NpCw7

The #IRS has formed a new "Alternative Dispute Resolution Program Management Office." Alternative Dispute Resolution (ADR) is not a new thing - the IRS has offered it for years. It appears the new office will be tasked with educating taxpayers about ADR options, such as Fast Track Settlement, Fast Track Mediation, Rapid Appeals Process, and Post-Appeals Mediation. The new office will also pilot new ADR approaches. This sounds like a step in the right direction. #taxprofessionals

The trend towards higher billing rates continues! According to a new survey from the National Association of Legal Fee Analysis, D.C. emerged as the top city for litigation billing rates in 2023, with a notable 25% of respondents reporting hourly rates surpassing $951, the highest among 24 tracked cities. Major law firms' presence in the region was highlighted as a key contributing factor to these high billing rates. Over 2,000 D.C. attorneys participated in the survey, revealing that a quarter fell within the top billing tier, ranging from $951 to over $1,300. The survey results pointed towards a positive year-end financial performance for D.C. firms, with an average billing rate increase of 8.8%, outpacing the industry average. This growth was fueled by heightened demand in litigation and regulatory practices. Looking ahead, billing rate hikes are expected to continue, with 86% of large firms in the U.S. and U.K. anticipating rate increases in the coming year, reflecting an ongoing trend towards higher billing rates across the legal sector. https://lnkd.in/g6WTGn5Z

Great insights, Susan G. Agopian! The trend towards higher billing rates is certainly one to watch. It's interesting to see how D.C. is leading the way in litigation billing rates, and the strong performance of the region's firms is impressive. Thank you for sharing this valuable information! #LateralLink #LegalIndustry #BillingRates #LegalTrends

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1Q 2024 FINRA dispute resolution stats are out. Arbitrations still down across the board. Overall, 638 arbitrations filed, down 10% from 2023. Customer claims are down 5%. Industry disputes were down 19%. https://lnkd.in/d3NpCw7 1Q 2024 FINRA mediation stats are out: 130 cases, down 43% from 2023. Settlement rate is 86[1]%.

Learn about the latest legal developments in preference claims monetization from Lowenstein Sandler LLP's Eric Chafetz and Brittany M. Clark in their latest article in the Credit Research Foundation Journl. #bankruptcylaw #bankruptcy #bankruptcynews #corporatelaw #lawyers

February 2024 FINRA dispute resolution stats are out. Arbitrations still down across the board. Overall, 414 arbitrations filed, down 9% from 2023. Customer claims are down 7%. Industry disputes were down 14%. https://lnkd.in/d3NpCw7 February 2024 FINRA mediation stats are out: 78 cases, down 34% from 2023. Settlement rate is 87%.