Chicago law school tops 2021 federal clerkship list; litigation funders move to D.C.; Cooley partner salary revealed

?? Happy Friday! The University of Chicago School of Law sent the highest percentage of 2021 graduates to federal clerkships. Litigation funders see Washington, D.C., as their next big market. A senior Cooley partner's pay is revealed. And DLA Piper is the latest firm to hire attorneys in large groups. Here's a look at the latest in the industry from?Reuters Legal ??

?? Which law schools sent the most 2021 graduates to federal judicial clerkships?

For the second year in a row, the University of Chicago School of Law sent a higher percentage of new graduates into clerkships with federal judges than any other law school. Of its 2021 graduates, 28%?landed the prestigious year-long positions, according to new data from the American Bar Association.

Associate Dean for Career Services Lois Casaleggi attributed some of the Chicago school’s recent success to putting clerkships on students' radars as soon as they arrive on campus.

“I think we’ve done a really good job of demystifying what this could be and what this search is like, because it’s an unusual type of job search and it’s an unusual type of job.”

Stanford Law School had the next-highest percentage of recent graduates in federal clerkships at nearly 27%, followed by Yale Law School at almost 20%. Harvard Law School led the pack by sheer number of 2021 graduates landing federal clerkships, with 85.

Here are the law schools that crushed the 2021 job market and sent the most number of graduates to big law firms.

?? Litigation funders are setting up shop in the nation's capital

Validity Finance became the second major litigation funder to expand to Washington, D.C., this year, about two months after large funder Omni Bridgeway Ltd opened in the capital city with former Alston & Bird commercial and antitrust litigator Jason Levine.

Validity said it is launching in D.C. with Greenberg Traurig international disputes lawyer Nicole Silver.

Both funders said opportunities in the Washington legal market, including international disputes and antitrust cases, made the city attractive. Jim Batson, a managing director and co-chief investment officer in the U.S. at Omni Bridgeway, said the company saw Washington as a "largely untapped market for our business," with "very little presence" from other funders:

"We've always had a lot of business coming out of D.C., but it seemed to be increasing almost exponentially."

Litigation finance firms fund a case or portfolio of cases in exchange for a cut of any financial recoveries. The?practice ?has grown in the U.S. in recent years, with many funders operating out of the financial centers of New York and Chicago.

?? Partner pay watch: Cooley cyber vice-chair up for U.S. privacy board

Vice-chair of Cooley's cyber, data and privacy group Travis LeBlanc reported receiving nearly $7.5 million in salary and bonus over a two-year period from the U.S. law firm, according to?an ethics form ?released as part of his nomination to serve on a federal privacy board.

LeBlanc, whose clients include Coinbase, Meta Platforms and Twitter, was?nominated ?last month U.S. by President Joe Biden to continue his part-time service on the federal Privacy and Civil Liberties Oversight Board, which he first joined in 2019.

LeBlanc joined Cooley in 2019 from Boies Schiller Flexner, where he was a partner. On an earlier financial disclosure, from 2019, he?reported ?more than $2 million in salary and bonus from that firm.

Cooley's profits per equity partner reached more than $4 million in 2021, marking a nearly 30% rise over the prior year, according to a March report at industry publication The American Lawyer.

?? DLA Piper snags 27 attorneys from Honigman as law firms hire large groups

One of the highest-grossing U.S. law firms DLA Piper said it has poached a team of 27 private equity lawyers from Detroit-based Honigman, including Harris Eisenberg, managing partner of Honigman's office in the city, and Alex Plakas, co-leader of Honigman's private equity practice.

Kay Hoppe, a Chicago-based legal recruiter, said she is already hearing from other lawyers who have also been contacted about joining DLA Piper in light of the group move.

"Whenever you can get a big chunk of private equity, that’s a big deal, That’s what everyone wants."

DLA Piper's hire marks the latest big group of attorneys to shuffle between major U.S. law firms within the past month. In late March, Stroock & Stroock & Lavan?lost ?nearly its entire financial restructuring group, which?accounted for 29% ?of its revenue last year, to Paul Hastings.

Shortly after, Norton Rose Fulbright?doubled the size ?of its Minneapolis office by hiring from a local trial firm, and later?opened a Chicago office ?with a group of 11 lawyers from DLA Piper, K&L Gates and Polsinelli.

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