Our knowledge of lateral partners keeps growing. We know that record numbers move each year, in, among and out of The Am Law 100 and 200. We know there is now a debate about their strategic value—what’s all this effort worth? And now, thanks to the latest survey of these portable lawyers from Major, Lindsey & Africa, the legal recruiting firm, and ALM Legal Intelligence, we know that most are very satisfied (52 percent) or somewhat satisfied (31 percent) with their moves, and that most (80 percent) would join the same firms if they had to do it all over again.
We also know that some of them, to use the cliché, had fools for clients. Only 36.6 percent reported reviewing their new firm’s financial statements. And, even more surprising, a jaw-dropping 40 percent admitted that they didn’t read the partnership agree ment of the law firm they were joining. Either that, or they didn’t read the survey question.
