SLOW THOUSAND – With oral arguments out of the way, the US Supreme Court can now start digging out from under the hefty pile of cases that still need to be decided — or maybe just go on summer vacation instead. As Law.com’s Jimmy Hoover reports, SCOTUS has decided just 14 contested cases so far this term. The court had already decided 24 contested cases at this point in the two previous terms. The slow output means the justices will have to decide 45 cases, more than three-quarters of their term, by July if they want to leave in time for their regularly scheduled summer vacation. Among the pending cases are those that raise deeply divisive questions about affirmative action in college admissions, LGBTQ rights, voting rights and more.
HERE COMES THE SUN? – Law firms’ capital markets practices have slowed to a crawl in the past year, with work in IPOs and SPACs plummeting amid a broader decline in trading activity. And there is growing concern that these trends will continue through 2023. Still, as Law.com’s Andrew Maloney reports, some dealmakers and firm leaders remain optimistic about capital markets practices over the long term, even if hiring in some of these practices is slow in the short term term. In general, Big Law’s view of capital markets — and trading activity more broadly — will depend on what time horizon you’re looking at, said Kent Zimmermann, legal management consultant at Zeughauser Group. “Everyone agrees the future is bright,” Zimmermann said. “It’s just—when does that future start?”