World Cup Predictions, Big Law Lateral Moves & Industry Trends
As the 2026 FIFA World Cup begins, lawyers and law firm partners from around the world are weighing in on their tournament predictions, with Spain, France, Brazil, Argentina, and England emerging as the most frequently mentioned contenders. Spanish partners were especially confident in their national team, citing its young talent, depth, and recent European Championship success, while many international lawyers also viewed Spain as the team to beat. Others favored France for its star power led by Kylian Mbappé, while partners in Argentina and Brazil backed their home nations, pointing to Lionel Messi’s leadership and Carlo Ancelotti’s arrival as Brazil manager. English lawyers expressed cautious optimism about England’s chances, though many still predicted France or Brazil would ultimately lift the trophy. Across the legal industry, the predictions reflected a mix of national pride, friendly rivalries, and recognition that the expanded 48-team tournament could produce surprises.
MARKET MOVEMENTS
Former White & Case M&A lawyer, Ty C. Akkoyun, joins Broadfield in NYC as Partner and Innovation Chair
King & Spalding takes 8-partner arbitration team led by Gary Born from WilmerHale
DOJ healthcare fraud veteran, Susan Carney Lynch, joins Bryan Cave LLP
O'Melveny energy deals partner, David Aaronson, jumps to McGuireWoods LLP in Houston
FIRM SPOTLIGHT - MUNGER TOLLES & OLSON LLP
Founded in 1962, Munger, Tolles & Olson LLP has grown into one of the nation's most prestigious litigation-focused law firms, with offices in Los Angeles, San Francisco, and Washington, D.C. Known for its highly selective hiring process and strong emphasis on recruiting judicial clerks, the firm has built a reputation for excellence across litigation, antitrust, securities, white collar defense, and appellate work. Munger has topped The American Lawyer A-List 11 times, most recently in 2025, and represents major corporations, financial institutions, universities, and government entities. The firm is also recognized for its unique "ownership mentality," giving associates significant involvement in firm decisions and offering an accelerated path to partnership compared to many peer firms.
INDUSTRY INSIGHTS
As its profits spiked by 20% last year, Kirkland & Ellis' associate ranks swelled by nearly 8% to 2,322 from 2,152 in 2024. That's above the collective Am Law 100 3% increase in associates. Kirkland, which announced this month it's investing $500 million in AI technology over the next few years, also increased the size of its first-year associate class last year by 13%, to 429 associates.
Fox Corporation is acquiring streaming platform Roku, with the parties being advised in the deal by Weil, Gotshal & Manges LLP and Goodwin Procter, respectively. The deal is valued at $22 billion, according to a press release, with Fox acquiring Roku for $160 per share in both cash and stock. At closing, Fox shareholders will own about 73% of the combined company, while Roku shareholders will own 27%.
The 400 largest U.S. law firms increased attorney headcount at a faster rate in 2025 than the two previous years. Overall, the top 400 firms expanded by more than 3.4% in 2025, up from 3.1% in 2024, as firms invested in strategic lateral hiring and, in some cases, executed mergers to bolster their ranks.
Since Milbank LLP announced it is raising its associate base pay scale in early June, a number of law firms have matched or exceeded the compensation scale, which ranges from $235,000 to $455,000.
Kirkland's Path to the Top of the U.K. Market
The U.K. legal market is undergoing a major shift, with U.S. firms poised to overtake the traditional Magic Circle as the dominant players. Kirkland & Ellis is projected to become the largest law firm in the U.K. by 2028, while Latham & Watkins is expected to rank among the top four, reflecting the growing influence of American firms in London. Some argue that the traditional Magic Circle firms no longer reflect today's market, as American firms like Kirkland, Latham, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Simpson Thacher & Bartlett LLP, and Quinn Emanuel now lead in profitability, pricing power, and high-end work. While questions remain about the long-term sustainability of their dominance, the rise of these firms signals a new era in which the U.K. legal market is increasingly shaped by global, U.S.-led institutions rather than British-headquartered firms.
Inside the Insider Trading Case Rocking Big Law
A major insider trading case involving lawyers from top firms is heading toward a trial-heavy defense strategy that may mirror the “Varsity Blues” defense approach, arguing that conspiracy was not properly pleaded. Prosecutors allege that attorney Nicolo Nourafchan and others ran a broad scheme to trade on or share confidential M&A information taken from major law firms, spanning 30 defendants across two indictments. The defense is expected to argue there was no single conspiracy, but rather smaller, disconnected schemes, and that some information was already public or misinterpreted. Lawyers also plan to challenge cooperating witnesses and the government’s theory of coordination, while prosecutors rely on insider testimony and encrypted communications. Ultimately, the case may turn on what each defendant knew and whether a unified conspiracy can be proven.
