Global firms back next-gen leadership diversity targets

Many global law firms and in-house legal departments have signed up to an extended set of guidelines to boost diversity in leadership.

The Mansfield 2.0 Rule is the follow-on from the inaugural pilot which was one of the winners of the 2016 Women in Law Hackathon hosted by Diversity Lab in collaboration with Bloomberg Law and Stanford Law School.

Named after Arabella Mansfield, the first woman admitted to the practice of law in the United States, the Mansfield Rule measures whether law firms have affirmatively considered women, LGBTQ+, and minority lawyers – at least 30% of the candidate pool – for promotions, senior level hiring, and significant leadership roles in the firm.

Among the firms who are taking part in this second wave, which began last month and runs for a year, are Baker McKenzie, Eversheds Sutherland, Norton Rose Fulbright, Hogan Lovells, DLA Piper, and Dentons.

"We are making important strides in advancing Dentons’ deep commitment to becoming an even more diverse and inclusive workplace, and know that we must continue our efforts every day," stated Dentons US CEO Mike McNamara. "I am very proud that Dentons is continuing its participation with Diversity Lab and the Mansfield initiative to further promote diversity and inclusion across our profession."

Reed Smith is also among the 65 firms to be taking part and global managing partner Sandy Thomas says the first year made a real difference.

"Over the past year, the Mansfield Rule has further sharpened our focus on the promotion and recruitment of women and diverse partners and their appointment to leadership positions,” he said. “The results from the first

year demonstrate how much can be achieved when law firms work together to move the needle on diversity.”

Slater and Gordon files proceedings against Murray Goulburn
Australia’s largest milk supplier, Murray Goulburn Co-operative Co Limited and its subsidiary MG Responsible Entity Limited, are the subject of an investor class action filed by Slater and Gordon.

“We have had very strong interest in this class action. Our clients collectively invested many millions of dollars in the company, on the back of statements by Murray Goulburn that appear to have been made without any reasonable basis,” Slater and Gordon senior lawyer Andrew Paull said.

The action alleges that:

1. The Murray Goulburn entities misled investors by issuing the FY16 profit forecast in the PDS and/or the revised forecast in February 2016, without a reasonable basis;
2. The Murray Goulburn entities are responsible for breaches of continuous disclosure obligations under the ASX Listing Rules and the Corporations Act 2001 (Cth) by failing to announce the FY16 downgrade, prior to 27 April 2016.

The action is being funded by global litigation funder IMF Bentham Ltd.

HSF loses trio to US firm
Three lawyers, including a practice head, have left the London office of Herbert Smith Freehills to join US-headquartered Morgan Lewis.

Mark Geday, who was head of private equity in the London office, had been with the firm for 22 years, and has left along with corporate partners Nicholas Moore and Tomasz Wozniak.

The trio were based in London but were also regulars at HSF’s Moscow office.