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My experience from about 10 years ago…
Pros: you get lots of deposition and briefing experience early. They pay Cravath scale.
Cons: regardless of official hours target, the goal is 2400 billables/year for partnership consideration. Lack of in-court trial opportunities, as trial team joins just for trial, and junior partners snag up the crumbs.
Mostly a plaintiff’s firm, so limited chances to move in-house to an institutional clients. Great place to spend the first few years and transition to a BigLaw firm, if you can’t snag a BigLaw job out of law school.
They were at their peak about 15 years ago and at the time were one of the best patent trial firms in the country (conveniently also at the peak of national patent litigation). They also grew very rapidly by absorbing in new attorneys (including their LA office and the now defunct Bay Area office).
Since than they have lost a lot of talent both due to retirement and laterals/spin off firms (i.e. Caldwell Cassidy, Robin Cohen's policyholder firm, Courtland Reichman). Their overall headcount has dropped off. (As an aside Sam Baxter is still kicking somehow with his ~22 fourth or fifth wife. Lots of very scandalous stories about him and his dungeons---that ar mostly true---if you ask around).
Still does a decent amount of plaintiffs work but would say a lot of their patent work today comes from Ericsson. Nick Matthews has emerged as the main client attorney for this work. Ted Stevenson managed to take a lot of this work with him to Alston though.
Chelsea Davis was batshit crazy, but her wide ranging allegations against McKool and partners were not totally untrue. McKool less a campaign to get much of the lawsuits sealed to keep things quiet. https://www.dallasobserver.com/news/a-dallas-lawyer-claims-her-boss-forced-her-into-sex-slavery-thinks-navy-seals-are-watching-her-7126872