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Legal News

The AM Law Daily

Daily legal news from American Lawyer magazine.
By American Lawyer

Post Frequency: 9.5/day

Last Entry: March 30, 2011 at 21:00:00

Cleary Killing It in Nortel Bankruptcy

Posted on July 15, 2010
Once one of the largest telecommunications companies in North America, Nortel Networks filed for bankruptcy in January 2009. Since then the Toronto-based company has helped its Chapter 11 counsel at Cleary Gottlieb Steen & Hamilton and several other firms earn a fortune in bankruptcy fees.

The Careerist: Who Needs Performance Reviews?

Posted on July 15, 2010
There's a lot of hype and tension surrounding annual reviews, but is all the fuss worth it? And do they ultimately make any difference at all in how people perform?

Latham, S&C Advise on $3.8 Billion Carlyle Buyout of Vitamin Maker NBTY

Posted on July 15, 2010
The Carlyle Group's $3.8 billion acquisition of supplement maker NBTY is one of the year's largest leveraged buyouts to date.

Goldman, SEC Reach Record $550 Million Settlement

Posted on July 15, 2010
Three months after the SEC first filed securities fraud charges against Goldman Sachs, the financial services giant has reached an agreement with the regulator to pay $300 million in fines and another $250 million in restitution. The settlement amount represents the largest penalty ever paid by a Wall Street firm.

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The Reinvention of a Partner

Posted on July 15, 2010
Greenberg Traurig partner Thomas Galli advised a private equity firm that purchased a pool of bad bank loans from the FDIC. It's the kind of assignment he sacrificed almost all of 2009 to win in 2010.

Covington, Katten, Arent Fox on Record Setting Golden State Warriors Sale

Posted on July 15, 2010
The new owners topped bids from the likes of Oracle CEO Larry Ellison and picked up the basketball team for a cool $450 million.

Dechert Parses Financial Reform Bill (in 240 Pages) for the ABA

Posted on July 15, 2010
The 22 Dechert lawyers behind the new report say they worked nearly 24 hours a day for three weeks to analyze and produce detailed summaries of the reform bill's provisions. We hope they're getting some rest now that they're done.

S&C's Rodge Cohen: Financial Reform Bill Has 'Substantial Teeth'

Posted on July 15, 2010
Wall Street's "trauma surgeon" says the legislation holds some nasty surprises for his high-rolling client base.

Harry Potter and the Curse of IP Litigation

Posted on July 15, 2010
The author of the Harry Potter series is facing another IP headache. This time Andrews Kurth claims J.K. Rowling ripped off a prior British wizard book.

Could Document Unearthed in Bingham Vault Decide Dodger Drama?

Posted on July 14, 2010
Ownership of the Los Angeles Dodgers hangs in the balance of real estate investor Frank McCourt's hard-fought (and heavily lawyered) divorce battle. Now that the authenticity of a seven-page document discovered in a vault at Bingham McCutchen has been verified, the fate of the team may be closer to being decided.

The Careerist: Smarties Aren't Rushing to Law School

Posted on July 14, 2010
Just when everyone and their mother seem to be applying to law school, some of the nation's most sought-after college graduates are turning down acceptances at prestigious law schools to work at inner-city schools.

A New Lehman Fight: Quinn vs. Wachtell

Posted on July 14, 2010
Mark your calendars for 2012.

Pro Bono 2010: Early Intervention

Posted on July 14, 2010
Legal assistance programs have surfaced across the country to combat the mortgage crisis but many have had a hard time attracting pro bono help from large law firms--given the potential for conflicts of interest. To bypass any conflicts, some programs are working with homeowners preforeclosure.

Manatt's Total Bill for Controversial Jamaican Lobbying Pact: $65,000

Posted on July 14, 2010
A new filing with the Justice Department shows that--in addition to the $50,000 it previously disclosed getting to lobby U.S. officials over unspecified "treaty issues" on behalf of the Jamaican government--Manatt, Phelps & Phillips was paid $15,000 in March in connection with the same contract...

Send the Elevator Back Down

Posted on July 14, 2010
Maybe someday the law firm benefactors bankrolling the National Association for Law Placement will allow that organization to be more transparent on a topic of central importance to law students trying to make career decisions--partnership status and the numbers of equity and nonequity partners at U...

Orrick, Greenberg Lead on FDIC Sale of Loan Portfolio

Posted on July 14, 2010
The collapse of the economy continues to provide work for lawyers.

Bracewell & Giuliani Sets Up Shop in Seattle

Posted on July 14, 2010
Looking to be closer to a Canadian client and hoping to capitalize on a growing renewable energy market, Bracewell puts down roots in the Pacific Northwest.

Jenner & Block Signs Off from Lehman Bankruptcy, $54 Million Richer

Posted on July 14, 2010
Not a bad haul for work that historians will likely cite decades from now.

O'Melveny Sues MGA Entertainment Over $10.2 Million in Unpaid Legal Fees

Posted on July 13, 2010
The firm is seeking payment of millions of dollars in unpaid legal fees related to MGA's long-running legal dispute with Mattel over ownership of the popular Bratz line of fashion dolls.

Davis Polk, Dorsey & Whitney Tapped for Tyco Electronics' ADC Buy

Posted on July 13, 2010
The $1.25 billion deal allows Tyco Electronics to expand its broadband arsenal.

Sign of the Times: Even Cravath Has to Sell Itself

Posted on July 13, 2010
The firm is beefing up its marketing team, but sources caution against reading too much into this development.

Blind Law Grads See Injustice in Bar Exam Rules

Posted on July 13, 2010
Three legally blind law grads are suing the National Conference of Bar Examiners, accusing the group of violating the Americans With Disabilities Act and challenging the way the Multistate Bar Exam is administered to people with visual disabilities.

White & Case Joins Rangers Bankruptcy Case

Posted on July 13, 2010
The Texas Rangers may have bolstered their roster for a playoff run with the recent additions of Cliff Lee and Bengie Molina, but a civil suit filed Monday in connection with the franchise's Chapter 11 case has plunged the team's ownership situation into further disarray.

Court Strikes Down Fleeting Expletives in Win for Sidley, Gibson Dunn

Posted on July 13, 2010
Curse away, you randy celebs!

The Churn: Lateral Moves and Promotions in The Am Law 200

Posted on July 13, 2010
Brownstein Hyatt adds two shareholders in L.A.; a former Texas state representative signs on with Greenberg Traurig; and Sonnenschein continues to expand in preparation for its merger with Denton Wilde Sapte. The Churn is constant. Please send announcements and press releases to thechurn@alm...

The Careerist: Paul Hastings Looks for "Drive"

Posted on July 13, 2010
We talk to Paul Hastings attorney Leigh Ryan in the latest installment in a series of hiring partner interviews. Ryan, who is based in San Diego, describes the most convincing type of job candidate.

Is the Court System for Ordinary Folks Broken?

Posted on July 13, 2010
A couple of stories out today indicate it is at least getting worse.

Davis Wright On Old School Porn Obscenity Case

Posted on July 13, 2010
An adult film producer faces 32 years (!) in prison for producing two allegedly obscene DVDs and one movie trailer.

Pro Bono 2010: Solitary Men

Posted on July 12, 2010
When is solitary confinement justified, and how long should it last? The questions are central to Squire Sanders partner George Kendall's work representing the Angola 3 and DLA Piper partner Lawrence Wojcik's work on behalf of inmates at Tamms Correctional Center...

The Careerist: What Kindergarten Can Teach You About Clinching a Job Offer

Posted on July 12, 2010
Quick: What's harder--getting your child into a tony kindergarten program in Manhattan, or landing a junior associate position at one of the world's leading firms?

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