Legal News

Goldman's Go-To Abacus Firm: McKee Nelson

Posted on April 27, 2010
The securitization and tax powerhouse is now part of Bingham McCutchen. But before that, the firm was outside counsel to Goldman Sachs in the controversial Abacus deals at the heart of the SEC's suit against Goldman Sachs. Sullivan & Cromwell and Schulte Roth & Zabel played smaller roles in Abacus deals...

Rodge Cohen Warns Against 'Giant Squid Syndrome' as Senators Take on Goldman

Posted on April 27, 2010
The venerable former Sullivan & Cromwell chairman spoke Monday with Bloomberg TV about the SEC's charges against Goldman Sachs, saying he hoped the bank wouldn't be treated like an "evil empire."

McDermott Gets $4.3 Million Worth of Vindication

Posted on April 27, 2010
A federal appeals court panel has reversed a lower court's ruling that the firm should pay $4.3 million as punishment for its conduct during a patent infringement trial.

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

Posted on April 27, 2010
DLA Piper bolsters its sports, entertainment and finance practices with some talent from Nixon Peabody. Orrick names a new global co-head of the firm's private equity practice--a hire from Paul Hastings. And King & Spalding hires a new partner to co-chair its FDA/life sciences practice...

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CKE Says Yes...Again, This Time to Meatier Apollo Offer

Posted on April 26, 2010
The parent company of the Carl's Jr. and Hardee's fast food chains jilts private equity firm Thomas H. Lee Partners and its $900 million buyout offer to accept a $1 billion bid from an affiliate of Apollo Global Management. Stradling Yocca is seeing the deal through for CKE while Morgan Lewis is advising Apollo.

Three Firms in Driver's Seat on Hertz-Dollar Thrifty Tie-Up

Posted on April 26, 2010
Debevoise, Jones Day, and Cleary Gottlieb have landed lead roles on a major $1.2 billion merger between two leading companies in the rental car industry.

Davis Polk, O'Melveny, Cravath Advise on $1.6 Billion Drug Research Deal

Posted on April 26, 2010
Charles River Laboratories will  acquire WuXi Pharma Tech, a Chinese pharmaceutical outsourcing services provider, for $1.6 billion.

Simpson, Cleary, Davis Polk Lead on Treasury's Citi Sale

Posted on April 26, 2010
The government is ready to unload the first batch of its 7.7 billion Citigroup shares.

O'Melveny, Gibson Dunn, "Master of Disaster" Join Goldman Sachs Fracas

Posted on April 26, 2010
More details about the legal team assembled by the SEC to bring its case against Goldman Sachs emerged early Monday. Meanwhile the global financial services firm continues to bolster its own defense team. Goldman has retained "Master of Disaster" lawyer and consultant Mark Fabiani, as well as lawyers from O'Melveny & Myers and Gibson, Dunn & Crutcher.

Weil Lawyers Will Take Stand in Lehman-Barclays "Windfall" Brawl

Posted on April 26, 2010
And that's just one of a half-dozen major legal stories erupting around Lehman's bankruptcy.

Ratcheting Up PPP At a Mid-Sized Firm: Saul Ewing

Posted on April 26, 2010
Legal experts pegged Saul Ewing as an example of a mid-sized firm that would thrive in 2009. Were they right?

Happy Times Here Again for Silicon Valley's IPO Attorneys

Posted on April 26, 2010
Silicon Valley's corporate securities lawyers can smile again as tech companies are going public in increasing numbers for the first time in years. But a new survey shows that even with the upswing in offerings, it's still a buyer's market when it comes to legal fees.

Dealmaker of the Week: Charles Mulaney, Jr. of Skadden Arps

Posted on April 23, 2010
In leading the negotiations for Qwest in its acquisition of CenturyTel, Mulaney and his team focused, among other things, on figuring out how the merged company and its stockholders could best take advantage of Qwest's net operating losses to achieve tax benefits...

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

Posted on April 23, 2010
Blank Rome adds two partners, and Perkins Coie hires a partner to lead its new Dallas office. Plus: moves to Feldman Gale, Hayes and Boone, and Mayer Brown. The Churn is constant. Send announcements, news, and releases to editorial@alm.com.

Weil, Kaye Scholer Nail Down L'Oreal/Essie Tie-Up

Posted on April 23, 2010
L'Oreal gets a new line of nail lacquers with its purchase of salon favorite Essie Cosmetics.

The Bankruptcy Files: Big Filings Dry Up, But Others Remain

Posted on April 23, 2010
How much have big bankruptcies dropped off? No company with more than $1 billion in assets filed for bankruptcy in the first quarter of 2010, according to a turnaround and restructuring industry trade publication. But a steady pace of smaller filings has brought work to some firms like Kramer Levin, Pachulski Stang, and Goulston & Storrs...

Akin Partner Continues to Fight for Gay Divorce in Texas

Posted on April 23, 2010
State officials are appealing a lower court ruling that allowed a gay couple to divorce in Texas--and, for good measure, said that the state's ban on gay marriage violates the U.S. Constitution.

The Double-Edged Sword of the Tribune Examiner

Posted on April 23, 2010
Brown Rudnick asked for it, and now they've got it.

Three Firms Score With $10.8 Billion NCAA Basketball Deal

Posted on April 22, 2010
Weil Gotshal, Covington, and Robinson Bradshaw advised on a 14-year deal between the NCAA, CBS, and Turner Broadcasting to the NCAA's men's college basketball tournaments.

The Lehman Bill: Approaching $750 Million...And Counting

Posted on April 22, 2010
About $330 million of that has gone to law firms.

Kirkland, Baker & McKenzie on $1.9B BofA Private Equity Sale

Posted on April 22, 2010
Is there a more exciting area of corporate law right now than the nexus of private equity and banking?

Four Firms Nab Roles on London's Largest IPO in Three Years

Posted on April 22, 2010
Essar Energy, a subsidiary of Indian conglomerate Essar Group, has set a price range for its planned $2.5 billion London IPO. Four British and Indian firms have managed to land lead advisory roles on the offering.

Another Legal Issue for Goldman: Should It Have Disclosed the Investigation to Investors?

Posted on April 22, 2010
Another day, another (dozen or so) issues for Goldman Sachs in its battle with the SEC.

More Troubles For Ruden: Did the Firm Take $1.1M From An Alzheimer's Organization?

Posted on April 22, 2010
That's the allegation in a civil suit the association filed this month against the firm and two former executives. The reason for the alleged misappropriation? It's...not good.

Four Firms Busy on $10.6 Billion Qwest-CenturyTel Merger

Posted on April 22, 2010
Skadden, WilmerHale, Wachtell, and Jones Walker all have a piece of the $10.6 billion deal--the largest telecom deal in two years.

After 25 Years, A Government Lawyer Changes His Stripes

Posted on April 21, 2010
Mark Bartlett joined the Justice Department in 1985 after three years as an assistant district attorney in Manhattan. Now the longtime prosecutor is finally making a move to law firm life. Come April 27, Bartlett will be a partner in Davis Wright Tremaine's litigation group, but he'll always remember the tragedy that befell one of his former colleagues.

Under the Volcano: Tales of Stranded Lawyers

Posted on April 21, 2010
The ash cloud created by the eruptions from Iceland's Eyjafjallajokull Volcano is finally beginning to clear and Europe's airports are restarting normal operation, but plenty of global travelers remain grounded. We heard from two of them--Wilmer co-managing partner William Perlstein and Reed Smith partner Jacqui Hatfield, who filled us in on their experiences weathering what is surely a once-in-a-lifetime occurrence.

Davis Wright Steps Up For Amazon in North Carolina Tax Fight

Posted on April 21, 2010
Amazon says it's protecting customer privacy in refusing to turn over reams of data to North Carolina officials.

White & Case, Covington & Burling Advise on $1.65 Billion Energy Deal

Posted on April 21, 2010
Energy giant Calpine Corporation announced it will purchase a fleet of power plants from Pepco Holdings Inc., reinforcing its position as the largest independent power producer in the U.S.

Milbank Raids Shearman for São Paulo Outpost

Posted on April 21, 2010
Milbank is just the latest Am Law 100 firm to set up shop in São Paulo in recent months with designs on the booming Brazilian market.

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