Legal News

Lawsuit by Former Labaton Associate Against Firm can Proceed

Posted on January 12, 2010
A Manhattan Supreme Court Justice has ruled that a former associate's claim against Labaton Sucharow for breaching an agreement over origination fees can proceed.

Rakoff Shoots Down the SEC in BofA Case

Posted on January 12, 2010
The judge proves once again that he is an equal opportunity rejection artist.

McGwire's Hunton Lawyer Praises Hitter for Coming Clean on Steroids

Posted on January 11, 2010
Former baseball star Mark McGwire admitted on Monday to using steroids throughout his career. McGwire was vilified for refusing to answer questions about steroid use during contentious 2005 testimony before Congress. One of McGwire's lawyers who advised the hitter, Hunton & Williams partner Mark Bierbower, tells The Am Law Daily that his client made the right decision to withhold information then and come clean now.

BofA Objects to SEC's Move Adding New Merrill Charge

Posted on January 11, 2010
Judge Jed Rakoff will hold a hearing late today to consider the issue.

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It's On: South Butt Creator "Little Jimmy Winkelmann" Fires Back at North Face

Posted on January 11, 2010
In a case that's drawing national media attention, and more than a few chuckles, The North Face clothing maker has tapped Bryan Cave and Greenberg Traurig for its suit against the college freshman who is the brains behind a clothing line dubbed "The South Butt...

Cleary, Gibson Dunn Slake M&A Thirst With $7.6 Billion Beer Deal

Posted on January 11, 2010
Dutch brewer Heineken has agreed to acquire Mexican brewer Femsa, maker of Dos Equis, for $7.6 billion. Cleary Gottlieb and Gibson Dunn are leading on U.S. legal issues with Magic Circle firms Allen & Overy and Freshfields Bruckhaus Deringer also on hand.

Milbank Partner Quits Firm One Week after Joining

Posted on January 11, 2010
A partner in Milbank, Tweed, Hadley & McCloy's Munich office has quit amid allegations of personal misconduct, just one week after joining from German firm Hengeler Mueller.

Law Firms Are Tough to Sue

Posted on January 11, 2010
Am Law 100 firms went 3-for-3 late in recent cases against them in New York.

Report: Career Troubles Led to Violent Attack on Skadden Lawyer

Posted on January 11, 2010
The Connecticut Law Tribune reports that John Michael Farren's vicious attack last week on his wife--Skadden Arps energy regulation and litigation counsel Mary Margaret Farren--stemmed from frustrations over his stalled legal career.

LETTER FROM ASIA: China Investigation into Espionage/Bribery at Rio Tinto Wraps

Posted on January 11, 2010
The Chinese government has wrapped up its investigation of industrial espionage and bribery charges against four executives of Anglo-Australian mining giant Rio Tinto Group and referred the matter to the Shanghai People's Procuratorate for a decision on whether to prosecute.

Here We Go: The Prop 8 Trial Begins

Posted on January 11, 2010
Today marks the beginning of the Proposition 8 trial in California. Stay tuned--Ted Olson's opening statement is coming shortly (but not on YouTube).

Litigation Department of the Year: O'Melveny & Myers, General Litigation Finalist

Posted on January 11, 2010
Creativity, innovation (especially when it comes to alternative fee arrangements), and a keen focus on the client's interests: These are the traits that set O'Melveny apart.

Big Law Gets Small Screen Treatment--Again

Posted on January 08, 2010
Legal dramas such as L.A. Law and Ally McBeal have enjoyed critical and commercial success, while others (The Associates, anyone?) haven't fared so well. Now a new ABC series created by a Loeb & Loeb alum tries to make its case for why TV viewers should care about law firm life...

The Bankruptcy Files: Once Upon A Mattress

Posted on January 08, 2010
If the first week of 2010 is any indication, bankruptcy might not slow down as much as expected this year. Weil, S&C, W&C, Davis Polk, and Pachulski Stang have landed prime roles on the latest Chapter 11 assignments.

Game Off: Downturn Hitting Lawyers Where They Work and Play

Posted on January 08, 2010
The recession's impact on the legal trade isn't confined to fee structures and compensation models. Lawyers' sports leagues across the country are suffering too, as cost-conscious firms cut back on entry fees for teams and layoffs shrink the pool of potential players...

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

Posted on January 08, 2010
A U.S. attorney comes to Locke Lord, Arnold & Palmer snatches two London lawyers, and Shearman & Sterling follows suit in Hong Kong. Plus: moves to Greenberg Traurig, Hinshaw & Culbertson, Jones Day, K&L Gates, Loeb & Loeb, Milbank, Prince Lobel Glovsky & Tye, Sedgwick, Sutherland Asbill & Brennan, and Zuckerman Spaeder...

The Insider Trading Merry-Go-Round

Posted on January 08, 2010
A former McKinsey director pleads guilty in the Galleon insider trading probe, a Toronto lawyer gets 39 months for pocketing $10 million in illegal profits, and a former SAC Capital analyst is caught up in a separate probe of a former Blackstone Group investment banker.

Drew Brees: Saints Quarterback and Judicial Analyst?

Posted on January 08, 2010
The star of the New Orleans Saints is lobbying the U.S. Supreme Court to side against the NFL in a landmark case scheduled for arguments next week.

Legal Sector Lost 2100 Jobs in December

Posted on January 08, 2010
The legal services sector lost another 2,100 jobs last month, according to the latest report from the Bureau of Labor Statistics.

Hijack Victims Sue Crowell & Moring

Posted on January 08, 2010
Two sisters wounded in a 1986 hijacking say the firm wasn't honest with them about how proceeds from a larger lawsuit against Libya would be distributed.

Letter from Asia: When in Hong Kong...

Posted on January 08, 2010
Shearman & Sterling's announcement this week that it has acquired a Hong Kong law practice again is spotlighting an ongoing debate among leading Wall Street firms about whether or not to go local in the red-hot market.

Two New MPs at Foley Hoag

Posted on January 07, 2010
Foley Hoag litigator William Kolb and environmental/energy partner Adam Kahn have been selected as joint managing partners, succeeding Robby Sanoff.

Ex-Bush Attorney Accused of Attempting to Murder his Wife, a Skadden Partner

Posted on January 07, 2010
John Michael Farren is being held on $2 million bond.

Report: Sonnenschein Worked for Treasury and Private Client on TALF

Posted on January 07, 2010
A Washington Times story published Thursday says the firm worked for the Treasury Department on the Federal Reserve's Term Asset-Backed Securities Loan Facility (TALF) program while at the same time lobbying on behalf of a private client to have that program expanded...

Four Partners Leaving Latham

Posted on January 07, 2010
Latham & Watkins M&A partner David Schwartzbaum in New York, IP litigator Kenneth Fitzgerald in San Diego, and IP litigators Emmanuel Baud and Jean-Christophe Tristant in Paris will be continuing their legal careers elsewhere in 2010.

No 2L Offers Until January?

Posted on January 07, 2010
That's the central recommendation from a commission charged with revamping the 2L recruiting process.

Davis Polk in the Spotlight

Posted on January 07, 2010
Did the firm, in its representation of the New York Fed during the height of the economic crisis, encourage AIG to obscure the scale of the insurer's payment to various counterparties?

Law Firm Mergers: Up or Down in 2009?

Posted on January 07, 2010
Altman Weil's MergerLine report found that the number of law firm mergers last year dropped to 53, down by 24 percent from 2008. Hildebrandt Baker Robbins' MergerWatch report says mergers were up slightly, from 55 in 2008 to 57 in 2009. What gives?

In-house at The American Lawyer

Posted on January 07, 2010
Some firms seem to have a clear head start on reengineering their organizations. It's hardly too late for the rest of the pack to start.

Irell Shares the Wealth After an "Outstanding" 2009

Posted on January 06, 2010
The 200-attorney Los Angeles firm is giving bonuses ranging from $15,000 for the class of 2008 to $70,000 for the class of 2002.

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