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Lead Plaintiff Pick Rejected as Merely 'Pawn of Counsel'

New York Law Journal

A federal judge has rejected a proposed co-lead plaintiff for the Monster Worldwide securities fraud class action because the representative knew nothing about the case. Southern District of New York Judge Jed Rakoff had some pointed words for lead plaintiffs counsel Labaton Sucharow, saying the Steamship Trade Association International Longshoremen's Pension Fund was "simply the willing pawn of counsel" because it "has no interest in, genuine knowledge of, and/or meaningful involvement in this case."

Former SG Knocks Pro-Business Label for High Court

The Legal Intelligencer

Calling Chief Justice John Roberts Jr.'s Supreme Court "pro-business" is "far too simplistic" a characterization given the Court's output this term, according to former U.S. Solicitor General Paul D. Clement, who gave his fifth-annual Supreme Court roundup for the Philadelphia chapter of the Federalist Society. Clement gave particular attention to major employment, securities and punitive damages rulings -- and offered a preview of what next term could bring.

Hedge Funds Claim Victory in CSX Battle

The American Lawyer

The history of playground fights and corporate takeovers shows that winners don't have to play nice. Add another chapter to that book with Wednesday's announcement that two activist hedge funds succeeded in getting four of their five nominees elected to CSX Corp.'s 12-person board. Last month the funds had been verbally bludgeoned by a federal judge for "crossing the line" dividing legal from illegal activity and then using "formalistic arguments" to justify their bad acts.

N.Y. Court Affirms Ex-Law Firm Partner's Larceny Conviction

New York Law Journal

An appellate court has affirmed the conviction on larceny charges of a former law firm partner but has thrown out his conviction on two counts of evidence tampering. James P. Conroy was found guilty in 2003 on charges he facilitated a con man's theft of $27.7 million from an offshore investment fund. Prosecutors said Conroy, a former partner at the firm now known as Windels Marx Lane & Mittendorf, lent credibility to the scheme because he had been forced out of the firm and was in poor financial shape.

Defense Team Argues DOJ Ideology Spurred Money Laundering Indictment of Miami Attorney

Daily Business Review

Attorneys for indicted Miami attorney Ben Kuehne and two co-defendants maintain the "unprecedented" money laundering indictment is ideologically motivated by the Justice Department. At issue is a carve-out from federal anti-money laundering statutes that exempts attorneys from criminal liability in accepting defense fees. The DOJ "has been hostile to this exemption for many years and appears not to accept the policies that underlie it," Kuehne's attorneys said. "However, it is Congress that makes the laws."

Starr Power Added for Nonprofits Case

Legal Times

VSP Vision Care has added former Solicitor General and Judge Kenneth Starr to its legal team as it brings a closely watched case on nonprofit status to the Supreme Court. VSP, which offers eye-care insurance as an employee benefit, was classified as a nonprofit until the IRS revoked that status in 2003. Many other similar companies, such as hospitals and health care organizations, are also classified as nonprofits, and are anxiously awaiting the outcome of VSP's appeal.

Lawyer Faces Reprimand for Not Telling Clients He Botched Two Appeals

New Jersey Law Journal

A New Jersey lawyer deserves a reprimand for failing to file briefs on time, thereby causing appeals to be dismissed, and then not notifying the clients, the state Supreme Court's Disciplinary Review Board says. Lawyers who fumble on client communication typically draw an admonition, but Clifford Van Syoc has a history. In 2003, he was admonished for a similar offense. Moreover, one of the brief-filing failures that led to the present discipline case occurred in 2002, while the earlier case was pending.

Philadelphia Stock Exchange Settlement Faces One More Bump in Contentious Road

The Legal Intelligencer

Just when attorneys for class members suing the Philadelphia Stock Exchange thought their hard-fought battle was over after a Delaware judge approved their allocation plan for the $99 million settlement, objector class members have appealed once again. Their action marks the latest round in a dispute about which the judge said at one point: "Never in 22 years have I seen counsel going at it, hammer and tong, like they have gone at it in this case."

Solid Growth for Allen & Overy and Linklaters

The American Lawyer

Slowly but surely the final rankings for this year's Global 100 have taken shape. Two of the last major U.K. practices to announce their numbers, Allen & Overy and Linklaters, announced solid growth in revenues and profits per partner in early July. While the news from Linklaters wasn't as dramatic as it was last year, when PPP shot past the $2 million mark, this year revenues reached 1.29 billion pounds. Allen & Overy chalked up more than 1 billion pounds in gross for the first time.

3rd Circuit Upholds Removal of Christian Protesters at Gay Pride Event

The Legal Intelligencer

In a closely watched First Amendment case stemming from a clash between a group of Christian protesters and the attendees of a gay pride event, the 3rd Circuit has ruled that Philadelphia police acted properly in removing the protesters because they were disrupting the event with bullhorns and disobeying police orders to move. The circuit upheld a district court ruling that, ironically, relied on a U.S. Supreme Court decision holding that a gay group had no right to join in a St. Patrick's Day parade.

N.Y. Assembly Speaker Held Not Liable for Sex Case Settlement Involving Former Chief Counsel

New York Law Journal

New York Assembly Speaker Sheldon Silver cannot be held personally liable for a $500,000 settlement the state reached with an Assembly staffer involved in a sexual encounter with Silver's former chief counsel, J. Michael Boxley, a judge has ruled. Though Boxley's conduct was "distasteful and repulsive, and involved lewd and indecent acts," the justice wrote that then-AG Eliot Spitzer decided to settle "this tawdry matter ... in what he deemed, in his wisdom, to be in the best interests of the State."

Challenge to Calif. Gay Unions Measure Fails

The Recorder

The California Supreme Court has refused to review a challenge to the validity of Proposition 8, a November ballot initiative that would limit marriage to heterosexual couples. The high court's unanimous decision didn't surprise at least two legal experts, though both thought the arguments raised by civil rights groups had merit. The court tampers with ballot initiatives in advance of elections on "very rare occasions," said one expert, "and usually on the basis of a violation of the single-subject rule."

Business Development and the New Library

The National Law Journal

Due to the explosion of information sources, librarians cannot be pushed to the side in developing law firm business. Tech-savvy librarians are the key to gleaning information that allows attorneys to present their best face when they step in front of a potential client to make a pitch.

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Using Incentive Plans to Protect Overseas Business Interests

Special to Law.com

Stock incentive and bonus plans provide effective mechanisms for improving retention of key talent, and for protecting business interests. Unfortunately, however, international companies are discovering that these tried-and-tested mechanisms can unravel quickly when applied across borders. Attorney Christopher Walter discusses two recent cases that illustrate how U.S. incentive plans can collide with mandatory European Union legal protections, resulting in significant enforcement problems for employers.

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What Your Office Decor Tells About You

Fulton County Daily Report

Humor columnist The Snark says he can tell a lot about a new associate by the way he or she decorates their office. For example, an office that gets decorated during the first week of employment screams, "I am so excited to finally be here! Of the 50 associates starting with me, I will be one of the five who makes it past the fifth year!" While associates who never bother with such frivolity are sending a clear message: "Who are we kidding? As soon as I finish my novel, I am done with this gig."

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