The rise and fall of Melvyn Weiss is one of the most dramatic stories within the legal profession. The Bronx-born Weiss, a graduate of NYU Law School, founded Milberg Weiss, which went on to become the nation’s top class-action securities firm. Weiss and his partners became millionaires many times over.
But it turned out that the firm rested on shaky ground. In 2008, Mel Weiss pleaded guilty to participating in a kickback scheme that helped him get clients and cases. Weiss got sentenced to two and a half years in federal prison and had to pay more than $10 million in forfeitures and fines. Milberg Weiss itself had to pay $75 million to settle charges relating to the racketeering conspiracy.
Too bad Weiss had to do prison time. House arrest would have been pretty sweet in his waterfront mansion on Long Island’s Gold Coast, now on the market for $18.8 million….
Now that the July 2014 administration of the bar exam is in the books, everyone can commiserate over the mental anguish they went through while cramming hundreds upon hundreds of pages of otherwise useless legal knowledge into their brains.
When it came to the bar exam, you weren’t studying. As it turns out, you were stuDYING. Given how tedious the entire process was, it must’ve sometimes been difficult to stay sane.
This girl found a way to keep herself from losing her mind — barely — and we’re going to show you how…
All too often we seem to see people making copyright claims over public domain works. It’s especially egregious when we see museums do this kind of thing, as happens every so often.
While museums in some other countries like to try to claim that they can create a new copyright on the digital scan of a public domain image, in the U.S. it is generally considered settled law that museums cannot create such a new copyright. Public domain is the public domain….
At 1:24 a.m. on March 18, 1990, as St. Patrick’s Day festivities wound down in Boston, two men dressed as police officers rang the buzzer at the Isabella Stewart Gardner Museum in Boston’s Fenway neighborhood. Eighty-one minutes later, they vanished, taking eleven paintings and two artifacts with them. None of the stolen works — worth at least $500 million today — has ever been recovered. This week, On Remand looks back at the Gardner heist and another set of stolen paintings that found their way back the rightful owner — landing an attorney in prison in the process….
* Who doesn’t love fee voyeurism? It pays to be a winner in an antitrust case. How many millions did Robins Kaplan just rake in? Just part of the largest attorney fee award ever handed out in a private antitrust case, no biggie. [Am Law Daily]
* In this glass half-full world, about half of state Attorneys General are in favor of gay marriage — but some of them would go ahead and defend their state’s laws anyway. Boo. [WSJ Law Blog]
* It might be “pretty basic,” but Chris Christie received a document subpoena over the Bridgegate scandal. Not for nothing, but we hear that the governor was in the middle of bringing about world peace when he got the news. [Bloomberg]
* Hofstra Law is the latest school to launch its own “law school law firm” in an effort find jobs for its graduates close the justice gap. Welcome aboard the bandwagon, enjoy your stay! [Hofstra Law News]
* Hunter Moore, the king of online revenge porn, was indicted on 15 federal charges by a grand jury. “We’re superpleased that the FBI have brought this to fruition,” says a victim’s mother. So is everyone else. [TIME]
* “I have this much respect for the American judicial system.” George Zimmerman has a new painting for sale, and this time he’s ripping the Special Prosecutor who charged him with second-degree murder. [CNN]
* “No one calls me Justice Sotomayor and no one calls Justice Kagan Justice Ginsberg. It’s an exhilarating change.” Back in the day, people used to mistake the Notorious RBG for Justice Sandra Day O’Connor. How rude. [WSJ Law Blog (sub. req.)]
* Eversheds, the national U.K. law firm that sounds like it’s an outdoor storage emporium, has elected a new chairman. Congrats to Paul Smith, who specializes in environmental law, and will begin his four-year term on May 1. [Am Law Daily]
* In his last year of service, California Treasurer Bill Lockyer will moonlight in Brown Rudnick’s Irvine office. Critics think this move “looks and smells bad.” If it’s brown, flush it down? [Bloomberg]
* Down 11 percent from last year, this fall, law schools enrolled the fewest amount of students since 1975, when there were only 163 ABA-accredited schools. Too bad tuition’s still so high. [National Law Journal]
* George Zimmerman is an artiste extraordinaire, and one of his paintings is currently for sale on eBay where the price has been bid up to $110,100. The guy’s almost as talented as George W. Bush. [CNN]
The Warhol maxim about media celebrity has worked its way into litigation with a pair of high-profile legal disputes over the late artist’s work. Fittingly for Warhol-related news, the cases both glitter with celebrity and elevate the most mundane items to the altar of contention.
In one case, world-famous pop culture icons are pitted in a case involving sex, betrayal, higher education, and art appraisal. In the other, parties duke it out over a frigging box. An ordinary, cardboard box. They say it’s worth $250,000 because… why not?
Warhol once said, “making money is art and working is art and good business is the best art,” and he’s now nodding approvingly as millionaires are running to courthouses to fight over pictures he drew half a century ago…
* Judge Victor Marrero orders MF Global to pay over $1 billion to customers. Serves those MFs right. [CNBC]
* The Second Circuit has punted on the question of whether defunct firms in New York have an ownership right to fees earned by former partners who took work to new firms. [Am Law Daily]
* Howard Morris, the former co-chief executive of SNR Denton, is joining MoFo as the head of the bankruptcy and restructuring group in London. [DealBook / New York Times]
* NBC has a new show about a criminal court judge who is a hard-living, sexually unapologetic woman. So basically a documentary about Justice O’Connor’s early years. [Deadline]
* So Detroit might be the worst place to work. Even with that caveat, it’s hard to believe this ad seeking someone to do, “whatever other crazy type stuff this (bastard) lawyer of ours thinks up.” A screenshot is provided after the jump in case the ad comes down…. [Craigslist]
* The four female Supremes gathered last night (and kept RBG up past her bedtime) to celebrate the unveiling of a lifelike painting of themselves that’ll be on display for years. You go girls! [Reliable Source / Washington Post]
* Now that cloture’s been filed on a would-be D.C. Circuit judge, these judicial nominations are getting exciting. You should probably get ready for a battle royal on Patricia Millett’s qualifications later this week. [Blog of Legal Times]
* The women over at Holland & Knight must be pregnant with glee now that the firm is offering incredibly attractive paid maternity and adoption leave packages in the hope of retaining its lady lawyers. [Daily Business Review]
* Aww, Barry Bonds wants the Ninth Circuit to rehear his obstruction of justice conviction with 11 judges instead of three. Perhaps he thinks that more judges will equal more sympathy. [San Jose Mercury News]
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: