David Lat is the founder and managing editor of Above the Law. His writing has also appeared in the New York Times, the Wall Street Journal, the Washington Post, New York magazine, Washingtonian magazine, and the New York Observer. Prior to ATL, he launched Underneath Their Robes, a blog about federal judges. Before entering the journalism world, he worked as a federal prosecutor in Newark, New Jersey; a litigation associate at Wachtell, Lipton, Rosen & Katz, in New York; and a law clerk to Judge Diarmuid F. O'Scannlain, of the U.S. Court of Appeals for the Ninth Circuit. David graduated from Harvard College and Yale Law School, where he served as an editor of the Yale Law Journal. He has received several awards for his work on ATL, including recognition as one of the American Lawyer’s Top 50 Big Law Innovators of the Last 50 Years; one of the ABA Journal’s Legal Rebels, a group of pioneers within the legal profession; and one of the Fastcase 50, "the fifty most interesting, provocative, and courageous leaders in the world of law, scholarship, and legal technology." His first book, Supreme Ambitions: A Novel, will be published in 2015. You can connect with David on Twitter and Facebook.
Today seems to be White & Case day here at ATL. This morning we wrote about Emily Pataki, a supervised legal intern an associate at White & Case, acing the New York bar exam. And now we have some W&C news on the clerkship bonus front.
In an earlier comment thread, there was debate over the size of White & Case’s clerkship bonus. Was it $15,000? Or $35,000?
That debate is now moot. We just received word from official sources at the firm:
White & Case — Judicial Clerkship Bonuses Update
DC, Los Angeles, Palo Alto and New York at $50,000
Miami at $35,000
For Biglaw-bound law clerks, this is very good news. As various commenters noted here, White & Case falls just outside the Vault Top 20 (and below most other members of the $50K Club on that list). But now that White & Case has raised, we expect many more firms — and pretty much everyone in the top 20 — to step up to the plate.
Three cheers for White & Case!
We’ve been doing a lot of Biglaw coverage lately. But since Attorney General Alberto Gonzales is being raked over the coals as we type, in an appearance before the House Judiciary Committee, let’s take a timely detour into the U.S. Department of Justice.
The DOJ isn’t looking terribly competent right now. And this latest story won’t burnish their reputation. From a tipster:
As you know, the Justice Department produced a number of documents to Congress, concerning the controversial U.S. Attorney firings. These document productions have not been huge — maybe just a few thousand pages. Nothing like what you see in major commercial litigation.
One such document production showed up on Capitol Hill, in four sets: two sets for the Senate Judiciary Committee (Democrats and Republicans), and two sets for the House Judiciary Committee (Democrats and Republicans). The production arrived on a weekday evening.
A Republican staffer immediately started looking through the production. The staffer noticed that the produced documents didn’t have Bates stamps on them. Oops. Guess the DOJ forgot to have them stamped — a screw-up, although not a cardinal sin.
A few pages later, the staffer noticed something else, on a document with redactions on it. There was redacting tape that was STILL ON THE DOCUMENT. One could access the redacted, privileged material simply by peeling off the tape.
Holy crap. Instead of sending over Bates-stamped photocopies, the DOJ had produced its ORIGINAL DOCUMENTS to the Congress.
Nice. Apparently the Justice Department is less competent than a second-year litigation associate: they can’t do a proper document production.
It gets worse. More after the jump.
In yesterday’s post about Cravath, Swaine & Moore starting up a bankruptcy department, to be launched by lateral hire Richard Levin (from Skadden), we wrote:
Cravath isn’t big on lateral hiring. When they hired tax lawyer Andrew Needham away from Willkie Farr & Gallagher in 2005, he was their first lateral partner in more than six decades (per Wikipedia).
Nor has Cravath been into bankruptcy work. Even though many other white-shoe firms have entered that historically “icky” practice area, CSM has stayed on the sidelines.
The statement that Cravath has avoided bankruptcy work was in error. From a knowledgeable tipster:
I want to correct your assertion that Cravath has traditionally stayed away from bankruptcy. Cravath historically has been very involved with bankruptcy and insolvency — Paul Cravath himself was the leading railroad insolvency lawyer of his generation, helping JPMorgan and the like swindle railroad bondholders out of billions.
For the bankruptcy geeks among you, our source schools us further, after the jump.
“In an effort to uphold the rule that the Masters of the Universe can pretty much get away with anything simply because they’re the Masters of the Universe (see, also: Jobs, backdating), a federal judge has ruled that Goldman cannot be included in a lawsuit by Fannie Mae shareholders.”
“[T]he SEC filed a lawsuit against a Hong Kong couple, Kan King Wong and Charlotte Ka On Wong Leung, accusing them of insider trading. The couple had purchased $15 million of Dow Jones shares prior to the May 1st announcement.”
They liquidated the position after News Corp.’s unsolicited offer to boy Dow Jones, for a tidy profit of $8.2 million. More details here.
3. In the Future of a Defamation Lawsuit, Dimon Is the Law. Here’s a teaser, concerning the lawsuits that are flying between Dow Chemical and a former executive and board member: “It’s the legal equivalent of a John Woo action scene.”
You can check out the full post here.
Don’t get that jail cell ready for Paris Hilton just yet. Hilton’s defense team has launched a last-ditch effort to keep her out of jail after a Los Angeles traffic court judge made international headlines by sentencing the socialite to 45 days in county jail for repeatedly driving while her license was suspended.
Her attorneys have filed a notice of appeal at the courthouse. Though the document does not lay out the grounds for the appeal, her attorney, Howard L. Weitzman, has said the sentence was far too harsh given Hilton’s misdeeds.
We used to specialize in criminal appeals. But you need neither experience nor expertise to conclude that this argument is a legal loser. Here’s a good quip from a prof at Loyola Law:
“I don’t think the Founding Fathers had Paris Hilton’s driving conviction in mind when they enacted the cruel and unusual punishment provision of the Constitution,” said Loyola Law School professor Laurie Levenson.
But don’t count Paris out just yet. More discussion, after the jump.
Some of you have asked us for a new thread to discuss clerkship bonuses. Your wish is granted.*
We’ll kick off this clerkship bonus discussion with some good news. It concerns Sullivan & Cromwell, which first got the ball rolling on clerkship bonuses, by raising to $50K in the wake of the Brokeback Lawfirm scandal.
(Law clerks, you owe Aaron Charney a debt of gratitude. If he sets up an Aaron Charney Legal Defense Fund, you should contribute generously.)
Anyway, here’s the news:
I just got a call from the recruiting coordinator at S&C confirming they are now paying 70K for those with two years of clerkship experience.
Please keep up the excellent work on this front, I desperately want Cleary to match!
A partial summary of where things currently stand in the clerkship bonus market, after the jump.
* We receive many requests to cover X or Y when salary matters are in full swing. We try to accommodate the ones that we can, but obviously there are many that we can’t. Sorry, we are not going to start a “List of Shame” for ERISA boutiques in Topeka that don’t pay $80,000.
The litigation boutique of Susman Godfrey is prestigious. And it is well-paying, especially around bonus time.
It’s also not shy about honking its own horn (which shouldn’t be surprising, given its Texas roots). In fact, Susman Godfrey just issued a press release about its pay raises that might make Gallion & Spielvogel blush.
Here are some excerpts (emphases added):
TOP LITIGATION BOUTIQUE SUSMAN GODFREY RAISES ASSOCIATES SALARIES IN LOS ANGELES & NEW YORK OFFICE
Susman Godfrey announced today a salary increase for their associates in Los Angeles and New York. The compensation package for first year associates joining their Los Angeles and New York offices is $160,000, plus benefits. Already among the best paid associates nation-wide, the compensation package for first year associates in their Houston, Dallas, and Seattle offices is $140,000, plus benefits….
Susman Godfrey also pays year end merit bonuses to associates who have been with the firm for at least one year. Last year, associate bonuses topped out at $120,000. In 2005, some associates received a walloping $150,000 in year-end perks. More commonly, our merit bonuses have accounted for 20% to 60% of an associate’s annual compensation and are far in excess of bonuses paid by our competitors. Thus, associates’ year-end merit bonuses tend to range from an additional $30,000 to $80,000 on top of the base salary.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
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