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.
We’re having one of those days — computer problems, email troubles, etc. We never should have returned from vacation.
It’s a bad time for us to be so distracted, because there’s breaking news in the Aaron Charney and Sullivan & Cromwell litigation — twodecisions from Justice Bernard Fried. A tipster sums them up:
FYI – Two written decisions were posted to the NY State Supreme Court Reporter website today. One is Charney v. S&C; the other is S&C v. Charney.
The first dismisses Charney’s suit, but with leave to replead. The second grants S&C a preliminary injunction, dismisses the first cause of action by S&C against Charney (breach of fiduciary duty), and directs Charney to answer the remaining causes of action.
False arrests: they’re not just an American phenomenon. From ABC News (via Drudge, of course):
An Afghan tribesman with an uncanny resemblance to Osama bin Laden has now been arrested twice, both times following reported sightings and massive manhunts for the al Qaeda leader, Pakistani intelligence officials tell ABC News.
Over six feet tall and with the same angular nose as bin Laden, Sher Akbar comes from an Afghan village, Bagh e Metal, in an area where U.S. officials believe bin Laden has been hiding.
Best part of the article:
[A Pakistani intelligence] official said an extensive investigation involving Pakistani and U.S. intelligence officers found that the look-alike has no connection to bin Laden, but that local residents had tried to collect rewards based on Akhbar’s resemblance to bin Laden.
Back in August, we named Judge Deborah Tyner our ATL Judge of the Day. The Honorable Debbie ditched her judicial duties to go shopping, which struck us as absolutely fabulous.
Now Judge Tyner has a kindred spirit. Meet Cynthia Garris, a Virginia defense lawyer. From the Virginian Pilot:
A local lawyer has been disciplined by the Virginia State Bar for telling a judge she had to postpone a case because of a commitment in another court when in fact she went shopping instead.
Defense attorney Cynthia D. Garris received a public reprimand from the State Bar, according to an announcement Friday. The reprimand does not affect her law license.
Garris, whose office is at 132 W. Olney Road, told a Norfolk Circuit Court judge last summer that she had to postpone a case because of a court commitment in Williamsburg.
The judge later found out she had gone on a shopping excursion instead. The judge found Garris in contempt and fined her $250.
Here’s a first — A U.S. Supreme Court decision issued today has its own accompanying video: Talk about multimedia rulings! The Court’s opinion today in Scott v. Harris, No. 05-1631 — a dispute about the lawfulness of a high-speed police chase captured on video — appears online at the Supreme Court’s web site with this 91.7 MB RealPlayer video file. No word yet from the Court on whether the volume of U.S. Reports in which this decision will appear will include its own embedded video player.
The dueling opinions — Justice Scalia’s majority opinion, and Justice Stevens’s dissent — discuss the video extensively.
Some brief discussion, of the video and of the opinions, after the jump.
Let the wailing and gnashing of teeth begin. The AmLaw 100 rankings — The American Lawyer’s closely watched, annual listing of the hundred largest law firms in the United States, ranked by revenue — are now available.
We’ll have more to say on the rankings later. Their release is a big story, deserving of multiple posts. They’re like the U.S. News and World Report law school rankings, but for the world of Biglaw, and they can be viewed from many different angles. Although the firms are ranked by revenue, the rankings are accompanied by other juicy data — including information about profits per partner.
For the time being, here’s the “money quote,” quite literally, from the WSJ Law Blog:
Wiley Rein broke the record for the highest profits per partner ever recorded by the magazine — $4.4 million. Why? The Washington, D.C., law firm represented patent-holding company NTP in its nearly five-year legal battle with RIM, and earned more than $200 million in fees from the case. It received approximately one-third of the $612.5 million settlement that RIM agreed to pay NTP to avert a potential court-ordered BlackBerry shutdown. The firm also shortened its name from Wiley Rein & Fielding after Fred Fielding left the firm to become White House counsel.
So New York’s Wachtell Lipton, which has sat atop the profits-per-partner rankings for many years, has been displaced. Interestingly enough, though, Wiley Rein didn’t beat Wachtell by THAT much, considering the massive contingency fee it received from the RIM-BlackBerry settlement. Wiley Rein had PPP of $4,435,000; Wachtell Lipton had PPP of $3,975,000.
(And if you look at the chart for Compensation — All Partners (subscription), WLRK still comes out on top, with $3.975 million per partner. Wiley Rein has a two-tier partnership, so its Compensation Per Partner figure, which reflects compensation paid to non-equity as well as equity partners, is only — only! — $2.7 million.)
The Wiley Rein windfall reminds of when Robins Kaplan got that huge, one-time payout for its tobacco-related work. In the AmLaw 100 rankings for 2000, based on 1999 revenue and profit figures, the Minneapolis-based firm boasted profits per partner of over $3 million — beating Cravath and all the other New York shops that year, except for Wachtell.
Do you have any juicy, AmLaw 100-related gossip? Tales of shameless attempts to manipulate the rankings? Stories about unhappy partners ranting over their firm’s placement over this morning’s coffee? Please send ‘em our way.
A table and links, after the jump.
This morning brings ive new rulings from the Supreme Court. Check out SCOTUSblog for the details.
There are some important ones among the bunch, including a decision in KSR v. Teleflex, a big-ticket IP case. But with one exception, the cases weren’t close. Two were decided by a unanimous Court, and two were almost unanimous (with one dissenter apiece).
The case that split the Court the most was the scintillatingly-captioned United Haulers Association v. Oneida-Herkimer Solid Waste Management. Here’s Lyle Denniston’s squib:
[T]he Court divided 6-3 in deciding that a local government does not violate the Constitution when it requries all solid waste generated in the community to be processed at a publicly owned facility, so long as the ordinance treats private businesses the same whether they are local or out-of-state.
Here’s an interesting rumor that’s making the rounds:
I have heard through the grapevine that some large law firm(s) [possibly Hogan Hartson] in Washington are desparately in need of corporate associates — from junior associates on up. Apparently the idea is to offer around $30,000 as a bonus to lateral. This shows the real need for corporate lawyers in the capital, especially since the latest wave of raises makes DC associates $15,000 poorer than their New York-based colleagues (or DC-based associates who work for New York-based firms). Lots of work in the corporate departments right now.
Poor Alberto Gonzales. Even Romy and Michele had a better time at their reunion. From the AP:
A small group of student protesters, including one wearing a black hood and an orange jumpsuit, heckled Attorney General Alberto Gonzales as he posed with old classmates Saturday during their 25-year Harvard Law School reunion.
“When the photographer was getting everybody set up and having people say ‘cheese,’ the protesters yelled: ‘say torture, instead,”resign’ and ‘I don’t recall,'” said Nate Ela, a protester and third-year student.
Law school spokesman Mike Armini said the impromptu protest was so small that some of those attending the photo shoot did not notice it.
We hate to quibble, but saying “torture” doesn’t make you smile. Your lips end up in a peculiar, puckered position (try it yourself). C’mon, HLSers — couldn’t you have come up with something more clever? Students Heckle Gonzales at Harvard [Associated Press]
Did you miss us? We hope so. But we also know, from reader emails and comments, that you greatly enjoyed the efforts of Laurie Lin and Billy Merck, who held down the fort in our absence. We thank them for their fantastic work.
We’re still in the process of catching up on legal news, blog reading, and email. It’s a Monday morning, so we need all the help we can get. If you have any suggested blog fodder, please send it to us by email. Thanks!
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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: