* Dewey think you should’ve signed up for the partnership contribution plan? That probably would’ve been wise. One of Dewey & LeBoeuf’s ex-service partners has been forced into Chapter 7 bankruptcy thanks to a clawback suit. [Am Law Daily]
* As long as the job market for new attorneys remains laughable, law schools will continue to make moves when it comes to deep tuition cuts. Say hello to a $30K drop in sticker price, Roger Williams University Law students. [WSJ Law Blog (sub. req.)]
* Syracuse Law’s class sizes keep getting smaller, but it was “strategically managed” — just like the new law building was financially strategically managed on the backs of alumni and their tuition. [Daily Orange]
* A trial date was set for Dzhokhar Tsarnaev’s friends who allegedly tried to cover up his role in the Boston bombings. No word yet on whether any stupid girls have set up fan clubs for them. [National Law Journal]
* The curtains are finally closing on the King of Pop’s life: Lloyd’s of London settled its insurance suit with Michael Jackson’s estate, and Conrad Murray’s involuntary manslaughter conviction was upheld. [AP]
* Elizabeth Coker has announced she is seeking the office of Polk County Criminal District Attorney. While some may disagree, I think this is a great idea. She’s been directing the litigation strategies of prosecutors for some time now. So why does a judge drummed out of office for texting prosecutors think she should go back into public service? Prayer. Of course. [Polk County Today]
* Judge Steven Rhodes is overseeing the Detroit bankruptcy. He’s not taking any guff off anyone, including an investment banker who pledged that it was “very important” that his firm help the city, prompting Judge Rhodes to point out, “What’s very important to you is to make money.” He’s also a badass rhythm guitarist. [Associated Press via Yahoo!]
* A Colorado judge has declared that a discriminating baker can no longer prevent gay couples from buying wedding cakes. It’s unclear if he’s ordering the baker to stock those stupid plastic cake toppers in groom & groom format. [Consumerist]
* George Zimmerman’s girlfriend wants him out of jail. She originally told police that Zimmerman pointed a shotgun in her face. That’s Princess Bride-level true love s**t right there. [Slate]
* Michigan State celebrated putting Ohio State in its place by setting “at least 57 fires.” Can someone holding a sign encouraging people to “Burn the Couch” be held liable? A better question is whether West Virginia can sue Michigan State for stealing their hillbilly intellectual property? [PrawfsBlawg]
* Sadly, Akerman partner Richard Sharpstein was found dead in his home today. He was 63. [Daily Business Review]
* A few tipsters sent this one in. They claim it’s a law student acting like a jerk trying to buy cigarettes in a drug store. The sound is spotty, so none of us could figure out exactly what was going on, but it’s worth it for the guy who yells: “Yeah, tell him! Tell him when you were born!” Video after the jump….
* After its patent battle in the courts, Apple wants Samsung to pay for a portion of MoFo’s legal fees. When you think of it, $15.7 million is a rather piddling amount when full freight is $60 million. [The Recorder]
* Say goodbye to your pensions! As it turns out, law review articles aren’t so useless after all. Detroit’s foray into Chapter 9 eligibility is the brainchild of a Jones Day partner and associate duo. [Am Law Daily]
* It must be really stressful to plan a wedding when your defamation victory is on appeal to the Sixth Circuit. The latest chapter in the Sarah Jones v. TheDirty.com case could mean curtains for online speech. [AP]
* When it comes to their credit ratings, stand-alone law schools are getting screwed due to their inability to put asses in their empty seats. Four out of five schools profiled could be in big trouble. Which ones? [WSJ Law Blog (sub. req.)]
* “You need to not dress like that.” TMZ’s attorney, Jason Beckerman, is an alumnus of Kirkland & Ellis, and he was quickly advised by a producer that he needed to lose his lawyer duds. [California Lawyer]
This coming Friday, it is the inalienable right of all Americans to sleep off their hangovers, or riot at Walmart, or do anything at all rather than work for The Man. But Biglaw is a different country. As illustrated by Elie’s decision matrix, the “choice” of whether to work on this sacred day is, for the denizens of the law firm world, fraught with other pressures and expectations. We all know that Biglaw careers demand a Faustian bargain: in return for their fat paychecks (and bonuses?), lawyers are expected to work grueling, unpredictable hours. This time of year, that reality is brought into sharp relief: the “holiday season,” with those “family obligations” and so forth, is something that occurs elsewhere.
But law firm billable expectations are not homogeneous. There are significant differences across practice areas, seniority levels, and, of course, individual firms. So how do the various practices, employment statuses, and firms stack up?
* Justice Sonia Sotomayor thinks that the lack of diversity on the federal and state judiciaries poses a “huge danger,” one that might even be greater than her complete inability to dance. [Blog of Legal Times]
* Because “love [shouldn't be] relegated to a second-class status for any citizen in our country,” Illinois is now the 16th state in the U.S. to have legalized same-sex marriage. Congratulations and welcome! [CNN]
* “His discrimination claim was not about discrimination.” After only 2.5 hours deliberating, the jury reached a verdict in John Ray III v. Ropes & Gray, and the Biglaw firm came out on top. [National Law Journal]
* One thing’s for sure: big city bankruptcies ain’t cheap. Detroit has paid about $11 million to Jones Day, emergency manager Kevyn Orr’s former firm, since this whole process kicked off. [Detroit Free Press]
* Baylor Law is being overrun by a colony of feral cats. Someone please tell the administration these kitties can’t be used as therapy animals before finals — students will have their faces clawed off. [Baylor Lariat]
The Dewey nightmare continues for non-settling partners.
Many former partners of now-defunct Dewey & LeBoeuf signed up to join the “Partner Contribution Plan” that was hatched during the law firm’s bankruptcy case. The gist of the Plan: pay a certain sum (which varied from partner to partner) into the pot, and win a release from any future Dewey-related liability.
The main appeal of the Plan was finality, a way of putting the entire Dewey debacle in the rearview mirror. And that appeal was strong: more than 400 ex-partners agreed to the Plan, which freed them up to focus on their post-Dewey lives at new firms.
But a minority of former partners refused to sign on. A lawsuit filed last week against one ex-partner reveals what lies in store for them….
* President Obama won’t “just sit idly by” as his D.C. Circuit nominees are picked off one by one by Senate Republicans. No, instead he’s going to have his White House Counsel give interviews for him. [National Law Journal]
* Today is the 150th anniversary President Abraham Lincoln’s Gettysburg Address. If you’d like, you can watch a live stream of an event celebrating the occasion here at 12 p.m. EST today. [Constitution Accountability Center]
* The Second Circuit slapped down a few requests yesterday, the most notable of which being Argentina’s bid for a full rehearing and Raj Rajaratnam’s plea for a review of his conviction. [Bloomberg; Bloomberg]
* You don’t know what you got till it’s gone: Weil Gotshal is welcoming back a former finance partner after a seven-year stint at Norton Rose Fulbright to fill out its emptied Dallas office. [Law 360 (sub. req.)]
* Dewey know when the axe man commeth for those who refused to join the failed firm’s $70 million partner contribution plan? Right now. Will Marcoux is the first to face off against Alan Jacobs. [Am Law Daily]
* 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]
Professional responsibility dictates that lawyers conduct themselves with civility. Litigating can raise tempers and when stress and irritation intersect with childish lawyers, the whole “civility” thing doesn’t always work out.
When it doesn’t work out in spectacular fashion, we get public filings replete with frenetic ALL CAPS and schoolyard name-calling. And when it really blows up someone forgets about the “Reply to All” button and all hell really breaks loose.
* Let’s get ready to rumble! Senate Democrats are threatening to go “nuclear” on existing filibuster rules if Senate Republicans decide to band together to block Patricia Millett’s nomination to the D.C. Circuit. [New York Times]
* AMR Corp. and US Airways are reportedly trying to broker a deal with the Department of Justice that would allow the airlines’ merger to go through. And this is the room full of people who care. [Wall Street Journal (sub. req.)]
* Proskauer Rose and the zombie corpse of Dewey & LeBoeuf received a Halloween treat from Judge Martin Glenn in the MF Global case. The firms will each be receiving a combined $9 million for their work. [Am Law Daily]
* Twitter is facing a $125 million fraud suit filed by two financial firms claiming that the social media giant had them organize a private sale of shares and then canceled it. #OhShiat #LawyerUp [Businessweek]
* She’s got the right to remain topless: Holly Van Voast, the photographer famous for roaming the streets of New York with breasts bared, settled a lawsuit against the city for $40,000. [New York Daily 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: