* Dewey was quick about getting its Chapter 11 plan confirmed, but all of these unfinished business claims are taking a little longer to resolve than previously hoped. But hey, at least Paul Hastings settled. [Am Law Daily]
* Because sometimes profit sharing isn’t enough: Theodore Freedman, a former Kirkland & Ellis partner, pleaded guilty to tax fraud after underreporting his partnership income by more than $2M. [New York Law Journal]
* Imagine a land filled with millions of little Honey Boo Boos. That’s what the great state of Arkansas is going to look like if the legislature passes the most restrictive abortion law in the country. [WSJ Law Blog (sub. req.)]
* Not only do the Mavericks suck, but Mark Cuban’s luck in court does, too. His bid to toss an insider trading case was denied. He’d probably jump over the bench and have a fit if he could. [DealBook / New York Times]
* Dawn Clark Netsch, beloved Illinois pol and one of the nation’s first female law profs, RIP. [Chicago Tribune]
This morning I attended the confirmation hearing for the Chapter 11 bankruptcy plan of Dewey & LeBoeuf. As I mentioned on Twitter a few minutes after leaving the hearing, Judge Martin Glenn confirmed the plan.
Under the plan, secured creditors will recover between 47 to 77 cents on the dollar, while unsecured creditors will wind up with 5 to 14 cents on the dollar. Secured creditors hold about $262 million in claims; total creditor claims, secured and unsecured, amount to about $550 million.
So that’s the bottom line. But what was the hearing itself like? Here are my observations, including a few photos — because bankruptcy court coverage is totally WWOP….
* Even though Obama wants to “make sure that [he's] not interjecting [himself] too much into this process,” the DOJ may still suggest that the Supreme Court overturn Proposition 8, California’s ban on gay marriage. [Associated Press]
* Anheuser-Busch InBev and the Department of Justice are cracking open a couple of cold ones to settle their differences over antitrust concerns with regard to the company’s planned purchase of Grupo Modelo. [DealBook / New York Times]
* It looks like Steve DiCarmine is being forced to take a break from his rigorous class schedule at Parsons to testify at a Dewey bankruptcy hearing next week. He’ll be happy to hear orange is in this spring. [Am Law Daily]
* Represented by Steptoe & Johnson, Jesse Jackson Jr. pleaded guilty to misusing $750,000 of his campaign funds for personal use. Most interesting purchase: Michael Jackson memorabilia. [Blog of Legal Times]
* When it comes to recruiting new talent, the ability to maintain a “collegial culture” is apparently a selling point for midsize law firms. And here we thought douchebaggery was the way to go. Sigh. [National Law Journal]
* Protip: do not flash your prosecutor’s badge to bypass cover charges and lap dance surcharges at the local strip club. You’re going to get fired. We’ll probably have more on this later. [Riptide 2.0 / Miami New Times]
* Don’t worry ladies, if you’re about to be raped, just pee or puke all over your attacker — or better yet, tell him that you’re on your period. Yeah, that’ll work. These tips are almost as good as “don’t dress like a slut.” [CNN]
* “[T]his is a ridiculous sideshow that’s horribly unbecoming to the parties involved.” The NCAA is now suing over a new Pennsylvania law designed to keep PSU’s Sandusky fines in the state. [San Francisco Chronicle]
‘They stole [accreditation] from us. Sneaky little ABA. Wicked, tricksy, false!’ — FAMU Law
Ed. note: Due to the Presidents’ Day holiday, we will be on a reduced publication schedule today. We will be back in full swing tomorrow. We hope you enjoy your day off (or feel free to lament your lack thereof in the comments).
* “[T]hey don’t want to hear nothing.” Vedel Browne, the man accused of robbing Stephen Breyer at machete-point while the justice was vacationing in his home in the Caribbean, now claims that he’s innocent, mon. [St. Kitts-Nevis Observer]
* You know what, the farmer in the Super Bowl commercial probably didn’t have to deal with bullsh*t like Monsanto’s seed patents, but today’s farmers do, and they’ll argue their case before the Supreme Court this week. [New York Times]
* “I’m a betting man. And I would bet and give odds that Sullivan & Cromwell has never said that publicly.” Who dares question S&C’s stance in the hot mess that is Herbalife? None other than Carl Icahn. [Am Law Daily]
* Here’s an important Biglaw math lesson that’s been provided to us via California-based firms like Irell & Manella, Munger Tolles, and Orrick: a little revenue minus a lot of partners equals profitability. [Recorder]
* Amid a flurry of filings on Valentine’s Day, love must’ve been a battlefield for the embattled Dewey & LeBoeuf refugees who were in desperate search of their once promised 2011 bonuses. [WSJ Law Blog (sub. req.)]
* From the department of things that suck: having to defend your office’s alleged “underhanded tactics” in a $150 million wrongful conviction case while you’re trying to get re-elected as district attorney. [New York Times]
* We got bitches in the office lawyerin’ on, and they ain’t leavin’ till six in the mornin’ — unless they want to be fired. An ex-Travers Smith trainee claims she was canned for leaving the firm “early”… at 6:30 a.m. [Telegraph]
* If it weren’t for Cosmo, this woman wouldn’t have known her landlord was an alleged creeper. A Maryland lawyer now faces criminal charges for allegedly filming his female tenants in the nude. [Washington Post]
* “We wants it, we needs it. Must have the precious!” The ABA officially put Florida A&M on notice that its law school accreditation may be in jeopardy if they don’t shape up in terms of bar passage. [Orlando Sentinel]
* What do you do the second you step off a cruise ship that’s been described as “a floating toilet, a floating petri dish, a floating hell”? You grab the very first lawyers you see, and sue! [Nation Now / Los Angeles Times]
You’ll have to excuse me if this post comes off a bit more confused or muddled than it usually does. It’s being written amidst the swirl and din of Valentine’s Day preparations. This year, I’m making dinner which I thought would be the easier (read: cheaper) option. Listen, there’s a reason I’m poor. And it’s not because I’m secretly a genius. This is the dumbest thing I’ve done. Just got back from the grocery store, where I spent a small fortune on one (still hypothetical) meal. Have I mentioned I can’t cook? This is a Hindenburgian disaster and I wish I could blame my girlfriend or the Valentine’s Industrial Complex. Maybe love itself for the way it blinds you to your inability to measure up, if only briefly. But no, none of these are the likely culprit. As I already said, there’s a reason I’m poor. A reason I’m financing a T14 debt burden on a TTT salary. I’m humble enough to admit that the only reason I continue to make bad decisions is a simple one: I think my mom smoked crack while she was pregnant with me.
Vince Young is broke. Or, he may be broke. At any rate, Vince Young is currently financing a Pro Bowl debt burden on a waiver wire salary.
* She loves me, she loves me not: media darling Sonia Sotomayor used to be in favor of the use of cameras during Supreme Court arguments, but she’s done a complete about-face on the issue, just like Justice Elena Kagan before her. [National Law Journal]
* Everyone and their mother knows what Antonin Scalia thinks of the State of the Union address, but let’s find out what my colleague Elie Mystal thinks about the good justice’s antics — namely, Scalia’s non-attendance for the past sixteen years. [HuffPost Live]
* American Airlines and US Airways will be merging to create the largest (and most awful) airline in the country. Perhaps the DOJ’s antitrust division can save us from this parade of horribles. [DealBook / New York Times]
* It looks like Team Togut is going to have a crappy Valentine’s Day. They thought that their partner problems were all wrapped up, but according to these filings, it seems that they’ve only just begun. [Am Law Daily]
* If Irving Picard, the trustee in charge of the Bernie Madoff bankruptcy case, is able to get his way, money will soon be raining upon the victims of the massive Ponzi scheme at warp speed. [WSJ Law Blog (sub. req.)]
* This probably isn’t just a “distraction” or “silly sideshow” anymore, because Apple now says it will be fighting Greenlight’s attempt to block the tech company from restricting its issuance of preferred stock. [Bloomberg]
* Instragram has asked a federal court to toss a lawsuit over changes to the photo-sharing app’s terms of service because it contests that users still own the rights to all of their fugly Walden-filtered pictures. [Reuters]
* Remember Kenneth Kratz, the former Wisconsin prosecutor who referred to himself as “the prize”? He’s settled his sexting suit with Stephanie Van Groll, also known as the “hot nymph.” [Twin Cities Pioneer Press]
* Go to grad school at Lehigh for free: check. Sue for $1.3M over your C+: check. Get chastised by a judge over your ridiculous lawsuit: check. Whatever, we still beat Duke, and that’s really all that matters. [Morning Call]
* Six Supreme Court justices attended last night’s State of the Union address, and although it was all hugs and kisses and handshakes to start off with, some looked as if they were due for naptime by its end (coughRBGcough). [Blog of Legal Times]
* It’s a clash of the Biglaw titans! In a face off between legal heavyweights, the Second Circuit has set aside time to hear arguments from Ted Olson and David Boies in the Argentine bondholder case. [Thomson Reuters News & Insight]
* Dewey know if this document specialist’s Worker Adjustment and Retraining Notification Act lawsuit has got any legs to it? It certainly must, because Judge Martin Glenn very recently denied the failed firm’s motion to dismiss it. [Am Law Daily]
* Congratulations to Paulette Brown of Edwards Wildman Palmer. This Jersey girl is the uncontested nominee for ABA president in 2015, making her the first minority woman to hold the title. [New Jersey Law Journal]
* Send in the clowns (or loads of O’Melveny and Akin lawyers): Apple’s CEO, Tim Cook, has a low opinion of David Einhorn’s Greenlight Capital lawsuit, referring to it as nothing more than a “silly sideshow.” [Reuters]
* “It is up to us in the academy to prepare our students for the future no matter what it holds.” Dean Frank Wu of UC Hastings seems to be on the right track when it comes to necessary law firm reforms. [Huffington Post]
* Poor, poor Teresa Wagner. She was allegedly denied a job because of her conservative views, and her case ended in a mistrial. That kind of a thing could drive a woman to drink… and drive. [Iowa City Press Citizen]
* Not only does Lehigh University ruin every college basketball bracket in the nation, but it also provides great “I’m suing you because of my crappy grades” fodder. Oh my God, I really miss you, Lehigh! [Morning Call]
* Thanks to the wisdom of the Ninth Circuit, we now know that, at least in Washington, a spit-laden hamburger from Burger King is grounds for emotional distress damages. Ugh, that’s nasty! [WSJ Law Blog (sub. req.)]
Some of our associate readers were nothappy with their latest bonuses. But hey, let’s look on the bright side: at least they got bonuses (assuming they made their hours).
The same can’t be said for former associates of the now-defunct Dewey & LeBoeuf. These associates sought to be treated as Dewey creditors in the firm’s bankruptcy case, but the effort isn’t going so well. And the same could be said of retired partners of D&L, some of whom could be paying money into the bankruptcy estate instead of getting money out of it….
Justice never sleeps… except during Obama’s SOTU addresses.
* “You just sit there, looking stupid.” The justices of the Supreme Court aren’t required to show up and look like “potted plants” at the State of the Union address, but some of them do every year. [CNN]
* Well, thanks to the DOJ’s fraud lawsuit filed against ratings agency Standard & Poor’s, it’s starting to look a lot like a litigation gang bang up in here as far as the states are concerned. [Bloomberg]
* Dewey know whether D&L’s retirees are still kicking (legally speaking) or if they’ve decided to send their claims to hospice? We certainly do, and we’ll have more on this later. [Am Law Daily]
* That “death and taxes” thing may be true, but when you’re trying to navigate the U.S. tax code as a married same-sex couple and the government won’t even recognize your union, there’s an uncomfortable air of uncertainty. [New York Times]
* “Have we seceded already? The execution is faster than I thought.” Guess which state in the Deep South accidentally raised a Confederate battle flag over the building that houses its Supreme Court. [Clarion-Ledger]
* Mama said knock you out: if you’re trying to figure out how to get a job after graduating from New England Law School, moonlighting as a champion boxer will help you beat down the competition. [Boston Herald]
* So, this happened over the weekend: Anonymous hacked the U.S. Sentencing Commission’s website and is threatening to release government secrets about the DOJ (and possibly all nine of our Supreme Court justices) unless the legal system is reformed. [CNET]
* A spoonful of sugar makes the lawyering go down? Apparently the best way to remind lawyers that they need to act civilly is through song. Or through Above the Law posts, but we aren’t in the habit of hosting sing-a-longs like the New York Inn of Court did. [Wall Street Journal]
* “[U]nless there are major changes in the legal industry,” law school administrators shouldn’t expect people to apply in droves, especially when they’re now fleeing like rats from a sinking ship. [National Law Journal]
* Arizona’s Supreme Court will allow people to take the bar exam after two years of study, but come on, the justices don’t want to jump the shark by allowing online law grads take the test, too. [East Valley Tribune]
* Tim Tebow got to trademark Tebowing, so why shouldn’t Colin Kaepernick get to trademark Kaepernicking? All the San Francisco 49ers quarterback wants to do is sell some inevitably overpriced t-shirts. [NBC Bay Area]
* An appeals court threw out two of Casey Anthony’s convictions, but her legal drama is far from over. The ex-MILF filed for bankruptcy to escape nearly $1 million in liabilities, including Jose Baez’s legal fees. [CNN]
Hey, have you read Above the Law for like one single minute in the past month? If so, you probably know that we’re having this big blogger conference on March 14th at the Yale Club. Yeah, the Yale Club. You’ll be able to recognize me: I’ll be the only big… blogger guy surreptitiously holding a can of crimson spray-paint.
Speaking of coming, you should come. We’ve got CLE and all that. Click here to buy tickets to get CLE credit for listening to bloggers scream about stuff on the internet.
To refresh your memory, details on the panel that I’m moderating — almost entirely sober, mind you — follow.
My panel is called Blogs as Agents of Change, and we’re going to talk about whether all of these spilled pixels are actually making a difference. You know my view… just ask Lawrence Mitchell, but here are the panelists:
So you spent a considerable amount of time courting, selling and maybe even doing some friendly stalking of that attractive lateral partner candidate with a sizable book. After he or she ignored your emails and didn’t return your calls, a few weeks go by and you read a press release in the legal media announcing the recent move to a competing firm.
Rats. Another one got away from you. You cringe when you consider how much time was spent in meetings that did not bear fruit. Your heart aches when recall how you were led to believe this was a marriage made in heaven.
You have been rejected.
The sting of rejection is painful, even for fancy law firms. But you need to find a way that you can turn this disappointment into a legitimate learning experience.
No, this isn’t a pre-party before we come back next fall for the real thing. This IS the real thing. Quinn Emanuel is pushing the envelope on recruiting. The party is now. This is when you meet the partners and associates face to face. This is when we begin the dance that could land you an offer for your second summer BEFORE school starts in the fall.
First: You come to the party. Second: If you like us, you send your resume after June 1, 2014. Third: If we like each other, you get an offer.
We’re not waiting for fall. We’re not doing the twenty minute thing. This party is the real thing!
We hope you’ll join us, and look forward to meeting you.
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