If at first you don’t succeed, try, try again. From our sister site, Going Concern:
[A] judge in Seattle has allowed a revised lawsuit to proceed that lists “Washington Mutual officers and directors, underwriters, and the auditing firm Deloitte & Touche” as defendants.
The revised lawsuit was trimmed down to a “concise” 267 pages from the original 388 that the judge described as “verbose” and “disorganized”.
“Verbose” and “disorganized” would also describe many lawyers we know. On the defense side, though, it’s an all-star cast. From Am Law Litigation Daily:
The lineup for the defendants includes Simpson Thacher & Bartlett attorneys Barry Ostrager and Rob Pfister for former WaMu officers; Ronald Berenstain of Perkins Coie for former WaMu outside directors; Barry Kaplan of Wilson Sonsini Goodrich & Rosati for former WaMu CEO Kerry Killinger; Peter Wald of Latham & Watkins for Deloitte; and Jonathan Dickey of Gibson Dunn & Crutcher for the underwriters.
Last month, Simpson Thacher announced a new public service fellowship program. The move was widely praised as a creative, public-spirited way of dealing with the downturn.
Some commenters wondered whether it reflected work slowness at Simpson. If STB is willing to let 15 junior associates go off and do public interest work for a year, could it mean that there isn’t enough work to go around?
In this slow economy, billing over eight hours a day might seem… harsh. Is it fair for STB litigators to stay at work until 10, while the private-equity folks leave by 6?
If you’re a Simpson associate, however, you should refrain from complaint. Instead, after getting staffed on doc review for some stupid reinsurance case, email Barry O. and say: “Thank you sir, may I have another?”
* Barry Ostrager of Simpson Thacher bills out at $1,000 an hour? Well, just keep him away from your bathroom. [WSJ Law Blog]
* Eager to soak the rich (hedge fund kings)? Good luck with that. [DealBreaker]
* Remember the wacky Stephen Dunne, who blames the gays for his bar failure? Not being admitted may be the least of his problems. [Keeping Up With Jonas]
* A funny parody? Or a disturbingly accurate account of how the law review submission process works? [Concurring Opinions]
* Truth in advertising? This was probably well-intentioned, but ultimately unwise. [copyranter]
* Voting irregularities: not limited to “coolest law school” contests. [Machinist]
* Last Tuesday, a civil action captioned Aaron Brett Charney v. Sullivan & Cromwell LLP was filed in New York Supreme Court — and the world of Biglaw has never been the same ever since. Click here to access the complete archives of our Aaron Charney coverage.
* Of course, Sullivan & Cromwell partners aren’t the only bosses who are jerks challenging (allegedly).
* Don’t forget the Divine Miss C, Shanetta Cutlar, whose delicious reign continues over at the Justice Department’s Special Litigation Section.
Compared to Aaron Charney and Shanetta Cutlar, other topics pale by comparison. But here are other highlights from the past week in legal news:
* Charles “Cully” Stimson apologizes for ranking on Gitmo lawyers.
* In New Orleans, trials get rescheduledfor football.
* Barry Ostrager of Simpson Thacher, the renowned business litigator, has poor bathroom manners (or aim).
* The justices of the Michigan Supreme Court just can’t stop squabbling.
* Now we know the real reason — or rather, the 25 million reasons — that the Dewey Ballantine / Orrick Herrington & Sutcliffe merger was scuttled.
* Third Circuit Judge Marjorie Rendell, who also serves as the First Lady of Pennsylvania, sings a duet with Jon Bon Jovi. We don’t know whether to be delighted or frightened.
From the “it can happen to anyone” file, the Second Circuit dismisses a cross-appeal by Travelers Insurance Company because its law firm filed the notice of appeal one day late. After the losing party in the district court filed a notice of appeal, Travelers had 14 days to file its notice of cross-appeal. However, the firm calculated the 14 days from the date it received the notice, not from the date the notice was actually filed. The district court denied Traveler’s motion to extend the deadline by one day, explaining that this was a case of “garden variety attorney inattention” and not excusable neglect. The Second Circuit affirms (PDF).
The law firm that made this rookie mistake was one of the whitest of the white shoes, the venerable Simpson Thacher & Bartlett. The partners on the brief have stunning resumes, and the fifth-year associate has done plenty of litigating, given that he is admitted to practice in three jurisdictions and thirteen courts. So, yes, it can happen to anyone. (And in case you’re wondering, no, STB did not reject me.)
Decision of the Day is too nice to name the STB lawyers on the brief, but we have no such qualms. These are matters of public record. The attorneys who screwed up here are partner Barry R. Ostrager, partner Andrew T. Frankel, and associate Robert J. Pfister.
Barry Ostrager, by the way, is routinely named as one of the country’s top business litigators and trial lawyers. See, e.g., here, here, and here. He’s not particularly nice; as one litigator diplomatically observed, Ostrager “doesn’t suffer from the need to be loved.” But he has been very successful for his clients.
Given Ostrager’s stellar reputation, this latest defeat is particularly embarrassing. It’s one thing when you litigate a case as best you can, then lose because the law just isn’t on your side. It’s another thing when a federal trial judge finds you guilty of “garden variety attorney inattention,” and then an appeals court affirms, holding that your “attorney inadvertence” — a charitable phrasing — does not constitute “excusable neglect.” Great litigators, after all, are supposed to be careful, attentive, and detail-oriented.
But this is not Barry Ostrager’s only lapse. His failure to pay attention to detail extends to the men’s room — as we have had the misfortune of observing, firsthand.
Read all about it, if you dare — don’t say we didn’t warn you — after the jump.
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
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.