* Yesterday, we shared Paul Caron’s plan to end the sequester by forcing government officials to experience delays due to air traffic control furloughs. Well, Congress voted to end the furloughs. We should have known that once the sequester inconvenienced a member of Congress this would end. [Reuters via Yahoo!]
* Ken Langone does not agree with Richard Farley of Paul Hastings. And tells him so. Loudly. [DealBreaker]
* If you’re looking for CLE credits in Houston, check out this event where you can win a semi-automatic 12-gauge shotgun for your trouble. And it counts for Ethics! [NRA Blog]
* “Izadi suggested she could pay her law school tuition by turning tricks.” Is a pimp really that much worse than Sallie Mae? [Las Vegas Review Journal]
* Overlawyered is now part of the CATO Institute. Enjoy working for the Koch brothers! I hear they’re really easy to work with over there. [Overlawyered]
* Getting tossed from a case for “bad behavior”? That’s the Chicago way! [Chicago Tribune]
* An interview with American Lawyer Editor-in-Chief Robin Sparkman about the newly released Am Law 100 law firm rankings, after the jump….
To get a sense of how old and long-drawn-out the SEC’s insider trading lawsuit against Mark Cuban is, consider this: the company in which he allegedly insider traded was Mamma.com. The .com was right there in the name. Future generations — hell, present generations — will indiscriminately add “.com” to the end of words to create an old-timey feel, the way we doeth with “-eth.”1
Actually it happened in 2004, and I don’t even need the “allegedly”: there’s no dispute that Cuban insider traded. Everyone agrees that:
Mamma.com was planning to sell some stock in a PIPE offering which would, inevitably, drive down its stock price;
Mamma.com’s CEO called Cuban and told him about the planned PIPE offering in advance, hoping to get Cuban to buy more stock;
Cuban instead sold the stock he already had, prior to the public announcement of the PIPE deal; and
Then the PIPE was announced and the stock dropped.
So he had material nonpublic information, and he traded on it, and he avoided losses by doing so. INSIDER TRADING. The only debate is whether he insider traded illegally, which, as I often find myself reminding people, is a separate question. The SEC’s lawsuit2 turns not on the facts above, but on whether Cuban agreed not to trade before learning the inside information. Here the evidence is less clear, but there’s enough evidence that he did for the SEC to survive summary judgment yesterday and take the case to trial. Here is that evidence:3
* Above the Law promotes real-world change! Complaint filed against a Texas judge after we call him out for being RACEIST! [ABA Journal]
* If you were thinking of calling your friend from the Philippines a “skank” on Facebook, you may want to reconsider. [Philippine Inquirer]
* If you’re a powerful financial executive, lay off the bath salts. [DealBreaker]
* Judicial throwdown at the Second Circuit! Short version: Judge Raagi thinks Judge Jacobs should care way more about punishing guys sexting underage girls. Judge Jacobs thinks Judge Raagi watches too much Dexter. [Second Circuit / FindLaw]
* Kenneth Anderson describes the U.S. government’s longstanding love affair with “imminence” in the context of the Obama drone strike white paper. To borrow from Rev. Lovejoy’s sermon: “Imminence…sweet imminence.” [Lawfare]
* Judges: If you’re going to base a decision on a particular fact… don’t include pictures in the opinion that directly contradict that finding. Check out page six, line two and Appendix 2 [Court of Appeals, State of Oregon]
* SCOTUSBlog and Bloomberg Law have a competition for law students. Beat your peers AND the SCOTUSBlog team and win $5000. [SCOTUSBlog]
* Obama has made more women federal judges than any other president in history. But he still has a long way to go to match Bill Clinton’s record for being judged by women. [Wall Street Journal]
* Let’s agree that neither of the people running for president should be a tax lawyer. [Going Concern]
* This story about law firms involved in a class action suit allows me to quote one of the great Abraham Lincoln lines, as retold by the late Shelby Foote: “There’s too many pigs for the tits.” [Forbes]
Matt here. You might think that Dealbreaker HQ exists only metaphorically in virtual space, or maybe in the fan fiction you’re hiding in your desk, but in fact Bess and I share a real physical garrett both with our sibling sites Fashionista and Above the Law. Occasionally we even talk to each other. “Talk,” in this context, normally means that Above the Law editor Elie Mystal shouts at us about some outrageous political position. In order to quiet him down a bit, we’ve decided to take it to the internet, thus spawning the first – and maybe last! – Above the Law / Dealbreaker Debate Society.
I have been set the task of defending a proposition like “white-collar criminals should not get anything near the jail time they get.” (We are pretty casual with our resolutions here at the Breaking Media Debate Society.)
A lot of my closest friends are male. It’s probably because we share the same sense of humor about most things. But sometimes broish pranks cross the line from being funny to freakin’ disgusting at warp speed. Guys, here’s a little tip: anything outside of the bedroom that has to do with giving a girl a protein slurpee usually crosses that line.
Earlier this week, we brought you a story about a sushi roll with “special sauce” that was allegedly served up in New York. Now we learn that a California man who laced a lady’s drink with his load has been ordered to pay for it.
Why did this mediocre mixologist decide to shake up his co-worker’s drink with a shot of his DNA? And how much did the court award to his victim?
If you are lawyer who is looking for a career change, you really might want to give blogging a try. You won’t make as much money as you would in a Biglaw job. You probably won’t make as much as you would working for a well-respected small law firm.
But money isn’t everything. Take it from me. Or Lat. Or Staci. For instance, right now I’m sitting in my backyard, my dog is curled up by my feet, and I have a fresh pot of coffee. Once I turn the ringer off on my phone (so I can’t hear my creditorscalling), it’s a pretty good life. Beat that with a stick.
And it is with that in mind that we welcome another former lawyer to the Breaking Media fold. Check below to meet the new writer for our sister site, Dealbreaker…
You know the only thing worse than getting run over by some rich joker in a Mercedes-Benz? Getting run over by a rich joker in a Mercedes-Benz who gets a slap on the wrist because his Mercedes-Benz is a brand-new Mercedes-Benz.
Dr. Steven Milo knows that pain all too well. Our sister site, Dealbreaker, explains the situation:
Back in November, it was reported that last summer, Morgan Stanley financial adviser Martin Joel Erzinger… had driven over a doctor who was on his bike and then kept going, “until he reached a Pizza Hut parking lot, where he stopped and called Mercedes auto assistance to report the damage to his vehicle.”…
The part of the story that was somewhat more shocking was that rather than be slapped with serious to quite serious charges, a court decided that for his crime, MJE would be hit with two misdemeanor traffic violations and restitution to the victim. People were somewhat outraged, to say the least. But! That was prior to hearing all of Marty’s side of the story.
According to Erzinger’s defense lawyers, Erzinger suffers from sleep apnea, and that condition was exacerbated by the new car smell of his month-old Mercedes. And that all caused him to lose consciousness during the hit-and-run fiasco.
I knew having a new Mercedes was a status symbol; I didn’t know it was a designer drug…
A Dealbreaker reader was out and about on the Upper West Side, and something caught his eye. He moved in for a closer look, snapped a photo, and sent it to Dealbreaker. Our colleague Bess Levin has been having a grand old time ever since.
Me? I just want people to see it before they go to law school. I want people to see it before they write television shows about the lavish lifestyle of lawyers, or complain that young lawyers feel a sense of entitlement.
But mostly, I want somebody out there to get me a wide angle shot of the photo — I’m in the market for these services…
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
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