Biglaw firms love having Facebook as a client. The firms and lawyers that represent Facebook often brag about it on their websites and in conversation. The former scrappy startup is now an S&P 500 component with a market capitalization of $200 billion. It’s great to have Facebook as a client.
It’s less great to have Facebook as your courtroom adversary. But that’s exactly the position that DLA Piper finds itself in. Earlier today, the social-media giant filed a lawsuit against the Biglaw behemoth, as well as several other lawyers and law firms.
* The Supreme Court is allowing Texas to enforce its strict voter identification law during the upcoming election, but Justice Ruth Bader Ginsburg, hero to the masses, wrote a rather scathing dissent in opposition. [New York Times]
* Michael Millikin, GM’s beleaguered GC, will be stepping down from his position while the Justice Department continues its probe into the company’s fatal ignition switch failures. A replacement has not yet been named. [WSJ Law Blog]
* Baltimore Law and Maryland’s HBCUs hooked up to assist underrepresented minorities get into law school. Full scholarships come with GPAs of at least 3.5 and LSAT scores of at least 152. [USA Today]
* Accused Boston Marathon bomber Dzhokhar Tsarnaev isn’t doing well in court, and his trial hasn’t even started yet. Motions to dismiss his case and to suppress evidence were denied. [National Law Journal]
Top ten firms with the most Corp. Counsel mentions.
No one should be surprised that Fortune 500 companies hire some of the biggest names in law for legal services.
Corporate Counsel’s annual report lists the top ten law firms hired by the Fortune 500. As David Lat points out in Who Represents America’s Biggest Companies? (2014), “the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one.”
The answer? Workplace law.
I asked Brian Rice, LexBlog’s CFO/COO, for his thoughts on the Corporate Counsel report. Warning: Brian is a big-time data junkie. His take:
* Congratulations to Tony West on his new gig as general counsel of PepsiCo. It sounds like an exciting and challenging opportunity. Plus, you know, free Mountain Dew. [Politico]
* What the hell? The feds stole a woman’s identity and made it into a Facebook page. Well, now she’s found out and she’s suing. Identity theft was one thing, but the way the DEA Agent kept spamming the woman’s friends to play Candy Crush Saga was just unacceptable. [Buzzfeed]
* It’s Nobel Prize time, and one of the winners for Physics has a personal story about how important it is to hire a good lawyer. In fact, it was about $180 million important. [Slate]
* We constantly beat the drum of how law schools need to adjust to reality and stop duping students into terrible financial decisions. But here’s the PR secret that’s kept law schools from, by and large, collapsing: they sell the experience. [Law and More]
* An open letter begging Amal Alamuddin not to quit her day job now that she’s married to some acting guy. [The Careerist]
* New York City paid $50K to settle a lawsuit brought by the family of a child who killed herself after school officials allegedly did nothing despite several warnings that the girl was being brutally bullied. There’s a lot of “in my day…” types who read this site who may not care about bullying, but this is more a question of irresponsibility. If your job is to provide a safe learning environment and you fail, you pay. [DNA Info]
* At oral argument, the Court seemed generally supportive of the Muslim inmate hoping to grow a beard. If this intuition is right, soon individual people may have the same religious rights as corporations! [Supreme Court Brief]
* Finally, thanks to the Rutgers-Newark Law School chapter of the American Constitution Society for hosting a great event today where Elie and I previewed the upcoming SCOTUS Term. My personal highlight was watching Elie’s head explode while talking about Young v. UPS.
Over three days during September 17-19, InsideCounsel magazine succeeded where others have not. They created a national forum to facilitate women-to-women exchange on current legal issues. This year’s conference was the second annual meeting to bring together talented women attorneys. As part of the process, InsideCounsel invited nationally-recognized women who are General Counsel for Fortune 500 companies and attracted the best and brightest among in-house attorneys around the world. One speakers’ panel shared their experiences for getting to the GC leadership positions where they are today, and the advice is refreshingly candid.
Corporate Counsel just released its annual list of the law firms that Fortune 500 companies utilize as outside counsel (as noted in Morning Docket). Not surprisingly, the nation’s biggest corporations turn to some of the biggest names in Biglaw for legal services.
But as we noted last year, the most-mentioned firms aren’t necessarily the most prestigious or the most profitable. The rankings prioritize quantity, and they’re dominated by firms that excel in a particular practice area. See if you can guess which one….
A full house for last week’s in-house counsel panel at Betterment.
Last week, Betterment and Above the Law hosted a great panel discussion about working as an in-house lawyer at a relatively young company. The event, hosted at Betterment’s spacious and airy offices in New York’s Flatiron neighborhood, drew a standing-room-only crowd of around 200 people.
How can you get a job as an in-house lawyer for a startup? And what’s life like once you’re there?
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: