Kramer Levin

Morning Docket: 07.20.11

By Juggalo Law

* News Corp. has hired Paul Weiss attorney Mark Mendelsohn, a Foreign Corrupt Practices Act expert, to advise them. In related news, Chuck Norris has hired Wendi Deng Murdoch to advise him. [WSJ Law Blog]

* Utah’s goofy liquor laws are examined in this New York Times article. The restrictive laws clearly came out of Joseph Smith’s attempt to monopolize visions emanating from the bottom of hats. [New York Times]

* President Obama’s evolving views on gay marriage have led him to back an attempt to repeal DOMA. I’m no Frank Lutz, but I see a messaging problem on gay issues if he keeps up this whole “leading from behind” shtick. [Los Angeles Times]

* Kramer Levin is “client-focused” and looking for someone who is “entrepreneurial” and the “total package.” Words! [The Careerist]

* The Feds arrested a mess of Anonymous hackers yesterday. They dun goofed. [ABA Journal]

* Pittsburgh Steelers running back Rashard Mendenhall is suing Hanesbrands, parent company of the Champion sports apparel maker, for dropping him after some dumb tweets. Dude said some pretty stupid stuff about 9/11, but the true jewel of his collection was buried deep in this story. In a tweet aimed at women who don’t perform oral sex, Rashard said “It’s either gonna be you, OR some other chick.” Hahahaha. Oh, Rashard. [ESPN]

Associate Bonus Watch: Kramer Levin

By David Lat

2009 Associate bonus watch above the law.JPGLast week, Kramer Levin announced its bonuses. The firm is paying bonuses on the Cravath scale, to associates “in good standing.” So it looks on the surface like a market match.
But the memo contains the following language worth noting:

As has been our practice, eligibility to receive the Year-End Bonus will be based on merit and achievement of hours thresholds (which are expected to be the same as the last couple of years); associates who do not satisfy these components may be eligible to receive Year-End Bonuses in lesser amounts.

Do these merit and hours requirements keep a significant number of associates from receiving the full bonus? We don’t have enough data points to say; feel free to discuss in the comments. Also note that bonuses won’t be paid for a while — not until February 15, 2010.
The full memo appears after the jump.

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Fall Recruiting Open Thread: Vault 91 – 100 (2010)

By Elie Mystal

comparing.jpgHere we are. The end of the Vault 100.
To be on the Vault 100 is to be a well-known firm. Sure, maybe not well-known to law students or junior associates who can’t see past the mountain of doc review boxes in their windowless conference rooms. But known to partners … and clients. Look down your nose at these firms if you wish, but remember the old African proverb: “The smallest elephant can still crush your Lexus.”
Here is the final batch of top law firms for discussion:

91. Stroock & Stroock & Lavan
92. Blank Rome
93. Seyfarth Shaw
94. Kramer Levin Naftalis & Frankel
95. Manatt Phelps & Phillips
96. Squire Sanders & Dempsey
97. Sheppard Mullin Richter & Hampton
98. Patterson Belknap Webb & Tyler
99. Wiley Rein
100. Mintz Levin Cohn Ferris Glovsky and Popeo

What say you about these fine firms? Some final thoughts after the jump.

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Nationwide Layoff Watch: Kramer Levin Kuts 39 (18 Lawyers, 21 Staffers)

By Marin

Kramer Levin Naftalis Frankel LLP new logo ATL Above the Law blog.jpgLayoffs, layoffs everywhere. And not a one doesn’t stink.

The latest bummer comes from Kramer Levin, where attorney layoffs were conducted last Thursday. Staff layoffs took place today to the reaction of “shocked” personnel (in the words of a tipster). The firm confirmed the bad news to us via phone:

We confirm that in connection with our year end review process, 18 attorneys and 21 staff members were let go by the firm. Terminations were based on both economic and performance considerations.

But don’t take our transcribed word for it. An email sent by the firm’s managing partner at 4:20 p.m. today, after the jump.

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‘Impossible Pursuits’ at Kramer Levin

By Kashmir Hill

Kramer Levin Natalie Portman Dean Morgan.jpgKramer Levin is going to be a film star. The New York office received notice yesterday that a movie shooting will start there next week.

From: Tortorella, Nicholas J.

Sent: Wednesday, November 05, 2008 11:39 AM

To: All NY

Subject: Movie Shoot at KL

The firm has consented to permit several scenes from “Love and Other Impossible Pursuits” to be filmed in our space. The movie features Natalie Portman, Lisa Kudrow and Jeffrey Dean Morgan. Filming is scheduled to begin next week and will take place in 29C – 29L – the north corridor of 30 and office 3027. I know this will present some inconvenience, but we thought that it would add a bit of excitement and fun in an otherwise challenging time. I ask your patience and no, they don’t require any extras, stunt people, walk-on’s or real lawyers!! Filming will take place primarily on Wednesday and Thursday of next week but there will be some activity as early as tomorrow. They chose our space because it conveyed the image of a big, powerful, successful NYC law firm (in spite of our recent plumbing issues). The film will be released next year and the firm will be mentioned in the credits.

In the novel-based film, Natalie Portman will play an aspiring lawyer who “thought she knew what she wanted when she went after the sexy, married senior partner,” Jeffrey Dean Morgan (aka Denny Duquette from Grey’s Anatomy). No plumbing issues for the firm partner: Portman’s character gets pregnant.

Love and Other Impossible Pursuits [Internet Movie Database]

Musical Chairs: Bankruptcy Lawyers on the Move

By Elie Mystal

kramer levin logo.JPGThis is not the best time to be losing Bankruptcy rainmakers. But according to the ABA Journal, that is exactly what is happening to Kramer Levin Naftalis & Frankel. The three partners are: David Feldman, Eric Wise and Matthew Williams. David Feldman was formerly the co-chair of Kramer Levin’s bankruptcy group.

Gibson Dunn’s press release heralding the new hires reinforced the trio’s rainmaking capacity:

“This group has an established practice and a tremendous reputation in the distressed debt arena and will give Gibson Dunn a strong foundation in this growing area,” said Michael Rosenthal, Co-Chair of the Business Restructuring and Reorganization Practice Group.

Update (3:51): As many commenters pointed out, bankruptcy superstar Luc Despins is leaving Milbank for Paul Hastings. According to the National Law Journal:

Luc A. Despins, well-known in the profession for his representation of the creditors’ committee in the bankruptcy of Enron Corp., is the latest marquee name to be poached as firms rush to ramp up restructuring practices in response to the worsening economy.

According to our sources at Milbank, no associates will be leaving with Despins. The firm could not be reached for immediate comment.

Bankruptcy lawyers are the new IP attorneys. They’re very much in demand.

Kramer Levin Bankruptcy Trio Jumps Ship to Gibson Dunn [ABA Journal]

Top Milbank Bankruptcy Partner Leaves for Paul Hastings [Law.com]

Gibson Dunn Adds Three-Partner Bankruptcy and Distressed Debt Group in New York [Gibson Dunn]

Legal Eagle Wedding Watch 9.7: No Ordinary Love

By Laurie Lin

champagne glasses small.jpg
For the commenters who yearn to see more “ordinary” couples in the Legal Eagle Wedding Watch, we commend this pair to your attention. The groom is a radio personality, and the bride has a JD from Loyola. They seem likable and . . . ordinary. Is this the type of couple our readership craves? Should we devote one slot a week to a Tier-II couple? Designate one column a month as Ordinary Week? Please advise. (This is actually a serious question. LEWW recognizes that we can’t satisfy everyone, but we do aim to please.)
For now, we’ll to continue to celebrate the extraordinary. Our finalist couples have degrees from Harvard, Yale, NYU, Chicago, and other elite schools, some with athletic programs. All three brides toil in Manhattan law firms, and all three grooms serve humanity in important-sounding public-sector jobs. Here they are:

1. Jessica Buturla and Caswell Holloway IV
2. Sarah McDonald and Patrick Egan
3. Johanna Greenbaum and David Newman

More on the couples below, including photos.

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Fall Recruiting Open Thread: Vault 91-100 (2009)

By Kashmir Hill

comparing.jpgThis marks the end of our review of the firms in the Vault 100. This is the final bunch up for discussion (with prestige scores in parentheses):

91. Lovells (4.494)
92. Thelen Reid Brown Raysman & Steiner LLP (4.489)
93. Hughes Hubbard & Reed LLP (4.478)
94. Kramer Levin Naftalis & Frankel LLP (4.459)
95. Kilpatrick Stockton LLP (4.452)
96. Locke Lord Bissell & Liddell LLP (4.439)
97. Squire, Sanders & Dempsey LLP (4.421)
98. Seyfarth Shaw (4.399)
99. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC (4.394)
100. Fenwick & West LLP (4.373)

Discuss. Dissect. Compare. Contrast. Most of all, enjoy.
Earlier: Vault 100 Open Threads – 2009

An ATL / Kramer Levin Public Service Announcement: Don’t Forget to Spring Forward This Weekend

By David Lat

From a student at Duke Law School:

I had to laugh out loud at Kramer Levin’s use of the daylight savings time maxim, “spring ahead/spring forward,” to suggest that we could do the same for our careers by coming to their firm. See the flyer below, which they seem to have sent to the entire 1L class.

Actually, we think it’s kinda cute! Check out those otherworldly tulips:
Kramer Levin Naftalis Frankel spring ahead daylight savings time Above the Law blog.jpg
And it’s a helpful reminder for overworked law firm associates. If you have a conference call scheduled for, say, this Sunday morning at 10, you don’t want to miss it.

Morning Docket: 02.01.08

By B Clerker

* NFL Union president prepared for strike. [ESPN]
* Microsoft offers to acquire Yahoo for $44.6 billion to compete with Google. [MSNBC]
* Times reporter subpoenaed over “State of War” source. [New York Times]
* French President and supermodel girlfriend sue over pictures. [Washington Post via WSJ Law Blog]
* HLS grad Obama and YLS grad Clinton make nice, sort of, during debate. [MSNBC]
* SCOTUS stays Alabama execution, maintaining de facto moratorium on death penalty. [CNN]
* Roy Tolles and Arthur Kramer, of Munger Tolles and Kramer Levin, respectively, RIP. [WSJ Law Blog]

Associate Bonus Watch: Monday Round-Up
(Plus a Hint of a Base Salary Increase?)

By David Lat

associate bonus watch 2007 law firm Above the Law blog.jpgBonus season is still with us, although it’s winding down. Announcements continue to trickle in, but at a reduced pace. Going forward, we will combine bonus info into omnibus posts that will go up periodically, depending on whether we have a critical mass of tips.
Here is today’s compilation of associate bonus news — plus a tantalizing email, from Allen & Overy, that raises the possibility of an associate pay raise.
1. Thacher Proffitt & Wood: TPW has been hit hard by the credit crisis. As we reported back in November, they may be laying off associates this month. But at least they’re still paying out bonuses to the folks who are still around:

TPW paid bonuses year end. No standard memo to all, so information is hard to come by. They paid market bonus ($35,000 for class of 2006) with an hours requirement.

There seem to be four tiers: 2100 hours = full bonus, 2000 hours = half bonus, 1900 hours = somewhere between a third and a fourth ($10,000 for class of 2006 associates), and below 1900 hours = no bonus.

2. McDermott Will & Emery. Here’s a follow-up to our prior post on MWE:

They are having a videoconference on the 15th with all associates to discuss compensation. In the meantime, they allegedly are continuing to monitor market data. It appears as if they will try and fix their initial misread of the market, but no one knows when, how or by how much. In some cities, peer firms’ bonuses [were] 3, 4 or 5 times MWE’s bonuses.

3. Kramer Levin Naftalis & Frankel: We previously wrote about the Kramer Levin bonus announcement. Now comes this caveat:

Sneaky to state that everyone gets the special bonus at 2000 hours, but it’s not market. For example, a fourth-year will either get 80k for 2150 or 38k for 2000-2149.

The Kramer Levin memo appears after the jump.
4. Allen & Overy: This is not bonus news, but over at Allen & Overy — or should that be Allen & Oy-vey-ry? — an email went out before the new year telling associates that the firm probably “will not be able to announce associate/senior counsel salaries for 2008 before the year begins.” One source wonders:

Have any other firms mentioned something like this? Do you think management knows something about a pending raise? Why wait, unless they have information about a possible raise?

Intriguing. We’ll keep you posted.

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(Plus a Hint of a Base Salary Increase?)”

Biglaw Perk Watch: Associate Client Fees

By David Lat

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGHere’s an interesting (and potentially lucrative) Biglaw benefit, which was recently brought to our attention:

How about a Biglaw perk watch thread on associate client fees? For example, at Kramer Levin, if an associate brings a new client to the firm, he or she gets 7 percent of all fees collected from that client.

The rule applies even if the associate isn’t involved in the matter. So, for example, a litigator who brings in a corporate client would still get the percentage.

We have heard of such arrangements, although we think they tend to be more common among midsize and smaller firms, as opposed to the biggest of Biglaw shops. But even if you don’t share in the fees, it obviously helps your partnership chances if you have the power to bring in a major client (e.g., because your mom is the CEO or GC of a Fortune 500 company).
If you have thoughts or information to share, please do so in the comments. Thanks.

Associate Bonus Watch: Kramer Levin Announces
(Bonuses Subject to ‘Merit’ and Hours Threshold)

By David Lat

associate bonus watch 2007 law firm Above the Law blog.jpgA day without bonus announcements is like a day without sunshine. And for a while it looked like today was going to be one dark day — perhaps fitting, given the stock market tumble.
But Kramer Levin has come to the rescue. Check out their bonus memo, after the jump.

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(Bonuses Subject to ‘Merit’ and Hours Threshold)”

Wachtell and Wikipedia: Not So Perfect Together?

By David Lat

Wachtell Lipton Rosen Katz WLRK Above the Law blog.jpgOver on AutoAdmit (via Concurring Opinions), folks have been talking about Wikiscanner. This neat application allows you to see recent edits to Wikipedia and who made them, in terms of the editor’s IP address (which often reveals their employer).

As Professor Dave Hoffman notes at Concurring Opinions, law firm lawyers seem to love playing with Wikipedia. A tipster is more specific:

Apparently members of Vault 15 law firms have been making, umm, questionable edits to wikipedia. For example:

– Vandalizing Ann Coulter’s page
– Shameless self-promotion
– Editing articles on BDSM (WTF?)
– Hiding links to Skull and Bones
– Taking shots at Noam Chomsky
– Taking shots at other firms

Eric Turkewitz, over at the NY Personal Injury Law Blog, zeroes in on edits made from computers at Wachtell Lipton (where we once worked). He accuses the firm of “duplicity,” since someone at WLRK is making (flattering) edits to the firm’s page, even though the firm claims it doesn’t engage in advertising or marketing.

But what if the edits were made not by Wachtell firm management, but by a mere associate? Would that be as problematic? Should Wachtell, or any other law firm, prohibit firm employees from touching up firm write-ups in Wikipedia (at least from law firm computers)?

With respect to the Wachtell Wikipedia edits, we have some interesting speculation. Check it out, after the jump.

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Legal Eagle Wedding Watch 8.5.07: From Russia with Love

By Laurie Lin

LEWW logo.jpgBefore we begin, a nod to one of the best wedding write-ups we’ve seen in a while, and for once (just once) we’re not being the least bit tongue-in-cheek. Joanne Handler and John Rau III didn’t make our final three this week, even though John has a law degree, but . . . wow. They are 50-year-olds (very attractive 50-year-olds) who dated for a year in college and then broke up when he transferred to another school. John married someone else, but Joanne stayed single, still pining for John:

“I never forgot about him, because he was the love of my life,” Ms. Handler said. “For 30 years, I was never in love with anyone else. I had long-term boyfriends, but I could never get married because I could never love anyone the way I loved John Rau.”

But this three-hanky chick flick has a happy ending. The spinster librarian (really!) received a call from the recently divorced John in 2005:

“I was shaking with joy when John called,” Ms. Handler said. “For 30 years, I knew that we were meant for each other, that he was the perfect man for me. I knew I was right.”
So did Mr. Rau.

Beautiful. [And now we'll pause while everybody Googles their college crush -- and their spouse's.]
But back to what this column is really about: raw, choking prestige.
Here are our three finalist couples (all lawyer-lawyer pairings):

1. Nicole Lipman and Michael Ellis
2. Alison Sclater and Wells Dixon
3. Sofia Yakren and Boris Bershteyn

More about these couples, after the jump.

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Clerkship Bonus Watch: Kramer Levin

By David Lat

Kramer Levin Naftalis Frankel LLP logo Abovethelaw Above the Law blog.jpgFirms continue to raise their clerkship bonuses, although the pace of announcements seems to be slowing.
Here’s the latest addition to the $50K/$70K Club:

“Kramer Levin increased its clerkship bonus to $50,000 for one year and $70,000 for two years. The info is on their NALP page.”

Indeed it is. You can access the firm’s form by running a search on this page.
And if you’re looking for a continually updated compilation of clerkship bonus information, we refer you to this list, over at the Law Clerk Addict blog. Very helpful!
P.S. Random factoid about Kramer Levin: it’s the former Biglaw home of the WSJ Law Blog’s Peter Lattman, who practiced litigation there for two years in the 1990s.
Vault 100 clerkship salary bonus chart [Law Clerk Addict Blog]

Skaddenfreude: The Kramer Levin Memo

By David Lat

100 dollar bill Above the Law Above the Law law firm salary legal blog legal tabloid Above the Law.JPGWe have a bit of a backlog of law firm associate pay raise announcements. We’ll be clearing that backlog over the course of the day today, as well as publishing any new memos and emails that we receive (interspersed with our non-compensation coverage).
Here is the Kramer Levin email announcing increases in base salaries for its associates, which went out on Friday afternoon:
Kramer Levin Naftalis Frankel associate base salary pay raise memorandum memo.JPG
Earlier: Previous announcements of law firm associate salary increases (scroll down through “Skaddenfreude” archives)

Musical Chairs: 01.05.07

By David Lat

musical chairs 2 Above the Law legal blog above the law legal tabloid above the law legal gossip site.GIFNothing huge today, like yesterday’s news about Harriet Miers’s departure; but a few interesting moves. The two most noteworthy ones involve transitions between the public and private sectors:
From politics to private practice:
* Asa Hutchinson has rejoined Venable’s Washington office. Hutchinson — a former Undersecretary of Homeland Security, Republican congressman, and chief of the DEA — left the firm in March 2006, to run (unsuccessfully) for Arkansas governor.
From private sector to government:
* New York’s brand-new Attorney General, Andrew Cuomo, snags another former federal prosecutor for his “dream team.” Henry Greenberg is leaving the Albany office of Greenberg Traurig to serve as Cuomo’s counsel.
Law firm news, after the jump.

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Musical Chairs: 12.13.06

By David Lat

musical chairs 2 Above the Law legal blog above the law legal tabloid above the law legal gossip site.GIFIt has been a while since our last round-up of notable moves within the legal profession. So there’s a lot to report today:
Law Firm to… Prison?
* Former Milberg Weiss name partner Steven Schulman resigned from the firm to pursue “new ventures.” The most important of these “ventures” will surely be fighting federal charges of making illegal payments to plaintiffs in past cases.
Law Firms to In-House:
* Securities lawyer Stephen Cutler is leaving his partnership at WilmerHale to become general counsel of J.P. Morgan Chase & Co., the banking giant. From a tipster who works in securities law: “This is a big deal.”
Colleagues of Cutler described the JP Morgan gig to the WSJ Law Blog as a “once-in-a-lifetime” opportunity. Translation: Who wouldn’t want to make mid- instead of low-seven-figures?
* Another WilmerHale departure: J. Kevin McCarthy is taking over as top lawyer of the Cowen Group, an investment bank.
Government to Private Sector:
* Former New Jersey Chief Justice Deborah Poritz joins the Princeton office of Drinker Biddle & Reath, as of counsel. She stepped down from the New Jersey Supreme Court in October, after reaching the mandatory retirement age.
Government Promotion:
* David Nocenti, current counsel to New York Attorney General Eliot Spitzer, will become counsel to the governor effective January 1.
Academia-Biglaw Alliance:
* Harvard Law School Professor Laurence Tribe, the renowned constitutional scholar and SCOTUS litigator, is entering into a consulting arrangement with Akin Gump.
Akin Gump is developing a Supreme Court practice. Earlier this year, they added young SCOTUS superstar Tom Goldstein to their line-up.
Lateral Moves:
* Securities-enforcement lawyer Chuck Davidow, to Paul Weiss (DC), from WilmerHale.
Another loss for WilmerHale — on top of the previously reported departure of Paul Eckert for the White House Counsel’s Office.
Why are so many partners leaving WilmerHale? A Hillary Clinton administration is still two years away.
* IP lawyer Joseph Gioconda, to DLA Piper (New York), from Kirkland & Ellis.
* Corporate lawyer Eric Lerner, to Kramer Levin, from Katten Muchin Rosenman.
* Tax lawyer Thomas Giegerich, to McDermott Will & Emery (NY), from Dewey Ballantine (about to merge with Orrick to form Dewy Orifice).
New Partners:
* Bryan Cave: Eleven new partners. Names here.
Due to the sheer number of links today, we’ve placed them after the jump.

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Musical Chairs: 10.06.06

By David Lat

musical chairs above the law legal blog above the law legal tabloid above the law legal gossip site.GIFThe second half of today’s legal professional moves.
Lateral Moves:
* Robin Weisman, to NASDAQ, where she will serve as director of government relations,from Akin Gump, where she was counsel.
New Partners:
* Kirkland & Ellis. A boatload of new partners — fifteen of them, in fact.
Here they are, per the New York Law Journal (middle initials omitted, in a shameless bid for Google traffic from their names):

Colin Adams, restructuring; John Armbruster, corporate; William Brashares, corporate; Iskender Catto, energy; Mukang Cho, real estate; Eric Dittmann, intellectual property; Helena Huang, restructuring; Jordan Malz, intellectual property; Andres Mena, corporate; F. Christopher Mizzo, intellectual property; Young Park, intellectual property; William Sorabella, corporate; Kester Spindler, corporate; Michael Stadnick, intellectual property; Christopher Torrente, corporate.

Are these 15 only New York-based lawyers ? And are they equity or non-equity partners? We know that the brilliant litigatrix Susan Engel (nee Susan Kearns) just made non-equity partner in K&E’s Washington office — en route, surely, to equity partnership if she wants it. But Susan’s name doesn’t appear on this list.)
* Kramer Levin Naftalis & Frankel: Land use and environmental litigation lawyer Jeffrey Bruan; litigatrix Jennifer Rochon; corporate lawyer Terrence Shen; Douglas Schneller, who specializes in “claims trading and distressed investing advice” (that sounds cool); and litigator Norman Simon.
Earlier: Musical Chairs: John Martin + Otto Obermaier = $$$