* “Maybe in the future you could let us know when something as definite as that comes [at the last minute.]” It would appear Chief Justice John Roberts has yet again been angered terribly by a lawyer from the Department of Justice over policy changes. [CNN]
* G’day, mate! Perhaps Peter Kalis was telling the truth about his firm, because everything really is great at K&L Gates after last night’s announcement. Partners at the Biglaw firm just approved a merger with Australian firm Middletons. [WSJ Law Blog]
* The commission overseeing the revisions to Chapter 11 of the Bankruptcy Code will focus their energies on labor and benefits. Aww, how nice of them to think of the little people. [Thomson Reuters News & Insight]
* The suit over job stats against Thomas Jefferson School of Law lives to fight another day. The school was “disappointed,” but probably not as disappointed as the students it allegedly duped. [National Law Journal]
* And speaking of disappointment, people are still pissed off about Case Western Law Dean Lawrence Mitchell’s defense of going to law school, aka “a full-throated defense of the indefensible.” [New York Times]
* If you’ve made a mistake on your law school application, fret not, because there’s a way to correct it. (Note: some would say the real mistake was applying in the first place.) [Law Admissions Lowdown / U.S. News]
* Another day, another lawsuit filed against the much-sued and oft-creepy Dov Charney. This time, an ex-store manager alleges the American Apparel CEO choked him out and tried to rub dirt in his face. [Huffington Post]
Law firm mergers seem to be popping up as frequently as, well, problematic emails between married generals and their gal pals. Just a week after SNR Denton’s three-way merger with international firm Salans and Canadian firm Fraser Milner Casgrain, we’re learning of another law firm combination with Canadian and European elements.
When we last checked in with SNR Denton back in May, the firm had just finished wiping its hands of a potential merger with Dewey, right before the failed firm’s LeBoeuf was officially cooked. But from what we know, SNR had the urge to merge with another firm since at least February. The firm’s desire to seduce another suitor has gone unsatisfied for almost a year, but it now appears that SNR Denton may finally have the chance to get its rocks off.
Today, we’ve got news that the firm plans to get down with not one, but two firms. Ooh la la! Which firms is SNR Denton wooing, and when is the merger set to take place, if approved? Let’s check out the details on this potential ménage à trois….
Merge; merge; merge. It’s all we hear about from law firms these days.
But corporations do these things in both directions: Corporations do acquisitions, but they also do divestitures. Corporations merge, but they also de-merge.
If it occasionally makes sense for a corporation to divest itself of a business unit, or to split itself in two, then it surely also makes sense for law firms occasionally to divest themselves of practice groups or split themselves in two. But we almost never hear about those things. (A reader of this column tells me that he googled “law firm” and “de-merger” and found only this five-year-old announcement about a firm in the UK.) (Don’t complain about my shoddy research. That’s more spadework than goes into a typical one of these columns.)
So here’s the idea: You have a global mega-firm that combines a fine M&A practice with a great litigation practice. Just as corporations sometimes think that combined business units would have more value if pulled apart, the law firm decides that everyone would prosper if the litigation firm were spun off from the transactional practice.
Divestiture! It’s not a dirty word in the corporate world; why is it never spoken among law firms?
* Yeah, about that huge bonus we were going to pay our ex-finance director — we realized how silly that was, so we’re not going to do that. Aww, don’t worry, Dewey & LeBoeuf, you’ll have plenty of other chances to look absurd. [Am Law Daily]
* Not only is Samsung suing Apple for patent infringement, but the company is also trying to get a do over by getting Judge Lucy Koh to throw out the original billion-dollar verdict over jury foreman Velvin Hogan’s alleged misconduct. [Bloomberg]
* “Small deals are easier to swallow, easier to integrate.” Regional firms like Carlton Fields and Adams and Reese are gobbling up smaller firms in what seems to be the latest trend in law firm merger mania activity. [Thomson Reuters News & Insight]
* Douglas Arntsen, the former Crowell & Moring associate who had to be extradited from Hong Kong after embezzling $10.7M from clients, pleaded guilty in exchange for a lesser sentence. [New York Law Journal]
* It’s tough to come up with appropriate whistleblower jokes given the background here. We’ll play it straight: Mike McQueary filed a defamation suit against Penn State, and he’s seeking $4M in damages. [ABC News]
* Jose Godinez-Samperio, an undocumented immigrant, is fighting for the ability to practice law in Florida, but the members of the state Supreme Court are literally trying to make it into a “federal case.” [Washington Post]
As we head into the weekend, we’re happy to bring you additional commentary from Peter Kalis, the chairman and global managing partner of K&L Gates. Earlier this week, the colorful Kalis was unanimously reelected to his leadership role by the 60 voting members of the Management Committee.
The delightfully opinionated Kalis recently gave an interview to Am Law Daily, in which he shed additional light on the state of K&L Gates. His remarks weren’t as forceful as the beatdown he administered to the firm’s anonymous detractors last week, but they are interesting….
Much like the similarly named Kelis, his milkshake brings all the boys (and girls) to the yard. Peter Kalis, the chairman and global managing partner of K&L Gates, just won a fifth consecutive term at the helm of the global mega-firm. As noted in the firm’s press release, which we received here at Above the Law, the 60 voting members of the Management Committee supported Kalis unanimously.
Kalis assumed leadership of the firm in 1997, back when it was called Kirkpatrick & Lockhart. On Kalis’s watch, the firm conducted eight mergers, including the combination with Preston Gates & Ellis that resulted in the “K&L Gates” moniker. When Kalis took the helm, Kirkpatrick & Lockhart was a regional firm with six offices, all in the Eastern time zone of the United States. Now K&L Gates boasts almost 2,000 lawyers in 41 offices on four continents.
But growth brings with it growing pains. Let’s discuss those, and get some information about partner capital contributions at the firm….
Now this is how you handle negative rumors about your firm.
As we mentioned last night, in the past week or so we’ve seen media reports of possible trouble at K&L Gates. Stories in Law360 and Crain’s Chicago Business speculated about “an alarming rate” of partner departures and “attorneys increasingly los[ing] faith in the firm’s leadership and strict compensation policies.”
The chairman and global managing partner of K&L Gates, Peter J. Kalis, isn’t taking all this sitting down. Very early this morning, the famously outspoken Kalis sent around a firm-wide memo that powerfully refutes some of the claims made about the firm.
If you’re at all involved in law firm management, you should read it. The Kalis email offers a master class in how to thoroughly respond to negative rumors….
On multiple days over the past week or so, one of the top ten search terms bringing visitors to Above the Law has been K&L Gates. For whatever reason, people seem keenly interested in what’s going on right now at this major international law firm.
(But maybe we shouldn’t read too much into such queries. Also in the top ten search engine terms: “pictures of tacos.”)
So what is going on at K&L Gates? A significant amount of partner attrition, as various news outlets have recently pointed out….
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: email@example.com.
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