Law Firm Mergers
Instead of endless mergers, would it be wise for law firms to consider divestitures? Thoughts from in-house columnist Mark Herrmann.
* 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]
Some lawyers are best-served beavering away in the firm where they have worked since law school. For most legal careers, though, there come inflection points where a change of job can open a whole new world of opportunity. Recognizing whether your career has reached such an inflection point, and then knowing whom to trust to help […]
Peter Kalis, who was just reinstalled as chairman and global managing partner of K&L Gates, sheds further light on the state of the firm.
After their merger, McKenna Long is cutting loose some Luce Forward lawyers. How many, in which offices?
It seems that Peter Kalis’s hold on power at K&L Gates remains strong. Meanwhile, here’s some information about partner capital contributions at the firm.
Peter Kalis, chairman and global managing partner of K&L Gates, issues a forceful response to speculation in the media about the state of the firm.
American Bar Association / ABA, Bankruptcy, Biglaw, Boutique Law Firms, California, Deaths, Federal Judges, Food, Gay, Gay Marriage, Intellectual Property, Law Firm Mergers, Law Firm Names, Law Schools, Legal Ethics, Morning Docket, Movies, Partner Issues, Ruth Bader Ginsburg, SCOTUS, Supreme Court, YouTube
* Are you ready for some Supreme gossip? In remarks delivered at Colorado Law, Supreme Court Justice Ruth Bader Ginsburg predicted that the Defense of Marriage Act would be argued “toward the end of the current term.” [CBS News]
* Dewey’s version of trying to curry favor for the proposed $72M partner settlement? Filing a deposition transcript noting that others could’ve also been blamed for D&L’s downfall, but weren’t due to time constraints. Gee, thanks. [Am Law Daily]
* Novak Druce + Quigg and Connolly Bove Lodge & Hutz will merge to form Novak Druce Connolly Bove & Quigg, the 7th largest IP firm in the U.S. Guess seven name partners was a bit much. [Delaware Law Weekly]
* Michael McShane was nominated by President Obama to fill a judgeship in Oregon. If confirmed, he’d be one of the few openly gay judges on the federal bench, which, of course, would be absolutely fabulous. [Oregonian]
* The Institute for Inclusion in the Legal Profession wants the ABA to amend the Model Rules of Professional Conduct to include a duty to promote diversity. Because we clearly need a rule on that. [National Law Journal]
* Cindy Garcia, an actress from “Innocence of Muslims” is suing, claiming that she was duped into the role under false pretenses. She wants the film removed from YouTube. Everyone else does, too, lady. [Bloomberg]
* A judge refused to issue an injunction against the California ban on foie gras, instead allowing a suit on the same topic to move forward. Oh mon dieu, judge, think of all the poor Francophiles! [San Francisco Chronicle]
* Joshua Morse III, former dean of Mississippi Law who defied segregation, RIP. [New York Times]
* Apparently spring bonuses don’t make the Biglaw world go ’round after all. The annual Am Law midlevel survey is out, and satisfaction levels are up across the board. Maybe they’re happy to still be employed. [American Lawyer]
* When Dewey get to retire this used up, old D&L pun? Probably around the same time as that Howrey joke — never. Oh, and the firm asked a bankruptcy judge to approve its $70M partner “clawback” plan. [WSJ Law Blog]
* Oh mon dieu, it’s time for some law firm merger mania! DLA Piper, the second-largest Biglaw behemoth, proposed to French firm Frieh Bouhenic, and of course, the corporate boutique said “oui.” [Legal Week]
* Judicial efficiency: Judge Robert Hinkle says he’ll block Florida’s regulations on voter registration groups just as soon as an appeals court boots the state’s arguments. [Bloomberg]
* Judge Kenneth Lester Jr. will step down as judge in the George Zimmerman case after using “disparaging” language in a bail order. Zimmerman’s probably hoping that the third judge will be the charm for him. [CNN]
* Kim Kardashian settled her suit against The Gap over the company’s use of a look-alike actress in an Old Navy commercial. Sigh. She’ll keep getting paid, no matter what we do. [Hollywood, Esq. / Hollywood Reporter]
In this episode of “In-House Legal”, Randy Milch interviews Louise Parent about her ambitious path to general counsel of AMEX, how she successfully dealt with AMEX’s legal battle with Visa and Mastercard in the U.S., European, and Latin American markets.
Two powerful Philadelphia legal groups have joined forces…
* You don’t necessarily have to agree with what Chief Justice John Roberts did with respect to his health care opinion, but you’ve got to admit that it was an act of statesmanship that will forever define his legacy on the Court. [New York Times]
* CNN, one of the world’s most reliable news networks, reports that no many legal scholars were surprised unsurprised by yesterday’s Supreme Court decision to strike down uphold the Individual Broccoli Mandate Affordable Care Act. [CNN]
* Word to the wise: don’t get cocky over in the Eighth Circuit, because apparently boosting the length of a prison term based on whether or not a defendant is smiling at sentencing is not considered an abuse of discretion. [National Law Journal]
* Dewey know why the number of law firm mergers and acquisitions in the United States dropped during the second quarter? Truth be told, they’re all scared, because “[n]obody wants to wind up with a lemon.” [Thomson Reuters News & Insight]
* George Zimmerman, the man charged in Trayvon Martin’s death, is returning to court today to try to get himself released on bond… again. Let’s give him some credit, because he sure is tenacious. [ABC News]
* Listen, it’s not an easy thing to perform an exorcism these days. Sometimes a priest really just needs to kiss and caress the demon out of your body — a sexorcism, if you will. Nothing to sue over, nothing at all. [MSNBC]
M&A star Mort Pierce is decamping from Dewey. Where’s he heading next?
Bankruptcy, Biglaw, Crime, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, Kimba Wood, Law Firm Mergers, Law Firm Names, LeBoeuf Lamb, Money, Musical Chairs, Partner Issues, Partner Profits, White-Collar Crime
How much blame do former chairman Steven Davis and executive director Steve DiCarmine deserve for the Dewey & LeBoeuf debacle?
An internal memo urges partners at Dewey & LeBoeuf to seek “alternative opportunities.” Yikes….
Aside from a report that some partners want criminal charges brought against chairman Steven H. Davis, as noted in Morning Docket, things have been relatively quiet on the Dewey front over the past day or two. Perhaps too quiet, for some people….