Recent Headlines from Above the Law
This firm eliminated billable-hours requirements from its bonus eligibility standards, and associates seem happy with their bonuses.
* Any day Cadwalader can avoid damages in a huge, multimillion-dollar malpractice case is a great day. Yesterday, the New York Court of Appeals dismissed a never-ending suit filed against the firm by a former client over a failed commercial mortgage-backed securitization. Phew! [Big Law Business / Bloomberg BNA]
* Say hello to Northwestern Pritzker Law: In case you missed it, Northwestern Law recently received a $100 million donation, the largest single gift ever made to a law school. For that much money, you’re damn right the school has a new name. [Chicago Tribune]
* This must’ve been a huge blow to his ego… U.S. Attorney Preet Bharara had to dismiss insider trading charges against seven defendants thanks to a Second Circuit decision that made it harder to prosecute certain financial crimes. [DealBook / New York Times]
* Charleston Law fired back against professors who sued the school by saying in its answer it wouldn’t be in such dire straits if they hadn’t “sabotaged the transfer of the school to InfiLaw.” Take that back, they did a good deed. [Charleston Regional Business Journal]
* “Sorry, not sorry, narcs,” says Judge Breyer. Earlier this week, a California judge informed the DEA that it needed to stop harshing medical marijuana patients’ mellows by shutting down medical pot dispensaries that were operating within state laws. [TIME]
Ouch! That one had to have hurt.
* And meet the two legal heavyweights who will be arguing the case before SCOTUS. [Politico via How Appealing]
* Meanwhile, another Supreme Court has put a stop to same-sex marriage down in Alabama — for now. [Buzzfeed]
* General David Petraeus reaches a plea deal, requiring him to plead guilty to a misdemeanor and pay a fine (but no prison sentence). [Washington Post]
* It’s not as sexy as Obamacare or marriage equality, but the collection of state sales tax on out-of-state purchases made online is a pretty important issue — and Justice Kennedy wants SCOTUS to revisit it. [How Appealing (linkwrap)]
* A jury of eight men and 10 women will start hearing arguments today in the trial of Dzhokhar Tsarnaev, defendant in the Boston Marathon bombing. [How Appealing (linkwrap)]
* Legal ethics guru Monroe Freedman, RIP. [ABA Journal]
It’s been a couple of months now. You’d think Cadwalader would make a move.
* When we first reported on this former law school dean’s arrest for prostitution, we weren’t sure if he was the alleged john. Now we know: SMU Law’s John Attanasio allegedly offered to pay an undercover officer $100 for “specific sexual acts.” [Dallas Morning News]
* It seems that a lawyer in Nebraska lost his “special pen” at the courthouse, and he’d really like it to be returned to him. It’s not just any pen — it’s a $500 Montblanc Meisterstück. Help this man get his prestigious pen back. [Omaha World-Herald]
* The early numbers on Cadwalader’s ranking in the Am Law 100 seems to indicate that would-be chair James Woolery got the hell out while the getting was still good. The firm’s profits per partner dropped by 15.3 percent in 2014. Ouch. [Am Law Daily]
* “Being in the law school business looked like a good idea. Those days are over.” Enrollment continues to decline at law schools across the country, and in Virginia, class sizes are about 20 percent smaller than they were in 2011. [Roanoke Times]
* When it comes to the recent murder-suicide of two Tulane Law students, “[p]eople are really surprised and baffled about what happened” because they say there were no warning signs. If you’re depressed, please seek help. [New Orleans Advocate]
* Given the fact that children’s vaccinations have become a topic presidential candidates are debating, you should know that almost half the states allow anti-vaxxer parents to opt-out. Thanks for the measles, everyone! [WSJ Law Blog]