Recent Headlines from Above the Law
Bonus reports from several different law firms — mostly good news.
What will the controlling bonus scale be now that Davis Polk has beaten the market?
What’s going on at Fried Frank, which has seen significant lateral losses lately?
* Because it’s been such a long time since the NFL has had a scandal, Cowboys owner Jerry Jones is accused of sexual assault in a new suit. The Cowboys claim the suit is nothing but a money grab. No one knows a money grab like a franchise owner milking a new stadium partially financed by taxpayers. [USAToday]
* Dean Frank Wu explains why Hastings will survive the end of law schools. [SF Weekly]
* A pair of IP litigators, James W. Dabney and Stephen S. Rabinowitz, have jumped from Fried Frank to Hughes Hubbard. Will others be following Dabney & Rabinowitz out of Fried Frank? [Hughes Hubbard]
* “Lawyer’s ‘Torture Porn’ Past Pops Up in Pa. Governor’s Race.” OK, let’s see what you’ve got here. [Greedy Associates / FindLaw]
* An interesting breakdown of the legal scholars with the widest network of co-authors. Think of these as the most promiscuous scholars around. Actually, no. Don’t think that. [Ryan Whalen]
* Etsy sides with the USPTO and bans sales of anything branded “Redskins” on its platform. I’m not sure how smart this is since the economic teeth of the USPTO decision was to allow sites like Etsy to sell massive quantities of otherwise trademark-infringing stuff until Washington relented and opted for a new trademark-protectable name. [Etsy]
* Don’t throw peanut butter in my neighborhood (though I don’t understand the blotter… there’s no Bodega at that location). [Legal Juice]
* Lest you think law school is reasonably priced: “New IBR and PSLF provide benefits large enough that high earnings still result in nearly $100,000 in loan forgiveness for typical levels of debt for law school graduates. A lawyer earning at the 50th percentile with that debt level stands to have $147,282 forgiven, which is more than he borrowed…” [New America Education Policy Program]
* Keeping in touch with your inner child to relate to witnesses as humans. [Katz Justice]
* Closing out this football-heavy NS, friend of the blog Mitchell Epner discusses why Roger Goodell won’t (and shouldn’t) survive the fallout of the Ray Rice scandal. Check out the video after the jump… [CNBC]
* Valerie Ford Jacob, leader of Fried Frank since 2003, is stepping down from her post prior to her official 2015 departure date. At least she’s leaving on a high note, with the firm’s highest profits per partner ever. Yay. [WSJ Law Blog (sub. req.)]
* Ralph Lerner, the ex-Sidley Austin partner who billed extra car charges to his clients, claims he went into work on weekends to do work for free to make up for it. Aww, how nice of him. [Am Law Daily]
* When we first covered this in January, it was just a rumor, but now it’s officially set in stone. The deed is done: Buchanan Ingersoll is picking up Tampa firm Fowler White Boggs. [Pittsburgh Business Times]
* Many New York law schools moved in the recent U.S. News rankings, but not necessarily in the right direction. Four out of 15 schools moved up; the rest stayed the same or slipped. [New York Law Journal]
* Would you like damages with that? McDonald’s corporate and its franchisees are facing lawsuits filed by employees over their allegedly “stolen wages.” Class actions have been filed in three states. [Bloomberg]
Every time an associate says, “I don’t believe in higher bonuses,” there’s a would-be Boies-level bonus someplace that falls down dead.
According to the ATL Insider Survey, which practice areas and law firms offer the best (and the worst) hours?
* It’s just business as usual: Amid accusations of liberal court-packing, D.C. Circuit nominee Nina Pillard faced questions on abortion and religion during her testimony before the Senate Judiciary Committee. [USA Today]
* Biglaw isn’t as dead as we’ve been told and made to believe. Some of the largest firms are actually doing quite well, says American Lawyer’s editor-in-chief, who’d like her job to retain some meaning for now. [Am Law Daily]
* Fried Frank knew that it’d take a banker to pull the firm from its monetary funk, so it picked up David Greenwald, deputy general counsel of Goldman Sachs, to act as co-chair through 2015. [New York Law Journal]
* With the change in SEC policy, from allowing companies to use neither-admit-nor-deny language, to forcing them to admit guilt in “egregious” cases, lawyers may soon be very busy. [Corporate Counsel]
* Raj Rajaratnam is a firm believer in the “three strikes and you’re out” theory of law. A month after the Second Circuit affirmed his insider trading conviction, he’s asking for a rehearing en banc. [Bloomberg]