Recent Headlines from Above the Law
This law firm is a great place to work, but associates would appreciate a little extra cash.
* In the wake of fired CEO Martin Shkreli’s arrest for securities fraud, KaloBios Pharmaceuticals has filed for Chapter 11 bankruptcy. The company will be repped by Hogan Lovells (and likely won’t be charged 4,000 percent more than it should be). [Reuters]
* “Not all of it is law at its grandest but all of it is the practice of law.” Yet another contract attorney’s suit for overtime pay has bitten the dust with a recent dismissal. This time, Quinn Emanuel was the Biglaw firm victorious in keeping doc reviewers downtrodden. [WSJ Law Blog]
* Since Dechert decided to up the ante on first-year associate salaries, other Philadelphia Biglaw firms have responded in kind. Drinker Biddle has matched, while Pepper Hamilton and Cozen O’Connor are following close behind. [Philadelphia Inquirer]
* Facebook needs a “dislike” button: The social media titan’s suit against DLA Piper and Milberg for their defense of alleged con man Paul Ceglia in a fraudulent breach of contract case versus Zuckerberg’s first baby was dismissed. [Buffalo Business First]
* From “weird to wildly costly,” check out some of the craziest malpractice cases that were filed against Biglaw firms during the course of 2015. The McDermott Will & Emery elder abuse case here is particularly creative. [Big Law Business / Bloomberg BNA]
One major firm changes its bonus policy — for the better.
His firm describes the 26-year-old victim as “a talented lawyer, extremely well liked, and a wonderful personality in the office.”
* If you’re unsatisfied with your current income-based loan repayment plan, wait until you see what the government has in store for you with its Revised Pay As You Earn plan. Here’s a hint: more pain, more tears, and more anger. [Am Law Daily]
* If you haven’t heard, SABMiller will likely be getting taken over by Anheuser-Busch InBev NV in a “mega-beer merger.” Sadly for Hogan Lovells, SABMiller tossed the firm out like a skunked beer in favor of representation by Linklaters. [WSJ Law Blog]
* Rather than poaching lawyers from other local firms, Jones Day is trying to grow its Detroit office by calling home Michigan attorneys who expatriated from the state. No offense to the firm, but these people probably left for a reason. [Crain’s Detroit Business]
* Slowly but surely, results from the July 2015 administration of the bar exam are being released. Duke Law did best in North Carolina, where the overall combined pass rate for all takers was 69.4 percent (down from 75 percent last year). [Triangle Business Journal]
* With hours to spare, Richard Glossip — a man you may know from the Glossip v. Gross case that was before SCOTUS — was able to secure a last minute stay of execution. An Oklahoma appeals court has given him two more weeks to live. [New York Times]
Will this lawyer be able to win the $1 million grand prize?
* Here’s a very important lesson for all of the lawyers reading this: thinking about work while you’re on the way to work doesn’t mean that you’re actually working. This novel argument failed miserably for a Biglaw partner trying to get out of a huge insurance claim. [WSJ Law Blog]
* Justice Scalia isn’t very fond of the media’s coverage of SCOTUS: “They don’t like conservatives on the court, or anywhere else for that matter. They do a lousy job. You can’t expect them to do a good job.” Wow, tell us how you really feel. [Arkansas Online]
* “Enough! Enough! Call Loretta Lynch for a vote. Get her confirmed. Put her in place. Let her do her job.” After months of watching his pick for attorney general wait around thanks to political gridlock, President Obama has finally had it with this sh*t. [New York Times]
* Good news, associates! If you leave your law firm job for a Supreme Court clerkship, you’ll likely still be able to receive that gigantic SCOTUS hiring bonus — to the tune of $300,000 plus! — if you return to the firm you left when it’s over. [National Law Journal]
* “Hard questions have to be asked at law schools whose modest reputations and forgiving admission standards do not ensure their graduates gainful employment.” High LSAT scores are down, bar failure is up, and law schools still say it’s not their fault. [Bloomberg]
What surprised Neal Katyal during his voyage into the world of television?