Recent Headlines from Above the Law
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* 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]
* Everything’s bigger in Texas, including the lateral raids of lawyers from competing law firms. Wilson Elser just poached 11 litigators from Lewis Brisbois, including the firm’s regional managing partner, who now holds the same title at his new firm. Ride ’em, cowboy! [Houston Business Journal]
* “I think almost 50 years of paying for those crimes is enough.” Winston Moseley, the man convicted of killing Kitty Genovese in an infamous case that came to define the meaning of bystander apathy, was recently denied parole for the eighteenth time. [AP]
* We love an underdog story: On the topic of lateral moves, it seems like Greenberg Traurig has a habit of “cherry picking” top talent from higher-ranked law firms like Davis Polk, White & Case, and McDermott Will & Emery. [Big Law Business / Bloomberg BNA]
* When it comes to the Securities and Exchange Commission’s in-house judges, Chairman Mary Jo White says that while its court system could be “modernize[d],” it’s still a fair process — for the SEC. The house usually wins in these proceedings. [WSJ Law Blog]
* How old is too old to be a judge? Pennsylvania voters are going to be asked this question next year when a referendum on a proposed amendment to the state’s constitution to raise the judicial retirement age from 70 to 75 hits the ballot box. [Philadelphia Inquirer]
* With the Dewey trial wrapping up, a look back at the history of firm honchos earning jail time. [Law360]
* Slick video explaining the everything wrong the way law schools market themselves to students. [Business Insider]
* Remember when Sony got hacked? It unveiled some fun stuff, like how the new movie Concussion changed its plot around to avoid offending the NFL. [ABA Journal]
* As college football prepares to kick off tonight, Baylor has hired Pepper Hamilton to look into how the school handles sexual violence allegations in light of the rape conviction of former player Sam Ukwuachu. [Dallas Morning News]
* Here’s one of the dumbest arguments ever: Larry Lessig is liberal. About 47 years ago, unchecked campaign spending marginally helped a liberal (he did ultimately lose the nomination… and Nixon became president). Therefore, Larry Lessig shouldn’t be against money in politics. Signed, the former Executive Director of the Club for Growth. [The Daily Caller]
* Meanwhile, the GOP runs into the downside of Citizens United: arming a terrible candidate with so much money he won’t drop out. [Slate]
Scary story about a lawyer’s behavior results in immediate suspension.
* McDermott Will & Emery poached six partners from K&L Gates as part of its Dallas office “re-launch.” Their poor paralegals: Right now, the lawyers are working in temporary offices, and don’t have access to land lines. [WSJ Law Blog]
* Dean Paul Mahoney of UVA Law announced he’ll be stepping down from his position on June 30, 2016, after eight years of dedicated service to the school. Law students, please lower your collars to a half-pop in light of this news. [UVA Today]
* Dewey think these defendants are full of themselves? The former leaders of this failed firm had insane and enviable compensation packages, but that doesn’t mean their multimillion-dollar guarantees weren’t justified — or even deserved. [Am Law Daily]
* Experts speculate that the Justice Department’s case against FIFA could strengthen its global power, but of course, that will hinge on whether Loretta Lynch can get RICO charges to stick for conduct that took place overseas. [DealBook / New York Times]
* After months of going back and forth on their urge to merge, Hiscock & Barclay completed its combination with Damon Morey. The new 275-lawyer firm will be known as Barclay Damon, and could possibly become a member of the Am Law 200. [Syracuse.com]
* Legal marijuana business need lawyers and bankers, but those willing to advise them are few and far between. If you want to join the green rush and learn how to help these people comply with the law, come to our marijuana law reception later this month. [Forbes]
A prominent law firm gets dragged into a rich family’s feud.
So what adjustments did the firm make to its base salary scale?