Mergers and Acquisitions
Can the Windy City blow NYC out of its traditional top perch in M&A work?
We want to invite you out for a night of drinking and yelling that we’re hosting alongside our bros at Dealbreaker. Join us on Feb 18th in NYC for an open bar and a short panel discussion featuring special guests! Think of it as a boozy safe space to defend your role in the destruction of America.
Legal technology columnist Sean Doherty analyzes LexisNexis’s acquisition of legal analytics provider Lex Machina.
* This just in: Now that the Fifth Circuit has refused to hear the Texas abortion case en banc, it looks like we may see a viable case about a major social issue being brought to Term before SCOTUS after all. [National Law Journal]
* Skadden came out on top of the Bloomberg, Thomson Reuters, and Mergermarket league tables for the highest transactional value of its mergers and acquisitions deals in 2014. Congrats on kicking the competition’s ass. [Am Law Daily]
* Per HBR Consulting, clients are winning the war when it comes to getting legal services on the cheap. Consider this a “call to action for law firms to reconsider the way they do business.” [WSJ Law Blog]
* The Elon University School of Law is completely revamping its academic offerings in order to offer a law degree that can be earned in 2.5 years, and for about $14,000 less. Nice work! [Triad Business Journal]
* Lindsay Lohan’s attorneys filed an amended complaint in her case against Grand Theft Auto’s publisher, this time going to far as to spell their client’s name correctly. [Hollywood, Esq. / Hollywood Reporter]
As the Supreme Court begins its 2014-15 term this month, it will be considering a number of securities cases, including the Omnicare case, which is scheduled for oral argument on November 3rd, and three other cases in which petitions for certiorari are currently pending before the Court. As discussed below, these cases raise significant questions concerning the standards for claims under Section 11 of the Securities Act of 1933, prosecution of insider trading, and the scope of disgorgement penalties in an SEC enforcement action. We also discuss IndyMac, another securities case that had been scheduled to be heard as the first case of the new term on October 6th, but was abruptly dismissed by the Court earlier this week.
* Justice Scalia spoke at CU-Boulder last night. For his sake, we certainly hope he didn’t speak about any issues that might someday appear before SCOTUS, lest he be asked to recuse. [Boulder Daily Camera via How Appealing]
* Another one bites the dust over at Main Justice: David O’Neil, the head of the criminal division, is stepping down in the wake of the BNP Paribas case, and will likely have many white-shoe law firm suitors. [DealBook / New York Times]
* Fox Rothschild picked up a 18-lawyer boutique firm in Texas, which will serve as the home of its first outpost in the Lone Star State. Energy law, surprisingly, wasn’t the driving factor. [Legal Intelligencer]
* “I have a heart and I have two kids.” That’s a pretty damn good reason for Biglaw attorneys to take a break from their corporate billable hours to represent undocumented children pro bono. [WSJ Law Blog]
* Scott Greenfield reviews Lat’s forthcoming novel, Supreme Ambitions (affiliate link). Of course, in SHG style, it contains a spoiler. Try to skip that clearly marked paragraph. [Simple Justice]
* Solicitor General Don Verrilli may be a frontrunner to replace Eric Holder as attorney general, but the competition seems to be stiff. Kamala Harris, anyone? [USA Today]
* FBI Director James Comey is annoyed by Apple and Google marketing their encryption prowess for privacy’s sake — it’ll “allow people to place themselves beyond the law.” [WSJ Law Blog]
* White & Case just hopped aboard the onshore outsourcing train with its announcement that it would open a services center in Tampa, Florida. The move will create about 100 jobs, but we’d love to know how many it’s negating. [Tampa Bay Times]
* Slater & Gordon, the world’s first publicly traded law firm, has been on an “acquisition spree” in England. Earlier this month, it picked up patent practice, and now it’s in talks with a litigation shop. [Am Law Daily]
* “Law school is a major gamble,” and people are more informed, but that somehow isn’t stopping people from applying. This is a great article to read if you’re still considering going all in. [New York Observer]
Transactional lawyers: are the robots coming for your jobs?
7th Circuit, Andrew Cuomo, Benchslaps, Biglaw, Blogging, Erwin Chemerinsky, Fast Food, Gay, Gay Marriage, In-House Counsel, Law Professors, Mergers and Acquisitions, Morning Docket, New York Times, Police, Politics, Richard Posner, SCOTUS, Sports, Supreme Court, Tim Wu
* Judge Posner dished out a whole lot of benchslaps at yesterday’s Seventh Circuit arguments over Indiana and Wisconsin’s bans on same-sex marriage. [BuzzFeed]
* Major U.S. and Canadian law firms chow down on Burger King’s whopper of a deal with Tim Hortons. [Am Law Daily]
* A recent Delaware court ruling on attorney-client privilege might allow in-house lawyers to speak more freely about wrongdoing at their companies, according to Professor Steven Davidoff Solomon. [DealBook / New York Times]
* The corruption trial of former Virginia governor continues; yesterday Bob McDonnell’s sister took the stand. [Washington Post]
* A favorable evidentiary ruling for Aaron Hernandez. [Fox Sports]
* And good news for Zephyr Teachout and Tim Wu, the two law professors running for governor and lieutenant governor of New York: the Times dissed their opponent, Andrew Cuomo, with a non-endorsement. [New York Times]
* I recently spoke with one of my cousins Joao Atienza of the Cebu Sun Star, about Above the Law and the world of legal blogging. [Cebu Sun Star]
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* Utah appealed its same-sex marriage case to the Supreme Court, making it the first state whose law was smacked down by an appellate court to do so. Let the countdown begin. [National Law Journal]
* In the ruling that saved Alabama’s abortion clinics, Judge Myron Thompson likened the right to have an abortion to the right to bear arms. We can think of a few people who would take issue with that. [CNN]
* In case you’ve been wondering why tax inversions are hot right now, you can blame it all on some bicycling tax and M&A lawyers from Skadden — call them bikedudes at law, if you will. [WSJ Law Blog]
* Law schools tout the fact that their graduates are finding jobs in “J.D. Advantage” positions. Meanwhile, it remains unclear how much of an advantage a law degree actually offers in these jobs. [Am Law Daily]
* In a lawsuit peppered with crazy allegations, a law prof at Florida A&M claims in a gender discrimination complaint that male professors are “paid considerably more” than female professors. [Tampa Tribune]
Did he make a cheesy webpage about himself explaining how he’s going to be president? Oh, but he did.
Somebody get this guy some Advil.
* Justice Scalia criticized law schools. Here come the butthurt law schools. [Legal Times]
* Cass Sunstein on Rand Paul’s real father — Richard Epstein. [New Republic via PrawfsBlawg]
* Irony alert: Rick Santorum endorsed the judge who just legalized gay marriage in Pennsylvania. [Slate]
* What do you know? Donald Sterling is a dick. [Los Angeles Times]
* A follow-up on a previous item: does this look like a law student kneed so hard he lost a testicle? [Barstool Sports]
* In a development that should shock no one, it turns out the Chinese hackers may have been turning their attention to infiltrating law firms “which hold valuable intellectual property for their clients but often lack the security defenses of a larger corporation.” [Bits / New York Times]
* Model suing hair salon for $1.5 million for ruining her career. That sounds funny, but the story is actually kind of horrifying. [New York Post]
* Are we looking at an M&A boom in 2014? Frank Aquila of S&C thinks so. After the jump… [Mimesis Law]
* If you want to become a Supreme Court justice, you can start by attending one of these three schools. The schools that produced the most justices are Harvard Law, Yale Law, and Columbia Law. [TIME]
* Many of the transactional practice areas that took a bruising during the height of the recession, like corporate work, M&A, real estate, and tax, seem to be coming back. Sorry litigators. [WSJ Law Blog]
* Following Oklahoma’s botched lethal injection, another death row inmate has been given a new lease on life — for the next six months — while an investigation is being carried out. [Associated Press]
* Members of the defense team for accused Boston Marathon bomber Dzhokhar Tsarnaev not only want their client’s comments after arrest stricken from the record, but they also want the death penalty off the table. Good luck. [CNN]
* A lawyer was arrested after a school board meeting because he complained for too long about a graphic sex scene in a book his daughter was assigned to read for school. That’s typical. [New York Daily News]