Mergers and Acquisitions

A fireable offense in the UK?

* Our thoughts and prayers go out to the people of Oklahoma. [CNN]

* The IRS and the Treasury Department better watch out, because it seems that the “next logical step” for the tea party victims of heightened scrutiny leads right up the courthouse stairs. [ABC News]

* #Whatshouldwecallme after advising on the $1.1 billion Yahoo/Tumblr deal? Kind of a big deal. The Biglaw firms doing the underlying legal work are Simpson Thatcher and Gunderson Dettmer. [Am Law Daily]

* The Mirena MDL judge thinks female attorneys should be on the all-male executive committee. If this is “strategic gender placement,” the strategy is to look bad publicly. [Thomson Reuters News & Insight]

* The Travers Smith trainee who was fired for getting pregnant is due in court this June to find out what type of compensation she’ll receive for being discriminated against by the firm. You go girl! [Daily Mail]

* Wherein the parents of a 0L who’s got doubts about her employment prospects are counseled that she can “work not just in law.” ::facepalm:: [Law Admissions Lowdown / U.S. News & World Report]

* There’s trouble in paradise: lawyers in the Jodi Arias case unsuccessfully attempted to get a mistrial and withdraw from representation — for the second time — during its punishment phase. [Fox News]

* With the capture of Boston bombing suspect Dzhokhar Tsarnaev, many legal questions are being asked, like if he’ll be Mirandized, where he’ll be tried, and if he’ll be considered an enemy combatant. [New York Times]

* Thanks for kicking this keg, Mr. Baer: the Department of Justice and Anheuser-Busch InBev have settled their antitrust differences with respect to beer brewery’s planned acquisition of Grupo Modelo. [Legal Times]

* Which firm has a “generous tuition reimbursement” program? And by “generous,” we mean 100% of law school tuition, which is awesome. We may have more on this later today. [Capital Business / Washington Post]

* Stan Chesley, the “master of disaster,” is retiring — not because he wants to, but because he’s disbarred in Kentucky and surrendered his Ohio license before the state could take it from him. [WSJ Law Blog (sub. req.)]

* California may soon follow in New York’s footsteps when it comes a pro bono mandate before bar admission, but the New Jersey Bar Association has an active hit out on the idea. [National Law Journal]

* In an effort to avoid a trial that would’ve lasted longer than their sham marriage did in the first place, fauxlebrity Kim Kardashian and NBA player Kris Humphries settled their divorce last week. [Reuters]

* Morris Kramer, an M&A pioneer and part of Skadden’s “Fab Four,” RIP. [DealBook / New York Times]

I asked, and once again the readership delivered. I thought it would be interesting to hear from former Biglaw associates who had been passed over for partnership, and I was happy to receive some thoughtful responses.

As you will see below, and as I discussed in my columns relating to making partner, there are very powerful personal forces at work in these situations. As much as we can learn from our own disappointments, so can we learn from the experiences of others, especially those who have forged ahead despite a setback.

Biglaw can be a brutal business. We need to pause and reflect on the human toll that working in this environment can take….

double red triangle arrows Continue reading “Buying In: Passed Over for Partner (Interview No. 1)”


* Oh mon dieu, Justice Breyer was inducted as one of just 12 foreign members of France’s Académie des Sciences Morales et Politiques. C’est très chouette pour un Américain, non? [New York Times]

* Man, for a four-seeded firm that got knocked out of our March Madness competition after the Sweet Sixteen, Davis Polk is looking great in 2013’s first quarter as far as legal advising in M&A deals goes. [Am Law Daily]

* Brown Rudnick picked up a California boutique, and it’ll be doubled in size through lateral hiring. No layoffs are currently expected, but no one really advertises that as a merger selling point. [National Law Journal]

* The New York Times: bringing you last month’s news, today! South Dakota is offering a subsidy for law school tuition to keep lawyers in the state. Here’s our post from two weeks ago. [New York Times]

* Pace Law School’s “low bono” residency program was praised by New York’s Chief Judge Jonathan Lippman, but if you’ve got other job offers, Dear Lord, take one of them. [New York Law Journal]

* AIG wants to prevent Hank Greenberg from suing in its name, probably because it’d prefer not to be known as “the poster company for corporate ingratitude and chutzpah.” [DealBook / New York Times]

* “[D]o I cover this really important story and maybe go to jail?” That’s the choice Jana Winter is facing after reporting on James Holmes’s massacre notebook and refusing to reveal her sources. [CNN]

* OMG! Get ready to have a lawgasm, because the Supreme Court is going to be releasing same-day audio recordings from oral arguments during next week’s gay marriage cases: Proposition 8 and the Defense of Marriage Act. [National Law Journal]

* “Way to go, Justice.” Justices Ruth Bader Ginsburg and Elena Kagan work out with a personal trainer who’s got a client list that would make Article III Groupie swoon — and he just so happens to be a records manager at D.C.’s federal court. [Washington Post]

* Debevoise & Plimpton’s littlest litigatrix, Mary Jo White, sailed her way through the Senate Banking Committee with a vote of 21-to-1. Her nomination to lead the SEC will now head to the full Senate. [DealBook / New York Times]

* “Our 2012 numbers aren’t as good as we would have liked.” Gee, ya think? From attorney headcount to gross revenue to profits per partner, just about everything was down in 2012 for Fried Frank. [Am Law Daily]

* Eckert Seamans will be merging with Sterns & Weinroth, adding 17 partners and seven associates to its ranks. Someone please come up with the semen joke so I don’t have to. [Philadelphia Business Journal]

* As if Inside the Law School Scam weren’t candid enough, Professor Paul Campos sat down for an interview to discuss how to make an informed decision when considering law school. [U.S. News & World Report]

‘Best court-ordered pajama party ever! Yay!’

* Our own Elie Mystal isn’t the only one who’s capable of fanning the flames of race baiting — it seems that Supreme Court justices can do it, too! We’ll probably have more on Justice Sonia Sotomayor’s benchslap later today. [The Two-Way / NPR]

* Patience is obviously one of this judge’s virtues, because this took a looooong time. After waiting more than a year for people to put their petty political pandering aside, the Senate confirmed Robert Bacharach to the Tenth Circuit. [Blog of Legal Times]

* Mary Jo White, the nominee to lead the SEC, will probably face her confirmation hearing in March. Her legal wranglings at Debevoise may be of interest to some, but really, who cares? She’s so cute and tiny! [Reuters]

* Mayer Brown and the terrible, horrible, no good, very bad year: gross revenue is up overall at most Biglaw firms, but not this one. In 2012, Mayer Brown’s revenue dipped 3.7 percent for a six-year low. [Am Law Daily]

* Kirkland & Ellis, now the fifth-largest Biglaw firm in the nation, is leading the market in terms of top dollar merger-and-acquisition deals. Now, if only the firm could get some bananas. [Crain's Chicago Business]

* Orderly liquidation authority may be a legitimate exercise of power under the Bankruptcy Clause, but as far as these states are concerned, it’s just another reason to hate the Dodd-Frank Act. [DealBook / New York Times]

* Remember Peggy Ableman, the judge who ordered lawyers to attend a course on remedial civility in their “jammies”? She’s now at McCarter & English, so mind your manners. [Thomson Reuters News & Insight]

* An “astronomically stupid” legal loophole? Unpossible! Gun trusts are seeing the limelight because Chris Dorner claims he used one to purchase his paraphernalia without a background check. [New York Times]

* The horror! The horror! Sacrilege! Constitutional law nerds nationwide will weep at the very thought of someone suggesting that our country’s governing document be amended to abolish life tenure for Supreme Court justices. [Los Angeles Times]

* Quite frankly, it’s pretty amazing how quickly the preclearance section of the Voting Rights Act went from being seen by states as something that wasn’t “onerous” to being “arbitrary and burdensome.” That’s politics for you. [It's All Politics / NPR]

* Jim Woolery, an M&A superstar formerly of J.P. Morgan, has made the jump to Cadwalader after only two years at the bank. Upgrade or downgrade from his Cravath partnership? [Wall Street Journal (sub. req.)]

* Some law professors stop teaching classes to tend to their divorce proceedings, but other law professors teach classes from their hospital beds so their students aren’t thrown to the wolves. [Tex Parte / Texas Lawyer]

* It you want to be employed, make damn sure you nail your interview because “[t]he stakes are higher than ever” — fewer than 13 percent of permanent law jobs were obtained from OCI in 2011. [National Law Journal]

* Greenlight Capital’s case against Apple might have been perceived as a “silly sideshow” by some, but it looks like Judge Richard Sullivan of the S.D.N.Y. purchased front row tickets. [DealBook / New York Times]

* Speaking of silly sideshows, the DOJ recently joined the fray with Floyd Landis and his False Claims Act suit against Lance Armstrong. Perhaps it’s time for the disgraced biker to take his ball and go home. [Bloomberg]

* Alan Westin, privacy law scholar and professor emeritus of public law at Columbia, RIP. [New York Times]

Sorry, no free entry, not even for prosecutors.

* Even though Obama wants to “make sure that [he's] not interjecting [himself] too much into this process,” the DOJ may still suggest that the Supreme Court overturn Proposition 8, California’s ban on gay marriage. [Associated Press]

* Anheuser-Busch InBev and the Department of Justice are cracking open a couple of cold ones to settle their differences over antitrust concerns with regard to the company’s planned purchase of Grupo Modelo. [DealBook / New York Times]

* It looks like Steve DiCarmine is being forced to take a break from his rigorous class schedule at Parsons to testify at a Dewey bankruptcy hearing next week. He’ll be happy to hear orange is in this spring. [Am Law Daily]

* Represented by Steptoe & Johnson, Jesse Jackson Jr. pleaded guilty to misusing $750,000 of his campaign funds for personal use. Most interesting purchase: Michael Jackson memorabilia. [Blog of Legal Times]

* When it comes to recruiting new talent, the ability to maintain a “collegial culture” is apparently a selling point for midsize law firms. And here we thought douchebaggery was the way to go. Sigh. [National Law Journal]

* Protip: do not flash your prosecutor’s badge to bypass cover charges and lap dance surcharges at the local strip club. You’re going to get fired. We’ll probably have more on this later. [Riptide 2.0 / Miami New Times]

* Don’t worry ladies, if you’re about to be raped, just pee or puke all over your attacker — or better yet, tell him that you’re on your period. Yeah, that’ll work. These tips are almost as good as “don’t dress like a slut.” [CNN]

* “[T]his is a ridiculous sideshow that’s horribly unbecoming to the parties involved.” The NCAA is now suing over a new Pennsylvania law designed to keep PSU’s Sandusky fines in the state. [San Francisco Chronicle]

* What to do when your federal agency’s website has been hacked by Anonymous and you’re unable to post a major report online for public dissemination? Well, just ask a law professor to do it for you on his blog; that’s not embarrassing, not at all. [WSJ Law Blog]

* The many victims of the Deepwater Horizon disaster can now rejoice, because yesterday, Transocean pleaded guilty to violating the Clean Water Act, and will pay the second-largest environmental fine in United States history to the tune of $400 million. [CNN]

* Money takes flight: eleventy billion Biglaw firms are behind the beast that is this awful airline merger, but taking the lead are lawyers from Weil Gotshal for AMR and Latham & Watkins for US Airways. [Am Law Daily]

* After questioning the validity of one of the NBA players union’s contracts, Paul Weiss is withholding details about it thanks to the government’s intrusion. Way to block nepotism’s alleged slam dunk. [New York Times]

* “When is the last time you took the biggest financial institutions on Wall Street to trial?” Elizabeth Warren took the Socratic method to the Senate Banking Committee and she was applauded for it. [National Law Journal]

* If you liked it, then perhaps you should’ve put a ring on it, but not a Tiffany’s diamond engagement ring that you’ve purchased from Costco, because according to this trademark lawsuit, it may be a knockoff. [Bloomberg]

* “We feel very badly for Megan Thode.” A Pennsylvania judge ruled against the Lehigh student who sued over her grade of C+ because let’s be serious, did ANYONE AT ALL really think he wouldn’t do that?! [Morning Call]

* She loves me, she loves me not: media darling Sonia Sotomayor used to be in favor of the use of cameras during Supreme Court arguments, but she’s done a complete about-face on the issue, just like Justice Elena Kagan before her. [National Law Journal]

* Everyone and their mother knows what Antonin Scalia thinks of the State of the Union address, but let’s find out what my colleague Elie Mystal thinks about the good justice’s antics — namely, Scalia’s non-attendance for the past sixteen years. [HuffPost Live]

* American Airlines and US Airways will be merging to create the largest (and most awful) airline in the country. Perhaps the DOJ’s antitrust division can save us from this parade of horribles. [DealBook / New York Times]

* It looks like Team Togut is going to have a crappy Valentine’s Day. They thought that their partner problems were all wrapped up, but according to these filings, it seems that they’ve only just begun. [Am Law Daily]

* If Irving Picard, the trustee in charge of the Bernie Madoff bankruptcy case, is able to get his way, money will soon be raining upon the victims of the massive Ponzi scheme at warp speed. [WSJ Law Blog (sub. req.)]

* This probably isn’t just a “distraction” or “silly sideshow” anymore, because Apple now says it will be fighting Greenlight’s attempt to block the tech company from restricting its issuance of preferred stock. [Bloomberg]

* Instragram has asked a federal court to toss a lawsuit over changes to the photo-sharing app’s terms of service because it contests that users still own the rights to all of their fugly Walden-filtered pictures. [Reuters]

* Remember Kenneth Kratz, the former Wisconsin prosecutor who referred to himself as “the prize”? He’s settled his sexting suit with Stephanie Van Groll, also known as the “hot nymph.” [Twin Cities Pioneer Press]

* Go to grad school at Lehigh for free: check. Sue for $1.3M over your C+: check. Get chastised by a judge over your ridiculous lawsuit: check. Whatever, we still beat Duke, and that’s really all that matters. [Morning Call]

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