Mergers and Acquisitions

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]

Behind the blue door lies a world of great beauty.

You’d expect a top mergers-and-acquisitions lawyer to have excellent business sense. So it shouldn’t be surprising to learn that an M&A partner at a leading law firm bought a Manhattan townhouse for $837,000 that is now probably worth more than $7 million.

It’s a gorgeous home, very tastefully decorated (which can’t be said of all our Lawyerly Lairs). Let’s see some pictures and learn more about it, including the identities of the owners….

double red triangle arrows Continue reading “Lawyerly Lairs: An M&A Maven’s Magnificent Manse”

DaNae Couch

* “I’m a New Yorker, and I jaywalk with the best of them.” Don’t be fooled by the rocks job that she’s got — she’s still, she’s still Jenny Sonia from the block. The Supreme Court’s very own wise Latina, author of a new memoir (affiliate link), is proud of her city. [New York Times; 60 Minutes]

* If you’re looking for an M&A adviser, you’d be wise to seek out counsel from Skadden Arps. The firm swept three separate rankings lists based on the total value of its clients’ 2012 M&A transactions. [Am Law Daily]

* Only in the world of legal education could the dean of a law school that isn’t even numerically ranked by U.S. News have the highest salary of all law deans nationwide. (We’ll likely have more on this later.) [Boston Globe]

* Arizona schools will allow 3Ls to take the bar exam, but New York schools may soon do away with 3L year altogether. Of course, the ABA will find a way to muck it up, but still, hooray for progress! [National Law Journal]

* Remember “Made in Jersey,” the show about a stereotypical Jersey girl who made the jump to Biglaw? Yeah, neither does anyone else. Hopefully “Staten Island Law” won’t face the same fate. [New York Daily News]

* “Sexiness is all about being a woman of character.” Our congratulations go out to DaNae Couch, the Texas Tech law student who advanced to the Top 10 of the Miss America competition. You go girl! [Lubbock Online]

* Aaron Swartz — Reddit co-founder, friend of Larry Lessig, felony hacking defendant — RIP. [New York Times]

* Seven out of nine sitting Supreme Court justices were silent when it came to the passing of Robert Bork. Justice Antonin Scalia, of course, issued a public statement, as did liberal Justice Ruth Bader Ginsburg (surprise!). [WSJ Law Blog (sub. req.)]

* No one ever really doubted that it would take an army of Biglaw lawyers from the likes of Sullivan & Cromwell, Shearman & Sterling, and Wachtel Lipton to handle a monumental deal like the proposed $8.2 billion NYSE/ICE merger. [Am Law Daily]

* Can you coach with Nick Saban and be a Miller Canfield partner at the same time? No. But you can sue (and win!) when the firm allegedly forces you out due to its “culture of fear and intimidation.” [Detroit Free Press]

* Justice Rolando Acosta, who wrote the opinion upholding the dismissal of the class action case against NYLS, rates well among his peers as a nominee for the New York Court of Appeals. [New York Law Journal]

* Peter Madoff was sentenced to ten years in prison for his role in Bernie Madoff’s Ponzi scheme, but the judge will probably let him go to his granddaughter’s bat mitzvah before shipping him to the pokey. [Bloomberg]

* Merry Christmas, now go f**k yourself. A federal judge has given a woman in Louisiana free rein to display holiday lights on her roof in the form of an extended middle finger. God bless America. [CBS 3 Springfield]

Cravath partners enjoy discounts at Subway, among other perquisites.

It’s rare for partners to leave Cravath, given the prestige, pay, and perks associated with partnership at the firm. And it’s especially rare for a Cravath partner to leave for a rival firm, as opposed to a Wall Street investment bank or major corporation.

Cravath has a very specific system for running itself, and that system has served Cravath very well over the years. As its competitors expend increasing amounts of effort to climb the prestige hierarchy and expand across the globe, Cravath remains at the top, serenely servicing its clients — and printing money for its partners. Part of the reason why Cravath so rarely loses partners to other firms is that it’s so profitable overall that even a partner being paid under Cravath’s lockstep system still does better than a “star” partner at many other firms.

So that’s why today’s news is so notable. A prominent young partner at Cravath has decided to leave Worldwide Plaza and take his talents across town.

Who is the partner in question, and where is he headed?

double red triangle arrows Continue reading “Musical Chairs: A Promising Young Partner Parts Ways With Cravath”

* On the even of the Supreme Court’s conference that will determine whether a gay marriage case will be on the docket in 2013, a federal judge ruled that Nevada can ban the practice in the state. Not fab. :( [BuzzFeed]

* A bankruptcy judge gave Dewey & LeBoeuf’s unsecured creditors the go-ahead to sue the pants off Joel Sanders and the Steves (a moniker for what likely would’ve been an extremely orange band). [Am Law Daily]

* Hostess Brands received final approval to wind down its business and begin selling off its Twinkies to satisfy its creditors, but not before $1.8M in bonuses payouts were authorized. [DealBook / New York Times]

* Foul balls: as if his public tiff with Lance Armstrong and indecent exposure sentence weren’t enough, Clark Calvin Griffith is facing bar discipline over his pervy predilections. [Minneapolis/St. Paul Business Journal]

* UCLA School of Law recently announced its plans to offer an LL.M. in Law and Sexuality. Now, recall that just one month ago, Justice Scalia advised students not to take “law and _____” courses. [National Law Journal]

* Dominique Strauss-Kahn agreed to settle a suit brought against him by a hotel maid who accused him of rape. We still don’t know the dollar amount, but we bet he kept his aggravated pimp hand strong. [Bloomberg]

* A day in the life of Lindsay Lohan includes an arrest for assault in New York, followed by charges related to a car crash in California. Her legal drama is almost as bad as Liz & Dick. [Daily Dish / San Francisco Chronicle]

* Jerry Finkelstein, former publisher of the New York Law Journal, RIP. [New York Law Journal]

* George C. Kern Jr., Sullivan & Cromwell’s M&A maven, RIP. [New York Times]

* In case you missed this yesterday during the Cravath bonus-mania-palooza, David Kappos, the director of the United States Patent and Trademark Office, announced that he’d be stepping down from his position in January 2013. [Blog of Legal Times]

* And speaking of bonuses, somebody’s not probably getting one this year, because here come the lawsuits: Hewlett-Packard just got slapped with a securities class action suit as a result of the company’s allegedly fraudulent Autonomy acquisition. [Reuters]

* Will Penn State’s former general counsel be able to testify against Gary Schultz and Tim Curley in post-Sandusky criminal proceedings? Considering she’s “a key witness,” she better be. [Corporate Counsel]

* Of course Vermont Law School is considering offering voluntary staff buyouts, the school has a freakin’ $3.3M budget shortfall. In other news, they’ll be upping LL.M. programs to make up the cash. [National Law Journal]

* Paul Ceglia, the man who claims he owns half of Facebook, has been indicted on federal wire and mail fraud charges. He’ll appear in court this Wednesday, but who knows if he’ll have a lawyer by then. [Bloomberg]

* Jay Jaffe, law firm public relations pioneer, RIP. [PRWeek]

Justice RBG rocking her doily.

* As soon as Mary Schapiro announced she was stepping down as chairwoman of the SEC, Obama nominated another woman to take her place. Congrats to SEC Commissioner Elisse Walter! [WSJ Law Blog]

* In other breaking news that no one will care about now that bonus season is upon us, Justice Ruth Bader Ginsburg swapped out her neck doily for a blingy necklace from Glamour. [Josh Blackman's Blog]

* You know what the ancient Romans would’ve hated more than watching the fall of the Roman empire? The Citizens United decision. Cato, Cicero, and Julius Caesar wouldn’t have been impressed with this. [Slate]

* Why go to law school if you’re already doing well financially? Perhaps you’re just another prestige hunter. If you are, then all the better for you, because that seems to be what all of the law schools are selling these days. [Inside the Law School Scam]

* Don’t cry for Argentina: they may be in the middle of a billion-dollar bond dispute, but the uber-prestigious lawyers on either side of the case (Boies; Olson) are enough to make you forget about their troubles. [Reuters]

* A Biglaw attorney from Alston & Bird with a rare sleep disorder confronts Big Pharma and… doesn’t win. At least not yet. But on the bright side, she’s not sleeping for 18 hours anymore. [The Last Word on Nothing]

* We’re honored to announce that Above the Law was named as one of the ten law blogs in the ABA Journal’s inaugural Blawg 100 Hall of Fame. Please click here if you’d like to help us win again this year. [ABA Journal]

* After the jump, Bloomberg Law’s Lee Pacchia speaks with Bill Lawlor, a Dechert partner, who claims “hope springs eternal for M&A attorneys.” Will the mergers and acquisitions market begin to boom once again?

double red triangle arrows Continue reading “Non-Sequiturs: 11.26.12″

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