Mergers and Acquisitions

* In November, the Supreme Court will decide whether our Fourth Amendment rights come subject to advances in technology. I, for one, welcome our new Orwellian overlords. [New York Times]

* What do you get when two wireless carriers with craptastic coverage and service that goes down more than a porn star have plans to merge? Who knows, but AT&T says it’s a good thing. [Bloomberg]

* Class actions are pretty pricey, so it would be great if Groupon offered its employees a special on overtime pay. That daily deal would reach the required minimum. [Crain's Chicago Business]

* Would that Stephen McDaniel had once posted online about where he would hide a “hypothetical” body. The search for the remains of Lauren Giddings continues this week. [Macon Telegraph]

* Stephen Zack, immediate past president of the ABA, is donating $800K to his alma mater to promote diversity. Promoting employment is apparently still on the back burner. [Miami Herald]

* Do fat people have rights under the ADA? White Castle, if your customers are too large to fit into your booths, the solution isn’t to send them coupons for more fast food. [New York Post]

Dennis Block

Big news out of New York today: Dennis Block, a leading mergers and acquisitions attorney, is on the move. Known for being extremely successful — but notoriously difficult to work with — Block is stepping away from Cadwalader, Wickersham & Taft and bringing his huge book of business to Greenberg Traurig.

This Brooklyn Law School graduate proves that you don’t need to go to a T-14 school to have a great career. Block has served as counsel on several big time affairs, including Pfizer’s $68 billion Wyeth takeover, and JPMorgan’s Bear Stearns buyout.

Let’s learn more about Block’s past, and see what Cadwalader has to say about this partner’s defection….

double red triangle arrows Continue reading “Musical Chairs: Greenberg Traurig Snags a Major Player from Cadwalader”

Beata Boman: See what I mean?

* Sprint hopped in bed with Skadden to sue AT&T over its proposed merger with T-Mobile. Somewhere in America, the Verizon guy is cackling with glee. “Can you hear me now, b*tches?” [Bloomberg]

* “I would love to dominate and humiliate and degrade you, privately of course.” Remember this guy? Six of the nine charges against attorney Robert Hoffman have been dismissed. [ABA Journal]

* Another sport, another months-long lockout. NBA owners and players better make a deal soon, or else this year’s basketball season is going to get benched. [New York Daily News]

* Utah wants to throw out the Sister Wives bigamy suit because no one really cares about polygamy except television viewers. Lawsuits are great for Nielsen ratings, though. [Deseret News]

* Ah, the strange anatomy of a privacy lawsuit settlement. Next time you decide to take naked pictures, make sure your laptop didn’t fall off the back of a truck before saving them. [ABC News]

* Socialite Beata Boman got a great deal on her larceny charges. She stole a scarf, but she probably should’ve stole a blazer that fit her massive boobs, instead. [New York Post]

Paul Bergrin

* Paul Bergrin wants to represent himself in his racketeering case. They say that a man who represents himself has a fool for a client, but that’s not the case when you’re considered the Baddest Lawyer in the History of Jersey. [Philadelphia Inquirer]

* Hordes of Biglaw lawyers couldn’t stop the DOJ from trying to block the AT&T/T-Mobile merger. New antitrust issues abound, like “higher prices, fewer choices and lower quality products.” They already have a monopoly on crappy coverage. [Am Law Daily]

* The truth? You can’t handle the truth! That, or you don’t really care about it when it comes to Barry Bonds. The big-headed baseball MVP will not face a retrial on his perjury charges. [CNN]

* Sasan Ansari, a convicted killer in Canada, will return to the University of British Columbia to complete law school. Good luck with your character and fitness evaluation, eh? [Vancouver Sun]

Jessica Beagley

* Jessica Beagley managed to avoid jail time at sentencing. Come on, judge, you could’ve at least given her a taste of her own medicine: hot sauce and a cold shower. [WSJ Law Blog]

* BitTorrent porn? On my grandma’s computer? It’s more likely than you think. After this California granny scolded Steele Hansmeier, the lawsuit against her was dropped. She mailed the firm a Werther’s Original in thanks. [Huffington Post]

* Nudity first, names later. I like this sheriff deputy’s alleged style. A girl in Utah is suing over a roadside traffic rendezvous that she says turned into an illegal strip search. [Standard-Examiner]

Edwards Angell & Wildman Harrold: A match made in heaven?

What results from the coupling of an angel and a wild man? One might think: angel + wild man = air traffic nightmare.

In the law firm context, however, the result is quite different. Edwards Angell is merging with Wildman Harrold, to form Edwards Wildman Palmer. The merger will take effect on October 1 and “will bring together 650 lawyers across two legacy firms renowned for their deep experience, shared dedication to client service, and highly collaborative cultures,” according to the new firm’s website.

What else do we know about Edwards Wildman Palmer? And what might be motivating this merger?

double red triangle arrows Continue reading “Law Firm Merger Mania: Edwards Angell Merges With Wildman Harrold”

* The hotel maid behind DSK’s extended stay in New York has now sued her alleged attacker. Remember, this is all about the truth. It has nothing to do with money. [CNN]

* Should you be worried about the stock market’s seppuku yesterday? If you like money, then probably. If you like your job as an M&A attorney, then definitely. [The Recorder]

* Illinois is giving sex trafficking victims the chance to vacate their prostitution convictions. Even if Reema Bajaj gets convicted, she still couldn’t use this law to clear her name. [Chicago Sun-Times]

* Therapy dogs aren’t just for law school libraries anymore. Now they’re appearing in courtrooms. But is an adorable dog unfair to defendants? Only if you hate dogs… and justice. [New York Times]

* Frank McCourt is still on deck for his at bat with Bingham McCutchen. The good news is that the Dodgers can keep on sucking in the interim. [Los Angeles Times]

* We’re happy that the Breaking Media dress code doesn’t include “Tube-top Tuesday” and “Wet T-shirt Wednesday.” An employee in Utah claims she isn’t as lucky as us. [Salt Lake Tribune]

It takes a big man to ignore a small issue.

A lawyer who lacks self-confidence feels compelled to run down every issue, make every argument, and depose every witness. After all, if you choose to make an educated guess about the importance of a tangential issue, or whether to omit a plausible (but likely losing) argument from a brief, or whether to incur the cost of deposing a just-barely-relevant witness, all may be lost. You might lose the case, and the recriminations would never stop. Better to leave no stone unturned than to leave yourself at risk of being second-guessed.

That’s one reason to hire lawyers with a little self-confidence. They’re willing to take intelligent risks where it makes sense to do so.

Which brings us to the topic of today’s post: Compliance due diligence.

If your company’s considering an acquisition, you can simply outsource the entire compliance due diligence process. Hire Big Firm, ask it to handle due diligence, and wait for the results. No muss, no fuss.

And, at the end of the day, no deal.

No deal, but lots of legal expense.

Why?

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Matthew Kluger aka Big Gay Matt

“Aww, Matt, why do you have to go around giving us a bad name?”

Ever since Matthew Kluger was charged in a massive insider trading case, involving an alleged conspiracy that spanned 17 years and generated more than $32 million in profit, the foregoing question could be asked by many groups: Cornell grads, NYU law grads, Cravath lawyers, Skadden lawyers, and Wilson Sonsini lawyers.

Tonight we can add more groups to the list: Fried Frank lawyers, and gays — specifically, gay dads.

As reported by the Wall Street Journal earlier tonight, Matt Kluger worked at yet another major law firm: Fried Frank. After he was fired by the firm in 2002, he sued, claiming that partners there discriminated against him because he’s gay — and a father of three, with parenting responsibilities.

Just when you thought this case couldn’t get any weirder, it just did. Matthew Kluger is gay. And a dad. With three kids. Thanks for sending America such a positive image of LGBT parents, Matt!

Let’s take a closer look at Kluger’s suit against Fried Frank — and additional details about Matt Kluger’s complicated personal life, gleaned from ATL tipsters….

double red triangle arrows Continue reading “Matt Kluger, Ex-Biglaw Associate Charged With Insider Trading, Is A Gay Dad — and Once Sued Fried Frank Over It”

Matthew Kluger

There’s no contest today for Lawyer of the Day honors. The clear winner is Matthew Kluger, a former associate at three leading law firms, who has been charged in a massive insider trading case. Kluger stands accused of reaping more than $32 million in profit over the course of a 17-year conspiracy, which also allegedly involved a trader, Garrett Bauer. (Kluger and Bauer might not be as big as Raj Rajaratnam, who’s pretty hefty, but their supposed scheme is nothing to scoff at.)

The charges were filed by Paul Fishman, U.S. Attorney for New Jersey (disclosure: my former office). Fishman claims that Matt Kluger passed along insider information that eventually made its way, via an unnamed co-conspirator, to Garrett Bauer, who traded on it. According to the complaint, Kluger and Bauer invested more than $109 million in the scheme, which yielded profits of more than $32.2 million.

Where did Kluger allegedly obtain the inside information? From the three Biglaw firms where he once worked on M&A deals….

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The law firm of Wachtell Lipton is not the nation’s coolest firm, having been knocked out by Davis Polk in Above the Law March Madness. But the bonuses paid out by WLRK in 2010 were still plenty hot — about as sizzling as some DPW associates, one might say.

Should they have been even better, though? Not everyone at 51 West 52nd Street was thrilled about the 2010 payouts (even though Wachtell associate bonuses still exceed those at almost every other firm).

Let’s take a look at what WLRK doled out last year….

double red triangle arrows Continue reading “Associate Bonus Watch: What Did Wachtell Do?”

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