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….
* The Southern District of New York: gay bench, or the gayest bench? Like fellow S.D.N.Y. nominee Paul Oetken, Alison Nathan is an openly gay lawyer who clerked for SCOTUS and served as an associate White House counsel. [Poliglot / Metro Weekly; Main Justice]
This is the time of year when future lawyers have to make a crucial choice that will follow them for the rest of the legal careers: where to go to law school. The choice of law school is critical, maybe unfairly so. When you look at medical schools, the hard part is getting into a medical school. But in the legal profession, your choice of law school will be a huge factor in what professional opportunities you can take advantage of with your J.D.
Perhaps in past years, this choice was really easy for 0Ls: they could just go to the highest-ranked school they got into, and then hope for the best. But given the realities of the legal economy, 0Ls need to look at a number of factors beyond the U.S. News law school rankings: how much the school costs, what job markets the law school feed into, and so on.
Over the past few weeks, we’ve received a number of inquires from 0Ls asking for advice about which law school to attend. We’ve pulled out two of the best questions, and now we want to open it up to the Above the Law readers to give these students — and all 0Ls — the combined wisdom of the ATL community.
These are really tough choices, and we know reasonable people will disagree. Hopefully you guys can help these 0Ls feel comfortable with their decisions, whichever way they go….
On Friday we posted a photo of a law-related license plate that struck some of you as rather obnoxious. We asked you to send in pictures of additional legally-themed vanity plates, by email (subject line: “Vanity License Plate”).
We received a number of interesting submissions. Check out the first one….
LEWW is back, plus one more adorable kid and minus a lot of sleep. Prime wedding season is nearly upon us, but today our task is to get you caught up on some of the nuptial fabulosity that occurred in our absence.
(And by the way, if you missed the NYT’s December feature on the bride and groom who met at their kids’ nursery school and left their spouses to be together — and the whole should-we-celebrate-infidelity uproar that ensued — get your fill here. Good stuff.)
Why is he smiling? He landed a job at a top law firm.
If your goal in life, or at least your near-term career objective, is to land a job at a large law firm, which law schools would best suit your needs? When it comes to minting Biglaw associates and partners, not all law schools are created equal.
The National Law Journal has just come out with its annual survey of which schools the NLJ 250 law firms relied on most heavily when filling their first-year associate classes. The results are interesting — and also a little depressing.
We’ll start with the depressing part: hiring of top law school graduates continued to decline. As noted by Leigh Jones of the NLJ, “Hiring of graduates of the top law schools by the nation’s largest law firms slid by 10% during 2010 compared with 2009…. In 2010, the top 50 schools sent 3,822, or 27.3%, of their juris doctor graduates to NLJ 250 firms, compared with 30.3% of their 2009 graduating classes. The top 50 schools produced 13,989 graduates during 2010.”
Let’s look at the top 10 law schools, ranked by the percentage of their 2010 graduates who landed jobs at NLJ 250 firms (i.e., “Biglaw”)….
We are well into February, and there are still law students who haven’t received all of their grades from first semester.
Why? I have no earthly idea. We’ve talked about this problem before: we get that professors really hate spending the time it takes to grade a bunch of exams. It’s boring. It’s arbitrary. It’s annoying to know that no matter how “fairly” you grade, you’ll have at least a few students who can’t handle the truth, waiting in your office to ambush you.
But it’s also your job. It’s your duty, owed to the students who are ruining themselves financially to help pay your salary, to provide them with grades in timely fashion. This is especially true in law school. And it’s especially true in a crappy economy. Law school grades matter, and it’s just cruel to keep students in the dark about them.
Now, if I show you a hundred professors who handed in grades late, you’ll hear a hundred different excuses about why grades were delayed: “I was preparing for a conference,” “My Commodore 64 broke down,” “I was having personal problems” — whatever. We get it; sometimes life intervenes and prevents professors from doing their jobs.
But at NYU Law School, some students are alleging that professorial favoritism is allowing some professors to turn in their grades much later than others…
We were somewhat surprised to learn that this actually isn’t the most depressing day of the year. That honor goes to the third Monday in January, not the first. There’s a whole mathematical formula about it. Anyway, here’s some LEWW cheer to brighten your gray Monday.
Administrative note: Signs are indicating that LEWW will soon be presenting Mr. LEWW with another heir. Wedding coverage will be scaled back somewhat while we recover from the blessed event, but you won’t care because it’s January, and nobody gets married in January.
But some got married in December — like these three couples:
People, here at LEWW we hate reality TV. Really, really, really hate it. It makes us feel bored, uncomfortable, and grossed-out by humanity, all at the same time. We can watch sports, which we suppose is “reality” in some sense, but other non-scripted programming sends us lunging for the remote. Dancing with the Stars? Gagging at the concept. Jersey Shore? Never seen it; sounds appalling. Even the Food Network is too real for us.
And of course, just thinking about those reality wedding shows makes us break out in hives. That said, we are going to be all over the upcoming royal wedding. Step back, Chelsea, this one is going to be the real deal, and LEWW is already counting the days until April 29. Now, to find a legal angle . . . .
On to this week’s couples. We have four finalists for this special Thanksgiving edition of LEWW:
Something like this happens every year. Students at major New York law schools get too hot or too cold because the facilitates managers at their law schools turned on the heat too early or too late.
And when law students are made to feel uncomfortable, they bitch. To us, to their friends, to their deans. If law students really are hothouse flowers, then we know that changing their environment can have disastrous consequences.
Thanks to our new Google voice account (646-820-TIPS), people have been telling us just how hot it is at Columbia and NYU. 100 degrees, 1000 degrees, “it feels like I’ve been sent to the Mustafar system” (that was from a friend at NYU who doesn’t ever get laid).
But I’m asking why. This happens every year. It already happened this year at Cardozo. How many New York lawyers does it take to turn off the heat?
Apparently, the process is more complicated than I can possibly imagine…
Watch to find out what some of our subscribers received in their May box!
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at firstname.lastname@example.org in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
• 2nd to 5th year mandarin fluent M&A associates needed in Beijing and Hong Kong at several firms;
• Korean fluent 2nd to 4th year cap markets associate needed in Hong Kong;
• 2nd to 5th year Japanese fluent M&A associates needed in Tokyo;
• 4th to 6th year mandarin fluent cap markets associate needed in Hong Kong;
• 2nd to 4th year M&A / cap markets mix associate needed in Singapore.
The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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