Partner Issues

* Presidential campaigns for Election 2012 are focusing in on the Supreme Court and future appointments to the high court, and Vice President Joe Biden is really not a fan of Justice Scalia. [POLITICO]

* Dewey know what the ramifications of D&L’s $50M insurance policy will mean for the resolution of the failed firm’s bankruptcy proceedings? Well, Steve Davis is probably happy. [Thomson Reuters News & Insight]

* Howrey going to pay off all of our creditors? Probably by dipping into the coffers of the 70 other law firms that took on our defectors. Have fun with all of those subpoenas. [Capital Business / Washington Post]

* The percentage of women in Biglaw partnership positions is up 2.8% since 2003, but the equity gender gap remains. At least some progress is being made. [National Law Journal]

* “I thought your papers were terrific, I just disagreed with them.” Kleiner Perkins isn’t a fan of backhanded compliments, so the firm is appealing a judge’s decision to keep Ellen Pao’s case out of arbitration. [Reuters]

* James Holmes, the alleged shooter in the Aurora movie-theater massacre, is scheduled to make his first court appearance today for an initial advisement. Thus far, he’s facing at least 71 charges. [Denver Post]

* The class action suit filed against Cooley Law over its allegedly deceptive employment statistics has been dismissed, much like the NYLS lawsuit before it. More on the dismissal to come later today. [WSJ Law Blog]

* “Sex isn’t going to buy me dinner.” Michael Winner, the attorney accused of offering “pro boner” assistance to female inmates, claims in an interview that the allegations against him are “just plain false.” [WSB-TV Atlanta]

D&L's former partner settlement.

* Our thoughts and prayers go out to the people of Aurora, Colorado. [CNN]

* Dewey know why the deadline for agreeing to a proposed $103.6M settlement for former D&L partners has been pushed back? It looks like these people are still unhappy with the very thought of parting with their money. [Am Law Daily]

* Four judicial nominees were approved by the Senate Judiciary Committee to fill federal district court positions in California, New York, and Pennsylvania. Now it’s time to hurry up and wait for a final vote on the Senate floor. [National Law Journal]

* “This is a garden variety sex harassment case.” That may be true, but when you’re dealing with a high-profile venture capital firm, and the plaintiff is an ex-Biglaw associate, you’re probably going to get some really bad press. [Washington Post]

* Opening statements in Sheriff Joe Arpaio’s racial discrimination trial were heard yesterday. Even “America’s Toughest Sheriff” might cower in light of plaintiff representation by Covington & Burling and the ACLU. [CNN]

* Washburn University School of Law is planning to build a new facility for $40M. Unfortunately, the school will never be able to amass the funds needed to kill all the gunners, but we can still dream. [Kansas City Star]

Ed. note: This is the latest column by our newest writer, Anonymous Partner. In case you missed his prior posts, they are collected here.

We all know how difficult to stay at a healthy weight while living the Biglaw lifestyle. Too many hours sitting down, with desk drawers nicely stocked for a quick bite in between phone calls. Sitting inside office buildings all day, with easy access to vending machines stocked with soda and junk food. Carb-heavy breakfasts for client meetings and lateral interview sessions. Food orgies masquerading as CLE sessions and firm meetings. Business development lunches and dinners at fancy restaurants with comprehensive wine and scotch lists. Seamless Web. Two cities, three depositions, one week — equaling plane snacks, room service, and more restaurants. Year in, year out, for a decade or two or three. No wonder your typical Biglaw partner has seen better days waistline-wise.

I know firsthand that it is not easy to drop those Biglaw pounds. But the effort is worth it. In my case, it took some real discipline to arrest what threatened to be a constant addition of one or two pounds a year. I was getting chunky, and as I noted in my first column, I only saw extremes in my older colleagues. I am not a runner, and while working out at home added on some muscle, there was no way I was going to see real results without changing my eating (and drinking) habits.

Everyone has their favorite weight loss tips. Here’s what has worked for me, in terms of keeping the extra pounds away….

double red triangle arrows Continue reading “Buying In: Biglaw Beach Bodies?
(Or: Avoiding excessive PPP — poundage per partner.)

As we noted in Morning Docket, many former partners of Dewey & LeBoeuf are less than pleased with the proposed settlement between the D&L bankruptcy estate and ex-partners of the firm. Preliminary reactions “rang[e] from skepticism to anger,” according to Am Law Daily.

In the words of Mark Zauderer, counsel to almost 60 former Dewey partners, “I’m not seeing overwhelming enthusiasm for the proposal.” A former D&L partner was even more blunt: “I think this is destined to fail. Let the trustee [of a Chapter 7 liquidation] go for it.”

But not everyone holds such negative views. One ex-partner — who claims that he’s being asked to pay more than he thought he owed, and that he’ll have to postpone his retirement by several years due to Dewey’s downfall — told Thomson Reuters that he will vote for the deal anyway. “My view is there’s nothing less desirable than having this drag out for years,” he said. “I’m willing to pay a lot of money to have this go away.”

Dewey have other issues besides how to deal with former partners? Most certainly. There are pressing problems regarding the disposition of client files, as well as issues regarding retirement benefits for former Dewey & LeBoeuf employees….

double red triangle arrows Continue reading “What Dewey Do With Thousands of Boxes of Client Files?
(And bad news for D&L 401(k) participants.)

* “I think this is destined to fail.” People are not happy with the proposed settlement plan for former Dewey partners, but who are they kidding? These people don’t exactly like to part with money — not even to hand out bonuses. [Am Law Daily (sub. req.)]

* Andrew Levander, a partner at Dechert LLP, is representing ex-Barclays chief executive Bob Diamond. Diamond hasn’t been charged with anything, but this white-collar defense lawyer’s apparently been on his side since 2010. [WSJ Law Blog]

* Money talks: lawyers and law firms are the top donors by industry to presidential campaign funds, with Kirkland & Ellis leading for Romney, and DLA Piper for Obama. [Capital Business Blog / Washington Post]

* Escándalo! Louis Freeh’s report revealed that PSU’s “seriously deficient” counsel billed a whopping 2.9 hours on an incident involving Jerry Sandusky’s locker room shower with a young boy. [Centre Daily Times]

* But here’s where the football chatter comes in (not that I know a lot about football): legal experts say Freeh threw an “incomplete” with this report, because it didn’t go far back enough in time. [New York Daily News]

* Sorry, lady, but you didn’t need to attend a Justin Bieber concert for his music to allegedly cause permanent damage to your ears to the tune of $9M. All you really needed to do was turn on the radio. [Chicago Tribune]

Debtor in possession -- of a sign? Dewey still seems to have signage outside 1301 Avenue of the Americas. (Photo taken on Tuesday by yours truly.)

Ever since the once high-flying Dewey & LeBeouf filed for bankruptcy in late May, observers have been wondering about what type of financial arrangement the firm might work out with its former partners. Last month, we discussed the outlines of a possible settlement between D&L and its ex-partners, in which former partners would pay a certain amount of money into the Dewey bankruptcy estate in exchange for being released from future claims by Dewey’s estate, the firm’s creditors, and fellow ex-partners.

Would such a plan fly? We noted that the broad outlines sounded reasonable enough, but that much would turn on the specific contours of the proposal — especially the amounts that the partners would be asked to pay, and the methodology for determining those sums.

In the wake of a meeting held yesterday afternoon here in New York at a hotel in midtown Manhattan, we now have some additional information on that front….

double red triangle arrows Continue reading “Dewey Have a Deal With Former Partners of the Firm?”

Big Bay Boom

* What kind of a Dewey pun will be used later today when we discuss this global “clawback” deal for former D&L partners? I dunno, but “Dewey know how f**ked we are?” seems rather appropriate at this point. [Wall Street Journal (sub. req.)]

* Judge Lucy Koh recused herself from a Facebook privacy lawsuit without providing a reason for doing so. Given that a petition to impeach her popped up online, she probably doesn’t want to piss off any other tech companies right now. [Reuters]

* Mississippi: a state where legislators want to protect women from unscrupulous abortion practitioners their own choices about their bodies. A judge has extended a temporary order to allow the state’s only abortion clinic to remain open. [CNN]

* Good news, everyone! Median starting salaries for recent law school graduates are no longer in the six-figure range due to an “erosion in Biglaw jobs.” Still think you’re going to make big bucks? [ABA Journal]

* A San Diego, California fireworks fiasco that lasted all of 15 seconds yielded not only a bunch of fabulously entertaining YouTube videos, but also great lawsuit fodder for environmental groups. [National Law Journal]

* Note to unemployed law school graduates in New Jersey: selling black-market kidneys isn’t a half-bad career choice, because if you get caught, you’ll likely only be sentenced to 30 months in prison. [Bloomberg]

As we continue to expand our coverage of law firm partners and in-house counsel here at Above the Law, we are looking for talented individuals who have experience with these constituencies in a marketing and/or editorial capacity and who wish to join a fast-paced, growing media company. The market experts will work closely with the ATL editorial, research, and business teams to develop new products and services targeting in-house lawyers and partners at large law firms.

If you are interested, please send your résumé and a cover letter explaining how you are perfect for this job — a full-time position, with benefits — to [email protected]. We welcome your ideas on how we can engage with these audiences even more, and we look forward to hearing from you.

Ed. note: This is the latest column by our newest writer, Anonymous Partner. In case you missed his prior posts, they are collected here.

I want to a be a Biglaw trial lawyer. If you could care less about trial work, but are in Biglaw, feel free to substitute whatever word you want for the word “trial” in the previous sentence — M&A, IPO, appellate, etc.

Why trial work, other than it seems like a good way to put my lack of nervousness when speaking publicly to productive use? Because I have always enjoyed days spent in court, and no matter how much fun it can be to take a contentious deposition or argue a motion, there is simply nothing like the atmosphere, teamwork, and total focus that a trial commands. Toss in the ability to avoid unpleasant obligations by saying “I am prepping for trial,” and the chance for a long vacation afterwards, and you get a great deal Biglaw-wise.

Since Biglaw is not the ideal training ground for trial work, I realize that I need to very flexible and patient if I realistically hope to have a trial practice down the road. In the meantime, I will continue looking for opportunities to work on trials, and I am willing to do some unorthodox things to accelerate my current pace of one trial every five years.

But first, some context….

double red triangle arrows Continue reading “Buying In: Trying for More Trials”

* Dewey know how many professional firms have been allowed to stay on as advisers for the largest law firm bankruptcy in U.S. history? Six out of nine firms were permitted to continue services, but Proskauer wasn’t one of them. [Am Law Daily (sub. req.)]

* In other defunct firm news, Al Togut will be presenting Dewey & LeBoeuf’s former partners with a proposed settlement on Wednesday. You’ve been warned: prepare yourselves for some Biglaw-style bitching. [Thomson Reuters News & Insight]

* Despite reports of the billable hour going the way of the dodo bird, it looks like they’re here to stay. Right now, corporate law departments are still much more excited about alternative billing arrangements than law firms. [WSJ Law Blog]

* Judge Sam Sparks, the King of Benchslaps, dismissed Lance Armstrong’s lawsuit against the USADA in record time. That ruling came too quickly — guess it’s time to investigate judicial doping. [New York Times]

* Marc Dreier’s son, Spencer Dreier, is representing himself pro se in a defamation suit against his former college roommate. Looks like Daddy couldn’t spring for his kid’s lawyer while he was in the clink. [Bloomberg]

* A California woman claims that the Food and Drug Administration’s methods regarding sperm donations are unconstitutional. Why should she have to go to an intermediary to get sperminated? [Huffington Post]

* Do you smell what The Rock is cooking? It’s not exactly something to be proud of. Actor Dwayne Johnson is listed as a “co-conspirator” in a $1.8M fraud lawsuit that’s been filed by a South Florida family. [NBC Miami]

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