Securities and Exchange Commission

Casey Anthony

* “Is there a public interest in unwanted pregnancies … that can often result in abortions?” The judge who ordered that Plan B be made available to all women regardless of age is pissed at the DOJ. [The Caucus / New York Times]

* Mary Jo White, the littlest litigatrix, will “review” the Securities and Exchange Commission’s policy of allowing financial firms to settle civil suits without affirming or denying culpability, but for now, she’s defending it. [Reuters]

* Dewey know what this failed firm is supposed to pay its advisers for work done during the first nine months of its bankruptcy proceedings? We certainly do, and it’s quite the pretty penny. [Am Law Daily]

* In a round of musical chairs that started at Weil Gotshal, Cadwalader just lost the co-chairs of its bankruptcy practice and another bankruptcy partner to O’Melveny. [DealBook / New York Times]

* Another day, another law school comparison website. Take a look at Law Jobs: By the Numbers, which includes a formula from the laughable National Jurist rankings system. [National Law Journal]

* In a move that shocked absolutely no one, attorneys for Colorado movie theater shooting suspect James Holmes announced they will enter a plea of not guilty by reason of insanity for their client. [CNN]

* From the “hindsight is 20/20″ file: the judge who presided over the Casey Anthony trial thinks there was enough evidence to convict the ex-MILF. He also likened Jose Baez to a used car salesman. [AP]

* Check out Logan Beirne’s book (affiliate link). Even when sensationalizing George Washington’s rise from general to president, attention must be paid to the rule of law. [Wall Street Journal (sub. req.)]

SLU Law’s recent deanship drama?

* The Department of Justice announced federal charges against suspected Boston bomber Dzhokhar Tsarnaev yesterday, leaving the decision of whether the death penalty will be sought in Eric Holder’s hands. [National Law Journal]

* Andrew Ceresney, most recently of Debevoise, was appointed to run the SEC’s enforcement bureau alongside George Canellos, an agency veteran. Maybe they’ll both be able to boost morale. [DealBook / New York Times]

* “[T]he best way to find Albany on a map is to look for the intersection of greed and ambition.” Preet Bharara is mad as hell about corruption, and he’s not going to take it anymore. [New York Law Journal]

* If Anthony Weiner decides to join the New York City mayoral race, partners from Am Law 200 firms will be responsible for his second coming thanks to their pre-wiener scandal funding. [Am Law Daily]

* “It’s done. Turn the page. The distraction is over.” The new dean of St. Louis University’s law school would like to move forward from the “slow-motion train wreck” of years past. [St. Louis Post-Dispatch]

* Thieves made off with 5.5 tons of Nutella. Damn you Danny Ocean! [CBS News]

* Don’t try to play Baseketball in Canton, Ohio. [Legal Juice]

* The SEC finally allows companies to distribute disclosures via social media. Welcome to the 21st Century, SEC. [IT-Lex]

* Speaking of the SEC, Mary Jo White was confirmed by the Senate. [Fox Business]

* Chief Judge Alex Kozinski: “Can I get an oy vey up in here?” [COLLive]

* Kentucky is just all kinds of screwy. Lawyer jailed for not turning over documents/running drug ring. [AP]

* Energy law was number two in law firm activity this quarter. For the billionth quarter in a row, Third Amendment law failed to crack the top 10. [AOL Energy]

* Ha! “Thus, it seems that (as has so often occurred in IP law) the focus on the problems of copyright and patent has allowed trademark law to engage, unsupervised, in a great deal of mischief.” [Law of Fashion]

* Just a reminder: Legalizing gay marriage does not end discrimination. [National Law Journal]

425G – Remembered to lift the seat

* First the law school rankings, now urine-based video games? It’s been a whirlwind week of heavy journalism for U.S. News. [U.S. News]

* Did you ask for a diorama of the Supreme Court? Because I did… [Washington Post]

* What do SCOTUSblog and “Girls” share in common? If you guessed that Tom Goldstein spends most of his day at the office naked, you’re (probably) wrong. [Peabody Awards]

* Casinos have systematically driven men out of the bartending and cocktail serving market. They use a fig leaf to protect themselves from Title VII… apparently literally. [Workplace Prof Blog]

* Dartmouth professor Sonu Bedi argues that same-sex marriage is really about the separation of church and state. You say potato, I say egregious denial of basic rights. [Huffington Post]

* UBS trying to get out of an SEC case. Color me surprised. [Dealbreaker]

* Central New Mexico Community College does not want to hear that sex talk. It makes Sol the Suncat sad. [Popehat]

* As mentioned before, there’s a new legal dispute over whether or not Sherlock Holmes has lapsed into the public domain. Alex Heimbach of Slate puts the case under the proverbial magnifying glass. [Slate]

* 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]

* A former general counsel has settled a case with the SEC alleging a slew of backdated options. It was suspicious when all the options were backdated to October 30, 1929. [ABA Journal; The Recorder]

* “If Microsoft Shuts Down Google Maps In Germany, How Does That Benefit The Public?” Um, it makes it harder for them to find Poland! Duh. [TechDirt]

* Senator Ted Cruz is having a rough go of it in the Senate. He’s already been publicly ripped by fellow Republicans John McCain and Lindsey Graham. Then he raised the ire of Senator Diane Feinstein, who has exactly zero patience for his crap. [Jezebel]

* Based on the description, HLN is licking its chops. [Craigslist]

* Supreme Court bobbleheads! I’m particularly impressed by Justice Brandeis riding the railroad. [Justices For Sale]

* To get yourself wound up for March Madness, here’s a fictional lawyer bracket from Constitutional Daily. Jack McCoy didn’t even make the field so this won’t be a repeat of the Above the Law winner. [Constitutional Daily]

* Lifting the amazing disappearing cloak over merit scholarships. [TaxProf Blog via National Jurist]

* Lawyer cited as the good guy in a punchline. Hurray! [OMFG Meme]

* Video after the jump of Lindsay Lohan showing up late for court, and getting a surprise gift from the crowd…

double red triangle arrows Continue reading “Non-Sequiturs: 03.18.13″

* Hey, they actually found one instance of voter fraud. By a nun. I can’t wait for the GOP to try to construct an entire argument for restrictions on voter access based on this case. [Talking Points Memo]

* Defense attorneys can go to jail for lying? In Detroit? Mind: blown. [Washington Post]

* The Senate grills would-be SEC chairman Mary Jo White. The hypocrisy of a bunch of Senators in the pocket of Wall Street asking about White’s potential conflict of interest would be stunning if this wasn’t the U.S. Senate. [National Law Journal]

* Former prosecutor and former FBI agent join forces to start a… private equity litigation finance group. I guess their years of investigation showed them where the money is. [Reuters]

* A law professor blames “no child left behind” for the poor quality of students these days. Yes, but what do we blame for the quality of law professors? [Chronicle of Higher Education]

* We’re going to have to do something about these sinkholes. [Daily Mail]

After the jump, a propaganda video purportedly made by North Korea “seems to mistake TTT grads for regular Americans,” according to a tipster….

double red triangle arrows Continue reading “Morning Docket: 03.13.13″

* Mary Jo White isn’t the only Debevoise partner who will face high scrutiny while being vetted for the SEC. Andrew Ceresney may be up for co-chief of enforcement. [DealBook / New York Times]

* The Crowell & Moring ethics complaint alleging the firm suggested Appalachians have family circles instead of family trees was chalked up to an “inbreeding memo mishap.” [Am Law Daily]

* A panel of the Appellate Division, Second Department will hold court at St. John’s School of Law next month. Perhaps the students will be a little less embarrassed happier with the school now. [New York Law Journal]

* Patrick Fitzgerald, ex-U.S. attorney and current Skadden partner, will teach a course in national security law at Chicago Law School. Attend his class, lest his “extraordinary brilliance” go to waste. [National Law Journal]

* Looks like somebody forgot about Dre. The rapper’s headphones company, Beats By Dr. Dre, is now going after people for trying to register anything with “beat” or “beats” as trademarks. [WSJ Law Blog (sub. req.)]

* Ross Ehlinger, a litigator who died while competing in the Alcatraz triathlon, RIP. [San Francisco Chronicle]

To get a sense of how old and long-drawn-out the SEC’s insider trading lawsuit against Mark Cuban is, consider this: the company in which he allegedly insider traded was Mamma.com. The .com was right there in the name. Future generations — hell, present generations — will indiscriminately add “.com” to the end of words to create an old-timey feel, the way we doeth with “-eth.”1

Actually it happened in 2004, and I don’t even need the “allegedly”: there’s no dispute that Cuban insider traded. Everyone agrees that:

  • Mamma.com was planning to sell some stock in a PIPE offering which would, inevitably, drive down its stock price;
  • Mamma.com’s CEO called Cuban and told him about the planned PIPE offering in advance, hoping to get Cuban to buy more stock;
  • Cuban instead sold the stock he already had, prior to the public announcement of the PIPE deal; and
  • Then the PIPE was announced and the stock dropped.

So he had material nonpublic information, and he traded on it, and he avoided losses by doing so. INSIDER TRADING. The only debate is whether he insider traded illegally, which, as I often find myself reminding people, is a separate question. The SEC’s lawsuit2 turns not on the facts above, but on whether Cuban agreed not to trade before learning the inside information. Here the evidence is less clear, but there’s enough evidence that he did for the SEC to survive summary judgment yesterday and take the case to trial. Here is that evidence:3

Continue reading at Dealbreaker….

* Dewey was quick about getting its Chapter 11 plan confirmed, but all of these unfinished business claims are taking a little longer to resolve than previously hoped. But hey, at least Paul Hastings settled. [Am Law Daily]

* Because sometimes profit sharing isn’t enough: Theodore Freedman, a former Kirkland & Ellis partner, pleaded guilty to tax fraud after underreporting his partnership income by more than $2M. [New York Law Journal]

* Here are some tips if you’re trying to get off a law school’s wait list. Apparently it’s wise to wait patiently instead of being a complete gunner from the get go. [Law Admissions Lowdown / U.S. News & World Report]

* Imagine a land filled with millions of little Honey Boo Boos. That’s what the great state of Arkansas is going to look like if the legislature passes the most restrictive abortion law in the country. [WSJ Law Blog (sub. req.)]

* Not only do the Mavericks suck, but Mark Cuban’s luck in court does, too. His bid to toss an insider trading case was denied. He’d probably jump over the bench and have a fit if he could. [DealBook / New York Times]

* Dawn Clark Netsch, beloved Illinois pol and one of the nation’s first female law profs, RIP. [Chicago Tribune]

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