* A bill to legalize gay marriage in New Jersey has passed in the state Senate. If this passes in the state Assembly, will Chris Christie put the kibosh on it? Someone better make him a faaabulous offer he can’t refuse. [Wall Street Journal]
* They might not be the most stylish bunch, but without lawyers (and the contracts they write), events like New York Fashion Week wouldn’t happen. Models, please keep that in mind while you do your little turn on the catwalk. [Reuters]
In the first lawsuit (during the proxy fight), the judge held that certain statements made in proxy materials were false and misleading. That lawsuit settled. In the next lawsuit (the 10b-5 class action), plaintiffs explain that precisely the same statements appeared in an annual report, and it is now settled law that those words are false and misleading. How do you avoid the devastating effect of collateral estoppel in the second case?
I solved that puzzle back in 1990. Now I’ve moved in-house, and I fear that I’ll never solve a similar puzzle again.
Have I lost my creativity? I don’t think so. Does my job still require creativity? Yes — but different kinds of creativity. This column is a requiem to a type of thinking that an in-house job — or, at a minimum, my in-house job — doesn’t seem to permit….
As mentioned previously, the next few State of the Market posts by Lateral Link, as compiled by Director Gary Cohen, will focus on one of the country’s largest states — Texas.
The strongest market in Texas is Houston, with some of the strongest candidates being those with corporate, capital markets, or finance experience. A close second is Dallas, which is also the focus of this post….
Lately, the Feds have been pretty serious about cracking down on corporate creeps. If you enjoy keeping your clients on the straight and narrow, then this week’s Job of the Week is for you. Lateral Link’s client, a Securities Litigation group of an Am Law 100 firm, is looking for a litigation attorney with FCPA experience. The group is thriving, and this could be an excellent opportunity for an associate who wants great career advancement prospects and a strong platform.
Position: Litigation Associate
Description of Position: Top firm is seeking a mid-senior level litigation and SEC enforcement associate, with 4 or more years of experience, for the Securities Litigation and Enforcement Practice Group in their New York office. Ideal candidates for this position must have prior law firm and/or government experience involving internal investigations, SEC enforcement matters, and/or white collar litigation in connection with the Foreign Corrupt Practices Act, insider trading, and other securities laws and regulations. Qualified candidates must have excellent legal analysis and writing skills, as well as experience managing large cases.
Location: New York, NY
This opportunity is brought to you by Lateral Link Director May Smythe. To work with May and to apply to this opportunity or other opportunities in New York, please register at www.laterallink.com and select her as your preferred recruiter. You can also reach out to her directly via email at email@example.com. If you already are a Lateral Link member, see position #9323, or contact your recruiter for more details.
A few years ago, the law firm of Nixon Peabody came up with a catchy jingle to celebrate its own fabulosity. You can listen to the song here, in case you’ve never heard it. The chorus went as follows: “Everyone’s a winner at Nixon Peabody!”
Alas, a recent lawsuit filed against Nixon Peabody by a former partner at the firm, David Tamman, does not put the firm in a very winning light. Instead, it just makes everyone look bad.
The allegations are seamy. What does Tamman allege?
Matt here. You might think that Dealbreaker HQ exists only metaphorically in virtual space, or maybe in the fan fiction you’re hiding in your desk, but in fact Bess and I share a real physical garrett both with our sibling sites Fashionista and Above the Law. Occasionally we even talk to each other. “Talk,” in this context, normally means that Above the Law editor Elie Mystal shouts at us about some outrageous political position. In order to quiet him down a bit, we’ve decided to take it to the internet, thus spawning the first – and maybe last! – Above the Law / Dealbreaker Debate Society.
I have been set the task of defending a proposition like “white-collar criminals should not get anything near the jail time they get.” (We are pretty casual with our resolutions here at the Breaking Media Debate Society.)
“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….
* The S.E.C. is being attacked again about its ethical standards. It’s not like these problems started with Cam Newton. I mean, the S.E… what’s that? The Securities and Exchange Commission? What? No, I don’t even know what that is. What does that have to do with football? [New York Times]
* Horrifying syphilis experiments keep coming back to haunt the United States government. That’s so syphilis. [Charlotte Observer]
* Illinois Governor Pat Quinn is expected to sign legislation today ending capital punishment. I couldn’t think of a joke here, but this cat thinks it’s a frog. [Chicago Tribune]
* A judge helped cut an attorney out of his father’s will and claimed he was still able to act impartially on a case the attorney was handling. That sh*t-eating grin on the judge’s face every time the attorney spoke? Oh, that was just a joke he remembered. [WSJ Law Blog]
The plug: I’ll be giving my “book talk” about The Curmudgeon’s Guide to Practicing Law in several locations in the next couple of weeks, including in a conference room at Skadden and in auditoriums at the law schools of Northwestern and Indiana University. If you have a group that might be interested in the talk, please contact me. We’ll sneak you into one of the upcoming talks, and you can decide whether my spiel would actually fit your occasion.
Now, the business. And it’s real business this time around — a business issue that has caught the attention of an awful lot of in-house counsel. The issue has to do with the Financial Accounting Standards Board’s deliberations over whether to alter corporate disclosures about loss contingencies. (Sorry, guys. No pictures of naked Canadian judges after the jump here. You’ve gone from the sublime to the ridiculous, or vice versa.)
Here’s the backstory: Investors legitimately want to know whether companies are about to lose a ton of money in litigation. So investors want companies to make fulsome disclosures about their “loss contingencies,” which picks up a lot of territory, including pending or threatened litigation.
Companies, on the other hand, are reluctant to disclose publicly that they anticipate losing a lawsuit. If companies were to make that type of disclosure, their litigation opponent would be energized and the settlement value of the case would skyrocket….
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.
In a land that is right here and in a time that is right now, a technology has arisen so powerful that it can replace basic human document review. Is it time to bow down before our new robot overlords?
First, here’s a little story about me: my life in the legal world began as a paralegal. My first case was a GIANT patent infringement case that was already six years old and had involved as many as five companies, multiple US courts, the ITC and an international standards committee. I knew nothing about any of this.
On my first day, my supervisor (a paralegal with at least eight other cases driving her crazy) sat me down in front of a Concordance database with a 100,000+ patents and patent file histories. “Code these,” she said. I learned that “coding”, for the purposes of this exercise, meant manually typing the inventor’s name, the title of the patent, the assignee, the file date, and other objective data for each document. I worked on that project – and only that project – for at least the first six months of my job. After a week or so, time began to blur.
What I know, in retrospect and with absolutely certainty, is that as time began to blur, so did my judgment. So did my attention to detail. If you could tell me that I did not make at least one mistake a day – one inconsistent spelling, one reversed day and month, one incorrectly spaced title – I frankly would need to see your evidence. I would not believe it. The human mind is trainable but it is not a machine.
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