Securities Law
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Biglaw, Deaths, Law School Deans, Law Schools, Lindsay Lohan, Money, Morning Docket, Partner Profits, Securities Law
Morning Docket: 02.01.13
* Congratulations to Cadwalader Wickersham & Taft! The firm saw its first revenue increase in three years, with profits per partner jumping up 11.6 percent, yet they didn’t top Cravath’s bonuses. Rude. [Am Law Daily]
* Thanks to the firm’s association with Ponzi schemer Nevin Shapiro, Shook Hardy & Bacon was accused of aiding and abetting in securities law violations and is facing a multimillion-dollar suit. [Miami Herald]
* Lawyer glut? What lawyer glut? Let’s open some new law schools, yayyyy!!! Despite the fact that applications are at their lowest in a decade, new schools are still throwing their doors open wide. [Wall Street Journal]
* With the dean of Seattle University School of Law stepping down, Annette Clark, she of the most epic St. Louis University Law resignation letter, may get a second bite at the proverbial deanship apple. [National Law Journal]
* “Flattery doesn’t get you anywhere in this court.” Wooing the judge won’t work, so Lindsay Lohan’s new lawyer has a tough row to hoe — he had to pick up Shawn Holley’s pieces AND deal with his client. [Fox News]
* Ed Koch, former mayor of New York City and judge of “The People’s Court,” RIP. [New York Times]
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Barack Obama, Biglaw, Federal Government, Litigators, Litigatrix, Mary Jo White, Musical Chairs, Partner Issues, Securities and Exchange Commission, Securities Law, Wall Street
Obama Throws Down The Gauntlet With New Pick To Head The SEC
Obama's pick to head up the SEC could be a game changer. - Sponsored
Diving Into Generative AI: A Practical Guide For Law Firms Starting From Scratch
NetDocuments’ Michelle Spencer on where to start, what to ask, and considerations for implementing generative AI tools in your organization. -
NYSE, Securities and Exchange Commission, Securities Law, Social Media, Social Networking Websites, Technology
SEC's Netflix Probe Is No Blockbuster
The SEC is probing Netflix for posting company milestones on Facebook. Calling Facebook a non-public forum sounds crazy, it's just one more instance of the SEC failing to grasp modern technology.
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Alston & Bird, Biglaw, Blogging, Bloomberg, David Boies, Health Care / Medicine, Law Schools, Mergers and Acquisitions, Money, Non-Sequiturs, Ruth Bader Ginsburg, SCOTUS, Securities and Exchange Commission, Securities Law, Supreme Court, Ted Olson
Non-Sequiturs: 11.26.12
* As soon as Mary Schapiro announced she was stepping down as chairwoman of the SEC, Obama nominated another woman to take her place. Congrats to SEC Commissioner Elisse Walter! [WSJ Law Blog] * In other breaking news that no one will care about now that bonus season is upon us, Justice Ruth Bader Ginsburg swapped out her neck doily for a blingy necklace from Glamour. [Josh Blackman's Blog] * You know what the ancient Romans would’ve hated more than watching the fall of the Roman empire? The Citizens United decision. Cato, Cicero, and Julius Caesar wouldn’t have been impressed with this. [Slate] * Why go to law school if you’re already doing well financially? Perhaps you’re just another prestige hunter. If you are, then all the better for you, because that seems to be what all of the law schools are selling these days. [Inside the Law School Scam] * Don’t cry for Argentina: they may be in the middle of a billion-dollar bond dispute, but the uber-prestigious lawyers on either side of the case (Boies; Olson) are enough to make you forget about their troubles. [Reuters] * A Biglaw attorney from Alston & Bird with a rare sleep disorder confronts Big Pharma and… doesn’t win. At least not yet. But on the bright side, she’s not sleeping for 18 hours anymore. [The Last Word on Nothing] * We’re honored to announce that Above the Law was named as one of the ten law blogs in the ABA Journal’s inaugural Blawg 100 Hall of Fame. Please click here if you’d like to help us win again this year. [ABA Journal] * After the jump, Bloomberg Law’s Lee Pacchia speaks with a Bill Lawlor, a Dechert partner, who claims that “hope springs eternal for M&A attorneys.” Will the mergers and acquisitions market begin to boom once again? -
Airplanes / Aviation, Allen & Overy, Biglaw, Bonuses, Books, Deaths, Dewey & LeBoeuf, Jeffrey Toobin, Money, Morning Docket, SCOTUS, Securities Law, Supreme Court
Morning Docket: 10.01.12
* Bank of America agreed to pay $2.43 billion, one of the biggest securities class-action settlements in history, to put the Merrill Lynch mess behind it. According to Professors Peter Henning and Steven Davidoff, B of A “is probably quite happy with the settlement given that it could have potentially faced billions of dollars more in liability in the case.” [DealBook / New York Times]
* “Oyez! Oyez! All persons having business before the Honorable, the Supreme Court of the United States, are admonished to draw near and give their attention, for the Court is now sitting.” Here is Robert Barnes’s take on the SCOTUS Term that starts today. [Washington Post]
* And here is Professor Garrett Epps’s review of Jeffrey Toobin’s new book on the Supreme Court, The Oath (affiliate link). [New York Times]
* How Dewey justify paying a big bonus to a member of the management team “when it has been widely pointed out that excessive compensation to the firm’s upper management significantly contributed to the firm’s collapse in the first place?” [Bankruptcy Beat via WSJ Law Blog]
* A high-profile Vatican trial raises these questions: “‘Did the butler do it?’ Or rather, ‘was it only the butler who did it?’” [Christian Science Monitor]
* Ben Ogden, an Allen & Overy associate who was killed in a Nepalese plane crash, R.I.P. [Am Law Daily]
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Crime, Department of Justice, In-House Counsel, Securities and Exchange Commission, Securities Law, White-Collar Crime
Reading Tea Leaves: Defense Bar Freaking Out About the Foreign Corrupt Practices Act
Why are defense lawyers suddenly freaking out about the Foreign Corrupt Practices Act (FCPA)? -
Department of Justice, Entertainment Law, Intellectual Property, Politics, Securities Law, Technology
Pol Dancing: Democratic Platform Tragically Light On Porn Policy
Which DNC Platform planks should lawyers care about? Joe Patrice has some suggestions... -
Bankruptcy, Biglaw, Cars, Cellphones, Department of Justice, Dewey & LeBoeuf, Drugs, Facebook, Health Care / Medicine, Immigration, Law Schools, Morning Docket, New Jersey, Pets, Plaintiffs Firms, Politics, Prostitution, SCOTUS, Securities Law, Sentencing Law, Supreme Court
Morning Docket: 05.29.12
* Dewey have some novel issues for our bankruptcy lawyers, or what? As we noted last night, now that D&L has filed for Chapter 11, they’ll have to deal with bank debt, and bondholders, and possible criminal proceedings, oh my! [New York Law Journal]
* And did we mention that Dewey’s defectors and their new firms might get screwed out of millions thanks to the recent Coudert decision? You really should’ve tried to finish up your business before the firm flopped. [WSJ Law Blog]
* Our SCOTUS justices’ summer plans don’t include debating the results of their landmark health care and immigration cases. They’ll be off to fabulous destinations to teach by the first week of July. [Associated Press]
* A federal judge in Brooklyn doesn’t like what seems to be happening in the “game of grams” when it comes to mandatory minimum drug sentencing. Perhaps the DOJ will heed his call for reform. [New York Times]
* Facebook’s IPO was an epic fail, but it’s been great business for plaintiffs lawyers. Twelve securities class action firms are gathering leads and getting ready to sue, and two have already sued. [National Law Journal]
* This wasn’t exactly well planned: if you’re involved in state politics, it’s probably not a good idea to fake a legal internship with a state representative so that you can graduate from law school. [Concord Monitor]
* In happier news, a New York Law School graduate walked across the stage to receive her diploma with the help of her seeing-eye dog. The pooch hasn’t lifted a leg on her law degree… yet. [New York Daily News]
* “Brothels are never going to be a vote winner.” But even so, if you’re looking to get it in down under, a plan to build Australia’s largest cathouse may soon gain approval if lawyers are able to do their work quick and dirty. [Bloomberg]
* Thanks to this case, stupid teenagers in New Jersey who send texts to others that they know are driving can now revel in the fact that they can’t be held liable for injuries that may occur thanks to careless driving. [New Jersey Law Journal]
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Bankruptcy, Biglaw, Citigroup, Dewey & LeBoeuf, Dewey Ballantine, Dissolution, JPMorgan Chase, LeBoeuf Lamb, Money, Partner Issues, Partner Profits, Peter Lattman, Securities Law, Wall Street
Dewey Violate Rule 10b-5? A Detailed Look at the Firm's 2010 Offering Memorandum
Was the offering memo for Dewey & LeBoeuf's 2010 private placement materially misleading? And what does the document reveal about the firm's finances? -
Bankruptcy, Biglaw, Bloomberg, Bracewell & Giuliani, Dewey & LeBoeuf, Dissolution, Lateral Moves, Media and Journalism, Partner Issues, Partner Profits, Securities Law, Videos, YouTube
Dewey Have Anyone Left To Turn Out the Lights?(Plus an actual lawsuit, a possible lawsuit, and a partner's theory of blame.)
What is one prominent Dewey partner's theory for what caused the firm's collapse? -
Constitutional Law, Contracts, Fabulosity, Fashion, Fashion Is Fun, Fashion Victims Unit, Gay Marriage, Law Schools, Morning Docket, New Jersey, Police, Securities Law, Wall Street
Morning Docket: 02.14.12
* 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 […]
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Biglaw, In-House Counsel, Litigators, Securities Law, Wall Street
Inside Straight: A Requiem To Epiphanies
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 […] -
Advertising, Career Center, Intellectual Property, Lateral Moves, Securities Law, Shameless Plugs, Texas, This Is an Ad
Career Center: State of the Market - Texas (Part 2)
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 […]
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AI’s Impact On Law Firms Of Every Size
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Biglaw, Lawsuit of the Day, Partner Issues, Securities and Exchange Commission, Securities Law
Lawsuit of the Day: Everyone's A Loser in Tamman v. Nixon Peabody
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.... -
Crime, DealBreaker, Insider Trading, Reader Polls, Securities Law, Sentencing Law, Wall Street, White-Collar Crime
An Above the Law / Dealbreaker Debate: Insider-Trading Sentencing
Ed. note: This post was written by Matt Levine, the new editor on our sister site, Dealbreaker, and Elie Mystal. 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 […] -
Biglaw, Crime, Fast Food, Gay, Gay Marriage, Insider Trading, Kids, Labor / Employment, Mergers and Acquisitions, Securities and Exchange Commission, Securities Law, Wall Street, White-Collar Crime
Matt Kluger, Ex-Biglaw Associate Charged With Insider Trading, Is A Gay Dad -- and Once Sued Fried Frank Over It
“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 […] -
Career Alternatives, Feminism, Gender, Non-Sequiturs, Plaintiffs Firms, Secretaries / Administrative Assistants, Securities Law, Women's Issues
Non-Sequiturs: 03.25.11
* Who are the top plaintiffs firms in securities class-action litigation, ranked by 2010 total settlement value? [RiskMetrics / SCAS via WSJ Law Blog] * Protip: if you go to a meeting at Deutsche Bank’s New York offices, avoid the men’s room. [Dealbreaker] * This lawyer has an assistant with an unusual name. [Abuse of […] -
Death Penalty, Deaths, Morning Docket, S.D.N.Y., Securities and Exchange Commission, Securities Law, U.S. Attorneys Offices
Morning Docket: 03.09.11
* The opening of the RaJabba Rajaratnam trial will be gripping, apparently. [Reuters] * 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 […]
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Books, In-House Counsel, Litigators, Securities and Exchange Commission, Securities Law, Shameless Plugs, Wall Street
Inside Straight: FAS 5 Fracas
Ed. note: This is the latest installment of Inside Straight, Above the Law’s column for in-house counsel, written by Mark Herrmann. First, a shameless plug; then, back to business. 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 […] -
Dewey & LeBoeuf, Mark Cuban, Securities and Exchange Commission, Securities Law
Mark Cuban Wants to Pay Government Attorneys to Get Off Their Butts
I’d love for Mark Cuban to own my basketball team. He’s a self-made billionaire who focuses on the fans and (for all the bluster) leaves the basketball decisions to basketball people. Compare that to current Knicks Owner James Dolan — a man living off of his daddy’s success, who thinks he’s smarter than he really […]