(According to the Wall Street Journal, Rajaratnam “is estimated to have paid as much as $40 million for his defense… about two-thirds of the amount prosecutors said [his Galleon Group hedge fund] made from the insider trading addressed in the charges.”)
Raj Rajaratnam, the billionaire leader of the Galleon Group, has been found guilty.
The jury returned a verdict of guilty on all 14 counts Rajaratnam was facing — nine counts of insider trading and five of conspiracy. Rajaratnam could get a sentence of up to 19 and a half years under the federal sentencing guidelines, according to prosecutors.
Check out our sister site Dealbreaker for continuing coverage.
It’s definitely a good Friday over at Akin Gump. The firm just announced spring bonuses.
Better late than never. We’ve been receiving complaints from financially achin’ Akin associates for weeks. Earlier this month, for example, one Akin Gump lawyer complained about the firm not paying spring bonuses despite robust profits in 2010 (profit per partner of $1.6 million, compared to 2009′s $1.5 million).
So Akin Gump partners had a good year in 2010, and now they’re spreading the wealth. Let’s take a look at what they’re doing with spring bonuses….
Although I now live in New York, I lived in D.C. for several years before moving back to NYC. And while I was in Washington, few trial lawyers were more renowned around town than Michele Roberts. A legendary litigatrix celebrated for her skill in the courtroom, Roberts was at Akin Gump — home to other top talent, such as John Dowd, now defending Raj Rajaratnam — from 2004 until recently.
Very recently. Yesterday the news broke that Roberts was leaving Akin Gump and joining global mega-firm Skadden. Skadden trumpeted the news in a press release, noting that Roberts “is widely recognized as one of the nation’s premier trial lawyers,” with over 100 jury trials under her belt.
Roberts has a somewhat unusual background for a Biglaw litigation partner. Let’s learn more about her….
- Akin Gump, Blogging, Google / Search Engines, Insider Trading, John Dowd, Kenneth Starr, Non-Sequiturs, Privacy, S.D.N.Y., Technology, Trials, White-Collar Crime, Yolanda Young
* Superstar criminal defense lawyer John Dowd, the Akin Gump partner who successfully got Monica Goodling (among many other clients) out of legal trouble, offered a rousing defense of Raj Rajaratnam today. [Dealbreaker]
* Ex-Winston & Strawn partner Jonathan Bristol, former counsel to money manager / fraudster Kenneth Starr, has reached a plea agreement with S.D.N.Y. prosecutors. [New York Law Journal via Summary Judgments]
* Elsewhere in Ken Starr news, it seems that some celebs are getting hit with IRS tax liens as a result of their ties to him. [TaxProf Blog]
* Congratulations to a 3L at Harvard Law School, Nneka Ukpai, who trounced the prosecution at trial and won an acquittal for her client. [Yolanda Young / On Being a Black Lawyer]
* Congratulations to a 3L at NYU Law and future S.D.N.Y. law clerk, Eli Northrup, who belongs to a hip-hop band called Pants Velour — which has, in the words of our tipster, “captured the magic of Charlie Sheen as only music can.” [YouTube]
* Republicans won’t have Michael Steele to kick around anymore. [Huffington Post]
* Is WikiLeaks responsible for the Tunisian revolution? [Business Insider]
* Speaking of Tunisia, MLK Day is important and everything — but maybe, just maybe, U.S. officials in Tunisia should GO TO WORK ON MONDAY. Give them a floating holiday or whatever, but given current events, the U.S. Embassy there should probably stay open. [Gawker]
* Meanwhile, Australian lawyers are getting a flood day. [ABA Journal]
* Typo Nazis, here’s something for you. How many spaces should you put between a period and the next sentence? [Slate]
The holidays may be behind us (sigh), but Above the Law’s second annual holiday card contest remains in full swing. Thanks to everyone who responded to our call for submissions. The response was overwhelming.
Perhaps too overwhelming: we received dozens and dozens of nominations. I have literally spent several hours reviewing them all — hours of my life that I can never recover. While a few firms’ holiday e-cards impressed, charmed and even delighted me, the project as a whole made me nostalgic for document review. (It wasn’t nearly as fun as reviewing the entries for our law revue video contest.)
Readers, many of you did not follow contest rule #3: “Please limit submissions to holiday / Christmas cards that you view as worthy contenders. We’re looking for cards that are unusually clever, funny, or cool; we aren’t really interested in cards that are safe.”
Alas, we received many cards that were safe. And boring. In a future post, I’ll poke fun at some of the worst ones. I’ll also give shout-outs to a few cards that were nice, but not nice enough to make the final cut. (That will be the “Honorable and Dishonorable Mentions” post.)
For now, though, let’s view — and vote on — our seven worthy finalists….
Superstar Supreme Court litigator Thomas Goldstein — who has argued 22 cases before the high court, racked up numerous honors from legal and general-interest publications, and, most importantly, served as a judge of ATL Idol — is leaving Akin Gump. Goldstein has led the powerhouse firm’s Supreme Court and appellate practice and serves as presiding co-leader of the firm’s litigation management committee. He arrived at Akin four and a half years ago, back in May 2006, to much fanfare.
Why is Tom Goldstein leaving Akin Gump? And where is he headed?