Bank of America
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Morning Docket
Morning Docket: 08.31.17
* Colin Kaepernick’s lawsuit against the NFL alleging collusion between NFL teams will be allowed to go forward, at least to a full hearing. [Slate]
* A former NBC exec says the network threatened to smear Ronan Farrow if he kept investigating Harvey Weinstein. [Daily Beast]
* Proskauer settles lawsuit over the work the firm did for convicted Ponzi schemer R. Allen Stanford… to the tune of $63 million. [New York Law Journal]
* A Mueller bombshell to drop by 5pm today? We’ll be watching. [Mediaite]
* Inside the fight to deregulate the U.K. legal market. [The Financial Times]
* Microsoft is doubling down in making sure its outside law firms (and other suppliers) provide paid parental leave for their employees. [Corporate Counsel]
* Bank of America is facing backlash after freezing accounts of people they suspect as being non-U.S. citizens. [Huffington Post]
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Biglaw
Back To Biglaw: Former BoA Vice Chair Returns From Whence He Came
Gary Lynch is ready to practice law again. - Sponsored
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Benchslaps, Wall Street
Egregious Fact Pattern Earns Bank Of America A Scathing, $45+ Million Benchslap
Just how much villainy can one bank get into?
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Banking Law
FDIC To Bank Of America: We Could Use That $1 Billion About Now, Capisce?
The Federal Deposit Insurance Company has accused Bank of America of pulling the wool over regulators’ eyes in calculating a quarterly measure of complexity, saving the bank at least $1 billion in insurance payments since 2011. -
Document Review, Litigators
Firm In Hot Water Over Its Use Of Temp Attorneys
Temporary attorneys are still real lawyers. -
Politics
Big Banks Totally Forgot That They Had Other Plans During This Year’s GOP Convention
The big guys see attending Trump’s party as the true mistake by the lake. -
Sexism
Bank Of America Has Never Heard Of This ‘Bro Club’ Of Which You Speak
Most people with brains understand that when lawyers used the phrase “Bro’s Club,” they were not referring to an official club that meets regularly. -
Morning Docket
Morning Docket: 07.12.16
* How would a Gingrich VP run impact Dentons? Because Gingrich getting a 4-month vacation is the most pressing question about the Trump ticket at this point. [The Am Law Daily]
* North Carolina enacts legislation to keep police cam footage out of the public record in a move that isn’t a cynical cover up effort at all. [ABC 11]
* International arbitration panel rules against China’s claims to South China Sea territory. It’s like that apocryphal story about Andrew Jackson saying of John Marshall “let him enforce it” if Andrew Jackson was armed with nuclear weapons. [Huffington Post]
* The Department of Justice is going to bat to protect the Department of Labor’s fiduciary rule as plaintiffs beg judge to take a bat to the Department of Labor’s fiduciary rule. [The National Law Journal]
* In a pending gender bias suit, Bank of America denies having a “Bro’s Club” culture. I’m fuzzy on the regulations, but I’m pretty sure in that statement BofA just forfeited its status as a “bank.” [Law360]
* Did you know prison laborers are planning to go on strike on September? Me neither, but there you go. [Occupy]
* Straightforward review of the CFTC’s proposed Regulation AT aimed at the practice of automated trading. [Morrison Cohen]
* University of Houston Law Center professor and former dean Stephen Zamora died last week. He was 72. [UH Law Center]
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Associate Salaries, Biglaw, In-House Counsel, Money
Some Clients Are Super Pissed About Associate Raises
This client sees no reason for associate raises. -
Money, Wall Street
Hey, Not EVERY Big Bank Got Its Living Will Plan Rejected By Regulators
For one shining moment, Citi CEO Michale Corbat was Wall Street's most special boy. -
Money, Wall Street
BofA Merrill Paying $14 Million Apology To The Millennial Trainees It Treated Like Old-School Trainees
Banks learning the hard way that kids these days will sue for working weekends. -
Finance, In-House Counsel
Bank of America Whistleblower Wins $57 Million Decision
In what is being considered a record, landmark case, a former bank executive at Countrywide Financial (now owned by Bank of America Corporation) was awarded $57 million for exposing the presence of fraud in the company’s mortgage practices. -
Finance
Orrick's Financial Industry Week in Review
On December 2, the Federal Financial Institutions Examination Council (FFIEC) released the revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
Sponsored
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Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
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Benchslaps, Drugs, Football, Law Schools, Morning Docket
Morning Docket: 08.29.14
In honor of the Simpsons marathon let’s introduce each of these with a Simpsons quote.
* Dr. Hibbert: And hillbillies want to be called “Sons of the Soil,” but it ain’t gonna happen. — BofA wants that $1.3 billion verdict tossed as “unreasonable.” [Law360]
* Superintendent Chalmers: Oh, I have had it, I have had it with this school, Skinner! The low test scores, class after class of ugly, ugly children! — Suffolk University fired its president just days before school began. I’d like to think it was over their subway ads. In any event, the interim president seems to get the problem: “‘I don’t think there’s growth there,’ he said, referring to [law school] enrollment.” [Boston Globe]
* Homer: Barney’s movie had heart, but “Football in the Groin” had a football in the groin — College football kicked off last night (or Wednesday if we cared about Georgia State), so check in with the lawyer for the USC player who pretended he injured himself saving his nephew’s life. [Deadspin]
* Lionel Hutz: There’s the truth and… the truth! — Bracewell & Giuliani partner, Glenn A. Ballard Jr., got benchslapped in Texas for “an affront to this court, to the other parties and to judicial integrity.” Everything’s bigger in Texas. [Houston Chronicle]
* Chief Wiggum: You have the right to remain silent. Anything you say blah blah blah blah blah blah. — After Philip Seymour Hoffman’s overdose, the police actually arrested a jazz musician. He got no jail time after he hired a new lawyer, Alex Spiro, who went after the cops for taking advantage of his client. [NY Daily News]
* Jimbo: You let me down, man. Now I don’t believe in nothing no more. I’m going to law school. — Professor Campos wonders if American University law school will sue students who drop out or transfer? [Lawyers, Guns & Money]
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Deaths, Federal Judges, Non-Sequiturs, Paris Hilton, Patents, Prisons, S.D.N.Y., Technology
Non-Sequiturs: 05.28.14
* In sad news, Judge Harold Baer Jr. died last night. A giant of the Southern District of New York, Judge Baer will be remembered for his sound judicial temperament and his biting wit. [New York Law Journal] * Paris Hilton hit with $2 million lawsuit for breaching a footwear deal. Does anyone still care enough about Paris Hilton to sign her to multi-million dollar sponsorship deals? [Radar Online] * Kamala Harris may have a bright future, but her present has some issues. She started a task force to go after foreclosure consultant fraud and managed to pursue only 10 cases, fewer than her colleagues in other states despite California’s foreclosure crisis. Part of having a prestigious job is actually doing it. [East Bay Express] * A Texas woman has filed suit claiming she was forced to give birth in solitary confinement, begging for — and not receiving — medical care. The baby died. But, hey, the baby came out of her, so it’s not a problem whether it lives any more in conservative Texas. [Feministing] * Judge allows Bank of America to continue foreclosing on the home of Burt Reynolds. And somewhere Alex Trebek smiles. [WPEC] * More on the female brain drain at law firms and how to fix it. [She Negotiates] * 5 awesome charts that prove that patent litigation is officially out of hand. [Vox] * Ray Rice’s lawyer offers a hypothetical of the videotaped altercation between Rice and his now-wife. This is why lawyers shouldn’t use hypotheticals. [Sports World News] * Is there really a “third way” when it comes to Net Neutrality? This article makes a good case for rules allowing providers to take reasonable actions to address the different needs of Skype vs. email. [The Hill] * Law firms are starting to think like media companies. Next thing you know, Biglaw will be all Hollywood. Video after the jump…. [Mimesis Law] -
Banking Law
Bank Gushes About 4Q Profits -- These SEC Filings Sound A Lot More Ominous
When a lawyer hears a company tout good financial news, it's time to scour the latest filings for all the warts. -
Banking Law, Drugs, Environment / Environmental Law, Law Schools, Marijuana, Morning Docket, Patents, SCOTUS, Supreme Court
Morning Docket: 10.24.13
* Parties in the greenhouse gas cases before SCOTUS have agreed to trim the number and length of their briefs to reduce the number of times “go f@ck yourself and die” is written. [Blog of Legal Times]
* The latest patent reform bill up for debate promises that it will put an end to the trolls by forcing them to do more work before filing suit. If only it were that easy to keep the trolls at bay. [National Law Journal]
* Do the hustle, and blame it on Becca! A jury has found that Bank of America is liable for selling defective mortgages, and the potential penalty could be up to $848 million. [DealBook / New York Times]
* Since the law was puff, puff, passed, lawyers in Washington State have politely asked their Supreme Court if and when they’ll allowed to smoke weed and represent clients that sell it. [Corporate Counsel]
* Class certification in the Alaburda v. TJSL lawsuit over allegedly deceptive employment statistics has officially been denied. We guess that all good things must come to an anticlimactic end. [ABA Journal]
* Another law school gets it: the U. of St. Thomas will its freeze tuition at the low, low price of $36,843, allowing students to pay a flat fee for all three years of education. [Campus Confidential / Star Tribune]
* If you’d like to ace your law school interviews (which apparently are a thing these days), it helps if your personality doesn’t inspire ritualistic seppuku. [Law Admissions Lowdown / U.S. News & World Report]
* Michael Skakel, the Kennedy cousin convicted of killing, was granted a new trial due to ineffective assistance of counsel. Getting away with murder? Aww, welcome to the family, Mike! [Washington Post]
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Antonin Scalia, Bankruptcy, Biglaw, Dewey & LeBoeuf, Jury Duty, Law Professors, Law School Deans, Law Schools, Morning Docket, Musical Chairs, New Jersey, Ruth Bader Ginsburg, SCOTUS, State Judges, Supreme Court, Television, Women's Issues
Morning Docket: 09.09.13
* Once again, Justice Ginsburg offers us some perspective on behind the scenes action at the Supreme Court. We bet you didn’t know that “Get over it” is one of Justice Scalia’s favorite expressions. [Politico]
* The chief justice of Delaware’s Supreme Court turned in his resignation papers on Friday, and rumor has it that the legendary Leo Strine will try to replace him. Best of luck, Chancellor! [Reuters]
* “I wasn’t looking for a job.” Paul Aguggia, the chairman of Kilpatrick Townsend & Stockton, will step down to cash in as the CEO of a New Jersey bank where he served as outside counsel. [American Banker]
* This is what it’s like when bankruptcies collide: AMR Corp. is now disputing Dewey’s billables, including 1,646 hours of contractually prohibited work completed by first-year associates. [Am Law Daily (sub. req.)]
* Bank of America is bleeding money in settlement payments. A $39 million payout in a Merrill Lynch gender bias case brings the total to about $200 million in under two weeks. [DealBook / New York Times]
* GW Law starts its dean search next month, and whoever takes the position needs to be good at raising funds, because the school has struggled in that department ever since Dean Berman left. [GW Hatchet]
* An Ivy League law professor tells us the third year of law school is a “crucial resource” to ensure lawyers are well-trained, so classes like “Understanding Obama” must be social imperatives. [Washington Post]
* It seems to me that the only jurors who might be influenced by the depiction of the legal system on Law & Order are the ones who were too dim to figure out how to get out of jury duty. [WSJ Law Blog (sub. req.)]
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9th Circuit, Alex Kozinski, Basketball, Blogging, Craigslist, Health Care / Medicine, Law Schools, Non-Sequiturs, Paralegals, Privacy, Sports, Texas
Non-Sequiturs: 08.20.13
* A chat with Chief Judge Alex Kozinski. Kozinski is the only interviewee who can talk about political oppression and reserve the real shock and horror for jury verdicts. [Concurring Opinions] * On a serious note, a summer intern at Bank of America has died after pulling three all-nighters. Biglaw reminds associates that the lesson here is to get your work done faster. [Gawker via Instapundit] * LeBron James thinks he’s actually above the law. What’s more despicable? Using celebrity to ruin everyone else’s commute so you can watch a concert or being part of the Heat? [Grantland] * Case Western Reserve is changing its legal curriculum out of desperation an effort to revolutionize law school. [Cleveland Plain-Dealer] * Women’s magazines make a ton of demoralizing helpful promises. What if lawyers inserted themselves into the editorial process? [The Tangential] * A Chicago ER doctor is facing a lawsuit over taking and posting pictures of a woman — apparently this “actress, model, and ex-professional tennis player” — who’d had too much to drink. Dr. Carter has really gone downhill. [IT-Lex] * RIP Groklaw, 2003-2013. The stalwart blog has decided to shut down over concerns about government surveillance. [Groklaw] * An attorney in Texas decided to take to Craigslist to rip another lawyer advertising a $10/hour paralegal job. Screenshots of the original and the response after the jump… [Craigslist] -
Banking Law, Crime, D.C. Circuit, Department of Justice, Education / Schools, Federal Judges, Gay Marriage, Law Professors, Law Schools, LSAT, Minority Issues, Morning Docket, New Jersey, Securities Law, State Attorneys General, State Judges, Television, Trials, UVA Law
Morning Docket: 08.07.13
* The speed (or lack thereof) of justice: The DOJ filed suit against Bank of America, alleging that the bank defrauded mortgage-backed securities investors in 2008. [DealBook / New York Times]
* Sri Srinivasan, the newest member of the D.C. Circuit’s bench, is getting ready to hear his first arguments, while litigants try to commit the spelling of his last name to memory. [Legal Times]
* The LSAT is not to blame for the dearth of minority enrollment in law schools, said a UVA Law professor, and then a Cooley Law professor had to swoop in to slap him down. [National Law Journal]
* After teaming up with Touro, the University of Central Florida is working with Barry on an accelerated degree program. The dean of FAMU is upset. Don’t worry, you’ll get your turn, too. [Orlando Sentinel]
* New Jersey is in no rush to legalize gay marriage. To support their views, officials point out that people with civil unions are just like married couples — except for the married part. [New Jersey Law Journal]
* Meanwhile, a judge in Illinois will decide whether she’ll dismiss a challenge to the state’s gay marriage ban by the end of September. In her defense, early fall is a great time for a wedding. [Daily Herald]
* Belvin Perry, the judge who presided over the Casey Anthony murder trial, may be getting his own Judge Judy-esque television show. Oh, Flori-duh, you never, ever cease to entertain us. [MSN News]