Clawback provisions

  • Dewey LeBoeuf LLP new logo DL

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Money, Partner Issues, Partner Profits

    Dewey Know Which Partners Signed On To The Partnership Contribution Plan? Yes — And How Much They’ll Pay, Too

    Which high-profile ex-partners of Dewey & LeBoeuf have signed up for the global settlement, and how much are they paying?

    12 Comments / / Sep 21, 2012 at 6:05 PM
  • American Bar Association / ABA, Bankruptcy, Biglaw, Boutique Law Firms, California, Deaths, Federal Judges, Food, Gay, Gay Marriage, Intellectual Property, Law Firm Mergers, Law Firm Names, Law Schools, Legal Ethics, Morning Docket, Movies, Partner Issues, Ruth Bader Ginsburg, SCOTUS, Supreme Court, YouTube

    Morning Docket: 09.20.12

    * Are you ready for some Supreme gossip? In remarks delivered at Colorado Law, Supreme Court Justice Ruth Bader Ginsburg predicted that the Defense of Marriage Act would be argued “toward the end of the current term.” [CBS News]

    * Dewey’s version of trying to curry favor for the proposed $72M partner settlement? Filing a deposition transcript noting that others could’ve also been blamed for D&L’s downfall, but weren’t due to time constraints. Gee, thanks. [Am Law Daily]

    * Novak Druce + Quigg and Connolly Bove Lodge & Hutz will merge to form Novak Druce Connolly Bove & Quigg, the 7th largest IP firm in the U.S. Guess seven name partners was a bit much. [Delaware Law Weekly]

    * Michael McShane was nominated by President Obama to fill a judgeship in Oregon. If confirmed, he’d be one of the few openly gay judges on the federal bench, which, of course, would be absolutely fabulous. [Oregonian]

    * The Institute for Inclusion in the Legal Profession wants the ABA to amend the Model Rules of Professional Conduct to include a duty to promote diversity. Because we clearly need a rule on that. [National Law Journal]

    * Cindy Garcia, an actress from “Innocence of Muslims” is suing, claiming that she was duped into the role under false pretenses. She wants the film removed from YouTube. Everyone else does, too, lady. [Bloomberg]

    * A judge refused to issue an injunction against the California ban on foie gras, instead allowing a suit on the same topic to move forward. Oh mon dieu, judge, think of all the poor Francophiles! [San Francisco Chronicle]

    * Joshua Morse III, former dean of Mississippi Law who defied segregation, RIP. [New York Times]

    6 Comments / / Sep 20, 2012 at 9:09 AM
  • Cecily A. Dumas

    Bankruptcy, Biglaw, Howrey LLP, Money, Partner Issues, Quote of the Day

    Quote of the Day: What’s In A Name?

    If you’re a non-equity partner, are you really even a partner at all? That’s the question raised in ongoing Howrey bankruptcy litigation.

    16 Comments / / Sep 19, 2012 at 4:55 PM
  • William Baer

    Antitrust, Bankruptcy, Biglaw, Books, Clarence Thomas, Department of Justice, Dewey & LeBoeuf, Football, Law Professors, Law Schools, Money, Morning Docket, Pro Bono, Religion, SCOTUS, Senate Judiciary Committee, Sentencing Law, Supreme Court

    Morning Docket: 09.18.12

    * “We’re all from the Ivy League. That seems to be more relevant than what faith we are.” SCOTUS Justice Clarence Thomas really knows how to make Article III Groupie’s heart sing. [New York Times]

    * Dewey know why this failed firm’s bankruptcy team is cutting special deals with the former D&Lers who worked on the sale of the Dodgers? Like all things Biglaw, it all circles back to money. [WSJ Law Blog]

    * What in William Baer’s past might lead the Senate Judiciary Committee to hold a closed meeting on his candidacy to lead the DOJ’s Antitrust Division? [Blog of Legal Times]

    * In a heartwarming pro bono project, Proskauer Rose will be representing NYC in its attempts to evict an elderly newsstand operator from his kiosk in Greenwich Village. It really brings a tear to your eye, doesn’t it? [New York Post]

    * Jerry Sandusky will be sentenced on October 9, and prosecutors are asking that he be classified as a sexually violent predator. Boy, that’ll be a fun title to have while he’s in jail for the rest of his life. [Bloomberg]

    * “[A]t present, the large majority of law graduates — perhaps 80 percent — end up worse off after going to law school that they were before they enrolled.” Paul Campos is so cheerful in his book. [National Law Journal]

    7 Comments / / Sep 18, 2012 at 9:19 AM
  • Kate Middleton

    9th Circuit, Alex Kozinski, Bankruptcy, Biglaw, Breasts, Dewey & LeBoeuf, H. Rodgin Cohen, Morning Docket, Pictures, Privacy, SCOTUS, Supreme Court, Supreme Court Clerks, United Kingdom / Great Britain

    Morning Docket: 09.17.12

    * Come on, people, Dewey really think that it’s fair that these proposed partnership clawback settlements blame only us for the firm’s implosion? The Steves and ex-CFO Joel Sanders don’t think so. [Bloomberg]

    * “[E]ven if partners’ capital contributions were used to repay Dewey’s indebtedness—so what?” Well, that’s certainly one way to defend a suit alleging Citibank’s participation in a Ponzi-like scheme. [Am Law Daily]

    * A $280K bonus sure seems nice, but do all Supreme Court clerks choose life in Biglaw once they’ve completed their stints at the high court? As it turns out, the answer is no — some view the money as “golden handcuffs.” [Wall Street Journal]

    * Because nobody can ogle these crown jewels except Prince William: the royals’ potential suit against Closer magazine over topless pics of Kate Middleton has turned into full-blown privacy proceeding. [New York Times]

    * If you’re struggling in law school, it may be wise to take some advice from those who’ve been there before you, like SullCrom’s Rodge Cohen, the Ninth Circuit’s Chief Judge Alex Kozinski. [National Law Journal]

    7 Comments / / Sep 17, 2012 at 9:11 AM
  • Jewel v Boxer 2 small

    2nd Circuit, Bankruptcy, Biglaw, California, Dissolution, Lateral Moves, Partner Issues, Partner Profits, Robinson & Cole, S.D.N.Y., Thelen Reid & Priest, Thelen Reid Brown Raysman & Steiner

    A Welcome Ruling for the New Law Firms of Refugees from Bankrupt Firms

    A decision just handed down by a judge of the Southern District of New York has important implications for law firm dissolutions.

    5 Comments / / Sep 4, 2012 at 4:58 PM
  • Kim Kardashian

    Bankruptcy, Biglaw, Boutique Law Firms, Celebrities, Constitutional Law, Dewey & LeBoeuf, Law Firm Mergers, Morning Docket, Partner Issues

    Morning Docket: 08.30.12

    * Apparently spring bonuses don’t make the Biglaw world go ’round after all. The annual Am Law midlevel survey is out, and satisfaction levels are up across the board. Maybe they’re happy to still be employed. [American Lawyer]

    * When Dewey get to retire this used up, old D&L pun? Probably around the same time as that Howrey joke — never. Oh, and the firm asked a bankruptcy judge to approve its $70M partner “clawback” plan. [WSJ Law Blog]

    * Oh mon dieu, it’s time for some law firm merger mania! DLA Piper, the second-largest Biglaw behemoth, proposed to French firm Frieh Bouhenic, and of course, the corporate boutique said “oui.” [Legal Week]

    * Judicial efficiency: Judge Robert Hinkle says he’ll block Florida’s regulations on voter registration groups just as soon as an appeals court boots the state’s arguments. [Bloomberg]

    * Judge Kenneth Lester Jr. will step down as judge in the George Zimmerman case after using “disparaging” language in a bail order. Zimmerman’s probably hoping that the third judge will be the charm for him. [CNN]

    * Kim Kardashian settled her suit against The Gap over the company’s use of a look-alike actress in an Old Navy commercial. Sigh. She’ll keep getting paid, no matter what we do. [Hollywood, Esq. / Hollywood Reporter]

    4 Comments / / Aug 30, 2012 at 9:09 AM
  • A Shirvell Photoshopportunity?

    Bankruptcy, Baseball, Biglaw, California, Defamation, Dewey & LeBoeuf, Morning Docket, Partner Issues, Pornography, Prostitution, Sex

    Morning Docket: 08.17.12

    * “I don’t think I should have to pay anything back, because I wasn’t part of the management that drove the firm into the ground.” Dewey know when it’s time to stop complaining, pay up, shut up, and move on? [DealBook / New York Times]

    * Good news, everyone! According to the Citi Midyear Report, based on the first half of 2012, Biglaw firms may have trouble matching last year’s single-digit profit growth. You thought the worst was over? How embarrassing for you. [Am Law Daily]

    * Apparently Andrew Shirvell didn’t do a very good job questioning himself on the stand, because the former Michigan AAG now has to shell out $4.5M in damages for defaming Chris Armstrong. [Detroit Free Press]

    * Six of one, half a dozen of the other: Barry Bonds’s lawyers filed a reply brief in their appeal of his obstruction conviction, arguing that his statements were truthful but nonresponsive, as opposed to being misleading. [AP]

    * “We’re crazy about sex in the United States. I call it ‘sexophrenia.’” The Millionaire Madam’s attorney had a nutty yesterday after a judge refused to dismiss a prostitution charge against his client. [New York Daily News]

    * The opposite of a fluffer? Los Angeles officials seeking to enforce the city’s new adult film condom law are beginning a search for medical professionals to inspect porn shoots for compliance. [Los Angeles Times]

    12 Comments / / Aug 17, 2012 at 9:10 AM
  • Dewey LeBoeuf logo large

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Money, Partner Issues, Partner Profits

    Dewey Have Data on How Much Partners Got Paid? Yes — Thanks to the Partner Contribution Plan

    Here are spreadsheets showing how much Dewey’s 109 most highly compensated partners earned in 2011 and 2012, along with how much they are being asked to contribute in “clawbacks” under the “Partnership Contribution Plan.” Enjoy!

    31 Comments / / Aug 16, 2012 at 1:07 PM
  • lindsay-lohan

    Bankruptcy, Biglaw, California, Celebrities, Defamation, Dewey & LeBoeuf, Law Schools, Lindsay Lohan, Michael Jackson, Money, Morning Docket, Partner Issues, Pro Bono, Rap, Small Law Firms, Unemployment

    Morning Docket: 08.16.12

    * Dewey have some false expectations of success for this partner settlement agreement? Only one in four affected partners have signed on the dotted line, but advisers think the plan will win bankruptcy court approval. [Am Law Daily]

    * “There comes a point where the prospects of substantially increasing your income just outweigh everything else.” Even on his $168K salary, this appellate judge wasn’t rich in New York City, so he quit his job. [New York Law Journal]

    * The middle class needs lawyers, and unemployed law school graduates need jobs. The solution for both problems seems pretty obvious, but starting a firm still costs money, no matter how “prudent” you are. [National Law Journal]

    * “This is a time when law schools are trying to look carefully at their expenses and not add to them.” New York’s new pro bono initiative may come at a cost for law schools, too. [Thomson Reuters News & Insight]

    * Much to Great Britain’s dismay, Ecuador has announced that it will grant political asylum to Julian Assange of Wikileaks fame. Sucks for Ecuador, because Assange is known to not flush the toilet. [New York Times]

    * A smooth criminal gets a break: Michael Jackson’s father dropped a wrongful death suit against Dr. Conrad Murray. It probably would’ve been helpful if his attorneys could actually practice in California. [Washington Post]

    * Did Lindsay Lohan’s lawyers plagiarize documents from internet websites in their defamation filings against Pitbull? You can deny it all you want, but his lawyer is out for blood and sanctions. [New York Daily News]

    10 Comments / / Aug 16, 2012 at 9:12 AM
  • Jaynie Mae Baker

    9th Circuit, Bankruptcy, Biglaw, Career Alternatives, Copyright, Goldman Sachs, Job Searches, Law Professors, Law School Deans, Law Schools, Manatt, Phelps & Phillips, Money, Morning Docket, Partner Issues, Prostitution

    Morning Docket: 08.15.12

    * What do Tiger Woods’s sexts, Anthony Weiner’s wiener, and the newsworthiness exception to copyright infringement have in common? They’re all in this colorful Ninth Circuit dissent. [National Law Journal]

    * Dewey have any idea when this “clawback” deadline will stop being extended? Partners have again been granted another extension to sign on the dotted line, but this time for only 48 hours. [WSJ Law Blog]

    * If your reason for resigning from your position as a congressman has to do with “increasing parenting challenges,” becoming the managing director of Biglaw practice group likely isn’t a wise choice. [POLITICO]

    * A shareholder suit filed against Goldman Sachs over mortgage-backed securities and early TARP repayment was dismissed. I didn’t watch the Daily Show last night, but I’m sure Jon Stewart had a great joke. [Reuters]

    * Musical deans? Hot on the heels of Jeremy Paul’s announcement that he was leaving for Northeastern, Professor Willajeanne McLean has been appointed as interim dean at UConn Law. [Connecticut Law Tribune]

    * Law school didn’t build that: as it turns out, a juris doctor isn’t as versatile a degree as it’s made out to be. Just because you managed to get a good non-law job, it doesn’t mean a J.D. helped you. [Am Law Daily]

    * Jaynie Mae Baker, the Millionaire Madam’s sidekick, has struck a plea deal with the DA. She won’t be going to jail for her adventures in high-class hooking, and might walk away without a criminal record. [New York Post]

    3 Comments / / Aug 15, 2012 at 9:07 AM
  • Biglaw, Document Review, Federal Judges, General Counsel, In-House Counsel, Litigators

    Inside Straight: Clawback Agreements — An Oft-Missed Trick

    I recently heard a panel of judges speak about e-discovery issues. Their opinions on several subjects varied, but on one subject they agreed unanimously: Clawback provisions under Federal Rule of Evidence 502 are valuable tools in most significant litigation, but they remain rarely used. This piqued my interest, so I asked several in-house litigators (not […]

    15 Comments / / Jun 9, 2011 at 11:17 AM

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