Clawbacks

  • Dewey & LeBoeuf's sign at 1301 Avenue of the Americas. (Photo by David Lat.)

    Bankruptcy, Biglaw, Dewey & LeBoeuf

    Dewey Know A Third Former Partner Driven Into Personal Bankruptcy?

    How does a rainmaker earning millions of dollars a year wind up in personal bankruptcy?

    15 Comments / / Dec 15, 2014 at 4:01 PM
  • law_school LF

    Bankruptcy, Basketball, Biglaw, Dewey & LeBoeuf, Gender, Law School Deans, Law Schools, Legal Ethics, Morning Docket, Partner Issues, Women's Issues

    Morning Docket: 11.04.14

    * “When a law firm is on a verge of insolvency, the last thing you want is for the most productive partners to leave.” The latest ruling in the Dewey & LeBoeuf case has Biglaw partners talking about “run[ning] for the exits.” [New York Law Journal]

    * Oh mon dieu! Thanks to a botched French translation of an English press release, the Cote d’Ivoire Bar Association may file criminal proceedings against two Orrick Herrington & Sutcliffe attorneys for fraud. [Am Law Daily]

    * Michele Roberts, the former Skaddenite who’s now the first woman to lead the National Basketball Players Association, thinks women need to learn how to develop business. [National Law Journal]

    * It seems that the dean of Brooklyn Law School has willingly signed up to be roasted by some of his students. This might be a bad decision on his part, but he’s a brave human being. [Brooklyn Daily Eagle]

    * What’s the “right” number of law schools to apply to, and how can you figure out what the “right” number is for yourself? It’s magic, plain and simple. [Law Admissions Lowdown / U.S. News & World Report]

    13 Comments / / Nov 4, 2014 at 8:50 AM
  • buff jill

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Federal Judges, Football, Labor / Employment, Morning Docket, Native Americans, Partner Issues

    Morning Docket: 05.16.14

    * Congrats to Diane Humetewa, the first Native American woman to serve as a federal judge in United States history. You’d think this achievement would’ve already been reached. [Arizona Daily Star]

    * When your case is compared to a law school exam, and the judge uses the number “bazillion” to describe the problems that could happen, it sucks to be you, Detroit. [DealBook / New York Times]

    * Dewey know when this failed firm actually went belly up? It’s liquidating trustee says D&L was insolvent in 2009, and wants $22.5 million from ex-international partners in his latest clawback suits. [Am Law Daily]

    * The managing partner of Seyfarth Shaw refers to his firm as the “Costco of corporate legal services” because it’s a place where you can “get more for less.” What’s the membership fee? [Chicago Tribune]

    * The Buffalo Bills filed a motion to dismiss the wage and hour suit put forth by the disgruntled members of its cheerleading squad, the Buffalo Jills. You better hope that motion survives the “jiggle test.” [CBS Sports]

    0 Comments / / May 16, 2014 at 9:08 AM
  • A Supreme cat fight?

    Bankruptcy, Biglaw, Education / Schools, Howrey LLP, Law Professors, Law Schools, Morning Docket

    Morning Docket: 05.08.14

    * Footnote fight! Justice Sonia Sotomayor has been clashing with quite a few of her fellow Supreme Court jurists lately, aside from Chief Justice John Roberts. She recently inspired the wrath of Justice RBG herself. [New York Times]

    * After months of being poked and prodded for cash, 60 former Howrey equity partners have reached clawback deals with bankruptcy trustee Allan Diamond, and it looks like a few of them agreed to pay pretty hefty sums. [Am Law Daily]

    * Here’s a headline we could’ve told you was coming: “The US lawyer bubble has conclusively popped.” It’s not a terribly good decision to attend now, but if you do, people who can’t pay you need your help. [Quartz]

    * Cutting law school tuition may be a good idea to attract more students, but in the long run, it could hurt the schools, says Moody’s. Aww, let us shed some tears for those poor law schools. [WSJ Law Blog]

    * Crim Law prof not guilty of… crime. Stephen Smith of Notre Dame Law was acquitted on a misdemeanor invasion of privacy charge, and the felony battery charge he faced was dismissed. [South Bend Tribune]

    * The University of Arizona will be the first school in the U.S. to offer a bachelor’s degree in law. The degree is being marketed to people who eventually want to have lots of law-related debt. [National Law Journal]

    2 Comments / / May 8, 2014 at 9:10 AM
  • patton boggs logo

    Airplanes / Aviation, Bankruptcy, Biglaw, Dewey & LeBoeuf, Morning Docket, Partner Issues, Patton Boggs

    Morning Docket: 04.01.14

    * Maybe things are getting better. Per the latest Law Watch Managing Partner Confidence Index, Biglaw partners have shown an uptick in confidence in the first quarter of 2014. [Am Law Daily]

    * Thanks to this ruling, Chevron can sue Patton Boggs over claims it engaged in fraud during the Ecuador case. Don’t worry, we’re sure the merger with Squire Sanders will be just fine. [Reuters]

    * Dewey know how much the latest clawback suit seeks from this failed firm’s ex-COO? About $9.3 million, for his “astronomically generous” employment contract. [WSJ Law Blog (sub. req.)]

    * No more “unfounded” filings for this unfound plane: A firm’s attempts to get documents from Malaysian Air to file a possible lawsuit have been thwarted by a judge, with the possibility of sanctions. [Bloomberg]

    * When your “concerned uncle” is writing to a pre-law adviser about your future when you haven’t even gone to college yet, you know you’re probably destined to be a gunner. [Law Admissions Lowdown / U.S. News]

    3 Comments / / Apr 1, 2014 at 9:05 AM
  • bankruptcy RF

    Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Money, Partner Issues, White & Case

    Dewey Know A Biglaw Partner Driven Into Personal Bankruptcy By The Firm’s Collapse?

    How does a Biglaw partner with a six-figure income wind up in personal bankruptcy? It’s hard out here for a service partner….

    29 Comments / / Jan 16, 2014 at 12:22 PM
  • 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
  • Someone's excited about fashion law!

    8th Circuit, 9th Circuit, Abortion, Bankruptcy, Barack Obama, Biglaw, Celebrities, Constitutional Law, Copyright, Deaths, Fashion, Kiwi Camara, Law Professors, Law Schools, Money, Morning Docket, Richard Epstein

    Morning Docket: 09.12.12

    * Good news, everyone! According to Citi’s Managing Partner Confidence Index survey, firm leaders are feeling pessimistic about their business due to an overall lack of confidence in the economy. [Am Law Daily]

    * Per the Ninth Circuit, an Idaho statute that essentially criminalizes medication-induced abortions imposes an undue burden on a woman’s ability to terminate her pregnancy. Really? You don’t say. [Bloomberg]

    * Kiwi Camara’s circuitous route to SCOTUS: thanks to the Eighth Circuit, Jammie Thomas-Rasset started and ended her journey with $222K damages for copyright infringement. [Thomson Reuters News & Insight]

    * “Fashion law is a real career choice,” says Gibson Dunn partner Lois Herzeca. This niche practice area is one of the hottest new trends in the wonderful world of fashion, and it’s not likely to go out of style any time in the remote future. [Reuters]

    * Your clawback suit is a wonderland? John Mayer was named as a defendant in a suit filed by trustees seeking to recover money paid out by Ponzi schemer Darren Berg. [Bankruptcy Beat / Wall Street Journal]

    11 Comments / / Sep 12, 2012 at 9:06 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

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