Whatever happened to the Manhattan district attorney’s investigation into the failure of Dewey & LeBoeuf? It seems like we haven’t heard about it for weeks. Today we finally have some news to pass along.
As we mentioned in Morning Docket, this morning the Wall Street Journal ran a piece about the current state of the investigation. There are a few additional details, but on the whole, we don’t know very much at this point.
We know more about how you can get your hands on part of Dewey’s art collection. Keep on reading for details on that subject….
* “I don’t think that we even need to have a race box on the application.” Abigail Fisher is getting even more time in the spotlight thanks to this media interview, which is sure to be the first of many. [New York Times]
* “[T]hey didn’t do anything wrong civilly — and they certainly didn’t do anything wrong criminally.” Tell that to the prosecutors who are looking into the circumstances of Dewey & LeBoeuf’s epic fail. [Wall Street Journal]
* Lateral hiring in midsize/regional firms seems to be up for those with “real-world experience,” but the starting salaries aren’t anything to write home about — they’re still on the “low” side. [Connecticut Law Tribune]
* Jerry Sandusky’s sentencing hearing is today, and in addition to the tape he already released, he’s planning to read a statement before he receives what’s likely to be a life sentence. WE ARE… kind of tired of hearing about his supposed innocence. [CNN]
* “There are fewer interviews and fewer schools interviewing.” This week, would-be law profs who attend the AALS “meat market” will get a taste of what recent graduates have been experiencing. [National Law Journal]
* Dewey know when Judge Martin Glenn will issue his ruling on the failed firm’s proposed partner contribution plan? If all goes according to plan, we can expect to learn if the PCP’s been approved or rejected as early as next week. [Am Law Daily]
* Hot on the heels of Google’s digital-book settlement, the company announced that it would be appealing its copyright infringement jury verdict in the Oracle trial. One thing’s for sure: Judge Alsup will be angered terribly by this. [Bloomberg]
* David Askew, formerly the director of Edwards Wildman’s pro bono program, will now lead the National Association of Minority and Women Owned Law Firms as CEO and general counsel. [Corporate Counsel]
* The American Bar Association submitted an amicus brief in support of using race as a factor in college admissions, because diversity in college education is a must for diversity in law schools, duh. [ABA Journal]
* Remember the family law judge who got caught beating his daughter in a video that went viral? Now he wants the Texas Supreme Court to reinstate him, over his ex-wife’s objections. Good luck with that. [CNN]
* Yeah, about that huge bonus we were going to pay our ex-finance director — we realized how silly that was, so we’re not going to do that. Aww, don’t worry, Dewey & LeBoeuf, you’ll have plenty of other chances to look absurd. [Am Law Daily]
* Not only is Samsung suing Apple for patent infringement, but the company is also trying to get a do over by getting Judge Lucy Koh to throw out the original billion-dollar verdict over jury foreman Velvin Hogan’s alleged misconduct. [Bloomberg]
* “Small deals are easier to swallow, easier to integrate.” Regional firms like Carlton Fields and Adams and Reese are gobbling up smaller firms in what seems to be the latest trend in law firm merger mania activity. [Thomson Reuters News & Insight]
* Douglas Arntsen, the former Crowell & Moring associate who had to be extradited from Hong Kong after embezzling $10.7M from clients, pleaded guilty in exchange for a lesser sentence. [New York Law Journal]
* It’s tough to come up with appropriate whistleblower jokes given the background here. We’ll play it straight: Mike McQueary filed a defamation suit against Penn State, and he’s seeking $4M in damages. [ABC News]
* Jose Godinez-Samperio, an undocumented immigrant, is fighting for the ability to practice law in Florida, but the members of the state Supreme Court are literally trying to make it into a “federal case.” [Washington Post]
* “This case has nothing to do with the United States.” We’d normally let that slide because of this law from 1789, but now the Supreme Court is suddenly skeptical about the validity of the Alien Tort Claims Act. [Reuters]
* “Why are we being punished for Dewey & LeBoeuf?” Come to think of it, former employees at the failed firm are probably wondering the exact same thing as the fictional characters on “The Good Wife.” [WSJ Law Blog]
* Reduce, reuse, and recycle your claims? New York Attorney General Eric Schneiderman filed suit against JPMorgan, alleging that the bank’s Bear Sterns business defrauded mortgage-bond investors. [Bloomberg]
* A man of many firsts: Randall Eng, the first Asian judge in the state, was appointed to lead New York’s Second Department as presiding justice, the first Asian-American to serve in the position. [New York Law Journal]
* Why shouldn’t you get a dual JD/MBA? Because hiding out in school for another year isn’t going to save you from all of the extra debt you’ve incurred earning yet another degree. [Law Admissions Lowdown / U.S. News]
* 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]
Here’s an interesting irony: some of the Biglaw firms that spend the least amount of time thinking about money are the ones that enjoy the most of it. A number of super-elite New York law firms have lockstep compensation systems, in which partners are paid purely based on seniority, and these firms are among the most profitable in the country. These firms focus on doing great work for their clients, not on divvying up the spoils from such work — and, in the end, there’s more than enough filthy lucre to keep everyone smelling like money.
On an individual level, some of the wealthiest lawyers in Biglaw — the ones who make partner, and remain partner, for years and years — don’t fixate much on money either. They focus instead on their work, which they seem to just love (often more than any hobbies, and sometimes more than their families). As for the money, well, it just comes — in copious quantities.
Last month, we provided you with detailed information about how much various former partners of Dewey & LeBoeuf earned in the last two years of the firm’s existence. We also reported on how much these partners were each being asked to pay into the “Partner Contribution Plan,” a global settlement that would provide these partners with releases from future Dewey-related liability.
At the time of that report, we didn’t know which partners decided to sign up for the PCP and which ones declined the offer. But now we do, thanks to a recent bankruptcy court filing by Dewey.
* Martin Bienenstock, Dewey’s former bankruptcy head, offered some free legal advice to the firm’s bankruptcy advisers: “[P]lease get real about the unfinished business claims.” [WSJ Law Blog]
* In other interesting Dewey news, you’re never going to guess what Steve DiCarmine’s been doing since the firm went under. He of the orange skin tone is making it work at Parsons. [Am Law Daily]
* Remember Kenechukwu Okoli, the guy who slapped a Paul Hastings partner in the face during a depo and then sued him for assault? Yup, that suit got dismissed. [Thomson Reuters News & Insight]
* NerdWallet has created an online law school comparison tool, but users will only get to choose from 50 schools, none of which are in the so-called U.S. News second tier. Guess they don’t think Cooley is the second-best school in the country. How rude. [Bucks / New York Times]
* Cecilia Gimenez, the woman from Spain who accidentally turned a fresco of Christ into a portrait of a monkey, is now seeking royalties from funds the church levied as entrance fees to see her “work of art.” [Telegraph]
* Bridget Mary McCormack, a candidate for Michigan’s Supreme Court, has a simple tip for putting together the best judicial campaign video ever: all you need to do is reunite the cast of The West Wing. Check it out….
* 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 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]
If your firm is in ‘go’ mode when it comes to recruiting lateral partners with loyal clients, then take this quiz to see how well you measure up. Keep track of your ‘yes’ and ‘no’ responses.
1. Does your firm have a clearly defined strategy of practice groups that are priorities of growth for your office? Nothing gets done by random chance, but with a clear vision for the future. Identify the top practice areas for which you wish to add lateral partners. Seek input from practice group leaders and get specifics on needs, outcomes, and ideal target profiles.
2. In addition to clarifying your firm’s growth strategy, are you still open to the hire of a partner outside of your plan? I’ve made several placements that fit this category. The partner’s practice was not within the strategic growth plan of my client, but once the two parties started talking with each other, we all saw how it could indeed be a seamless fit. Be open to “Opportunistic Hires.” You never know where your next producing partner might come from, so you have to be open to it. I will be the first to admit that there is a quirky element of randomness in recruiting.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: firstname.lastname@example.org.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
The traditional job application and interview process can be impersonal, and applicants often struggle to present themselves as more than just the sum of their GPAs, alma maters, and previous work history. ATL has partnered with ViewYou to help job seekers overcome this challenge. ViewYou NOW Profiles offer a unique way for job seekers to make a personal, memorable connection with prospective employers: introduction videos. These videos allow job candidates to display their personalities, interpersonal skills, and professional interests, creating an eDossier to brand themselves to potential employers all over the world. Check it out today!