Faiza Saeed

Isn't it time for the rest of Biglaw to honor women in this way?

Cravath leads in another area.

She left the bench for 'personal reasons,' and headed home to Biglaw.

It's a smart move for Allen Parker, and a great hire by Wells Fargo.

Hooray! The 2016 Biglaw bonus season is now underway!

This elite firm's announcement shows there's no trade-off between equality and excellence.

Which law schools will give you the competitive edge to make your dreams of a career in M&A come true?

* If Republican presidential nominee Donald Trump wins the election, he may be the first president-elect to be standing trial for fraud prior to taking the oath of office. Judge Gonzalo Curiel has tentatively refused to dismiss one of the two pending Trump University cases, saying plaintiffs had met requirements for the case to move forward for a jury to decide whether Trump “participated in a scheme to defraud” students. [San Diego Union-Tribune]

* After being served with a class-action suit alleging she rigged the Democratic primaries and the release of emails in the latest Guccifer hack showing her favoritism for Hillary Clinton over Bernie Sanders, Rep. Debbie Wasserman Schultz is resigning as the Democratic National Committee’s chair after this week’s convention. [CNN; Observer]

* Five senators, including Bob Menendez (D-NJ), Elizabeth Warren (D-MA), Ron Wyden (D-OR), Debbie Stabenow (D-MI), and Cory Booker (D-NJ), have introduced the Student Loan Tax Relief Act, which would exempt forgiven loans from being taxed as income. Law school grads on IBR, ICR, or PAYE should pray this bill is passed. [Forbes]

* In an announcement made before markets opened, Verizon said it would be purchasing Yahoo for $4.83B. It’s rumored that Faiza Saeed, Cravath’s incoming presiding partner — who was appointed to a committee to explore Yahoo’s sale — was the driving force behind the deal, which is expected to close in early 2017. [Reuters; Big Law Business]

* Law firms are apparently in a “weak spot” when it comes to the detection of money laundering operations. That may be how Shearman & Sterling got mixed up with an alleged Malaysian plot to siphon funds from its trust account to purchase luxury items in a scheme that’s turned into an attempted $1B DOJ asset forfeiture. [WSJ Law Blog]

* “No one I know likes law school. It was a bad experience. I wouldn’t wish it on a dog I didn’t like.” Indiana Governor Mike Pence, Donald Trump’s likely vice-presidential running mate, is an attorney whose law license is listed as “inactive in good standing,” and though he had a B average, he apparently hated law school — just like the vast majority of law students. [WSJ Law Blog]

* Faiza Saeed, who on January 1, 2017, will not only become Cravath Swaine & Moore’s first female presiding partner, but the first female to manage any Wall Street firm, will be joining a “sorority” of about 25 women who lead or serve as co-heads of some of the nation’s largest law firms. Congratulations on this historic appointment! [Law.com]

* Justice Ruth Bader Ginsburg may have issued a “mea culpa” with regard to her remarks about presumptive Republican presidential candidate Donald Trump, but legal scholars say her non-apology “does not unring the bell.” At the very least, she may be forced to recuse if Election 2016 turns into a Bush v. Gore situation. [WSJ Law Blog]

* The American Civil Liberties Union has pledged to file constitutional challenges to many of Donald Trump’s would-be political policies should be be elected president and try to enact them. Specifically, the ACLU finds Trump’s stances on immigration, American Muslims, torture, and freedom of speech to be problematic. [ABA Journal]

* The University of Houston Law Center and the Houston College of Law (formerly the South Texas College of Law) will face off in court today to resolve an emergency motion. The original Houston Law seeks to ban the new Houston Law from using its name or logo on merchandise, brochures, and promotional materials. [Houston Chronicle]

Congrats to the first female leader in the legendary law firm's history.

* “[S]he didn’t earn the nickname ‘The Notorious RBG’ for nothing.” During a press briefing yesterday afternoon, White House Press Secretary Josh Earnest said that he was not surprised that Justice Ruth Bader Ginsburg had decided to weigh in about presumptive Republican presidential nominee Donald Trump and his qualifications. [POLITICO]

* In a recent Twitter poll, Law.com asked whether Justice Ginsburg’s comments related to Trump were “out of bounds” for a Supreme Court justice. After thousands upon thousands of user votes poured in, the results were split, with 51 percent responding “no,” and 49 percent responding “yes.” What do you think? Email us. [Law.com]

* Cravath Swaine & Moore partners have elected a new presiding partner to succeed C. Allen Parker. Faiza Saeed is currently the co-head of Cravath’s mergers-and-acquisitions practice, and will soon serve as the first-ever female presiding partner of the firm. Congratulations! We’ll have more on this exciting news later today. [Am Law Daily]

* Like his balls, Tom Brady must be a little down since it looks the challenge to his four-game “Deflategate” suspension has officially been sacked. The Second Circuit has flat-out refused to rehear the case or rehear it en banc, and now the New England Patriots quarterback’s hopes rest on a Hail Mary to the Supreme Court. [Big Law Business]

* It’s well-known that music icon Prince died of an accidental drug overdose without a will, but according to a recent order from the judge presiding over the probate of his estate, a Minnesota law firm that previously represented the singer “might possess confidential information potentially relevant” to who his true heirs are. [USA Today]

* “Elle [Woods] embodies fighting for what is right, staying true to yourself, and defeating the odds.” It’s been fifteen years since the film first hit theaters, but Legally Blonde is still inspiring people to go to law school, despite the bleak employment scene that awaits graduates. Unfortunately, the bend-and-snap won’t win you a job. [People]

How major a move is this, and how much might he make at his new firm?

Mitt Romney's unfortunate "binders full of women" comment at the last presidential debate has become a huge internet meme. At which leading law firm can you assemble your own "binder full of women"?