Initial Public Offering

Amanda Bynes

* SCOTUS seems divided over its greenhouse gas regulation case. Just remember, justices, there’s “no such thing as greenhouse gas,” and if you think there is, you can “go f@ck yourself and die.” [Legal Times]

* DLA Piper, Fenwick & West, and William Fry are advising on the King.com (aka Candy Crush) IPO. Cool. Know that the public will refuse to invest until those damn chocolate blockers go away. [The Lawyer]

* “Guys like them are the reason people hate lawyers.” When your lawyers do you this badly, you end up living in one of their homes as part of a settlement. Of course this happened in Florida. [Sun Sentinel]

* If you’re in the market for an apartment, we hear Brooklyn Law School just sold a bunch of its student housing to a real estate developer. Per the dean, the school is now so small the apartments were unnecessary. Yikes. [Brooklyn Daily Eagle]

* Amanda Bynes took a plea deal on her DUI charge. She’ll serve three years of probation and pay a fine. Maybe when she’s done, she’ll pull a Lohan and appear naked in a movie. Young men can hope. [CNN]

Sorry, SCOTUS.

* A study revealed that almost half of all links in online Supreme Court opinions are dead, but at least internet pranksters like this guy have been given a chance in the spotlight. [New York Times]

* CHECK YOU [BLACKBERRIES] OFTEN, because firms like Shearman & Sterling, McCarthy Tétrault, Skadden Arps, and Torys will advise on the ancient technology’s private sale. [Am Law Daily]

* We hope this IPO isn’t imported from Detroit. Chrysler filed a prospectus with the SEC yesterday with the help of attorneys from Sullivan & Cromwell and Cravath. [DealBook / New York Times]

* Paul Bergrin, more commonly known as the “Baddest Lawyer in the History of Jersey,” was handed a life sentence yesterday. At least he’ll have street cred with his gen pop friends. [WSJ Law Blog (sub. req.)]

* If you’re still thinking of applying to law school now, you must be the kind of person who needs advice on how to go to college and fill out applications, all at the same time. [Law Admissions Lowdown / U.S. News]

A real 'Lewis' Vuitton?

* “At the Supreme Court, those who know, don’t talk. And those who talk, don’t know.” If that’s the case, then there must be a lot of people who “don’t know” — it’s rumored that the Court’s decision on Obamacare will be released today. [CNN]

* Dewey know what kind of news this week’s conference call will bring for the failed firm’s former partners? On Tuesday afternoon, we might get some information on the status of a global partner contribution plan. [WSJ Law Blog]

* Guys in my high school ambassadorial nominations pool used to have extramarital affairs with WSJ reporters all the time, it was no big deal. Obama still supports Brett McGurk, despite his racy emails. [Reuters]

* The $64,000 question in the Jerry Sandusky case: will the allegedly histrionic former football coach take the stand to testify in his own defense? He should, because apparently it’s his “only shot.” [Legal Intelligencer]

* Looks like Facebook decided to initiate the use of a proverbial “dislike” button when the company pointed the finger at NASDAQ in defense against dozens of lawsuits over its incredibly glitchy IPO. [New York Daily News]

* It’s actually possible to have an “offensive personality” as a matter of law: former prosecutor Kenneth “I Am the Prize” Kratz will plead no contest to six ethics violations for his sordid sexting scandal. [Associated Press]

* “Careful … that is a Lewis [sic] Vuitton.” It seems that at least one federal judge in Manhattan holds comedic value to a higher standard than our favorite fashion house’s trademark infringement claims. [Chicago Tribune]

* Loose lips may sometimes sink ships, but not all gossip is bad. After all, without gossip, your ATL editors wouldn’t be able to bring you some of the juiciest stories out there in the legal world. [New York Times]

A Biglaw firm gets screwed...

* Dewey have some novel issues for our bankruptcy lawyers, or what? As we noted last night, now that D&L has filed for Chapter 11, they’ll have to deal with bank debt, and bondholders, and possible criminal proceedings, oh my! [New York Law Journal]

* And did we mention that Dewey’s defectors and their new firms might get screwed out of millions thanks to the recent Coudert decision? You really should’ve tried to finish up your business before the firm flopped. [WSJ Law Blog]

* Our SCOTUS justices’ summer plans don’t include debating the results of their landmark health care and immigration cases. They’ll be off to fabulous destinations to teach by the first week of July. [Associated Press]

* A federal judge in Brooklyn doesn’t like what seems to be happening in the “game of grams” when it comes to mandatory minimum drug sentencing. Perhaps the DOJ will heed his call for reform. [New York Times]

* Facebook’s IPO was an epic fail, but it’s been great business for plaintiffs lawyers. Twelve securities class action firms are gathering leads and getting ready to sue, and two have already sued. [National Law Journal]

* This wasn’t exactly well planned: if you’re involved in state politics, it’s probably not a good idea to fake a legal internship with a state representative so that you can graduate from law school. [Concord Monitor]

* In happier news, a New York Law School graduate walked across the stage to receive her diploma with the help of her seeing-eye dog. The pooch hasn’t lifted a leg on her law degree… yet. [New York Daily News]

... and so do folks down under.

* “Brothels are never going to be a vote winner.” But even so, if you’re looking to get it in down under, a plan to build Australia’s largest cathouse may soon gain approval if lawyers are able to do their work quick and dirty. [Bloomberg]

* Thanks to this case, stupid teenagers in New Jersey who send texts to others that they know are driving can now revel in the fact that they can’t be held liable for injuries that may occur thanks to careless driving. [New Jersey Law Journal]

Facebook went public less than a week ago. But, not unexpectedly, a lot has happened in the few days since. As with many highly anticipated events (e.g., the Star Wars reboot and Barack Obama’s presidency) a lot of the reaction to Facebook’s IPO has been negative and filled with disappointment.

We’ve already got shareholder lawsuits against Facebook and the NASDAQ stock exchange, a privacy lawsuit settlement, and questions about how the IPO may have revealed broader problems about the way the system works. On the upside, the company’s GC, Ted Ullyot, has been making headlines in a more positive way, which is to say the dude is making mad bank for someone working in-house.

Let’s dig in….

double red triangle arrows Continue reading “What’s Been Happening at Facebook Since the IPO?”

* How many friend requests did these firms just get? Fenwick & West and Simpson Thacher are the Biglaw stars of Facebook’s S-1 filing for its $5B initial public offering. Like. [Am Law Daily]

* The prosecution is expected to make its arguments today in Julian Assange’s appeal of his extradition from the U.K. to Sweden. Hope it won’t affect his role on The Simpsons. [CNN]

* Adventures in fourth-tier second-tier law school marketing: go to the University of Dayton School of Law, take a tour, and get your first-year textbooks for free. Mmm, the sweet smell of bribery. [National Law Journal]

* The little hybrid that could: Heather Peters, the former lawyer who decided to sue Honda in small claims court, has won her case. Maybe she should reconsider her career options? [Los Angeles Times]

* Looking for a way to shield your assets during a wrongful death suit? Just adopt your adult girlfriend. It has “nothing to do with the lawsuit” — dude just wants to bang his daughter. No big deal. [Palm Beach Post]

* Unpaid internships are so last season. A former intern for fashion mag Harper’s Bazaar wants class action certification for a lawsuit claiming that her free labor violated wage and hour laws. [New York Times]