Insider Trading

  • loose lips 3

    Biglaw, Crime, Wall Street, White-Collar Crime

    Lawyer of the Day: An Allegedly Loose-Lipped Cravath Associate

    If you’re smart enough to get a job at Cravath, you should be smart enough to keep client confidences, right?

    21 Comments / / Dec 3, 2012 at 4:24 PM
  • Alan Dershowitz, Bar Exams, Gloria Allred, Jeffrey Toobin, New Jersey, Non-Sequiturs, Pets, Violence, Wall Street

    Non-Sequiturs: 11.20.12

    * Better late than never: congratulations to everyone who passed the New Jersey bar exam. You’re just in time to get in on some Sandy class-action litigation. [New Jersey Board of Bar Examiners]

    * Congratulations to all the honorees from the National Asian Pacific American Bar Association conference in D.C. last weekend — including, but not limited to, the Best Lawyers Under 40 awardees. [NAPABA]

    * And congrats to Professor Sherrilyn Ifill, incoming president and director-counsel of the NAACP Legal Defense & Educational Fund, Inc. [Concurring Opinions]

    * Does every bra made in America have Gloria Allred’s phone number sewn into it? [WSJ Law Blog]

    * Who is “Portfolio Manager A” in the latest major insider-trading scandal? [Dealbreaker]

    * You don’t need to be a dog lover to find these allegations abhorrent. [Alabama Live]

    * Want to avoid dating Democrats (or Republicans)? There’s an app — okay, two websites — for that. [Jezebel]

    * After the jump, Jeffrey Toobin and Alan Dershowitz discuss Obamacare….

    Toobin is the author of The Oath (affiliate link). Dersowitz is the new owner of a $1.7 million Manhattan apartment. Their conversation took place last Friday, November 16, at the 92nd Street Y.

    1 Comment / / Nov 20, 2012 at 5:03 PM
  • The 'very, very pretty' Cristina Fierro.

    Biglaw, Department of Justice, Federal Judges, Football, Insider Trading, Law Schools, Money, Morning Docket, Patents, Politics, Sentencing Law, Sex, Sports

    Morning Docket: 10.25.12

    * Covington, Skadden, and Proskauer really like representing professional sports leagues: from 2010 to 2011, the NHL paid a combined total of $8.8M to all three, and Covington received $16.3M from the NFL over the last three years. [Am Law Daily]

    * The Department of Justice sued Bank of America yesterday for doing the “hustle.” No, not the popular disco disco dance, but rather, a supposed elaborate scheme to defraud the government out of billions of dollars. [DealBook / New York Times]

    * Rajat Gupta was sentenced to a whole two years behind bars for insider trading, but my colleague Elie Mystal thinks that the more appropriate punishment would’ve been to force him to reenact the seminal 80s film, Trading Places. [HuffPost Live]

    * Unfortunately, Siri wasn’t able to be helpful with this one. A federal judge had to recuse himself in a patent case involving the Siri voice assistant app because of his “interest” in Apple (likely stock ownership). [CNET]

    * Was Wednesday the day of departing deans? NYU’s Richard Revesz said farewell, and so did Sydney Beckman of Duncan Law, but the latter flat out quit amid accreditation uncertainty. [Knoxville News Sentinel]

    * “We’ll fight another day. This is not over.” While a jury declared that Teresa Wagner wasn’t a victim of Iowa Law’s political bias, a mistrial was called as to her equal protection claim against the school. [Press Citizen]

    * Somebody really should’ve told Lawrence Taylor that when testifying in an underage sex trafficking case, it’s probably not a good idea to mention that your accuser was “very, very pretty” and “very sexy.” [Associated Press]

    2 Comments / / Oct 25, 2012 at 9:05 AM
  • Lindsay-Lohan_82

    Barack Obama, Biglaw, Donald Trump, Election 2012, Gay Marriage, Gloria Allred, Insider Trading, Lindsay Lohan, Morning Docket, SCOTUS, White-Collar Crime

    Morning Docket: 10.24.12

    * While the mainstream media may claim the presidential race between Barack Obama and Mitt Romney is neck-and-neck in a dead heat, the majority of Am Law 200 managing partners are predicting the incumbent will be reelected for another four years. [Am Law Daily]

    * In the meantime, infamous media whores Donald Trump and Gloria Allred have both promised “October surprises” for our presidential candidates. Guess we’ll finally find out what they’re yapping about later today after Allred gets back from court and the Don tweets. [ABC News]

    * “These [lawyers] are my kind of scum. Fearless and inventive.” Raj Rajaratnam’s attorneys plan to appeal his insider trading conviction later this week on claims that the government improperly wiretapped him. [DealBook / New York Times]

    * There’s no way this statute is going to be pushed back into the closet. New York’s Court of Appeals rejected a challenge to the state’s gay marriage law on the basis of a violation of open-meeting laws. [Bloomberg]

    * Lindsay Lohan’s father wants a judge to place the fading star under a conservatorship. Hey, it worked for Britney Spears, right? And on the plus side, it’s a great way to get her name back into the news. [CNN]

    1 Comment / / Oct 24, 2012 at 9:07 AM
  • Steven Nataupsky's résumé?

    Biglaw, Crowell & Moring, Insider Trading, Intellectual Property, Job Searches, Law School Deans, Law Schools, Legal Ethics, Morning Docket, Sentencing Law

    Morning Docket: 10.18.12

    * Conflict of interest? What conflict of interest? We didn’t have a conflict of interest! Covington & Burling is appealing its disqualification from representing Minnesota in a suit against former client 3M. [Capital Business / Washington Post]

    * “If I sent my résumé through the firm, I wouldn’t get looked at.” Knobbe Martens Olson & Bear is hiring so many awesome associates that the firm’s managing partner doesn’t even know if he’d stand a chance. [National Law Journal]

    * Doug Arntsen, the ex-Crowell associate who stole $10.7M in client funds and spent it at strip clubs, was sentenced to four-to-12 years in prison. [New York Law Journal]

    * Music to Benula Bensam’s ears? In a case of dueling sentencing memos, prosecutors want Rajat Gupta to spend 10 years in prison, but his own lawyers want him to be sent to Rwanda. [DealBook / New York Times]

    * Donald Polden, the dean of Santa Clara Law, will be stepping down at the end of this academic year. Hope they’ll be able to find a new dean, because every “influential” school needs one. [San Jose Mercury News]

    1 Comment / / Oct 18, 2012 at 9:07 AM
  • juggalo law sports RF

    Insider Trading, Intellectual Property, Sex Scandals, Sports

    Sports Law, Spaw, Lorts: Graham Spanier Edition

    In today’s sports law column: Graham Spanier, Ryan Lochte, and Eddie Murray.

    6 Comments / / Aug 24, 2012 at 2:44 PM
  • phone

    Department of Justice, Facebook, Google / Search Engines, Insider Trading, Intellectual Property, Morning Docket, Technology, Trials

    Morning Docket: 08.01.12

    * In the Apple-Samsung trial yesterday, Apple’s attorneys accused Samsung of intentionally copying the iPhone. Samsung’s attorney was like, Bro, step off. And then Judge Lucy Koh and all the members of the gallery and the jury crowded around in a circle and started yelling Techno-fight! Techno fight! [Wall Street Journal]

    * Matthew Kluger, formerly of Wilson Sonsini and more recently convicted and sentenced to 12 years in prison for insider trading, gives an interview about what motivated him to commit his crimes. [Bloomberg]

    * France is not happy that Google did not delete all its Street View information from the country after it promised to. Shockingly, some parts of the world apparently still value data privacy. How quaint! [New York Times]

    * Former Perkins Coie partner Harold DeGraff must arbitrate his compensation battle with his former law firm. But the process will not have to be kept confidential. [Thomson Reuters]

    * I’m pretty sure at this point the DOJ is just consulting a Ouija board in its increasingly feeble attempts to prosecute Megaupload. [Wired /Threat Level]

    * UBS is not happy that it lost $356 million on the Facebook IPO. Now it’s suing NASDAQ over the snafu. [CNNMoney]

    4 Comments / / Aug 1, 2012 at 9:01 AM
  • Graduate-Holding-Empty-Piggy-Bank

    Biglaw, Dewey & LeBoeuf, Guns / Firearms, Insider Trading, Law Professors, Law Schools, Morning Docket, Partner Issues, Prostitution, Rankings, Student Loans

    Morning Docket: 06.27.12

    * Pay up or shut up: Dewey former partners need to worry about getting our kneecaps busted by the banks that loaned us money to fulfill our capital contributions? [Am Law Daily (sub. req.)]

    * Senate leaders reached a tentative deal to keep student-loan interest rates at 3.4%. Too bad this only applies to undergrads — law students are still left holding the bag. [Wall Street Journal]

    * Your mom probably told you not to be a tattletale, but evidently that kind of behavior really pays off in court. Adam Smith, formerly of Galleon, was sentenced to only two years’ probation for his “very substantial” aid in Raj Rajaratnam’s insider trading trial. [DealBook / New York Times]

    * Forty-six CEOs on the 2012 Fortune 500 list went to law school, but only four hold degrees from schools outside the U.S. News Top 100, and just one went to an RNP school. Yikes. [U.S. News & World Report]

    * Was this Nova Law professor “mentally deranged enough to engage in a campus shooting rampage”? That’s apparently what members of the administration thought when they fired him. [National Law Journal]

    * Anna Gristina, the accused “Millionaire Madam,” was released last night on $250K bond after spending four months behind bars. Looks like it’s back to the world’s oldest profession for this soccer mom. [Reuters]

    9 Comments / / Jun 27, 2012 at 9:03 AM
  • The Chicago River is only slightly less green when it's not St. Patrick's Day.

    Holidays and Seasons, Insider Trading, Jonathan Lee Riches, Non-Sequiturs

    Non-Sequiturs: 06.15.12

    * America’s favorite serial litigant, Jonathan Lee Riches, wants to make an appearance as former Detroit Mayor Kwame Kilpatrick’s lawyer. [Detroit News]

    * You better run and hide, because the vacuum bandit is coming to town. [Legal Juice]

    * A Chicago reporter fell into in the Chicago sewer system River. He is currently on a respirator, and another court reporter has set up a relief fund for him. Get well soon, Andrew Pitts. [Kruse Reporters Blog]

    * Speaking of Chicago, this could be an Odd Couple reboot: The drug dealer and his roommate, a local prosecutor. What goofy hijinks will they get into next? [Chicago Tribune]

    * This Australian reporter says the American legal system has evolved to conceal truth, not reveal it. See how long you can read this before smoke starts coming out your ears. [The Atlantic]

    * Happy Father’s Day! Even to all the famous, lawbreaking dads out there. [Attorney Fee]

    4 Comments / / Jun 15, 2012 at 4:33 PM
  • Now a dangerous weapon in Massachusetts.

    Biglaw, Canada, Food, Football, Gambling, Gambling / Gaming, Insider Trading, Lateral Moves, Law Schools, Morning Docket, Trials

    Morning Docket: 06.15.12

    * The first day of jury deliberations in the Rajat Gupta insider-trading case ended without a verdict. Benula Bensam’s boredom is epic — the poor girl can’t even blog about the trial anymore. [Bloomberg]

    * Baker & McKenzie is celebrating its 50th year in Toronto, Canada by handing out spring bonuses luring in lateral hires. Welcome aboard to Kent Beattie, formerly of Slavies Davies. [Globe and Mail]

    * You can run, you can hide, but you can’t escape Sandusky’s love. Alleged Victim No. 9 testified that he screamed for help in vain while staying in the former coach’s allegedly “soundproof” basement. [CNN]

    * It’s hard out here for a shoeshiner: Cooley Law grads suing their alma mater over allegedly misleading employment statistics may face an “uphill battle” when it comes to fraud allegations. [WSJ Law Blog]

    * The CEO of Caesars Entertainment has proclaimed that he has “tremendous confidence” that online poker will become legal in the near future. So much for keeping your poker face on that one, eh? [MSN Money]

    * Imagine my surprise when I found out that a yet another man in Springfield, MA, was arrested for assault and battery with a dangerous weapon. Here’s the surprise… the dangerous weapon was wasabi sauce. [TIME]

    2 Comments / / Jun 15, 2012 at 9:02 AM
  • free rent

    Football, Insider Trading, Jed Rakoff, Law Schools, Morning Docket, Paul Clement, Real Estate, SCOTUS, Supreme Court, Trials

    Morning Docket: 06.11.12

    * Have you ever wondered why Justice Clarence Thomas hasn’t spoken during oral arguments before SCOTUS in more than six years? It’s probably because he hates them so much that he thinks we should “do away” with them entirely. [Charlotte Observer]

    * Former Solicitor General Paul Clement, he of unparalleled oral advocacy skills, claims that there’s “no magic formula for time management” — but having a superior legal mind certainly helps the situation when preparing for argument. [Appellate Daily]

    * It’s “highly likely” that Rajat Gupta will won’t take the witness stand to testify in his own defense at his insider-trading trial. Query what Benula Bensam would have written to Judge Rakoff about that. [Los Angeles Times]

    * If you’re thinking of hopping on the “blame the ABA” bandwagon in defense of your employment statistics, think again. A federal judge rejected Cooley Law’s argument on that front last week. [National Law Journal]

    * Meanwhile, Cooley “isn’t interested in reducing the size of its entering class on the basis of the perceived benefit to society,” but at least ten other schools will be reducing class sizes. [Wall Street Journal (sub. req.)]

    * A judge denied Jerry Sandusky’s motion to dismiss the charges against him. The former football coach clearly needed 1-800-REALITY check if he seriously thought that his request was going to be granted. [CNN]

    * If you’re planning on living rent-free in New York City for almost a decade, make sure you’re doing it in a building that isn’t up to code. You’ll never be evicted thanks to this Court of Appeals ruling. [New York Times]

    3 Comments / / Jun 11, 2012 at 9:06 AM
  • QE's Kathleen Sullivan as Lawyer Barbie

    9th Circuit, Bankruptcy, Baseball, Biglaw, Billable Hours, Brown Rudnick, California, Copyright, Dewey & LeBoeuf, Football, Gay Marriage, Health Care / Medicine, Insider Trading, Kasowitz Benson, Kathleen Sullivan, Morning Docket

    Morning Docket: 06.05.12

    * Dewey know the firms that have been tapped to represent the groups that this failed firm owes money to? Yes, we do! Brown Rudnick for the unsecured creditors’ committee, and Kasowitz Benson for the former D&L partners. [Am Law Daily (sub. req.)]

    * The Ninth Circuit is supposed to be issuing an order today regarding an en banc reconsideration request on the Prop 8 case. They really ought to slap a big fat denial on that motherf’er and call it a day so we get some SCOTUS action. [Poliglot / Metro Weekly]

    * Matthew Kluger, most recently of Fried Frank, has been sentenced to 12 years in prison, which is the longest sentence that anyone’s ever received in an insider trading case. Uh yeah, he’ll definitely be appealing. [Wall Street Journal (sub. req.)]

    * Hughes Hubbard & Reed has billed more than $17M in the first four months of its work on MF Global’s unwinding. Will the firm will be handing out spring “special” bonuses like they did last year? [Reuters]

    * Mattel is appealing MGA’s $310M copyright award, claiming that the judgment was based on “erroneous billing invoices.” Don’t you call my billable hours into question, Kathleen Sullivan. [National Law Journal]

    * Jerry Sandusky’s accusers will be named in court thanks to this judge’s ruling. But don’t worry — there’s no tweeting, texting, or emailing allowed in his courtroom. Like that’ll make a difference. [Legal Intelligencer]

    * Trust me, I’m a lawyer: a disbarred Colorado attorney somehow managed to scam a convicted con artist out of more than $1 million. Now that’s some pretty sweet karmic intervention for you. [Missouri Lawyers Media]

    * A bus driver is suing a hospital because he claims that instead of treating his painful erection, the staff watched a baseball game on TV. Whatever, that was a really great Yankees game. [Associated Press]

    2 Comments / / Jun 5, 2012 at 9:03 AM
  • All rise for the Honorable Judge Fiddy

    Bloomberg, Fat People, Insider Trading, Non-Sequiturs, Summer Associates, Wal-Mart

    Non-Sequiturs: 05.31.2012

    * For everyone who’s ever wondered, “I’m an attorney, but I also love playing lacrosse. Where can I enjoy my dual passions?” Well, here’s your answer. [Wall Street Journal]

    * More analysis of today’s DOMA smack down. [Leonard Link]

    * Still speaking about DOMA, check out these interesting similarities between Judge Michael Boudin, who wrote the court’s DOMA opinion, and 50 Cent. (Spoiler: they’ve both been shot a gazillion times, duuuh.) [Think Progress]

    * How do you turn your summer associateship into a full-time offer? I might suggest presents, nepotism, or, ahem, “favors.” Or for more traditional folks, I suppose you could take this “practical” advice. [The Careerist]

    * What can business executives learn from Wal-Mart? That having holiday sales so huge people are willing to die to be there might not be such a terrible idea? [Harvard Business Review]

    * What happens when the pool of college graduates dries up in a metropolitan area? Kitten starvation, ice storms, and zombies. [New York Times]

    * On a policy level, this maybe isn’t a great idea. And I realize I might sound like a hypocrite. But, honestly, if sodas were banned, I would be really upset for like 20 minutes, and then I would just go on a crazy 20-year coconut water binge. [New York Times]

    After the jump, check out Bloomberg Law’s interview with the judge from Raj Rajaratnam’s insider trading case…

    2 Comments / / May 31, 2012 at 5:53 PM
  • Oyez! Oyez! Oyez!

    Bail, Fashion, Fashion Is Fun, Fast Food, Food, Insider Trading, Intellectual Property, Morning Docket, Pornography, Prostitution, Trademarks

    Morning Docket: 04.20.12

    * George Zimmerman will appear before Judge Kenneth Lester Jr. today to request bail. What kind of evidence will the prosecutor have to present for bond to be denied? [Miami Herald]

    * Should prostitution be legalized? 70% of our readers think it should be (and not just because it’d mean they’d be employed nine months after graduation). But let’s get some more input from others on this topic. [Room for Debate / New York Times]

    * “Bring me Solo and the Wookiee. They will all suffer for this outrage.” Rajabba the Hut seems to have had a second Goldman Sachs tipper. Say hello to Rajat Gupta, who has pleaded not guilty. [Bloomberg]

    * Counsel in the Gucci v. Guess trademark case wrapped up their closing arguments in court yesterday. It’s generally not a good thing when the judge interrupts you to question your late filing. [Businessweek]

    * Uh, apparently there’s a legal battle concerning intellectual property having to do with a Three Stooges porn parody. I personally shudder to think of how Curly is portrayed. [Hollywood, Esq. / Hollywood Reporter]

    * After taking a blow from that fake beef lawsuit, Taco Bell’s sales are up thanks to its Doritos taco. Because getting your fingers covered in orange crap totally makes up for the “taco meat filling.” [Washington Post]

    3 Comments / / Apr 20, 2012 at 9:11 AM
  • Now this is a radical nun.

    Education / Schools, Insider Trading, Law Revue, Law Revue Video Contest, Non-Sequiturs, Religion, Technology

    Non-Sequiturs: 04.19.12

    * In America, secret agents drive awesome spy cars. In Soviet Russia, awesome cars spy on you. Actually, cars spy on Americans, too. [Not so Private Parts/Forbes]

    * An accused inside trader used his ill-gotten gains to buy a jet, four houses, and an island help the homeless. The government is still prosecuting him. Sir, with all due respect, you are doing it wrong. [Dealbreaker]

    * The Vatican is going to crack down on radical nuns. I can’t even think of a good joke because radical and nun so obviously don’t belong in the same sentence. Unless you’re having some sort of nun surfing contest and the Mother Superior catches a really sick wave. [BBC News]

    * I frequently get upset with schools that punish students too quickly and harshly for relative nonissues. But hacking into the school attendance system and “selling” absences — yeah, that’s probably not okay. [Bay Citizen]

    * Let me explain to you how this works: you see, the corporations finance the law firms, and then the law schools go out… and the corporations sit there in their… in their corporation buildings, and… and, and see, they’re all corporation-y… and they make money… Matt Damon! [Centre Daily]

    * Don’t forget to vote for your favorite ATL Law Revue entry. Also, tune in tomorrow to see our picks for honorable mention. [Above the Law]

    13 Comments / / Apr 19, 2012 at 6:00 PM
  • Peep

    Cars, Contests, Insider Trading, John Yoo, Non-Sequiturs, State Judges

    Non-Sequiturs: 03.13.12

    * A photoshopped image that liberals will love: John Yoo as Dirty Harry. [Ricochet] * Lawyers are people too. They get scared, and sometimes they suffer bad car wrecks. Unfortunately, sometimes, to be able to see life from the client’s eyes, it takes understanding in a car crash. [Stephen Hoffman] * Fix-it ticket, fixing a […]

    6 Comments / / Mar 13, 2012 at 5:08 PM
  • Associate Bonus Watch 2011, Biglaw, Bonuses, Crime, Insider Trading, Money, White-Collar Crime

    Associate Bonus Watch: Fried Frank Announces Bonuses ‘Up to $52,500’

    Here’s a Fried Frank bonus for you: Matthew Kluger, the former Fried Frank associate who sued the firm for alleged discrimination, is going to prison. As you may recall, Kluger — who also worked as an associate at other top law firms, including Cravath, Skadden, and Wilson Sonsini — was charged in a massive insider […]

    10 Comments / / Dec 21, 2011 at 3:18 PM
  • Attorney Misconduct, Drinking, Insider Trading, Law Schools, Legal Ethics, Morning Docket, Prostitution, Sentencing Law

    Morning Docket: 12.02.11

    * Three days after arguing that an alleged Sandusky victim’s lawsuit lacked any factual basis, Second Mile decided to settle. Better strike while the iron is hot (and the wallet is open), lawyers. [Bloomberg] * So much for that “real shot,” huh? After a failed bid for bail, Galleon Group’s Raj Rajaratnam will begin serving […]

    13 Comments / / Dec 2, 2011 at 9:05 AM