(Fun fact: one of the members of Martoma’s trial team, Roberto Braceras, is the son-in-law of Judge José A. Cabranes. So if the Martoma case ever winds up before the Second Circuit, Judge Cabranes may have to recuse.)
Martoma earned millions while at SAC Capital, and some of that money will be making its way into the coffers of Goodwin Procter. And some of that money will then get paid out as associate bonuses, which the firm recently announced….
* Chief Justice John Roberts appointed Second Circuit Judge José A. Cabranes to the Foreign Intelligence Surveillance Court of Review. Roberts must be happy; few will criticize a moderate. [Washington Post]
* The Department of Justice plans to hire Leslie Caldwell, Morgan Lewis partner and ex-Enron prosecutor, to fill Lanny Breuer’s shoes. Way to leak the news while she’s on vacation. [DealBook / New York Times]
* Tell us again how sequestration isn’t having an impact on the judiciary. Private federal indigent defense attorneys are going to see their already modest rates slashed due to budget cuts. [National Law Journal]
* Sixteen lawyers will receive the New York Law Journal’s Lifetime Achievement Award, and a list like this obviously wouldn’t be complete without the names of some of Biglaw’s best and brightest. Congrats, Rodge! [New York Law Journal]
* Here’s something to aspire to for the ongoing law school lawsuits: Career Education Corp., a system of for-profit colleges, will pay $10 million to settle a dispute over its inflated job statistics. [Wall Street Journal]
* Penn State University is starting to issue settlement offers to young men who claim they were sexually abused at the hands of Jerry Sandusky, the school’s former assistant football coach. [Legal Intelligencer]
– Judge José A. Cabranes, writing for a three-judge panel of the Second Circuit in upholding the insider trading convictions of former hedge fund manager Raj Rajaratnam. On appeal, Rajaratnam unsuccessfully argued that federal prosecutors obtained a wiretap warrant with a “reckless disregard for the truth.” Rajaratnam will serve the remainder of his 11-year sentence.
(If you’re interested, continue reading for the Second Circuit’s opinion.)
While many of the law school deans and other administrators at the conference acknowledged problems with the system, most of the actual critiquing came from people with no power to change it. Media members (ahem) criticized law schools, judges criticized law schools, outgoing deans of law schools that shamelessly profiteered off of unwitting law students criticized — and the people who could actually change their systems dutifully listened.
But despite all of the critiques, there weren’t a lot of schools that seemed ready to institute sweeping change to the business of educating lawyers. And why should they? Change won’t come from above, and right now prospective law students are not demanding change from below…
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: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.