JPMorgan
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Finance, Technology
Twitter Price Manipulation Could Cost Tesla $162M
A small rounding error for Musk, a giant contingency fee for lawyer-kind. -
Morning Docket
Morning Docket: 11.29.17
* Recently confirmed Judge Timothy J. Kelly (D.D.C.) has refused to block Mick Mulvaney from serving as acting director of the Consumer Financial Protection Bureau, denying a request from would-be director Leandra English’s for a temporary restraining order. Donuts for everyone! [CNN]
* The Senate has confirmed Greg Katsas, one of President Trump’s former legal advisers, to the D.C. Circuit. The Thomas law clerk will replace Judge Janice Rogers Brown on one of the nation’s most influential courts. [ABC News]
* AT&T has responded to the Justice Department’s lawsuit over its planned merger with Time Warner, and things just got ugly. AT&T claims that the government has no antitrust argument because it’s not buying a competitor. [Washington Post]
* For the second time this year, the Supreme Court has suspended the wrong attorney. This time around, the Supreme Court bar accidentally suspended a former Supreme Court employee. Oopsie! [Associated Press]
* With the goal of having women make up at least 50 percent of the leadership roles on its litigation teams, JPMorgan is trying to make a major statement with its latest initiative for women in the legal profession. [American Lawyer]
* “I don’t give a f–k, I will burn the place to the ground….” Ross Cellino and Stephen Barnes of Cellino & Barnes continue to have a very friendly relationship as the firm is dissolved. [New York Daily News]
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Jury Duty
JPMorgan Found A Way To Make Jury Duty Even More Miserable
Taking “Twelve Angry Men” a bit too literally.
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Finance
Lloyd Blankfein, Jamie Dimon Singing A Oddly Similar Tune On Dodd-Frank
No need to kill the poor law, just rough it up a little. -
Politics, Wall Street
Screw It, Jamie Dimon Is Just Going To Have To Be Treasury Secretary Whether He Likes It Or Not
Welcome to the #DraftDimon movement. -
Donald Trump, Politics
Jamie Dimon For Treasury? We Should Be So Lucky
Don’t front like this rumor isn’t causing your body to feel the warm sensation of relief. -
Politics
Big Banks Totally Forgot That They Had Other Plans During This Year’s GOP Convention
The big guys see attending Trump’s party as the true mistake by the lake. -
Biglaw, Screw-Ups
Simpson Thacher Sued In Two Class Actions
Biglaw firm allegedly cost lenders big bucks. - Sponsored
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Biglaw, Books, Events, In-House Counsel, JPMorgan Chase, Outsourcing, Partner Issues, Partner Profits, Pictures, Small Law Firms
Law Firms And The No-Longer 'New' Normal: Insights On 7 Key Subjects
The fate of the billable hour, how small firms can compete with large ones, the evil of profits per partner, and more. -
Department of Justice, Gay, Gay Marriage, H. Rodgin Cohen, Health Care / Medicine, Military / Military Law, Morning Docket, New Jersey, Prostitution, Wall Street
Morning Docket: 10.21.13
* How Jamie Dimon (and Stephen Cutler and Rodge Cohen) reached JPMorgan Chase’s tentative $13 billion settlement with Eric Holder and the Department of Justice. [DealBook / New York Times; Wall Street Journal (sub. req.)]
* Congratulations to all the New Jersey couples who got married since midnight, in the wake of the state supreme court’s decision not to stay a lower-court ruling in favor of marriage equality. [Newark Star-Ledger]
* Additional insight into all the partner departures from Weil Gotshal in Texas. [Dallas Morning News]
* Lawyers aren’t the only folks who know how to overbill; defense contractors do too, according to federal prosecutors who allege that a company provided prostitutes and kickbacks to Navy personnel. [Washington Post via The BLT]
* The legal battle over Obamacare rages on. [Wall Street Journal (sub. req.)]
* Judge Oing, this really isn’t that hard. Here’s a draft opinion for you in the long-running litigation between Macy’s and J.C. Penney over the right to sell Martha Stewart merchandise (by James Stewart, no relation to Martha). [New York Times]
* If you’d like to run with the bulls without schlepping to Spain, former lawyers Rob Dickens and Brad Scudder can help. Presumably their legal training helped them draft ironclad waivers. [BuzzFeed]
* Another interesting but very different event, taking place this Wednesday: “Healing the U.S. Lawsuit System.” [U.S. Chamber Institute for Legal Reform (one of our advertisers)]
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Abortion, Banking Law, Biglaw, Books, Education / Schools, Federal Government, Federal Judges, Law Schools, Money, Morning Docket, Partner Issues, SCOTUS, Sports, Supreme Court, Williams & Connolly
Morning Docket: 10.14.13
Ed. note: In honor of Columbus Day (and Canadian Thanksgiving), Above the Law will be on a reduced publication schedule today. We will be back in full force tomorrow.
* Justice stops for no one, not even a broken Congress. With the end of days approaching quickly for federal courts in terms of funding (or the lack thereof), many judges are lashing out and declaring all their employees essential. [National Law Journal]
* Legal expenses can be especially “painful,” even for the biggest of banks, but sadist firms like Sullivan & Cromwell, Paul Weiss, and WilmerHale are really getting their rocks off on Jamie Dimon’s suffering. [DealBook / New York Times]
* DLA Piper’s future’s so bright it’s got to wear shades — and appoint a new co-managing partner in New York City, its largest office. Congratulations to Richard Hans, you’ve co-made it! [New York Law Journal]
* “It’s not just about me.” Jim Tanner, a Williams & Connolly partner who represents Jeremy Lin, is leaving the firm to start his own sports management business, and he’s taking people with him. [Bloomberg]
* “I have no apologies to make about anything I did.” Steven Donziger of Chevron/Ecuador infamy will be defending himself in court this week in what’s being called a legal cage match. [Wall Street Journal]
* “Touro is asking a judge to declare the school a diploma mill.” Irony alert: Touro wants Novus University Law School, a school supposedly conferring “worthless law degrees,” to be stopped. [New York Post]
* If you think SCOTUS abused its discretion in the early abortion cases, you’re going to love this book (affiliate link), a “cautionary tale” about consequences of decisions like Roe v. Wade. [Wall Street Journal]
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Clarence Thomas, Drugs, Eric Holder, JPMorgan Chase
Morning Docket: 09.20.13
* A Texas court overturned Tom DeLay’s conviction on money laundering charges. DeLay immediately thanked Jesus, who played an instrumental role in the three judge panel’s deliberations. [New York Times] * Eric Holder has eliminated mandatory minimum sentences for those low-level nonviolent drug offenders whose cases are currently pending. In related news, here is a cow riding a razor scooter. [Washington Post] * This says J.P. Morgan actually did just fine in their settlement with the Securities and Exchange Commission. I get the hugest boner from underdog stories like this one. [WSJ Law Blog] * A woman has sued Getty Images after her photo was used in an HIV advertisement. She’s apparently holding out for the herp campaign. [New York Post] * More from Clarence Thomas in Portland: “Why was a black kid in Georgia reading Ayn Rand?” I don’t know. Because he was dumb? [ABC News] -
Bar Exams, JPMorgan Chase, Non-Sequiturs, SCOTUS, Supreme Court, United Kingdom / Great Britain
Non-Sequiturs: 08.19.13
* Most folks think the police overreacted by issuing a civil disobedience warning for a 3-year-old girl, but those people need to watch Children of the Corn. [UPI] * Speaking of the Brits, authorities detained Glenn Greenwald’s partner (interestingly, Greenwald’s partner is named Miranda) for nine hours and “confiscated his computer, phone, camera, memory stick, DVDs and video games” while passing through Heathrow. Wow, this is the sort of thing that might make Greenwald mad at the surveillance state. [ABA Journal] * A detailed analysis of confidential sources. I’m pointing this out to publicly clarify that ATL keeps its tipsters confidential unless they specifically ask to be cited. So feel free to tip away! [Talking Biz News] * Tales of Ted Cruz as a young man. So we’re calling parliamentary-style debate “debate” now? OK. [Daily Beast] * Professor Rick Hasen examines North Carolina’s new voter suppression law and how it proves that the country still needs the Voting Rights Act. [Slate] * Maybe bar exams should write better questions that actually cover all the material candidates have to learn. Personally, I was just fine not having to memorize a lot about New York commercial paper law. [Ramblings on Appeal] * The tale of a wealthy couple evading the law. The article describes the story as an “arthritic version of Steve McQueen and Ali MacGraw in The Getaway, perhaps, moving at nursing-home speed.” Hollywood just found a plot for Expendables 4. [Seattle Weekly] * The government’s obsession with FCPA enforcement has bit JP Morgan over hiring the children of Chinese officials to woo business. [Dealbreaker] * Chief Judge Michael P. Mills of the Northern District of Mississippi weighs in on a copyright suit between the estate of William Faulkner and Woody Allen. The judge is apparently not a fan of Sharknado because he has no soul. Video of the quirky conflict after the jump…
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Alston & Bird, Banking Law, Biglaw, Crime, Death Penalty, Gay, Gay Marriage, Ho-Love, JPMorgan Chase, Morning Docket, Paul Clement, SCOTUS, Supreme Court, Violence, You Go Girl
Morning Docket: 03.28.13
* Based on the justices’ reactions during oral arguments in Windsor v. U.S., there was no defending the Defense of Marriage Act. Not even the Paul Clement, the patron saint of conservative causes could save the day. [New York Times]
* Alas, the David Boies and Ted Olson Dream Team stole much of the spotlight from Roberta Kaplan, the Paul Weiss partner who argued on behalf of Edith Windsor in an effort to overturn DOMA. Seriously, you go girl! [WSJ Law Blog (sub. req.)]
* Dude, you’re getting a Dell! Alston & Bird and Kirkland & Ellis are the latest firms to join the Biglaw sharks (including Ho-Love, Debevoise, Wachtell, SullCrom, and Simpson Thacher) circling this major tech buyout. [Am Law Daily]
* It looks like it’s time for JPMorgan to face the music for its investments in Lehman Brothers, because a federal judge just ruled that the bank cannot “dispatch plaintiff’s claims to the waste bin.” [Reuters]
* An alleged killer’s sense of mortality: James Holmes, the suspect in the Colorado movie theater shooting, offered to plead guilty and spend life in prison in order to avoid the death penalty. [CNN]
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Biglaw, Constitutional Law, Deaths, Department of Justice, Election Law, Federal Judges, Job Searches, JPMorgan Chase, Law Professors, Law Schools, Mergers and Acquisitions, Money, Morning Docket, Musical Chairs, Politics, Privacy, S.D.N.Y., SCOTUS, Supreme Court
Morning Docket: 02.25.13
* The horror! The horror! Sacrilege! Constitutional law nerds nationwide will weep at the very thought of someone suggesting that our country’s governing document be amended to abolish life tenure for Supreme Court justices. [Los Angeles Times]
* Quite frankly, it’s pretty amazing how quickly the preclearance section of the Voting Rights Act went from being seen by states as something that wasn’t “onerous” to being “arbitrary and burdensome.” That’s politics for you. [It’s All Politics / NPR]
* Jim Woolery, an M&A superstar formerly of J.P. Morgan, has made the jump to Cadwalader after only two years at the bank. Upgrade or downgrade from his Cravath partnership? [Wall Street Journal (sub. req.)]
* Some law professors stop teaching classes to tend to their divorce proceedings, but others law professors teach classes from their hospital beds so their students aren’t thrown to the wolves. [Tex Parte / Texas Lawyer]
* It you want to be employed, make damn sure you nail your interview because “[t]he stakes are higher than ever” — fewer than 13 percent of permanent law jobs were obtained from OCI in 2011. [National Law Journal]
* Greenlight Capital’s case against Apple might have been perceived as a “silly sideshow” by some, but it looks like Judge Richard Sullivan of the S.D.N.Y. purchased front row tickets. [DealBook / New York Times]
* Speaking of silly sideshows, the DOJ recently joined the fray with Floyd Landis and his False Claims Act suit against Lance Armstrong. Perhaps it’s time for the disgraced biker to take his ball and go home. [Bloomberg]
* Alan Westin, privacy law scholar and professor emeritus of public law at Columbia, RIP. [New York Times]
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Morning Docket
Morning Docket: 11.01.12.
* This seems like a high profile time to be named general counsel of the Red Cross. [Corporate Counsel]
* JPMorgan sues whale. [Bloombereg Businessweek]
* I cannot wait for the lawsuit this T-shirt cannon inspires. [Yahoo Sports]
* A dog day at the Supreme Court. [National Law Journal]
* The pledge of allegiance is under attack. Well, not the pledge exactly, they’re just going after God. [Boston Globe]
* You know, I get that the people without power are feeling like they’re in a episode of Revolution right now, but Manhattan has ALWAYS been two cities: the haves and the people we haves step over on our way to having more. I feel bad for people living in Lower Manhattan who have been without their muffin cart for a couple of days… but not as bad as I feel for the poor schlep who will drag the muffin cart around for 12 hours a day every day until death. [Time]
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Asians, Bankruptcy, Biglaw, Dewey & LeBoeuf, General Counsel, In-House Counsel, JPMorgan Chase, Morning Docket, SCOTUS, State Judges, Supreme Court, Television
Morning Docket: 10.02.12
* “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]
* UC Irvine Law is planning a six-week summer camp for in-house counsel. They’re calling it the Center for Corporate Law, but Mark Herrmann’s “General Counsel University” has a nicer ring to it. [National 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]
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Airplanes / Aviation, BuckleySandler, Copyright, Intellectual Property, John Edwards, JPMorgan Chase, Law Schools, Non-Sequiturs, Nude Dancing
Non-Sequiturs: 06.13.12
* Gina Chon, the Wall Street Journal reporter whose sensuous e-mails with Brett McGurk, a U.S. ambassadorial nominee, were released last week, resigned her job at the paper. But temporary unemployment is no match for true love (or super hot sex, for that matter)! [Washington Post] * UMass Law is now the first accredited public law school in Massachusetts. Thank God, because our law school reserves were running dangerously low. [Boston Globe] * The attorney for FunnyJunk is totally befuddled by the Oatmeal’s hilarious response to his legal threats, as well as the internet at large’s response to the response. Come on man, loosen up and feel the lulz. [Gawker] * The Justice Department dropped the remaining charges against John Edwards. That’s an anti-climax for the record books. [WSJ Law Blog] * Congratulations to Andrew Schilling, the former top civil prosecutor at the Manhattan U.S. Attorney’s office, who is joining BuckleySandler as a partner! [Thomson Reuters News & Insight] * JPMorgan’s CEO admits, “I was dead wrong.” Congratulations, I hope that makes you feel better. Now why don’t you give us taxpayers all our money back? [Gothamist] * I get stopped at the airport because some TSA agent thinks my belt buckle looks like a bomb or something, but this guy becomes a commercial pilot??? I just don’t get it. At all. [Wall Street Journal] * I do not envy the guy who has to explain the $19,000 strip club credit card bill to his wife. [Daily Business Review] -
In-House Counsel, JPMorgan Chase, Money
House Rules: I’m Jamie Dimon, and You’re Not
The pressure to avoid being the “no” department can cloud one’s judgment. How can you gain clarity as an in-house attorney? -
9th Circuit, Bankruptcy, Biglaw, Canada, Dewey & LeBoeuf, Dissolution, Football, John Edwards, JPMorgan Chase, Kids, Morning Docket, Police, Politics, Pregnancy / Paternity, SCOTUS, Supreme Court, Trials
Morning Docket: 05.30.12
* Dewey have any cash to pay the people helping to wind down our firm’s business? Nope! Even though JPMorgan backed D&L’s $8.6M motion to fund the firm’s ongoing operations, Judge Glenn insisted that the bank “[r]oll [its] truck up and start collecting accounts receivable.” [Am Law Daily (reg. req.)]
* “Don’t tase my baby, bro!” SCOTUS has declined to review a case where the Ninth Circuit ruled that the use of a Taser on a seven-month pregnant woman constituted excessive force. [Thomson Reuters News & Insight]
* “The jury has sent a note that they’ve reached… [dramatic pause] … a good stopping point.” Judicial humor lightened the mood after the seventh day of deliberations without a verdict in the John Edwards trial. [ABC News]
* Dharun Ravi finally issued an apology for his “stupid and childish” behavior, and he’ll be heading off to serve his 30-day jail sentence on Thursday. And you know, that jail sentence is joke enough for this blurb. [CNN]
* “Dumb Blonde” isn’t a name that Elizabeth Warren takes too kindly to being called. She much prefers the name that her Native American ancestors bestowed upon her: “Running Joke.” [San Francisco Chronicle]
* Four of the alleged victims in the Jerry Sandusky case have asked the court to protect their identities. It’s kind of like the Michael Jackson case, but everyone cares more because this one involves football. [Bloomberg]
* Hundreds of lawyers, notaries, and other legal professionals took to the streets in Montreal earlier this week to publicly protest Bill 78, a law that limits public protests. That’s so meta, eh Canadians? [Montreal Gazette]