* Will adjudicate for food? With a little more than one week until the end of the fiscal year, the federal judiciary is facing down a “worst-case scenario” with respect to its budget. [National Law Journal (sub. req.)]
* An unremarkable percentage of firms are led by women lawyers, but Kim Koopersmith of Akin Gump awaits a day when being a first woman in law won’t be “newsworthy.” [Capital Business / Washington Post]
* Law firm merger mania, Heartland edition: Stinson Morrison Hecker did the do-si-do with Leonard Street & Deinard and will promenade home as Stinson Leonard Street in January. [WSJ Law Blog (sub. req.)]
* Hearts are breaking on either side of the nationwide same-sex marriage debate, and county clerks are bearing the brunt of all the complaints. When will all states “bit[e] the bullet” and legalize it? [Reuters]
* “The last time I went into court, I was wearing something that I got at Goodwill.” It turns out even geniuses are stupid enough to rack up hundreds of thousands of dollars in law school debt. [Los Angeles Times]
If you’re a law firm managing partner, the captain of a Biglaw ship, have you done all that you can to make sure your vessel is as seaworthy as possible? You don’t want your ship to suffer the fate of the S.S. Dewey.
Some steps are easy and obvious. Conduct layoffs of unneeded associates, whether openly or stealthily. Offer buyouts to surplus support staff (or lay them off, if feeling less generous). Usher underperforming partners towards the exit, to lower the denominator for your profit per partner figure; keeping PPP high reduces the likelihood of crippling defections and helps you attract star laterals.
Those are the basic moves, which everyone is doing. For something that’s a little more challenging, a maneuver that might even impress the East German judge in its level of difficulty, you can play with your partnership capital structure….
* “[T]hese senators decided to do nothing. Shame on them” Yesterday, the Senate blocked gun-control legislation that could have saved lives, and Gabrielle Giffords, a victim of gun violence, wrote a powerful op-ed in reaction. [New York Times]
* DLA Piper won’t be churning that bill anymore because the firm managed to settle its fee dispute with Adam Victor, but it’s certain that the firm’s embarrassment over the overbilling incident will know no limits. [DealBook / New York Times]
* Ahh, best-laid plans: Kim Koopersmith, the first woman to serve as Akin Gump’s chair, never thought that she’d be working in a law firm. In law school, she wanted to work in public interest. [Bloomberg]
* You’ll never guess which firm has the best brand in Canada according to the latest Acritas survey, but that’s probably because you don’t care. Come on, it’s Canada. Fine, it’s Norton Rose. [Am Law Daily]
* Oopsie! Burford Capital claims that it would never have funded plaintiffs’ representation by Patton Boggs in the Chevron case if it weren’t for a partner’s “false and misleading” statements. [CNN Money]
* The wife of a former justice of the peace has been charged with capital murder after she confessed to her involvement in the slayings of Texas prosecutors Mike McLelland and Mark Hasse. [Reuters]
* A firm allegedly said “F**k you” (literally) to a disabled veteran, then suggested his wife should divorce him, called him a crummy soldier, and said he should have died. I can’t imagine this is going to end well. [Simple Justice]
* How do criminal defense attorneys defend those people and sleep at night? [Katz Justice]
* Well, sometimes, those people just might be innocent. Errol Morris wrote a new book (affiliate link) on one such case. I interviewed the Oscar-winning filmmaker about it last month, and Morris just published another grim update. [New York Times]
* Congratulations to Kim Koopersmith, who has been chosen to succeed Bruce McLean as the new leader (and first female chairperson) of Akin Gump. [Thomson Reuters]
* In a further display of total isolation from reality, music publishers have now sued websites that post lyrics to popular songs. Because God forbid fans sing along to their favorite tunes. [IT-Lex]
* By the way, did you know those folks who illegally share music also purchase significantly more music than everyone else? Like, with real money. Something to chew on for a minute or 15. [TorrentFreak]
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: