Law Firm Merger Mania

Sarah Jones

* Akin Gump partner Patricia Millett is willing to take a whopping pay cut to serve on the D.C. Circuit — from $1MM to $184K — and for that alone she should be confirmed ASAP. [National Law Journal]

* With the number of law firm mergers in the last six months alone, we’re on a “potentially record-setting pace” for 2013. Hey, look at it this way: it’s cheaper than hiring and firing laterals. [Am Law Daily]

* Three years later, the epic litigation between Debevoise & Plimpton and a former client continues to rage on. Now, allegations are being tossed around about a partner’s behavior. [New York Law Journal]

* According to the Bureau of Labor Statistics, in June, the legal industry lost more jobs than it has in a single month since June 2011. Congrats, Class of 2013! welcome to the real world. [Am Law Daily]

* In its defense, Standard & Poor’s claims its ratings were puffery, and that no reasonable investor would rely on them. Aww, poor widdle “sophisticated consumers of [investment information].” [Bloomberg]

* For those of you practicing personal injury law in New York, this case is a bombshell. If you want to put the whole insurance industry on trial, follow the action here. [New York Personal Injury Law Blog]

* Sarah Jones, the ex-cheerleader who sued TheDirty.com for defamation, was back in federal court yesterday for the beginning of her case’s retrial. What a way to start an engagement. [ABC News]

Earlier this week, we congratulated Husch Blackwell on its expansion in Texas. The firm achieved that growth by merging with Austin-based Brown McCarroll, forming a firm with 600 lawyers and more than $300 million in revenue that would have made the Am Law 100 with such numbers.

But Husch recently lost some lawyers too. Earlier in the week, 11 Husch attorneys, including eight shareholders, lateraled over to Polsinelli (formerly Polsinelli Shughart).

The defections didn’t sit well with Gregory Smith, CEO and managing partner of Husch Blackwell. He had some amusingly catty comments about Polsinelli and one of the Husch partners who made the move….

double red triangle arrows Continue reading “Husch Your Mouth: Managing Partner Talks Trash About A Rival Firm And A Former Colleague”

* I’ll get into this more tomorrow (unless Fisher drops), but Washington & Lee’s third year “experiential learning” program has met with underwhelming results in terms of job placement. Theories abound as to why, but this is basically why I say (a) the third year is useless, and (b) stop telling me what your law professors can do, and start telling me what your career services officers are doing. [Law School Cafe via Tax Prof Blog]

* I guess they didn’t like the way they looked. [Yahoo Finance]

* Hey, it’s another article beating up on Don Verrilli. I’m going to be really happy for him when he leaves, makes a ton of money, and sticks it all in his ears. [Forbes]

* An insider trading loophole big enough to drive a material non-public truck through it. [Dealbreaker]

* Husch Blackwell gets bigger in Texas. [Kansas City Star]

* Roy Cho, the Kirkland & Ellis associate currently running for Congress, gets a coveted endorsement — from the Wu-Tang Clan. [NJ.com]

* A nice review for Marcia Coyle’s new book, The Roberts Court (affiliate link). It’ll be fun to see how the Court looks at this moment in time, before what will surely be viewed as legacy-defining decisions on race and gay rights coming any minute now. [Seattle Times]

* Justice Ginsburg is optimistic about the future of women on the court. She’s also optimistic about the future of skeletons on the court, and she’s super-excited about the possibility of downloading her brain into a robotic body so that she can keep her job forever. [Blog of the Legal Times]


Kamala Harris

* If President Obama could send a love note to California Attorney General Kamala Harris, it’d probably say something like this: “Girl, you look good. Won’t you back that ass up?” [ABC News]

* The fun things you learn during a Supreme Court justice’s book tour: apparently Sandra Day O’Connor dated William Rehnquist when they were at school together at Stanford Law. [Legal Times]

* When it comes to law firms, size really does matter. Quite a few midsize firms had the urge to merge in the first quarter of 2013, according to the latest Altman Weil survey. [Am Law Daily]

* In case you haven’t heard the news by now, NYU Law School has a new dean, and he was poached fresh from Columbia. The bonus here is that he’s actually pretty cute. We’ll have more on this story later today. [NYU Law News]

* Law faculties may be a tad too liberal, say some at Harvard Law School, which is basically a bastion of leftie law professors. Cut to Ted Cruz muttering about Commies under his breath. [USA Today]

* Here’s an obvious protip that may not be obvious to 0Ls: if you’re going to ask for a recommendation letter, you should probably make sure that it’s going to be a positive one. [U.S. News & World Report]

When the merger of Edwards Angell and Wildman Harrold was announced back in August 2011, some observers, such as our beloved commenters here at Above the Law, viewed the move as an act of desperation. Because both firms had a tough time during the recession, the notion of their combining with each other reminded some people of… well, this.

Now, as we approach the two-year anniversary of the merger’s announcement, how are things going over at Edwards Wildman? Are Angells flapping their wings with joy and Wildmen hoisting glasses of grog?

Not exactly, say some….

double red triangle arrows Continue reading “What’s Going on at Edwards Wildman Palmer?”

* Some Supreme Court analysts are speculating that Justice Clarence Thomas could cast a vote to overturn the Defense of Marriage Act, but at this point, that’s just about as likely as him speaking during oral arguments. [Talking Points Memo]

* When a practice group laterals out of a firm en masse, you know things were probably going on behind the scenes for a while. Apparently Bingham’s securities enforcement crew was in very high demand by other Biglaw firms. [Am Law Daily]

* Hot on the heels of a merger ménage à trois, Dentons (fka SNR Denton) is already eyeing new growth possibilities across the globe. Guess they’re down with orgies now… [WSJ Law Blog (sub. req.)]

* “Clients don’t hire us because of our sex. They hire us because we win.” This, from Hillary Richard, one of the female name partners of a largely all-female firm. You go girl! [DealBook / New York Times]

* Silly Cooley, a “second-tier” law school by any other name would smell as stank. Our nation’s second-best law school is considering a union with Western Michigan University. [National Law Journal]

Pillsbury’s so lonely these days.

* “Without the formation of character, the rest is futile.” An Article III judge’s take on the law school crisis. [Simple Justice]

* Because nobody likes sloppy seconds, the merger talks between Pillsbury Winthrop and Dickstein Shapiro are now off the table. [Thomson Reuters News & Insight]

* David Tresch, an ex-Biglaw CIO, was indicted last week on wire fraud charges. “Bitch better give me back my money,” said Mayer Brown. [ABA Journal]

* Does Jeffrey Toobin understand the Voting Rights Act? This law professor seems skeptical. [PrawfsBlog]

* Praise the Lord and pass the ammunition, because this Saturday is Gun Appreciation Day. Go celebrate your Second Amendment rights — but do it responsibly, please! [Volokh Conspiracy]

* Remember Ryan Chenevert, the young lawyer who took home the title of Cosmo’s Bachelor of the Year for 2012? Check out the very tongue-in-cheek interview this hottie did with 225 Magazine, after the jump….

double red triangle arrows Continue reading “Non-Sequiturs: 01.14.13″

Housewife: best job ever?

* Go to BuzzFeed to see pictures of cute animals, or go to BuzzFeed to see some quality journalism — like Chris Geidner’s profile of Edith Windsor, plaintiff in one of the landmark gay-marriage cases before the Supreme Court. [BuzzFeed]

* “A python is fairly dangerous. There’s definitely a turn-on about hunting something carnivorous that could, in theory, eat you,” says the NYU law student heading to Florida to hunt pythons for prize money. [Bloomberg]

* Looking for work? It’s time to head south, before everyone else does. Word is starting to get out about Texas, which boasts a low cost of living, no state income tax, and jobs — yes, actual freaking jobs. [Instapundit]

* But there’s no shortage of jobs in the housewife sector. If that’s what you want to do, then be fruitful, multiply, and remove your résumé from consideration at the jobs you’ve unwillingly applied to. [The Careerist]

* Although a reference from this century would’ve been appreciated, both Lat and Elie agree that I’m pretty damn great at “mak[ing] everything be okay.” Where’s a cute hat to toss when you need one? [Law and More]

* Lat sometimes dabbles in Biglaw predictions (despite the risks of being wrong). If you’re interested in seeing more, watch him in this interview with Lee Pacchia of Bloomberg Law….

double red triangle arrows Continue reading “Non-Sequiturs: 01.11.13″

* Change may be coming soon in light of the Newtown shooting, but any talk about new federal restrictions on guns will hinge on the Supreme Court’s interpretation of the Second Amendment through the lens of the Heller case. [National Law Journal]

* Joel Sanders and the Steves are facing yet another “frivolous” lawsuit over their alleged misconduct while at the helm of the sinking S.S. Dewey, but this time in a multi-million dollar case filed by Aviva Life and Annuity over a 2010 bond offering. [Am Law Daily]

* Always a bridesmaid, never a bride: Pillsbury has had the urge to merge since February, and now the firm may finally get a chance to walk down the aisle with Dickstein Shapiro. [Thomson Reuters News & Insight]

* Income-based repayment is a bastion of hope for law school graduates drowning in student loan debt, but when the tax man commeth, and he will, you’ll quickly find out that the IRS doesn’t have IBR. [New York Times]

* Is the premise of graduating with “zero debt” from a law school that hasn’t been accredited by the ABA something that you should actually consider? Sure, if you don’t mind zero jobs. [U.S. News and World Report]

* Daniel Inouye, Hawaii’s Senate representative for five decades and a GW Law School graduate, RIP. [CNN]

* “The people who are paying us say this is what we want.” When it comes to cross-border mergers, law firms aren’t becoming behemoths for the hell of it. The end goal is to be able to edge out the rest of the competition. [Wall Street Journal (sub. req.)]

* It’s been six weeks since Hurricane Sandy hit the east coast, and “[e]verybody wants to go back downtown,” but some Biglaw firms in New York City — firms like Harris Beach and Cahill Gordon — are still stuck in their temporary offices. [New York Law Journal]

* Following Jeh Johnson’s adieu to the DoD, drone-loving Harold Koh will be packing up his office at the State Department and returning to Yale Law to resume his professorship next month. [WSJ Law Blog (sub. req.)]

* According to the Bureau of Labor Statistics, the legal sector is employing 5,800 more people than it was at this time last year. We’d be in good shape if 40,000 people hadn’t graduated law school in May. [Am Law Daily]

* Another day, another wrist slap: Villanova Law has been placed on probation for by the Association of American Law Schools over its grade-inflation scandal. Does that even mean anything? [Philadelphia Inquirer]

* The Lanier Law Firm, known for its spectacular Christmas parties, hosted some country superstars at this year’s event. Guess we know where Faith Hill and Tim McGraw go for legal assistance. [Houston Chronicle]

* A slim majority of American adults think that federal government employees should just sit back, relax, and smoke a bowl instead of enforcing federal laws against marijuana use. [FiveThirtyEight / New York Times]

* “I’m sorry they are confused in the White House.” Puerto Rico’s statehood referendum received a majority of votes, but lawmakers say the results of the two-part plebiscite are too confusing to add a 51st state. [CNN]

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