Law Firm Mergers

Usually Friday afternoon news dumps before holiday weekends are reserved for embarrassing news — a disgraced government official resigning to “spend more time with his family,” for example. But this latest news is happy rather than embarrassing (for the most part).

After a brief suspension of the voting, the partnership of Squire Sanders voted today to approve the proposed merger with troubled Patton Boggs. Not surprisingly, the Patton Boggs partnership had approved the merger days ago, on Monday. When a lifeboat pulls up, you don’t play hard to get.

So what’s the embarrassing part of this deal?

double red triangle arrows Continue reading “Say Hello To Squire Patton Boggs”

When we last checked in on Patton Boggs, the long-suffering law firm was on the brink of a bankruptcy breakthrough. Its partners, and the partners of Squire Sanders, were in the middle of voting on a merger that would save Patton Boggs.

Alas, sadly for Patton Boggs, Squire Sanders has suspended the merger vote. What happened? Did Squire come to its senses get second thoughts about that hideous proposed firm name, Squire Patton Boggs?

Actually, no; the issue is more substantial than that. Here’s a hint: Patton Boggs might have saved itself by June, if it weren’t for those meddling… Ecuadorian villagers!

(The vote is back on. Please note the multiple UPDATES at the end of this post.)

double red triangle arrows Continue reading “Squire Sanders Puts Patton Boggs Merger Vote On Hold”

* A DLA Piper partner was cleared by the firm in connection with a string of sexist emails exchanged with a client because real lads don’t get in trouble for such trifling behavior. We’ll have more on this later. [Am Law Daily]

* Patton Boggs partners started voting on the firm’s merger with Squire Sanders yesterday. Apparently there’s at least one partner who will not be allowed to join the new firm because of prior conduct. Sucks to be you, guy. [Reuters]

* “It’s the best way to prepare for a whole variety of things.” Right now is one of the best times to go to law school, say California law school deans who really need to get asses in empty seats. [Daily Transcript]

* “We are a better people than what these laws represent.” Pennsylvania’s ban on gay marriage was struck down yesterday, making it the 14th victory in a row for the marriage equality movement. [Bloomberg]

* Showtime just bought a law firm comedy about “four smartass, workaholic associates” in Biglaw trying to make partner and avoid being murdered by the office serial killer at the same time. Uh, yeah. [Deadline]

En garde, esquires of the Biglaw realm!

* Partners from Patton Boggs and Squire Sanders may vote on their merger sometime this week. Get ready to say hello to Squire Patton, House of Boggs, Hodorific of Its Name. [Reuters]

* “[E]xcuse me, sir, you may not be here in five years.” Biglaw firms are becoming more “egalitarian” about office space because attorneys have expiration dates. [National Law Journal]

* After a flat year in 2013, and much to Biglaw’s chagrin, “[i]t is going to be harder to sustain year-over-year profitability gains.” Oh joy, time to power up the layoff machine. [Philadelphia Inquirer]

* Tech giants Apple and Google have called a ceasefire in their dueling patent suits in a quest to reform patent law — and so Apple can concentrate all of its efforts on suing the sh*t out of Samsung. [Bloomberg]

* GM’s in-house legal department is being heavily scrutinized in the wake of the car maker’s ignition switch lawsuit extravaganza. You see, friends, people die when lawyers don’t even bother to lie. [New York Times]

* Donald Sterling found a lawyer willing to represent him, an antitrust maven who thinks the NBA should take its ball and go home because “no punishment was warranted” in his client’s case. [WSJ Law Blog]

On Monday, we heard rumors of momentous events at Patton Boggs, the troubled law and lobbying firm. One of the rumors was that the partnership was holding a meeting to vote on something major — although what exactly was not revealed.

We reached out to Patton Boggs, which shot down the rumors of a meeting, so we ended up not doing a story. But there may have been some truth to reports of exciting goings-on at the firm — developments that could help the firm in its struggle for survival.

The firm just removed the albatross of litigation with oil giant Chevron from around its neck. As you may recall, Chevron sued Patton Boggs for PB’s representation of plaintiffs in an Ecuadorian environmental case that Chevron alleged was nothing more than a shakedown — a view that Judge Lewis Kaplan (S.D.N.Y.) vindicated in March.

But escaping from the Chevron quagmire did not come cheap for Patton Boggs. How much did the firm have to cough up to make this case go away?

double red triangle arrows Continue reading “Patton Boggs Raises The White Flag In The Chevron Battle”

The arrival last week of the latest Am Law 100 rankings brought a hot-button subject back to the headlines: vereins.

As The Economist concisely explains, a verein is “a Swiss partnership that lets [law firms] maintain separate national or regional profit pools under a single brand.” For purposes of preparing its influential Am Law 100 rankings, the American Lawyer treats a verein as a single firm — a decision that some at non-verein firms object to.

Let’s hear some of the complaints — and then, interestingly enough, a defense of the vereins’ financial performance in 2013, which might have been better than Am Law suggested….

double red triangle arrows Continue reading “Are The Am Law 100 Rankings Unfair? Let’s Whine About Vereins”

Yes, today is one of those days: a day with multiple law firm layoff stories to report (not to mention rescinded offers).

This morning we brought you news of 20 support staffers losing their jobs and 10 offers getting rescinded. Now we share with you the story of a firm cutting almost 40 people.

Which firm just joined the nationwide layoff club?

double red triangle arrows Continue reading “Nationwide Layoff Watch: Not Everyone’s A Winner”

An angry God is one without a line of credit.

* “[T]he one thing Windsor does not do is clearly establish a nationalized definition of marriage.” No one will be surprised when the same-sex marriage cases wind up before the Supreme Court. [National Law Journal]

* Law firm mergers continue to hum along at a record pace, but whether they’ll actually work out is another question entirely. Only time will tell if we’ll see another “spectacular flameout.” [Wall Street Journal (sub. req.)]

* “The billable hour’s day has passed.” Eighty percent of law firm leaders believe hourly billing may soon be going the way of the dodo in favor of alternative billing arrangements. [Capital Business / Washington Post]

* Despite its anti-gay policies, Trinity Western University Law has been granted approval from the Law Society of British Columbia to open its doors. And here we thought Canadians were supposed to be polite. [GlobalPost]

* If you want to take an “Law and _____” class, sign up for Law and Traumatic Brain Injuries at GW Law. Having a TBI yourself seems like a requirement for enrollment, but shockingly, it’s not. [New York Times]

* Times are so rough that God can’t even get a credit card. Instead of casting plagues upon the earth, he’s suing Equifax — though we’re sure he wouldn’t mind if the credit agency reps caught lice. [New York Post]

* The Eighth Circuit axed a $900K jury award after a lawyer recounted her tale of sexual harassment by a law professor at Drake University Law during closing arguments. Well, that sucks, but we’d really love to know which professor this was. [ABA Journal]

* If flat is the new up, then mergers must be the new growth. The new year is upon us, and law firms are on track to either meet or break the merger record set in 2013. Thus far, 22 firms have announced mergers or acquisitions in 2014. [Washington Post]

* A lawyer in Minnesota who’s been in trouble with the bar quite a few times was recently charged with setting his girlfriend on fire. Yikes, someone’s way too excited about the Fargo mini-series. [Star-Tribune]

* Oscar Pistorius took the stand in his murder trial yesterday, revealing that when he killed his girlfriend Reeva Steenkamp, he was really trying to protect her. This case gives us the sads. :( [New York Times]

* Sorry we’re not sorry about the toupee: Paramount wants this Wolf of Wall Street suit dismissed since it’s undeniable the plaintiff was part of “bizarre travesty that was Stratton Oakmont.” [Hollywood Reporter]

Zac Efron

* Dentons still has the urge to merge with a U.S. firm, and now it’s trying to tempt Patton Boggs away from Squire Sanders with a “serious overture.” Bow chika bow wow. [The Lawyer]

* Despite all the outrage over Albany Law’s faculty buyouts, some have already accepted the package offered. Looks like anything’s possible for the right price. [Albany Business Review]

* Guess which law school is cutting tuition by a whole lot? Some hints: it’s in New York and it’s been selling off real estate. We’ll have more on this later. [Wall Street Journal (sub. req.)]

* Perhaps this could be considered a gift of provisional accreditation: Alberto Gonzales, U.S. Attorney General in President George W. Bush’s administration, is now dean at Belmont Law. [The Tennessean]

* Take a look at this new paper by Professors Amy Chua and Jed Rubenfeld on race and culture in law school admissions. Actually, it’s fake, but it’s sad that it could, in theory, be very real. [Washington Post]

* Zac Efron is going to star as a Yale Law grad forced by criminals to work in the world’s largest Biglaw firm in a film adaptation of John Grisham’s book, The Associate. OMG, he’s so cute. [Hollywood Reporter]

* Our thoughts go out to the families of those wounded and killed during the Fort Hood shooting. [AP]

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