Matt Levine

* Apparently, heckling Carmelo Anthony can cost you your job. [Dealbreaker]

* There’s nothing the Supreme Court can do to stop cops who want to take a long time to release you from a stop, even if the Court wants to. [Simple Justice]

* I think we should just ask John Roberts to tell every state precisely how they are allowed to discriminate against black voters and be done with it. Just tell us the rules so we can start the GOTV campaigns. [Election Law Blog]

* Former Manhattan Assemblywoman Gabriela Rosa gets a year in jail for purchasing a sham marriage to gain citizenship. The “for citizenship” part is what got her, because lots of politicians are in sham marriages. [Journal News]

* Judge Frank Easterbrook thinks that the new proposed length limit for appellate briefs is too short. Verbose litigators everywhere, rejoice. [How Appealing]

* I thought “spoofing” was bad for the market, but Matt Levine says cracking down on spoofing “helps” high-frequency traders, who I also think are bad for the market. You know why I’m not an SEC lawyer? Prosecuting people based on them being “bad” becomes untenable when everybody involved is rich. [Bloomberg View]

My personal favorite: Peepemptory Challenges.

* To those of you who celebrate it, Happy Easter! Welcome the holiday by voting in the ABA Journal’s fifth annual “Peeps in Law” contest. [ABA Journal]

* If law firm brackets aren’t your thing, check out Professor Kyle Graham’s brackets for (1) law school classes and (2) law blogs. I’m thankful for ATL’s #1 seed but terrified by who we’re up against (because they’ve ripped me a new one before). [noncuratlex]

* Sorry, Judge Steiner, you wuz robbed; you should have been our Judge of the Day. It’s tough to top “allegations of a sexual quid pro quo with a female lawyer and the eye-opening confiscation of carpet from [chambers] for forensic analysis.” [OC Weekly]

William Shatner

* “William Shatner’s Seductive Powers Don’t Create a Fiduciary Duty.” Robyn Hagan Cain explains why. [U.S. Second Circuit / FindLaw]

* Citi settles securities cases for $730 million. Matt Levine is not impressed. [Dealbreaker]

* And Ted Frank is incensed by Bernstein Litowitz’s nine-figure fee request. [Point of Law]

* If you’re already depressed by public ignorance about the Supreme Court, don’t look at the responses to question 9 of this opinion poll. [Penn Schoen Berland]

* Steven Harper — author of a new (and very good) book about the legal profession, The Lawyer Bubble (affiliate link) — offers thoughts on the billable hour in the wake of the DLA Piper overbilling allegations. [New York Times]

To get a sense of how old and long-drawn-out the SEC’s insider trading lawsuit against Mark Cuban is, consider this: the company in which he allegedly insider traded was Mamma.com. The .com was right there in the name. Future generations — hell, present generations — will indiscriminately add “.com” to the end of words to create an old-timey feel, the way we doeth with “-eth.”1

Actually it happened in 2004, and I don’t even need the “allegedly”: there’s no dispute that Cuban insider traded. Everyone agrees that:

  • Mamma.com was planning to sell some stock in a PIPE offering which would, inevitably, drive down its stock price;
  • Mamma.com’s CEO called Cuban and told him about the planned PIPE offering in advance, hoping to get Cuban to buy more stock;
  • Cuban instead sold the stock he already had, prior to the public announcement of the PIPE deal; and
  • Then the PIPE was announced and the stock dropped.

So he had material nonpublic information, and he traded on it, and he avoided losses by doing so. INSIDER TRADING. The only debate is whether he insider traded illegally, which, as I often find myself reminding people, is a separate question. The SEC’s lawsuit2 turns not on the facts above, but on whether Cuban agreed not to trade before learning the inside information. Here the evidence is less clear, but there’s enough evidence that he did for the SEC to survive summary judgment yesterday and take the case to trial. Here is that evidence:3

Continue reading at Dealbreaker….


* Some thoughts from our colleague Matt Levine on the Justice Department’s opposition to the AT&T/T-Mobile merger. [Dealbreaker]

* Judge Sam Sparks (W.D. Tex.), king of the benchslap — yes, we already covered his latest handiwork, so no need to email the “kindergarten party” order to us again — has blocked key parts of the Texas sonogram-before-abortion law. [How Appealing]

* Meanwhile, Allen E. Parker Jr., the lawyer on the receiving end of a recent Sam Sparks special in the abortion case, had this to say about His Honor’s saucy order. [Tex Parte Blog]

* Nice work if you can get it: a pair of incoming DLA Piper associates will get paid $145,000 to $160,000 to do pro bono work for a year. [Am Law Daily]

Sen. Chuck Grassley (R-IA)

* Think you’re tough, NYC lawyers? “A D.C. attorney attacked a man with a live power line — downed by Hurricane Irene — during an altercation in which the lawyer used his car as a battering ram against his alleged victim, police said.” [Georgetown DC Patch]

* The ABA and Senator Chuck Grassley continue to be pen pals. Here is law librarian Mark Giangrande’s take on the ABA’s latest response. [Law Librarian Blog]

* Interesting analysis: “How the Media Treated Mexico’s Mass Murder.” [The Awl]

* I agree with Professor Eugene Volokh: “people are constitutionally entitled to speak the truth about others, even with the goal of trying to get them fired.” [Volokh Conspiracy via Instapundit]

* I found a special friend on OkCupid, but the site wasn’t as helpful to Alyssa Bereznak, who had an unfortunate experience dating a world champion of Magic: The Gathering. [Gizmodo]

* If you’d like to check out Billable Hours: The Movie, here’s your chance (until September 10). [NexTV]

* And if you prefer live entertainment, tomorrow night check out the September 1 showcase of Comedians-at-Law (bios here; maybe you know some of these guys). [Comedians-at-Law]

Tyler Clementi and Dharun Ravi: both said politically incorrect things.

* The Kardashians may be “America’s rightful overlords,” as Marin so memorably put it, but even they must respect intellectual-property laws. [Fashionista]

* Congratulations to the Best LGBT Lawyers Under 40 (class of 2011). Perhaps you know some of the inductees? [National LGBT Bar Association]

* In less cheerful LGBT news… another day, another Republican politician allegedly trolling the internet for paid male companionship. Stay classy, Phil Hinkle. [Indianapolis Star]

* Tyler Clementi joked about Dharun Ravi’s parents owning a Dunkin’ Donuts shop. [New York Magazine]

Must lobster salad contain lobster?

* So just who is behind Inside the Law School Scam? Con Daily got an interview with LawProf, and breaks down a list of schools where LawProf may be employed. [Constitutional Daily]

* The SEC is sniffing around S&P; Matt Levine explains why. [Dealbreaker]

* When it comes to taking “reasonable” steps to prevent disclosure of privileged materials, perfection is not required, according to Magistrate Judge Paul W. Grimm. [Catalyst E-Discovery Search Blog (Bob Ambrogi)]

* A popular grocery store on the Upper West Side thought that it could get away with mislabeling its lobster salad. Not so fast… where’s Kash when you need her? [New York Times]

If you are lawyer who is looking for a career change, you really might want to give blogging a try. You won’t make as much money as you would in a Biglaw job. You probably won’t make as much as you would working for a well-respected small law firm.

But money isn’t everything. Take it from me. Or Lat. Or Staci. For instance, right now I’m sitting in my backyard, my dog is curled up by my feet, and I have a fresh pot of coffee. Once I turn the ringer off on my phone (so I can’t hear my creditors calling), it’s a pretty good life. Beat that with a stick.

And it is with that in mind that we welcome another former lawyer to the Breaking Media fold. Check below to meet the new writer for our sister site, Dealbreaker

double red triangle arrows Continue reading “Career Alternatives for Attorneys: Seriously Guys, This Blogging Thing Might Have Legs”