The rise and fall of Melvyn Weiss is one of the most dramatic stories within the legal profession. The Bronx-born Weiss, a graduate of NYU Law School, founded Milberg Weiss, which went on to become the nation’s top class-action securities firm. Weiss and his partners became millionaires many times over.
But it turned out that the firm rested on shaky ground. In 2008, Mel Weiss pleaded guilty to participating in a kickback scheme that helped him get clients and cases. Weiss got sentenced to two and a half years in federal prison and had to pay more than $10 million in forfeitures and fines. Milberg Weiss itself had to pay $75 million to settle charges relating to the racketeering conspiracy.
Too bad Weiss had to do prison time. House arrest would have been pretty sweet in his waterfront mansion on Long Island’s Gold Coast, now on the market for $18.8 million….
* It’s springtime, and the nation’s highest court is getting ready to drop some of its biggest decisions yet. If Tolkien had written this, Justice Kennedy would be the one to bear the One Vote. [UPI]
* But for SCOTUS to maintain legitimacy in the eyes of the people, its justices must do battle against a “modern-day tsunami of special interests.” How well are they doing? [National Law Journal]
* To answer that question, let’s look at their record. Political labels aside, thus far, the Roberts court has shaped up to be “the most pro-business court since the mid-1930s.” [New York Times]
* Meanwhile, Justice Thomas has been busy taking shots at President Obama, noting that he always knew the first black president had to be pre-screened by “the elites” and “the media.” [Mother Jones]
* Sometimes even federal prosecutors are willing to take pity upon rich old white men: Mel Weiss, formerly of Milberg LLP, won’t be returning to jail after his foray into DUI territory. [Am Law Daily]
* “Chevron can afford to litigate this case ‘until hell freezes over.’ But [Steven] Donziger can’t.” As it turns out, clients who can’t pay their bills are problematic for John Keker of Keker & Van Nest. [Reuters]
Last week, I headed downtown to meet with Stephen A. Weiss and Eric Jaso, partners at the Seeger Weiss litigation boutique. Weiss co-founded the firm with Christopher Seeger in 1999. Jaso, who just joined the firm from Stone & Magnanini, is a friend and former colleague of mine from the U.S. Attorney’s Office. They kindly agreed to be interviewed about what it’s like to work at an elite, plaintiff-side litigation firm.
Here at Above the Law, we’ve always had strong coverage of the large, defense-oriented firms that collectively constitute Biglaw. In the past few years, however, we have dramatically expanded our offerings related to smaller law firms. We currently have three columnists — Brian Tannebaum, Tom Wallerstein, and Valerie Katz — writing in this space, in addition to the small-firm coverage generated by our other writers.
Consistent with this editorial expansion, I was eager to meet with Weiss and Jaso and hear about Seeger Weiss (which is relatively large for a plaintiffs’ firm, but small compared to a Biglaw firm). I’ve always wondered why more law school graduates don’t go into plaintiffs’ work and why we don’t hear about this side of practice as much. It can represent a chance to do well while also doing good, by vindicating victims’ rights or blowing the whistle on misconduct — especially in the qui tam practice area, a focus of Seeger Weiss.
As part of a nationwide tour, Above the Law is coming to the great city of Chicago.
Join preeminent law firm management consultant Bruce MacEwen, Katten Muchin Chicago managing partner Gil Sofer, and JPMorgan Chase & Co. assistant general counsel Jason Shaffer for a panel discussion (sponsored by Pangea3) on the evolutionary and market forces bearing down on the law firm business model. Come on by Thursday, November 20, at 6 p.m., for thought-provoking discussion, food, drink, and networking.
Space is limited and there will be no on-site registration, so please RSVP
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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.