Money

It has been a while since we last covered bonuses at WilmerHale. For whatever reason, associates at the firm are generally tight-lipped on the subject. Given WH’s merit-based compensation system, perhaps bonuses are too individualized to be comfortably discussed.

What can be said about bonuses at WilmerHale? According to Chambers Associate, bonuses go to lawyers who bill 1900+ hours. According to responses to the ATL Insider Survey, these bonuses could be better: even though WilmerHale is a “great” firm with “wonderful” people, “[t]he ‘merit based’ compensation structure is a thinly veiled cost-saving measure.”

But are bonuses getting better at WilmerHale? Maybe….

(Please note the multiple UPDATES added to the end of this post.)

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When we recently ranked top law firms based on responses to the ATL Insider Survey, readers raved about Wilson Sonsini, which took the #5 spot on our list of the top 12 firms. According to one respondent, the firm boasts “entrepreneurial meritocracy, the best client base, endless opportunities, and smart helpful people. It is a unique place, perfect for the self-motivated overachiever.”

In terms of the five specific survey metrics, Wilson fared best in the compensation department. On a 10-point scale, WSGR scored an impressive 8.73 (out of 10) in terms of satisfaction with pay. (The firm’s other scores: 8.63 for culture, 8.33 for training, 7.80 for morale, and 7.33 for hours.)

But will Wilson Sonsini be able to maintain its high score on the comp front? Not everyone is happy with the firm’s latest bonuses….

(Please note the multiple UPDATES added to the end of this post.)

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Congratulations to the Latham & Watkins lawyers who participated in Movember. In November 2013, Team Latham raised more than $7,000 to fight testicular and prostate cancer. Movember might have hurt Procter & Gamble’s bottom line, but it helped raise awareness of important issues in men’s health.

And congrats to Latham lawyers on their 2013 bonuses. The bonuses were announced last Friday and will be paid this Friday.

(Yes, law firm season rolls on, even though it’s past its peak. We’re working on a few bonus stories but need additional data points on some firms — e.g., WilmerHale. If you can help us out, please email us or text us: 646-820-8477.)

If you want to see a bunch of Latham lawyers sporting facial here, click here. If you want information about Latham bonuses, including but not limited to the firm’s bonus memo, keep reading….

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* Who doesn’t love fee voyeurism? It pays to be a winner in an antitrust case. How many millions did Robins Kaplan just rake in? Just part of the largest attorney fee award ever handed out in a private antitrust case, no biggie. [Am Law Daily]

* In this glass half-full world, about half of state Attorneys General are in favor of gay marriage — but some of them would go ahead and defend their state’s laws anyway. Boo. [WSJ Law Blog]

* It might be “pretty basic,” but Chris Christie received a document subpoena over the Bridgegate scandal. Not for nothing, but we hear that the governor was in the middle of bringing about world peace when he got the news. [Bloomberg]

* Hofstra Law is the latest school to launch its own “law school law firm” in an effort find jobs for its graduates close the justice gap. Welcome aboard the bandwagon, enjoy your stay! [Hofstra Law News]

* Hunter Moore, the king of online revenge porn, was indicted on 15 federal charges by a grand jury. “We’re superpleased that the FBI have brought this to fruition,” says a victim’s mother. So is everyone else. [TIME]

* “I have this much respect for the American judicial system.” George Zimmerman has a new painting for sale, and this time he’s ripping the Special Prosecutor who charged him with second-degree murder. [CNN]

Law schools believe that if you start making people give to your program early, you increase the chances of turning them into lifelong alumni donors. That’s why schools try to start their alumni giving campaigns while students are still on campus. It’s not that your law school thinks they’ll make a lot of money off of graduating 3Ls. But they believe that a $20 pledge while students are on campus is the gateway drug to a $200,000 donation in twenty years.

It all makes a lot of sense for the law school, but what do the graduating students get out of it? A lot of students will be paying off their law school tuition for decades, and many will have to start making those repayments before they get a good legal job. Law schools spend money on a slick alumni giving team, with the law school dean serving in the role of “fundraiser-in-chief.” But 3Ls need their schools to focus on “job-raising” instead of fundraising.

To the extent that 3L giving is a reflection of the services rendered by the law school over three years of expensive education, you’d expect a lot of law schools to get squat out of their 3L giving campaigns. That is exactly what one law student is suggesting to his fellow classmates.

The fun thing is that this 3L is on the committee for 3L fundraising…

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The law firm of Goodwin Procter is in the news these days. Some of the firm’s top trial lawyers are defending Mathew Martoma — formerly of SAC Capital and Harvard Law School, where he famously falsified a transcript — in one of the biggest and most exciting insider-trading cases in history.

(Fun fact: one of the members of Martoma’s trial team, Roberto Braceras, is the son-in-law of Judge José A. Cabranes. So if the Martoma case ever winds up before the Second Circuit, Judge Cabranes may have to recuse.)

Martoma earned millions while at SAC Capital, and some of that money will be making its way into the coffers of Goodwin Procter. And some of that money will then get paid out as associate bonuses, which the firm recently announced….

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When it comes to law firm bonus news, there’s no such thing as “too late.” Heck, we covered Wachtell Lipton’s bonuses for 2011 and 2012 just last week.

If you have Biglaw bonus news that we have not yet covered, please email us or text us (646-820-8477). We’re always happy to hear from you.

Last month, Dechert announced the price it pays for associate talent. Let’s travel down this bonus road, shall we?

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The court will not countenance the gross overreaching evidenced under the facts and circumstances of this case in which the client is not even being billed for legal services. To move any court to put its imprimatur of approval on such practices is simply intolerable.

– Judge Frank Nervo, denying a Biglaw firm’s request for more than $126,000 in attorneys’ fees in a lawsuit over a $6,400 security deposit. Judge Nervo added that the firm spent “a grossly unnecessary amount of time” on simple tasks, including “research on the most basic and banal legal principles.”

(Which firm was on the receiving end of this benchslap? Find out after the jump, where we’ve posted the full opinion.)

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Judge Boyce F. Martin Jr.

Judicial misconduct comes from all across the ideological spectrum. Judge Richard Cebull of Montana, who reportedly spewed out racist emails like an ATM dispensing twenties, was an anti-Obama conservative. Meanwhile, Judge Boyce F. Martin Jr., whose ethical troubles we alluded to yesterday, was a prominent progressive on the Sixth Circuit.

Judge Martin was appointed to the court in 1979 by President Jimmy Carter and wrote major opinions attacking the death penalty and defending affirmative action. He also penned fun opinions that included references to The Simpsons and Austin Powers.

Alas, this liberal lion has roared his last. Did an investigation into possible judicial misconduct help drive Judge Martin from the bench?

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Let’s be honest: despite being the Biglaw version of the Titanic, the collapse of Dewey & LeBoeuf could have been worse. Even though the Dewey dissolution constituted the largest law firm collapse in history, many D&L lawyers and staff were able to find new employment. Even Steve Davis, the disgraced ex-chairman of Dewey, landed a new gig.

But not everyone emerged unscathed. Some attorneys and staffers never got back on their feet professionally. Many Dewey partners scored new positions, but not all of them took all of their people with them to their new firms.

And even some partners are still suffering. In fact, one former Dewey partner, now a partner at another major law firm, recently filed for personal bankruptcy….

(Please note the UPDATE at the end of this post.)

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