The purpose of a quote is to be quoted and draw attention to the case. Laypeople can’t read a complaint.
Preetinder S. Bharara
- Department of Justice, Hedge Funds / Private Equity, Insider Trading, S.D.N.Y., Securities Law, U.S. Attorneys Offices, Wall Street, White-Collar Crime
“For example, on or about July 29, 2009, a recently hired SAC PM (the ‘New PM’) sent an instant message to [Steve Cohen] and relayed that, due to some ‘recent research,’ the New PM planned to short Nokia when he started work 10 days later. The New PM apologized for being ‘cryptic’ but noted that the head of SAC compliance ‘was giving me Rules 101 yesterday – so I won’t be saying much[.] [T]oo scary.’”
Possibly the weirdest part here is that new hires got compliance lectures two weeks before they showed up at the firm? But maybe not; the DOJ takes a pretty dim view of SAC’s hiring process generally, and if you believe the DOJ that SAC’s main hiring criterion was “is good at insider trading,” then you could imagine the need for a little pre-start-date warning in email etiquette:
- Biglaw, Death Penalty, Department of Justice, Eric Holder, Law School Deans, Law Schools, Money, Morning Docket, Politics, Securities and Exchange Commission
* The Department of Justice announced federal charges against suspected Boston bomber Dzhokhar Tsarnaev yesterday, leaving the decision of whether the death penalty will be sought in Eric Holder’s hands. [National Law Journal]
* Andrew Ceresney, most recently of Debevoise, was appointed to run the SEC’s enforcement bureau alongside George Canellos, an agency veteran. Maybe they’ll both be able to boost morale. [DealBook / New York Times]
* “[T]he best way to find Albany on a map is to look for the intersection of greed and ambition.” Preet Bharara is mad as hell about corruption, and he’s not going to take it anymore. [New York Law Journal]
* If Anthony Weiner decides to join the New York City mayoral race, partners from Am Law 200 firms will be responsible for his second coming thanks to their pre-wiener scandal funding. [Am Law Daily]
* “It’s done. Turn the page. The distraction is over.” The new dean of St. Louis University’s law school would like to move forward from the “slow-motion train wreck” of years past. [St. Louis Post-Dispatch]
It turns out, Mongolia was right.
Back in May, we told you about a lawyer who, on behalf of the president of Mongolia, was involved in his own crusade to stop the auction of precious Tyrannosaurus bones. Lawyer Robert Painter and President Elbegdorj Tsakhia argued that a Tyrannosaurus bataar skeleton had been smuggled out of Mongolia to be sold in America.
Eventually, U.S. Attorney Preet Bharara of the S.D.N.Y got involved, on the side of Mongolia. It turns out that this Mongolian dinosaur was just the tip of one man’s international smuggling operation.
That man pleaded guilty yesterday….
Last week, federal prosecutors in Manhattan charged two former stockbrokers, Thomas Conradt and David Weishaus, with insider trading. There is a legal angle here (aside from the criminal charges and the civil case being brought by the SEC): Conradt is a lawyer, a member of the Maryland and Colorado bars, and Weishaus graduated from the University of Baltimore School of Law a year after Conradt.
To be honest, though, we’re not intensely interested in Conradt and Weishaus. Their alleged misdeeds occurred while they were working in finance, not law; the contours of Conradt’s legal career are somewhat unclear; and as for Weishaus, it’s not clear that he ever passed the bar or practiced as a lawyer.
As regular readers of Above the Law know, we have a weakness for prestige around these parts. So we’re far more interested in the former Cravath associate who, according to law enforceent allegations, made their misdeeds possible….
- Barack Obama, Biglaw, Deaths, Disasters / Emergencies, Election 2012, Election Law, Eric Holder, Gay Marriage, In-House Counsel, Law Schools, Marijuana, Morning Docket, State Judges
* “We know in our hearts that for the United States of America, the best is yet to come.” Barack Obama was re-elected as president. Bring on the hope and change! No, seriously. [New York Times]
* In news that shouldn’t come as a surprise, regardless of who won the presidential race, there are still post-election voting issues that will likely be resolved in the courts. [Blog of Legal Times]
* But what we really want to know is who will be our country’s next attorney general. Because if anyone can fill Eric Holder’s shoes, it’s Preet Bharara, the U.S. attorney for the S.D.N.Y. [WSJ Law Blog]
* In other important news, several states approved gay marriage ballot initiatives, and others legalized marijuana. But hopefully you don’t have a case of the munchies yet — federal law still says it’s illegal. [CNN]
* They helped American citizens “ba-rock” the vote: hundreds of law students from around the country rallied around the craziness of Election Day to volunteer their assistance to worthy causes. [National Law Journal]
* Biglaw firms in NYC are still reeling after Hurricane Sandy. While WilmerHale set up temporary offices last week, both SullCrom and Fried Frank could be out of commission for weeks. [Reuters; New York Times]
* At this point, in-house counsel are kind of like the McKayla Maroneys of the legal profession, because they are seriously unimpressed with outside counsel’s efforts to improve services and fees. [Corporate Counsel]
* Judge Theodore Jones, associate judge of the New York Court of Appeals, RIP. [New York Law Journal]
We’ve been carving out a little dinosaur law beat over the last several months, thanks to the contentious auctioning off of a Mongolian Tyrannosaurus bataar skeleton. The auction was interrupted when the Mongolian president’s attorney stood up and shouted, “I’m sorry, I need to interrupt this auction. I have a judge on the phone,” in an unsuccessful attempt to stop the sale.
Unfortunately for the anonymous million-dollar winning bidder, the dinosaur bones are stuck in limbo a little longer. Lawsuits have been flying around in the aftermath of the auction, and yesterday, New York police arrested the archaeologist who allegedly brought the bones to the U.S.
And now, ladies and gentlemen, we are leaving Jurassic Park and entering DaVinci Code Land. Please keep your hands and legs inside the vehicle…
Now that classes are back in session, I really hope some professor at Cardozo Law School pulls Benula Bensam aside and tells her that her keeping the story about her passing notes to Judge Jed Rakoff (S.D.N.Y.) alive is probably not helping her chances of securing a legal job.
You’ll remember Bensam as the student who got reprimanded for passing notes to Judge Rakoff during the Rajat Gupta trial. She went on to sue federal prosecutors and marshals for a number of claims arising out of largely standard courthouse security protocols. As we’ve previously discussed, upon leaving the courthouse Bensam wanted her cell phone back and had problems getting it.
Judge Andrew L. Carter (S.D.N.Y.) kicked most of Bensam’s case today, but he did give her leave to file an amended complaint on one issue.
For her sake, I hope she doesn’t take it…
- Bad Ideas, Cardozo Law School, Federal Judges, Jed Rakoff, Law Schools, S.D.N.Y., Trials, U.S. Attorneys Offices
Do you remember Benula Bensam? You probably don’t. She was the student at Cardozo Law School who spent part of her summer watching the Rajat Gupta trial. She was reprimanded for sending notes to Judge Jed Rakoff (S.D.N.Y.), including some that questioned Rakoff’s rulings. Such behavior could be seen as an attempt to improperly influence a judge, and so Rakoff had the U.S. Marshals bring her before him, and he told her to cut it out.
Yeah, you remember her now. It was a humorous story about a law student who was maybe a little bit overzealous.
But now Bensam is taking things to the next level. Instead of quietly learning her lesson and getting ready for next semester, the Cardozo student has decided to sue a whole slew of people. She claims that U.S. Marshals didn’t return her cell phone — before they returned her cell phone — and so she’s suing the Marshals, courthouse security, the U.S. Attorney for the S.D.N.Y., and several other defendants. In the process of suing, she’s also revealing how she had what I’d call a bit of a nutty outside the courthouse.
This complaint is just going to do wonders for her Google footprint….
The battle between Mongolia and a Texas-based auction house over control of rare Tyrannosaurus bones is getting bigger. I’m telling you that when BBC gets around to making the documentary Walking With Dinosaurs And Their Attorneys, you’re going to want to watch it.
Let me bring you up to speed: Last month, Heritage Auctions tried to auction off a rare Tyrannosaurs bataar skeleton. The animal is believed to have lived in what is now Mongolia between 70 and 100 million years ago. And now its bones that are worth an incalculable amount to science can be sold for around a million dollars to private collectors. The auction has been held up though, thanks to a temporary injunction obtained by representatives of Elbegdorj Tsakhia, the president of Mongolia. They claim the skeleton was illegally taken away from Mongolia and want it returned. In response, the long dead Tyrannosaur said “AAAAHHHNNN,” and wondered why the opposable-thumbed ones insist on trying to own nature.
When we last we checked in, Heritage Auctions said it was working with Mongolian authorities to resolve the issue. But now the U.S. Attorney for the Southern District of New York and Homeland Security is involved(!!!).
Man, I wish Michael Crichton was still alive, because Triassic Terrorists is a novel that needs to be written….