“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:
Billionaires can get away with a lot because they’re billionaires and can get pretty much whatever they want at any given moment. Except childhood sleds.
Couple billions of dollars with running an eight million person personal fiefdom, and it’s not surprising that Mayor Michael Bloomberg has developed an unhealthy disrespect for any other authority.
Unfortunately for him, there are higher authorities in this world, and Bloomberg may have finally done enough to get the public spanking he’s been courting.
Friday afternoon, Mayor Bloomberg walked once again into the thresher maw that is the legal quagmire of his “stop and frisk” program by declaring that the program, criticized as racial profiling writ large, “stops too many whites.”
Well, Bloomberg is probably right. The program does stop too many whites…
If you were hoping to spend a year with no pay helping a premier Internet publication write up a sighting of Amanda Bynes at Shake Shack, you may soon be out of luck.
On the heels of Judge William Pauley ruling in favor of unpaid interns in the entertainment industry, the Internet behemoth that is Gawker Media is the subject of a new class action for its unpaid internships.
Which means this was probably a bad day for them to make jokes about the practice of abusing interns…
The NYPD really loves its stop and frisk policy. The prospect of randomly stopping exclusively minorities a random selection of New Yorkers really excites the department. And why not? The practice has done wonders to prevent crime in the city. Well, if you define “crime” as pot possession. Because the policy hasn’t accomplished much of anything else.
Now the constitutionality of the policy is in jeopardy, awaiting a decision from Judge Shira “Don’t Call Me Judy” Scheindlin, the judge the City decided to embarrass by commissioning a report accusing her of bias because the City is incredibly stupid.
When and if (OK, “when”) Judge Scheindlin strikes down the current iteration of the policy, Eric Holder has a suggestion for how to remedy the violation. And Mayor Mike Bloomberg is none too pleased…
BP Interns preparing to take over operations at Deepwater Horizon, April 19, 2010.
For the record, that was not the “royal ‘we’” in the title — here at Above the Law, we pay our interns. But a whole lot of folks don’t, because when no one else is hiring, companies can get away with offering to hire folks for the promise of experience and a cup of coffee (disclaimer: “Cup of Coffee” not provided).
Mercifully, law firms haven’t succumbed to the impulse to bring on interns for free. Oops, spoke too soon (fourth item).
But Judge William Pauley of the Southern District of New York delivered some big wins for unpaid interns yesterday…
These are trying times for clerkship applicants. The Law Clerk Hiring Plan is pretty much dead, at least in its strictest version, and it seems like every judge is going his or her own way.
The best applicants can hope for, in the absence of any standardized approach to law clerk hiring, is transparency. Ideally judges should provide clear and comprehensive information about their own particular approaches to hiring clerks. Thanks to this nifty thing called the internet, it’s not that hard.
As in many things, the Southern District of New York provides a model for other courts to follow….
Last month, the powers-that-be behind OSCAR (the Online System for Clerkship Application and Review) made some changes to the remnants of the Law Clerk Hiring Plan (to the extent that folks still follow the Plan). The upshot: OSCAR will release the electronic clerkship applications of rising 3Ls on June 28, 2013, at 12:00 p.m. (ET). At that point, judges are free to schedule and conduct interviews and make clerkship offers.
In writing about this news, I questioned the wisdom of this approach: “The Plan provides for ‘a single date to receive applications, schedule and conduct interviews, and make clerkship offers.’ This could be a recipe for an utterly shambolic process, a mad scramble for talent on June 28, full of hastily conducted interviews, exploding offers, and questionable behavior by both judges and applicants.”
Well, it seems that some judges agree with this analysis and are taking a different tack….
The trustee… having for more than three years issued empty threats to seek a halt to the attorney general’s suit, has lost his right to complain. Even on the merits, moreover, his bluster proves to be without substance.
Facebook has an important role in modern society, specifically sharing baby/cat pictures and facilitating high school reunion planning. Oh, and disappointing amateur investors.
Now, in at least one case, the government will use Facebook to serve defendants.
The decision reflects the growing faith in the reliability of electronic messaging, taking jurisprudence further down the path started when courts began recognizing email service. On the other hand, Facebook’s messaging kind of blows. I constantly find messages in my inbox days after they were sent.
I assume service is effected by uploading a picture of the filing and tagging it “You”….
[The article] lays it out. It gives motive, it gives you methodology, it reflects experts who think it’s valid. This is not the only piece. This article takes the same kind of approach that you have taken in this case.
I mean, frankly, I am totally puzzled, given that plaintiffs’ bar in this area uses the Wall Street Journal as their source of clients and cases, right? You guys read it every day, looking for scandal, right? Other people read People Magazine, but you read the Wall Street Journal.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past six years. You can reach them by email: email@example.com.
We currently have a very exciting and rare type of in-house opening in China at one of the world’s leading internet and social media companies. Our client is looking for an IP Transactional / TMT / Licensing attorney with 2 to 6 years experience. The new hire will be based in Shenzhen or Shanghai. Mandarin is not required (deal documentation will be in English) but is preferred. A solid reason to be in China and a commitment to that market is required of course. This new hire will likely be US qualified (but could also be qualified in UK or other jurisdictions) and with experience and training at a top law firm’s IP transactional / TMT practice and could be currently at a law firm or in-house. Qualified candidates currently Asia based, Europe based or US based will be considered. The new hire’s supervisors in this technology transactions in-house team are very well regarded US trained IP transactional lawyers, with substantial experience at Silicon Valley firms. The culture and atmosphere in this in-house group and the company in general is entrepreneurial, team oriented, and the work is cutting edge, even for a cutting edge industry. The upside of being in an important strategic in-house position in this fast growing and world leading internet company is of the “sky is the limit” variety. Its a very exciting place to be in China for a rising IP transactional lawyer in our opinion, for many reasons beyond the basic info we can share here in this ad / post. This is a special A+ opportunity.
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When Chintan Panchal decided to leave a global BigLaw partnership to start his own firm, he could only hope that he would face the high-quality problem of firm building that many had cautioned him about. Focused on the uncertainty surrounding of a new firm launch, he decided to tackle staffing needs, IT challenges, and financial planning requirements after he had built up his legal practice.
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