On the transactional side, things seem to be going gangbusters for Skadden Arps. As we noted yesterday, the firm took the top spot in three separate rankings of 2012 M&A work. In 2011, a different firm sat atop each set of rankings, but in 2012, Skadden ruled them all.
On the litigation side, though, the new year has brought new headaches for Skadden. Earlier this month, a high-profile partner at the firm, along with another partner and an associate, got hit with a big benchslap. A federal judge issued an order to show cause, asking the Skadden lawyers to explain why they should not be sanctioned, and set “a status hearing in open court…. [at which the attorneys] are all directed to appear in person.” Ouch.
Skadden recently filed its response to the OSC. Let’s review the benchslap, then see what the Skadden lawyers had to say for themselves….
It’s the last day of December, so it’s a good time to look back on the year that was. We’ll do what we’ve done for the past three years (wrap-up posts from 2009, 2010, and 2011 can be found here, here, and here) and identify the ten biggest stories of the past year as decided by you, our readers. With the help of Google Analytics, we’ve compiled a list of our top ten posts for 2012, based on traffic (as represented by pageviews).
By the way, for the third year in a row, the most popular category page on Above the Law was Law Schools. People have now been intensely focused on the declining value proposition of going to law school for as long as it takes to earn a Juris Doctor degree. Isn’t it time that we graduate from the current educational model?
The second and third most-popular categories on ATL in 2012 were Biglaw and Bonuses. Although this year brought us the largest law firm failure ever, nearly all other firms indiscriminately doled out offers to summer associates, and bonus season looked better for the first time in years. While the legal profession is still in transition, things are certainly looking up, and through the highs and the lows, we’ve been there to cover it all.
So what were the ten most popular individual posts at Above the Law in 2012? Let’s find out….
* “To do nothing in the face of pending disaster is to be complicit. It’s time to act. It’s time to vote.” What a convenient time to discover that the Department of Justice tabled new gun control proposals in favor of an upcoming election campaign. [New York Times]
* Rumor has it that the president will nominate Senator John Kerry to be secretary of state for his second term. Upon hearing the news, Hillary Clinton updated her Tumblr page before she caught a case of the vapors, fainted, and got herself all concussed. [CNN]
* “If you don’t know, then you have to plan for the worst.” Everyone’s pissed off about the possibility of being pushed off the fiscal cliff, but on the bright side, it’s creating a mountain of billables. [National Law Journal]
* Remember the judge who resigned after he accidentally showed a colleague a picture of the “judicial penis”? He was removed from office by a judicial ethics panel. How very effective. [Seattle Post-Intelligencer]
* And for the talent portion of the competition, Alicia Guastaferro, the pageant princess who was picked up for prostitution after getting caught with an attorney, will have her hooking charges dropped. [Huffington Post]
The only people who hate final exams as much as students are the professors who must eventually grade them. Some professors look at finals with open disdain. It takes them away from scholarship and they don’t even get the thrill of hearing themselves talk in a packed lecture hall.
Maybe it’s because so many professors hate giving exams that there seem to be so many screw-ups. Mistakes will happen, but often it doesn’t seem like schools have a clear plan of fixing mistakes in a way that is fair to all students.
NYU Law School has had its fair share of exam mishaps. It’s a long and embarrassing list.
But maybe NYU Law is finally starting to learn from past mishaps. Oh, the faculty still make mistakes when it comes time to administer exams, but this time the solution is that the professor is going to do extra work.
Then again, maybe it’s working extra hard after you’ve made an error that separates this famous NYU professor from the rabble….
There’s always something interesting going on over at Greenberg Traurig. Over the summer, we covered their capital call. Earlier in the year, we wrote extensively about the drama in Coquina Investments v. TD Bank, a case in which the firm got sanctioned. Last month, we mentioned in passing the firm’s quiet settling of claims brought by current and former NFL players alleging that the firm failed to warn them adequately about investing in an ill-fated Alabama casino project.
Last December, we brought you a story about some rather embarrassing news for Joe Amendola, Jerry Sandusky’s attorney (no, not this attorney). Apparently Amendola suggested that anyone who believed Mike McQueary witnessed a rape, reported it, and nothing was done about it, should dial 1-800-REALITY. As it turns out, 1-800-REALITY is a gay sex hotline, whose opening message begins like so: “Hey guys, welcome to the hottest place for triple-X action.” Amendola’s faux pas was shockingly inappropriate given the nature of Sandusky’s crimes.
Today, we’ve got yet another story about a law school graduate who inadvertently gave out the number for a phone sex line, but this time he’s not a defense attorney — he’s the Governor of Florida….
Lawyers aren’t exactly a loosey-goosey bunch when it comes to making mistakes. Sometimes they even intentionally blow small mistakes out of proportion in order to prevent goofs down the line. So what do you do when someone makes a pretty egregious mistake on the cover of a state legal guidebook? Well, as a tipster suggests, maybe “klil” yourself.
Barring such drastic measures, we recommend making jokes instead. Click thru to see the photo for our latest caption contest….
A friend of mine — now a successful partner — told me a story about when he was a junior associate at a well-known Biglaw firm. Phil used to work for a superstar partner who was incredibly well respected by his colleagues and clients, but somewhat feared by junior associates. Phil told me about the time when he had to confess to the partner that he had inadvertently produced to their adversary a small number of documents that had been tagged as “non-responsive”; i.e., documents that did not need to be produced because the adversary had not requested them.
Phil expected yelling and screaming, profanity, maybe a fist pounding on the table. But instead, the partner was silent. His face showed disappointment, not anger. He slowly shook his head side to side several times, muttering to himself, seemingly unable to comprehend why fate should be so cruel as to condemn him to work with such incompetents. He rubbed at his face and eyes, first with one hand, and then the other, as if he hoped to awaken himself from a stubborn bad dream.
After several moments, he sighed loudly, and looked at Phil with seeming pity. He sighed again, to make sure my friend fully comprehended the weight of despair that he was bearing, and then once more, for good measure. Finally, the partner said simply, “We’ll have to call the carrier.”
Jiminy jillickers! ATL editors are going all over the place over the next month or so. Or at least all over the Eastern Seaboard. If we aren’t heading to your neck of the woods on these trips, never fear, we may hit you up on the next time around. We’ve already hit up Houston, Chicago, Seattle, San Francisco, and Los Angeles in the past year.
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.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: