Securities and Exchange Commission

  • Justice Sonia Sotomayor

    Morning Docket

    Morning Docket: 08.20.15

    * You’ve heard about what it’s like to be a Supreme Court clerk, but we bet you’ve never heard about what it’s like to be a Supreme Court intern. It’s apparently the “opportunity of a lifetime” to do errands and prepare lunch and meals for Justice Sonia Sotomayor. [Supreme Court Brief]

    * If you’re trying to file an effective brief with the Supreme Court, it’s best to write in “relatively short sentences, with a non-confrontational tone.” In other words, you really shouldn’t be trying to emulate Justice Scalia’s “jiggery-pokery” flair. [Big Law Business / Bloomberg BNA]

    * Wachtell Lipton may interested in going “big brother” on its associates, but when it comes to the Securities and Exchange Commission, the firm wants to steer clear of such voyeurism by doing away with clients’ quarterly reports. [Wall Street Journal (sub. req.)]

    * This judge didn’t play “just the tip” when it came to piercing his corporate veil: Paul Hansmeier of copyright-troll firm Prenda Law must pay sanctions to the tune of $64,000 after he drained cash from another one of his firms and then dissolved it. [Ars Technica]

    * Texas Tech Law is introducing a “brain-training” seminar for its first-year law students that will “maximize their brains’ performance.” One wonders if they took such a course before law school if they’d be enrolled in the same place. [Lubbock Avalanche-Journal]

    69 Comments / / Aug 20, 2015 at 8:59 AM
  • Robot Lawyer

    Morning Docket

    Morning Docket: 08.10.15

    * Hot on the heels of the news that the majority of students enrolled in California’s “failure factories” unaccredited law schools drop out before graduation, legislators are pushing for the state bar to do something about it before even more prospective students are conned. [Los Angeles Times]

    * Robots will be coming for your jobs more quickly now thanks to the largest law firm in the world. Dentons invested an untold sum in Ross, an app that will inevitably replace first-year lawyers by utilizing super computer Watson’s artificial intelligence to perform legal research. [Globe and Mail]

    * Slowly but surely, the legal industry is making a comeback in terms of headcount. Sure, the entire profession is only employing 3,500 more people now than it was at this time last year (sorry about that, law school grads), but it’s still an improvement. [Am Law Daily]

    * Just because it doesn’t look like the Securities and Exchange Commission has been doing anything doesn’t mean that lawyers at the agency have been twiddling their thumbs. They’ve got some major things in the works, they swear. [DealBook / New York Times]

    * “I wonder how it feels to save the life of a mass murderer? Good job.” In a shocking verdict, convicted Colorado movie theater shooter James Holmes was sentenced to life in prison. All it took was one holdout juror to take the death penalty off the table. [Reuters]

    13 Comments / / Aug 10, 2015 at 9:00 AM
  • Gavel

    White-Collar Crime

    Should Judges Interpret the Law?

    Judge Rakoff suggests that administrative actions not only tilt the outcome further toward the government, they make bad law.

    18 Comments / / Jul 2, 2015 at 9:46 AM
  • Juan Monteverde and Alexandra Marchuk

    Non-Sequiturs

    Non-Sequiturs: 06.04.15

    * New developments in everyone’s favorite soap opera of a case: Faruqi & Faruqi LLP is cross-appealing the $140,000 judgment in favor of former associate Alexandra Marchuk. [Law360]

    * Whoa. There’s one SEC Commissioner actually doing her job! So retro. Stay strong, Commissioner Stein. [Guile Is Good]

    * Congress is working on a bill to prevent companies from foisting non-compete clauses on employees making less than $31,200/year. But, but, then someone else might learn the important trade secret of the Colonel’s 11 secret herbs and spices! [Lawyers, Guns & Money]

    * Senior and junior lawyers speak a different language. This article comes to us from the U.K., but the sentiment is universal, even if the phrase “bugger off” isn’t. [Legal Cheek]

    * Prosecutor called Asian Americans “greedy foreigners.” That goes over about as well as you’d expect. [Angry Asian Man]

    * David spoke with the Legal Talk Network about “the importance of friendship and family and the psyche of young lawyers who often compromise personal relationships for career ambitions.” If you guessed they were discussing Supreme Ambitions (affiliate link), then you’re right. [Legal Talk Network]

    * Where are LL.M.s valuable? [LLM-Guide]

    * Lawyer sues EFF for calling his patent stupid. We here at Above the Law would like to reiterate that this patent is brilliant and probably the most Earth-shattering invention since the light bulb. [Corporate Counsel]

    * Maybe legalizing drugs doesn’t solve all the violence. [Seattle Times]

    3 Comments / / Jun 4, 2015 at 5:11 PM
  • grade inflation

    Morning Docket

    Morning Docket: 06.03.15

    * C. Michael Kamps, the man who filed a pro se suit against Baylor Law with claims that he was denied admission because his GPA predated grade inflation, recently lost his bid to get SCOTUS to review his case. It’s too bad — he seems like a total gunner. [ABA Journal]

    * If you thought that Ruth Bader Ginsburg was the biggest celebutante justice on the Supreme Court, then you’d be dead wrong. According to Professor Rick Hasen’s research, it’s Sonia Sotomayor who’s stealing the spotlight at the high court. [WSJ Law Blog]

    * Senator Elizabeth Warren, the queen of taking Wall Street to task, now has her sights set on SEC Chairwoman Mary Jo White. In a 13-page letter, the politician called the former Debevoise partner’s tenure “extremely disappointing.” [DealBook / New York Times]

    * Ex-House Speaker Dennis Hastert’s arraignment was rescheduled from this Thursday to next Tuesday. No reason was given for the change, but maybe it has something to do with the fact that there’s still “no attorney of record” on the case. [National Law Journal]

    * Many doctors are hoping that tort reform will save them from litigating their malpractice cases, but there’s an easy alternative. In order to be sued less often, doctors should try to talk more to their patients. What a novel concept. [The Upshot / New York Times]

    21 Comments / / Jun 3, 2015 at 9:00 AM
  • 'I misread the question.'

    Morning Docket

    Morning Docket: 03.31.15

    * Reunited and it feels so good… to have more tuition money in our pockets: following more than 40 years apart, Rutgers-Camden Law and Rutgers-Newark Law may merge to create the Rutgers School of Law, one of the largest law schools in the country. [NJ.com]

    * In case you missed it, the courtroom erupted into chaos in the final moments of the Ellen Pao v. Kleiner Perkins trial because a juror “made a mistake” and decided to change his vote mid-verdict. Come on, give the guy a break — he’s almost 90. [WSJ Law Blog]

    * Lawmakers are awfully interested in the way that the SEC is doing its job, and they’re drafting new laws in the hope of helping the agency out. We’ll let you know how helpful this was in a few years if those bills are ever passed. [DealBook / New York Times]

    * After an incredibly unsuccessful defense of its ban on same-sex marriage, Wisconsin is going to have to shell out more than $1 million in legal fees to the ACLU — the largest single payout yet by a state in the history of cases of this kind. [National Law Journal]

    * If you’re looking to transfer to another law school after your first year in the trenches, here are three things that you absolutely, positively must do to ensure your chances of being accepted elsewhere. [Law Admissions Lowdown / U.S. News & World Report]

    8 Comments / / Mar 31, 2015 at 9:05 AM
  • Hilary Bricken

    Marijuana, Securities and Exchange Commission

    Publicly Traded Marijuana Companies: Buyer Buzzkill

    Do your due diligence before making a private marijuana investment, and do the same before you invest in any publicly traded marijuana company.

    / Mar 30, 2015 at 4:20 PM
  • powerfull employees on white

    White-Collar Crime

    Is Being a Bad Employee a Crime?

    DOJ has a clever new theory about how it can put everyone in jail.

    20 Comments / / Mar 12, 2015 at 9:57 AM
  • Mary Jo White

    Morning Docket

    Morning Docket: 02.24.15

    * Mary Jo White’s sizable net worth is causing sizable headaches over at the SEC. [DealBook / New York Times]

    * If you work at a law firm and take way too long to perform simple tasks in Microsoft Word or Excel, shape up: a new test, developed by former in-house lawyer Casey Flaherty, could expose your weaknesses — and lead to your work being discounted. [Capital Business / Washington Post]

    * More from Howard Bashman about the misadventures of Howard Shipley, the Foley & Lardner partner who might get spanked by SCOTUS for a bizarre filing. [How Appealing]

    * An S.D.N.Y. jury held the Palestinian Authority and the Palestine Liberation Organization liable for supporting six terrorist attacks and issued a verdict of $218.5 million — an award that will under the law get tripled (collected remains to be seen). [WSJ Law Blog]

    * Wall Street banks and their law firms are getting serious about cybersecurity. [New York Times]

    * Thanks to Emily Kelchen for her review of Supreme Ambitions (affiliate link), which she calls “a true legal thriller.” [Wisconsin Lawyer]

    13 Comments / / Feb 24, 2015 at 9:22 AM
  • hewitts

    Non-Sequiturs

    Non-Sequiturs: 02.12.15

    * Meet Hewie, a cuddly puppy adopted by a law firm to act as its social media avatar. Wachtell was considering the same thing, but Ragnok, Destroyer of Souls, wasn’t up for adoption. [Legal Cheek] * After throwing a hissy-fit over nuts, Korean Air Lines’ Heather Cho is sentenced to one year. Luckily for her […]

    13 Comments / / Feb 12, 2015 at 5:29 PM
  • pizza pepperoni pizza

    6th Circuit, Bar Exams, Football, Free Speech, Job Searches, Law Schools, Non-Sequiturs, Securities and Exchange Commission, Supreme Court

    Non-Sequiturs: 08.01.14

    * Law student wants some goddamned pizza. [Huffington Post]

    * Elie called for ExamSoft to refund the victims in the so-called #Barghazi incident. Now there’s a petition for that. [Change.org]

    * Litigiousness: now in infographic form! [Thomas Barry Solicitors]

    * In New York, an appellate court upheld a decision requiring a bank to forfeit interest and attorney fees for dragging out a foreclosure settlement conference through 18 court dates spanning 16 months. If you outlaw needlessly dragging out litigation to bully the other side, only outlaws will drag out litigation to bully the other side. [WiseLawNY]

    * The importance of the Sarah Jones appeal. [The Legal Blitz]

    * If you’re looking for a job, the SEC is announcing a new initiative to hire a bunch of lawyers. Including lawyers from the class of 2015! [USAJobs]

    4 Comments / / Aug 1, 2014 at 4:47 PM
  • iStock_000000588706Small

    Biglaw, Golf, Insider Trading, Partner Issues, Securities and Exchange Commission, White-Collar Crime

    Biglaw Partner Charged With Insider Trading On The Golf Course

    Caddyshack meets Wall Street as golfing buddies — including a pair of lawyers — are accused of insider trading.

    8 Comments / / Jul 15, 2014 at 12:54 PM
  • Preet Bharara

  • Modern Jury Box

    2nd Circuit, Antonin Scalia, Benchslaps, Books, Jed Rakoff, Non-Sequiturs, Securities and Exchange Commission, Supreme Court, Technology

    Non-Sequiturs: 06.09.14

    * Jury duty is the only major civic duty that no one ever talks about. Professor Andrew Ferguson would like to change that by encouraging jurors to speak up about their experience. Enjoy learning how the sausage of justice is made! [Huffington Post] * Verizon threatens to sue Netflix for honestly reporting how bad Verizon’s […]

    1 Comment / / Jun 9, 2014 at 5:06 PM
  • curse1

    Airplanes / Aviation, Federal Circuit, Federal Judges, Free Speech, Law Schools, Morning Docket, Police

    Morning Docket: 06.06.14

    * Federal judges frequently fly across the globe on other people’s dime for conferences and symposia, but 2012′s most frequent flyer is a judge who was recently embroiled in an ethics scandal: Randall Rader of the Federal Circuit. [National Law Journal]

    * Even though she claims nothing is “fundamentally broken,” Securities and Exchange Commission chairwoman Mary Jo White proposed “sweeping” new stock market regulations in an attempt to get with the times. [DealBook / New York Times]

    * U. of Maine wants to combine its business and law schools, but professors are concerned about pressing questions like, “What will the diploma say?” rather than, “Do I get to keep my job?” [Portland Press Herald]

    * Law schools are seen as cash cows for their affiliated undergraduate universities, but this law school is hurting so bad for cash due to low enrollment the university is infusing it with millions. [Minnesota Daily]

    * A Pennsylvania man is suing his local police department for First Amendment violations after he was arrested for cursing in front of officers. N.W.A has a song this guy would like. [Pittsburgh Post-Gazette]

    1 Comment / / Jun 6, 2014 at 9:08 AM
  • Johnny Manziel (By: Thomas Campbell-USA TODAY Sports)

    Citigroup, Football, Jed Rakoff, Jonathan Lee Riches, Law Reviews, Legal Ethics, Non-Sequiturs, Patents, Pornography, SCOTUS, Securities and Exchange Commission, Supreme Court, White-Collar Crime

    Non-Sequiturs: 06.04.14

    * Sad day for Jonathan Lee Riches. His lawsuit over Johnny Manziel’s penis has been thrown out of court. [Black Sports Online]

    * Hot on the heels of yesterday’s item about SCOTUS porn parties, Professor Tribe guest blogs about his new book (affiliate link) and coercion, bribery, and influence. [The Volokh Conspiracy / Washington Post]

    * Former Brooklyn DA and aspiring TV star Charles Hynes is staring down larceny accusations. [Gothamist]

    * Texas basically assigns a cop to actively discourage investigate indigent parties seeking assigned counsel. [Socialist Gumshoe]

    * The Supreme Court doesn’t like talking about patents — its opinions on the subject are getting shorter and shorter. [Patently-O]

    * A lawyer is in hot water for allowing underaged drinking at a post prom party. The point was to keep the kids from driving. But no good deed goes unpunished. [Turn to 10]

    * An interesting profile of one of my favorite professors, Ken Feinberg, labeling him “the lawyer who decides what a life is worth.” Yikes. [KDVR]

    * The business strategy of just telling clients what they want to hear deflates. [Dealbreaker]

    * Who says no one reads law reviews? The porn industry does and they really like this student Note. [XBiz]

    * This is why we can’t have nice things. Second Circuit explains that if a revolving door agency of sycophants says it’s OK, it’s OK. Full opinion below…. [New York Times]

    3 Comments / / Jun 4, 2014 at 5:03 PM
  • Congrats, professor!

    Blogging, California, Crime, Dewey & LeBoeuf, Gay Marriage, Law Professors, Media and Journalism, Morning Docket, Politics, SCOTUS, Securities and Exchange Commission, Securities Law, State Judges Are Clowns, Supreme Court, Ted Olson

    Morning Docket: 06.03.14

    * “I don’t think the government should be in the credentialing business.” Thanks to the whims of politicians, SCOTUSblog is having trouble getting media credentials to continue its coverage of the Supreme Court’s cases. [New York Times]

    * How you like me now? In Redeeming the Dream (affiliate link), a new book co-authored with David Boies, Ted Olson says he experienced “some blowback” when he announced he was taking on the Prop 8 gay marriage case. [WSJ Law Blog]

    * Steve Davis and Steve DiCarmine of failed firm fame think it’s “unfair” they have to defend themselves in a criminal case and an SEC case at the same time. They want the SEC case to be halted. Dewey think the judge will say yes? [Law360 (sub. req.)]

    * Back in 2011, Pillsbury decided to ship its back-office operations to Nashville, and now it’s hiring a small contingent of lawyers to work there. FYI, an Ivy League degree may not be necessary. [Washington Post]

    * Only in Florida would a judge allegedly challenge a public defender to a fight out back during a hearing and start throwing punches. We’ll definitely have more on this fiasco later today. [WFTV Eyewitness News]

    * Peter Mutharika, a former law professor who taught at Washington University in St. Louis Law for about 40 years, is now the new president of Malawi, where it’s illegal to fart. Congrats! [St. Louis Post-Dispatch]

    2 Comments / / Jun 3, 2014 at 9:16 AM
  • Dr. Dre

    Biglaw, Deaths, Federal Judges, Law Schools, Morning Docket, Munger Tolles & Olson, Securities and Exchange Commission, Technology, Texas

    Morning Docket: 05.30.14

    * As you may have heard, Apple is buying Beats Electronics for $3 billion. Apple is being represented by Weil, but don’t worry, no one forgot about Dre — he’s got Munger Tolles and Skadden Arps on his side. [Am Law Daily]

    * Haynes and Boone will have a new managing partner as of January 1, 2015, and to make sure he fulfills the good old Texas stereotype of things being bigger, he wants to grow the hell out of the firm’s Houston office. [Dallas Business Journal]

    * Stephanie Avakian, a WilmerHale partner in the New York office, was tapped by the Securities and Exchange Commission to become its deputy director of enforcement. Yay! [DealBook / New York Times]

    * “We can’t turn law schools into graduate school for the study of law,” says a law prof who thinks legal education is straying from being professional education. Aww, write a paper about it. [Harvard Crimson]

    * A Los Angeles couple has been accused in the hit-and-run death of Judge Dean Pregerson’s son. The judge isn’t “looking for blood,” but some jail time would probably help. [L.A. Now / Los Angeles Times]

    0 Comments / / May 30, 2014 at 9:06 AM