Skadden

Open Thread: Class of 2010 Associate Bonus Bitch-Fest

By

Personally, I think it’s time for Biglaw associates in the class of 2010 to drink a tall glass of shut the hell up. They got jobs at a time when many of their classmates did not. They received $160K salaries just after there was a significant effort by some firms to push starting salaries down to $145K. Most of them got to start sometime in 2010… in the same year many of the people in the class of 2009 got to start. And, as far as we know, none of them have been Lathamed and had their careers aborted before they even started.

Are things as easy for the class of 2010 as they were for the class of 2006? No. But sometimes I think that the current n00bs forget that they could have been cast back down with the sodomites in the class of 2009.

But, that’s just me. And I’m old and irritable and have lost sight of the youthful exuberance that makes a person sing “I want it all, I want it all, I want it all, and I want it now.” It turns out that first-year associates don’t want to wait until they mature into a class worthy of a full bonus at the end of 2011. They want whatever bonus money they can get out of 2010, and they are angry at the firms that are not paying up.

The Cravath-level spring bonus for the class of 2010 is only $2,500 at the firms that are paying spring bonuses to first years. And so we have two disgruntled groups: people who work at firms not paying a spring bonus to first years, and people who feel the $2.5K is “illusory” because it’s prorated based on when the associate started at the firm.

Let the bitching begin…

double red triangle arrows Continue reading “Open Thread: Class of 2010 Associate Bonus Bitch-Fest”

Sign up for the Above the Law newsletter

Subscribe to our free daily email and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more.

How Much Was Joe Flom Worth? Some Clues From His Will

By

Joseph Flom

Back in February, Joseph Flom — name partner at Skadden, Arps, Slate, Meagher & Flom, and one of the nation’s most successful and prominent lawyers — passed away, at the age of 87. During his life, Flom earned well-deserved renown as an attorney, philanthropist, and mentor. He was also a wonderful father, grandfather, and great-grandfather, many times over.

Joe Flom, R.I.P. — and R.I.C.H. As you might expect from the name partner of one of the world’s largest and most lucrative law firms, Flom left behind a vast fortune.

It might seem tacky to talk about this. But that hasn’t stopped us before given Flom’s commitment to charity, it’s actually heartwarming to see all of the worthy causes that will be receiving much-needed funds from the Flom estate.

So how much are we talking about? And who are beneficiaries of his will?

double red triangle arrows Continue reading “How Much Was Joe Flom Worth? Some Clues From His Will”

Lawyer of the Month: We Like It When People Just Walk Away

By

So this month, we went out of our way to nominate potential Lawyers of the Month who were still breathing. The desire of our readers to bestow this honor posthumously is laudable, but we don’t want to this feature to end up like the “dead people” reel at the Oscars, where folks bet on which deceased celebrity will get the most applause.

Being forced to choose only among living candidates, Above the Law readers perhaps started another trend we’re sure to see in future Lawyer of the Month contests: they voted for a guy who is no longer a practicing attorney…

double red triangle arrows Continue reading “Lawyer of the Month: We Like It When People Just Walk Away”

Matt Kluger, Ex-Biglaw Associate Charged With Insider Trading, Is A Gay Dad — and Once Sued Fried Frank Over It

By

Matthew Kluger aka Big Gay Matt

“Aww, Matt, why do you have to go around giving us a bad name?”

Ever since Matthew Kluger was charged in a massive insider trading case, involving an alleged conspiracy that spanned 17 years and generated more than $32 million in profit, the foregoing question could be asked by many groups: Cornell grads, NYU law grads, Cravath lawyers, Skadden lawyers, and Wilson Sonsini lawyers.

Tonight we can add more groups to the list: Fried Frank lawyers, and gays — specifically, gay dads.

As reported by the Wall Street Journal earlier tonight, Matt Kluger worked at yet another major law firm: Fried Frank. After he was fired by the firm in 2002, he sued, claiming that partners there discriminated against him because he’s gay — and a father of three, with parenting responsibilities.

Just when you thought this case couldn’t get any weirder, it just did. Matthew Kluger is gay. And a dad. With three kids. Thanks for sending America such a positive image of LGBT parents, Matt!

Let’s take a closer look at Kluger’s suit against Fried Frank — and additional details about Matt Kluger’s complicated personal life, gleaned from ATL tipsters….

double red triangle arrows Continue reading “Matt Kluger, Ex-Biglaw Associate Charged With Insider Trading, Is A Gay Dad — and Once Sued Fried Frank Over It”

Non-Sequiturs: 04.07.11

By

Judge Linda Van De Water

* Musical chairs: Orrick partners to Dechert and Gibson Dunn; Weil Gotshal partners to McDermott. [Am Law Daily; McDermott Will & Emery]

* Some of the questions in this survey, designed to assess how law students use online media when evaluating law firms, are amusing. If you’re a law student, please take the survey — you can win a gift card — and talk about how important Above the Law is to your assessment of firms. [Survey Gizmo]

* Judge of the Day candidate #1: Linda Van De Water, for allegedly “kicking and jumping on her ex-boyfriend’s car after confronting him outside the home of another woman.” [Milwaukee Journal Sentinel]

David Zornow

* Judge of the Day candidate #2: Tom Carney, for allegedly wielding a gun like a gavel, in an incident with another motorist. And don’t forget that snazzy pink necktie. [Erie Times-News]

* Peter Lattman looks at David Zornow, the global head of litigation at Skadden, and Zornow’s obsession with Bob Dylan — reflected in a mock indictment of “The Judges,” drawn up by “special assistant U.S. attorney Bob Dylan.” [DealBook / New York Times]

* There’s a new post up on the blog of Sophia Chua-Rubenfeld, daughter of Yale law professors Amy Chua and Jed Rubenfeld. Critics of Amy Chua have speculated about whether her “Tiger Mother” ways have damaged her daughters psychologically. But based on her blogging, young Sophia seems grounded, charming, and funny. [new tiger in town]

Ex-Associate at Three Top Firms Charged With Massive Insider Trading

By

Matthew Kluger

There’s no contest today for Lawyer of the Day honors. The clear winner is Matthew Kluger, a former associate at three leading law firms, who has been charged in a massive insider trading case. Kluger stands accused of reaping more than $32 million in profit over the course of a 17-year conspiracy, which also allegedly involved a trader, Garrett Bauer. (Kluger and Bauer might not be as big as Raj Rajaratnam, who’s pretty hefty, but their supposed scheme is nothing to scoff at.)

The charges were filed by Paul Fishman, U.S. Attorney for New Jersey (disclosure: my former office). Fishman claims that Matt Kluger passed along insider information that eventually made its way, via an unnamed co-conspirator, to Garrett Bauer, who traded on it. According to the complaint, Kluger and Bauer invested more than $109 million in the scheme, which yielded profits of more than $32.2 million.

Where did Kluger allegedly obtain the inside information? From the three Biglaw firms where he once worked on M&A deals….

double red triangle arrows Continue reading “Ex-Associate at Three Top Firms Charged With Massive Insider Trading”

Lawyer of the Month: March Reader Poll (Still Breathing Edition)

By

Our first two lawyer of the month polls in 2011 were dominated by death and despair. Several high-profile, wonderful attorneys died in the month of March — e.g., Warren Christopher, Bill Stuntz — but we’re not including them in this month’s contest. This month, the lawyer of the month reader poll is 100% alive.

And we’ve got some very strong nominees this month. We’ve got standard bearers for salaciousness, uplifting entrants, and deranged douchebags.

Should be fun. Let’s check out the nominees for March…

double red triangle arrows Continue reading “Lawyer of the Month: March Reader Poll (Still Breathing Edition)”

Non-Sequiturs: 04.04.11

By

* Khalid Sheikh Mohammed will be tried by a military commission at Guantanamo, but John Yoo is still not satisfied. He wants to capture people and hold them indefinitely without trial proof that the Obama Administration can conduct terror trials successfully. Obviously, the elegant solution is to make KSM live in Yoo’s basement until one of them begs for an impartial arbiter. [Ricochet]

* If you ever read the warnings on your prescriptions, I think this is what you’ll see (by Jeremy Blachman). [McSweeney]

* There is an epidemic of people slamming automobiles into legal structures. [ABA Journal]

* Stephen Colbert interviews a former Cravath attorney, Roy Den Hollander. I wish Colbert would do a “better know a law firm” series. [The Careerist]

* From Skadden to Dickstein Shapiro to stay-at-home mom. [But I Do Have A Law Degree...]

* This April Fool’s Blawg Review is no joke. [Fools in the Forest via Blawg Review]

* How would you describe a typical day in the life of an associate? (Hint: it’s a trick question.) [YouTube via Schola2Juris]

Musical Chairs: Leading Litigatrix Leaves Akin for Skadden

By

Michele Roberts

Although I now live in New York, I lived in D.C. for several years before moving back to NYC. And while I was in Washington, few trial lawyers were more renowned around town than Michele Roberts. A legendary litigatrix celebrated for her skill in the courtroom, Roberts was at Akin Gump — home to other top talent, such as John Dowd, now defending Raj Rajaratnam — from 2004 until recently.

Very recently. Yesterday the news broke that Roberts was leaving Akin Gump and joining global mega-firm Skadden. Skadden trumpeted the news in a press release, noting that Roberts “is widely recognized as one of the nation’s premier trial lawyers,” with over 100 jury trials under her belt.

Roberts has a somewhat unusual background for a Biglaw litigation partner. Let’s learn more about her….

double red triangle arrows Continue reading “Musical Chairs: Leading Litigatrix Leaves Akin for Skadden”

The Skadden Associate Who Picked Up and Moved to Nepal: An Update

By

A view of Kathmandu (via The Kathmanduo).

On Wednesday we wrote about the great departure email sent out by Brian Emeott, a former corporate associate at Skadden in Chicago. Emeott, a 2004 graduate of Harvard College and 2008 graduate of Harvard Law School, picked up and moved to Kathmandu, Nepal.

Brian’s wife, Claudine Emeott, resigned from her own job in December and moved to Kathmandu in January. She’s in Nepal to advance a worthy cause: as a Kiva Fellow, Claudine is working with a local microfinance institution for three months.

In our original post, we applauded the Emeotts for their sense of adventure. You can follow them at their (excellent) blog, The Kathmanduo, as they “work, write, and photograph [their] way through beloved Nepal.”

Some of our commenters, however, were more skeptical. They wondered (and so did we): How are the Emeotts making this work, in financial terms? Are they trust fund babies?

double red triangle arrows Continue reading “The Skadden Associate Who Picked Up and Moved to Nepal: An Update”

February Lawyer of the Month: We’re Starting To See A Pattern Here

By

Whoops. Even though the polls closed about a week ago, we forgot to announce our Lawyer of the Month for February.

So let’s get to it. Who is Above the Law’s latest honoree?

double red triangle arrows Continue reading “February Lawyer of the Month: We’re Starting To See A Pattern Here”

Another Great Departure Memo: Skadden Associate Trades Chicago for… Nepal?

By

Chicago looks nice -- why is everyone fleeing?

Young lawyers of Chicago: What the heck is going on with you people? You seem to be losing it. Has the brutal Chicago winter driven you crazy? Do we need to put The People’s Therapist on the next plane to O’Hare?

Let’s look at the evidence. You’re quitting prestigious and lucrative law firm jobs to hike across the country with dogs. You’re getting involved in embarassing litigation with your ex-fiances (after allegedly hooking up with shady Vegas ladies named “Danielle”).

And you’re leaving Chicago — a city with excellent shopping and superb restaurants (I was at Alinea a few weeks ago, and it was amazing) — to go “find yourselves.” In the Himalayas.

Check out this latest departure memo, from an associate who just left Skadden….

double red triangle arrows Continue reading “Another Great Departure Memo: Skadden Associate Trades Chicago for… Nepal?”