Over the years, we’ve covered many Biglaw employees who have been accused or convicted of insider trading. This should come as no surprise, given the confidential and market-moving information that regularly flows through the hallways and computers of leading law firms.
The latest accusations of insider trading involve a lawyer who worked at a white-shoe law firm. This individual stands accused of taking confidential information he was privy to by virtue of his work and passing it along through a middleman to a broker, who then allegedly traded on it. According to the Securities and Exchange Commission, the scheme generated over $5.6 million in illegal profits, with over $168,000 going to the Biglaw tipster.
At which elite law firm did this defendant work, and from which school did he receive his law degree?
O frabjous day! Callooh! Callay! On Friday, California bar exam results came out (and 55.8% of applicants passed, with a pass rate of 68% for first-time takers, meaning that just one stat is up (barely) from last year’s results). And today, we’ve finally got a list of the passage rates for the July 2013 administration of the New York bar exam by law school.
In 2012, more than half of the state’s law schools saw their pass rates take a tumble. In 2013, more than half of the state’s law schools were able to improve their pass rates, and in some cases, by epic proportions. The state’s overall pass rate for first-time takers jumped by two percentage points.
So which law schools’ pass rates climbed, and by how much? And which school sank like a stone?
I feel like you could do a whole reality series on moot court participants. You could call it “So I Didn’t Make Law Review,” then just film the moot court people as they try to justify moot court participation as a valuable thing that employers really care about.
Come on, we all know people who take “pretend court” very seriously, secretly thinking that their experience is actually even more valuable than law review… because pretending to do appellate argument is sooooo very much like what a first-year associate does every day.
Today, we have a Touro Moot Court student taking the “very seriously” to the next level. This student has decided to criticize other moot court students for not taking moot court seriously enough. I’m not making that up, we’ve got a person who couldn’t make law review at Touro criticizing other Touro students for not making the most of their Touro experience…
What can you get a prospective law student who has everything? How about a free application to Touro Law.
I’m assuming of course, that you’re getting gifts for people you hate. If you like this prospective law student, you should get them the gift of a slap upside their head whenever they talk about taking the LSAT.
Anyway, back to Touro. The Dean of the Law School, Patricia Salkin, sent an interesting message to Touro alums this holiday season. She asked them to “share their stories” with students who are still on the fence about going to law school.
Yes, Touro grads, by all means, share your cautionary stories with people who can still pull themselves back from the law school precipice….
Candidate Mindy Meyer — slogan “I’m Senator and I Know It,” in diamond bedazzling — is running for New York State Senate, on both the Republican and Conservative Party lines. Meyer is a former judicial intern for the Honorable Judge Rivera in the Kings County Supreme Court and currently attends the Touro College Jacob D. Fuchsberg Law Center in Central Islip, New York. If elected, she pledges to transfer to Albany to continue her studies. Fair enough. It’s not like the New York legislature does enough work to interfere with a full-time law school credit load….
We’re a little bit late with April’s lawyer of the month reader poll. First of all, we’ve been doing a lot of reader voting so far in this month. (There are still a few hours for you to vote in our Law Revue Video Contest.)
The other reason why we’re a bit delinquent this month is because we think we know who is going to win. It’s not every day that a recent law grad finds himself trying a murder case — and getting reprimanded by the judge for “lack[ing] knowledge of proper trial procedure.”
Such is life during the Obama “recovery.” Check out this month’s nominees below…
Look, Touro Law students and alumni, please don’t get mad at me. I’m just the messenger.
The Washington Post is reporting that a D.C. Superior Court judge, William Jackson, declared a mistrial in a murder case on Friday so that the defendant could fire his lawyer. The attorney, Joseph Rakofsky, a 2009 graduate of Touro Law School, showed “numerous signs” that he “lacked knowledge of proper trial procedure,” according to the judge.
If you are wondering why people sometimes make fun of Touro and other very low-ranked law schools, it’s because this kind of stuff is straight-up embarrassing. Good schools try to not let people like this into to law school, and they certainly don’t let them depart so poorly trained.
But most damning of all is that Joseph Rakofsky doesn’t even seem to understand how totally embarrassing this result is for him. The kid is bragging about the result, on Facebook…
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: