This afternoon, here in Manhattan, a jury found former SAC Capital portfolio manager Mathew Martoma guilty of insider trading. The verdict wasn’t a shock, given the strong evidence against Martoma and the fact that another former SAC trader, Michael Steinberg, got convicted in December on weaker evidence.
The trial involved a number of boldface names of the legal profession. The office of U.S. Attorney Preet Bharara (S.D.N.Y.), one of our 2013 Lawyer of the Year nominees, was represented by assistant U.S. attorney Arlo Devlin-Brown, one of the office’s most prominent prosecutors (and a star of the college debate circuit, for those of you who used to do debate). Martoma was defended by a team from Goodwin Procter that included Richard Strassberg, an S.D.N.Y. alumnus, and Roberto Braceras, another former federal prosecutor — and the son-in-law of Judge José Cabranes. The prosecution’s lead witness, Dr. Sidney Gilman, was represented by Bracewell & Giuliani’s Marc L. Mukasey — son of former S.D.N.Y. judge and U.S. Attorney General Michael Mukasey.
And some of our readers might know Mathew Martoma. He was a student at Harvard Law School back in the 90s, before he got expelled for fabricating his transcript while applying for clerkships.
Here are some notable numbers relating to the Mathew Martoma mess:
Lawyers may not lead the most luxurious of lifestyles, but if you’re single and looking, it’s still a profession that will make prospective dates ooh and aah. Most people in the average dating pool think being a lawyer is a road to riches, thus making these eligible bachelors even more appealing.
One non-profit organization decided to take advantage of this allure, and is holding a man auction the week before Valentine’s Day. The event will feature about 50 professional men, and 10 of them are lawyers — very handsome lawyers. The bidding opens at $75, and we bet that some of these lucky gents will be sold for well beyond their hourly billing fees.
So who is the most prestigious piece of lawyerly man meat?
I almost got fired by Chris Christie. Almost, but not quite.
From June 2004 until November 2005, while working for then-U.S. Attorney Christie in my home state of New Jersey, I maintained a deliciously dishy blog about federal judges called Underneath Their Robes, offering “news, gossip, and colorful commentary about the federal judiciary.” Because I realized that appearing before judges by day and gossiping about them by night could be problematic, I wrote under a pseudonym, pretending to be a woman and calling myself Article III Groupie aka A3G.
In November 2005 — for reasons that I won’t go into here, but that I’m happy to explain at speaking engagements — I revealed myself as A3G in a New Yorker interview with Jeffrey Toobin. The news that one of his prosecutors was writing an irreverent blog about federal judges, including some judges his office appeared before, caused much aggravation for Chris Christie.
The New Yorker piece appeared on a Monday. A few days later, on Friday — after the scandal had made the pages of the New York Times, the Washington Post, and even the Drudge Report — I got called up to the big man’s office on the seventh floor of 970 Broad Street….
It’s Harvard Law School’s world, and the rest of us are just living in it.
1999: ARLO DEVLIN-BROWN writes that you never know where you’ll run into a classmate. He is prosecuting MATHEW MARTOMA (née Ajai Mathew Thomas) on insider trading charges in Lower Manhattan. Devlin-Brown has asked U.S. District Judge Paul Gardephe (unfortunately Penn ’79, Columbia ’82) for permission to talk about Matt’s expulsion from Harvard for doctoring his transcript, so get ready for fireworks! The trial is expected to last several weeks, so for anyone who missed WILLIAM PULLMAN and Lisa Frank’s (Yale ’03, NYU Law ’08, NYU Stern ’08) Christmas Eve nuptials, it would be a great opportunity for a mini-reunion!
That is Bess Levin’s imagined entry for the next edition of Harvard Law School alumni news, offered over at our sister site Dealbreaker. It’s based on a New York Times piece marveling at the many HLS folks involved in this major insider trading trial (which also include Martoma’s lawyer, Richard Strassberg of Goodwin Procter, and Lorin Reisner, chief of the criminal division of the U.S. Attorney’s Office).
A takeaway from the Martoma matter: HLS students are the best! At forgery and fraud, that is.
Years before he allegedly cheated on Wall Street, Mathew Martoma, then known as “Ajai Mathew Thomas,” cheated at Harvard Law School by fabricating his transcript when applying for clerkships. It was a sophisticated effort that fooled multiple jurists. Which D.C. Circuit judges came thisclose to hiring him as a law clerk?
Unless you’re living under a rock or stuck in traffic on the George Washington Bridge, you know that N.J. Governor Chris Christie spent yesterday digging himself out of the Fort Lee traffic scandal in the most Jersey of manner — by placing a proverbial bullet in the back of the neck of one of his most trusted allies Tony Soprano-style. He even invited the media over to the Bada-Bing for a couple of hours after he did it.
Deputy Chief of Staff Bridget Kelly took the rap for closing lanes on the GWB and creating a traffic snarl for Fort Lee residents after a smoking gun email emerged where the staffer seemingly ordered David Wildstein, himself a once highly-paid Christie staffer who resigned last month, to stop up the bridge to make life miserable for Fort Lee. The mayor of the town — a Democrat — had failed to fall in line and endorse the Republican Christie in his re-election campaign, and Kelly’s email outlined the chosen means of retaliation. It seems dumb, but people may have died over this issue.
Liberal columnists are calling Christie basically an overfed Pol Pot and conservatives are comparing this — because they cherish beating their dead one-trick pony — to Benghazi.
But whether Christie was directly involved in this scandal or not — and so far the digital paper trail seems to begin with his mild-mannered aide showing uncharacteristic initiative and ends with a high school crony whom Christie put in charge of the bridge — this scandal falls somewhere between unsurprising and utterly inevitable.
Christie is a former prosecutor, serving as a U.S. Attorney from 2002 until 2008. The modern prosecutor is armed with the luxury to exact petty, brutal revenge on any and all who cross him or her, and this is the mentality that Christie brought into the Governor’s Mansion. Indeed, he made this mentality his political calling card.
Remember the 80s? Big hair, Dynasty, Huey Lewis was popular for some reason. Well, Judge Jed Rakoff remembers the 80s, and he also remembers the way the federal government used to actually investigate and prosecute people who committed massive financial crimes — Mike Milken, Ivan Boesky, Charles Keating, a bevy of other savings and loans kingpins. Good times.
And Judge Rakoff wants to know what happened to prosecuting financial crimes, specifically the sort of fraud that crippled the economy. So he took to the pages of the New York Review of Books to ponder all the financial prosecutions that could have been. And he has some theories about what happened and how prosecutors could do a better job in the future.
It’s a fascinating look at a bunch of ideas that the government is going to totally ignore…
Leave aside that the article hits the tired drum that more people should have gone to prison after the financial crisis – because, of course, the only thing that causes an economic downturn is crime.
Instead, check out how SIGTARP shows us that they’re doing good work as a law enforcement agency.
[Special Inspector General Christy] Romero noted that the average prison sentence imposed by courts for crimes investigated by SIGTARP is five years and nine months — nearly twice the national average for white-collar fraud.
Right – SIGTARP is a serious player because it’s getting serious prison time…
Ed. note:Matt Kaiser founded The Kaiser Law Firm PLLC, a white-collar boutique in Washington, D.C., and will now be writing a weekly column for us about white-collar practice and his adventures in building a law firm. Matt previously covered the Supreme Court for us. This is the second installment of his new column.
Suppose you’re a fourth-year associate in a litigation department in a large firm on one of the coasts. You’ve worked on a lot of different matters — you’ve done document review for commercial litigation. You put together a privilege log for some patent litigation (who says patent litigation is specialized?). You waded through documents in an FCPA case. You even got to do some deposition digesting for a reinsurance lawsuit!
You really liked your work on the FCPA document review. You noticed that the documents related to a foreign country, which sounded exotic. You could sit in your office, staring at the brick wall on the other side of the alley, and imagine that you were an extra in Casablanca, with a view toward how the world really works overseas.
Perhaps most importantly, you loved how your friends from law school reacted when you told them you were working on an FCPA matter. Cocktail parties became more interesting when people thought of you as a white-collar criminal defense lawyer, rather than the reinsurance guy. You resolved that you’d do more white-collar work and perhaps make this noble practice area the focus of your career.
* Should Justice Lori Douglas, she of the infamous porn pictures, step down from the bench? Well, she has 324,100 reasons to stay. [Toronto Star]
* And what about Justice Breyer and Justice Ginsburg — should they leave while the Democrats still control the White House and the Senate? [Washington Post via How Appealing]
* A legal challenge to gun control stumbles — on standing grounds. [WSJ Law Blog (sub. req.)]
* Moral of the story: if you want to threaten opposing counsel, don’t do it over voicemail — unless you want to get censured. [ABA Journal]
U.S. Attorney Preet Bharara
* Dewey want more details about the lucrative contracts given to Stephen DiCarmine and Joel Sanders? Most definitely! [Am Law Daily (sub. req.)]
* An interesting peek inside the office of U.S. Attorney Preet Bharara. The S.D.N.Y.’s boss is a big fan of the Boss. [New York Times]
* Now that the merger between US Airways and American Airlines has been approved, US Airways CEO Doug Parker offers a behind-the-scenes look at his company’s response to the government’s antitrust lawsuit. [Wall Street Journal (sub. req.)]
Today’s notable move involves Andy DeVooght, coming out of the U.S. Attorney’s in Chicago. DeVooght has an enviable résumé. Before joining the U.S. Attorney’s Office, he worked as a partner at Winston & Strawn and clerked on the U.S. Supreme Court, for the late Chief Justice Rehnquist.
Instead of returning to Biglaw, a common path for someone in DeVooght’s shoes, he’s joining a buzz-generating boutique. Which one?
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 seven years. You can reach them by email: firstname.lastname@example.org.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
Non-attorneys would think the stress comes from preparing for a big trial, deposing a hostile witness, or crafting the perfect contract for a picky client.
But that’s nothing compared to the constant, nagging, real-life kind, the kind you get from the day-to-day grind of being a law-abiding attorney.
Connecticut plaintiffs-side boutique litigation firm (12 lawyers) seeks full-time associate with 2-4 years litigation experience, top tier undergraduate and law school education. Journal or clerkship experience a plus; highest ethical standards and strong work ethic required. Familiarity with Connecticut state court legal practice is preferred, but not required.
The firm handles sophisticated, high-end cases for plaintiffs, including individuals and businesses with significant claims in a wide array of matters. Our cases often have important public policy implications, and are litigated in state and federal courts throughout Connecticut. Representative areas of practice include medical malpractice, catastrophic personal injury, business torts, deceptive trade practices and other complex commercial litigation, and products liability.
Additional information can be located on our website, at www.sgtlaw.com.