It’s the first week of August, and it seems that Biglaw firms are still handing out offers to their summer associates like candy. Don’t worry if you haven’t received one yet, because some firms are still daring enough to wait until their summer associates are back in school before they welcome their new crop of future associates.
Sure, summer associate classes are smaller than they were before the Great Lathaming and Dewey’s Demise, but now that things are starting to look up, offer rates seem stronger than ever.
Following up on Tuesday’s story, here are more firms that have given offers to all of their summers:
Last month we wrote about a Biglaw firm that’s in big trouble. The firm in question: Dow Lohnes, a former Am Law 200 firm that has been hemorrhaging lawyers and clients (and lost two more partners last week, to Venable). In our story about Dow Lohnes, we noted that “[i]t seems possible that the firm could merge out of existence — if it’s lucky enough to find a partner.”
Fortunately for the remaining lawyers and staff at Dow Lohnes, the sinking ship has located some lifeboats. A larger and stronger firm, a member of the Am Law 50 and Vault 100, will be picking up many (but not all) of Dow Lohnes’s lawyers.
Who’s the white knight riding to the rescue of Dow Lohnes?
* Billable hours in Biglaw are down 1.5 percent, and 15 percent of U.S. firms are planning to reduce their partnership ranks in early 2013. Thanks to Wells Fargo for bringing us the news of all this holiday cheer! [Thomson Reuters News & Insight]
* Hostess may be winding down its business and liquidating its assets, but Biglaw will always be there to clean up the crumbs. Jones Day, Venable, and Stinson Morrison Hecker obviously think money tastes better than Twinkies. [Am Law Daily]
* How’s that “don’t be evil” thing working out for you? Google’s $22.5M proposed privacy settlement with the FTC over tracking cookies planted on Safari browsers was accepted by a federal judge. [Bloomberg]
* Perhaps the third time will be the charm: ex-Mayer Brown partner Joseph Collins was convicted, again, for helping Refco steal more than $2B from investors by concealing the company’s fraud. [New York Law Journal]
* H. Warren Knight, founder of alternative dispute resolution company JAMS, RIP. [National Law Journal]
As you will see, it’s not all about the money in life: it’s about health, love, respect, happiness and then at some point about the money, which is the only thing that will survive all of us.
– Emel Dilek, the pulchritudinous plaintiff who is suing her former employer for breach of contract. Dilek was the mistress of the company’s former chief operating officer, who hired her; after he passed away, the company fired her.
(A closer look at this sexy plaintiff and her salacious suit, including some rather amusing deposition excerpts, after the jump.)
In August, New York Law School (NYLS) was hit with a class action lawsuit over the school’s allegedly deceptive post-graduate employment data. The case was filed by plaintiffs’ lawyers Jesse Strauss and David Anziska. In October, NYLS — represented by an alumnus who managed to ascend to the ranks of Biglaw partnership — filed a motion to dismiss that claim. Yesterday, the lawyers ventured down to the New York Supreme Court to argue the merits of the case.
A day later, everyone wants to know what happened during the oral arguments. Were any rulings made in this closely watched and hotly debated case?
In August, New York Law School was hit with a class action lawsuit over the school’s allegedly deceptive post-graduate employment data. The suit accused NYLS of fraud, negligent misrepresentation, and deceptive business practices. Now, two months later, NYLS is packing some Biglaw heat and moving to dismiss the complaint.
In a case of David v. Goliath, Jesse Strauss and David Anziska, the small-firm lawyers who brought the suit on behalf of the plaintiffs, are now up against the lawyers at Venable, whose motion to dismiss on behalf of NYLS was accompanied by a cutting 25-page memorandum of law.
But why is the NYLS brief so harsh? Because the school argues that the Gomez-Jimenez suit isn’t about the plaintiffs at all, but instead is part of a “crusade” against the American Bar Association….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
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: