Vereins
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Morning Docket
Morning Docket: 03.19.19
* Michael Flynn and his business partner are sparring over documents the partner wants to defend himself in his criminal case. [Politico]
* “It’s the corporate equivalent of the death penalty.” Maybe let’s not trivialize the death penalty by comparing it to a $1 million fine. [Law360]
* Quinn partner eyed for Ambassador to Mexico role. Maybe he can get them to pay for the wall. [Reuters]
* Some law firms are getting verein, verein rich. Ugh, that’s just terrible. [American Lawyer]
* When law firms attack: Manatt sues Brown Rudnick. [National Law Journal]
* Another opportunity for journalists to spellcheck “emoluments.” [Courthouse News Service]
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Morning Docket
Morning Docket: 03.23.17
* “You have been very much able to avoid any specificity like no one I have seen before. And maybe that’s a virtue, I don’t know. But for us on this side, knowing where you stand on major questions of the day is really important to a vote.” Despite hours of questioning, Senate Democrats were unable to get Judge Neil Gorsuch to commit to any response beyond researched generalities. At this point, his confirmation seems inevitable. [New York Times]
* Sure, Biglaw associates want their firms to be more progressive when it comes to flexible working arrangements, but that doesn’t mean they feel comfortable taking advantage of the programs being offered. Per a survey conducted by the Diversity and Flexibility Alliance, only 8.8 percent of lawyers at firms with reduced hours policies actually work reduced hours. We’ll have more on this later today. [Big Law Business]
* Is this the end of the Swiss verein? While the legal structure has been adopted in almost every major cross-border law firm merger in recent memory, both of the last two transatlantic Biglaw tie-ups opted to use an entity called the company limited by guarantee (CLG). Apparently this legal structure is being favored for new law firm combinations because there are still questions about vereins’ proper use. [Am Law Daily]
* Dean Alex Acosta of Florida International University School of Law, a man who is better known these days as Trump’s nominee to be the Secretary of Labor, not only says the fiduciary rule requiring retirement investment advisers to put their clients’ interest first goes too far, but indicated that he may decline to defend a rule doubling the salary ceiling under which employees would be eligible for overtime pay. Ouch. [Reuters]
* Now that Harvard Law has decided to accept applicants’ GRE scores in lieu of their LSAT scores for admissions purposes, other law schools have decided to try the alternative exam on for size. Suffolk Law, for example, launched a study last week and offered students $100 to take the GRE. Suffolk’s dean says that “the mad dash for the GRE is not being driven by declines in applications.” Bless your heart. [Boston Globe]
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Biglaw, Job Searches
Reinventing The Law Business: Where Is The Legal Profession Heading? (Part 2)
According to managing partner Bruce Stachenfeld, if a verein is brilliantly managed, it will succeed -- and if not, it will fail, with probably a spectacular flameout. -
Biglaw, Law Firm Mergers
Law Firm Giant Adds Thousands Of Lawyers, Eyes Even More
Massive law firm says it plans to keep on growing. -
Biglaw, Law Firm Mergers, Partner Issues, Partner Profits, Rankings
Are The Am Law 100 Rankings Unfair? Let’s Whine About Vereins
Should vereins be counted as single entities for purposes of the Am Law 100 rankings, and did vereins get unfairly slammed in the latest Am Law 100? -
Biglaw, In-House Counsel, Partner Issues, Partner Profits, Shameless Plugs
Proof That 'Bigg & Mediocre' Has No Future
Does the future belong to super-large, global law firms? Not necessarily, according to in-house columnist Mark Herrmann. -
Basketball, Biglaw, Confirmations, Federal Judges, Law Schools, Morning Docket, Sexual Harassment, Sports
Morning Docket: 05.02.14
* The Senate confirmed nine judges this week, the highest one-week total since the current session of Congress began. They even managed to confirm a “controversial” nominee. Congrats! [Legal Times]
* If you need a reason for your merger-product firm’s poor financial performance, don’t use the verein structure as a scapegoat. Maybe your firms weren’t profitable to begin. Burnnnnn. [The Economist]
* Skadden lawyers await the day they’re called upon to provide the NBA’s defense against a potential suit filed by Don Sterling. They’ll be ready, because Skadden’s the best brand in the world, yay! [Am Law Daily]
* Mayer Brown is pulling out of the “comfort women” case, a decision one of its clients says is “totally crazy.” We suppose the firm was getting tired of being dragged through the mud. [Los Angeles Daily News]
* A suspect is being held by police in the fatal hit-and-run of Judge Dean Pregerson’s son. He’s been charged with vehicular manslaughter, and is expected to be arraigned on Monday. [Los Angeles Times]
* Fifty-five schools are being investigated for alleged violations of federal law in the mishandling of sexual assault and harassment cases. One professional school is on the list. Sup Harvard Law? [Huffington Post]
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How to best leverage generative AI as an early adopter with ethical use. -
Biglaw, Money, Partner Issues, Partner Profits, Rankings
The 2014 Am Law 100: 'The Super Rich Get Richer'
How did your firm fare in this year’s Am Law 100 rankings? -
Biglaw, Law Firm Mergers, Partner Issues, Sonnenschein
Another Biglaw Deal Bites The Dust: McKenna No Longer Longs For Dentons
What led the McKenna Long partnership to reject the overtures of Dentons? -
Biglaw, Law Firm Mergers, Partner Issues, Sonnenschein
Supersizing Biglaw: Welcome to McDentons
Some thoughts from Anonymous Partner on the Dentons/McKenna Long talks and the rise of the global mega-firm. -
Biglaw, Law Firm Mergers, Legal Ethics, Partner Issues, Partner Profits
Be Afraid, Be Verein Afraid
Are some law firms that use the verein structure running afoul of legal ethics rules against fee splitting? -
Biglaw, Law Firm Mergers, Partner Issues, Sonnenschein
Law Firm Merger Mania: Dentons And McKenna Long Are Talking
How big would the combined entity be? Very big....