Wall Street

  • Simpson Thacher Bartlett STB photo by David Lat

    Biglaw, Screw-Ups

    Simpson Thacher Sued In Two Class Actions

    Biglaw firm allegedly cost lenders big bucks.

    32 Comments / / Jul 31, 2015 at 1:26 PM
  • ArrowGoingDown

    Morning Docket

    Morning Docket: 07.28.15

    * Despite the fact that the 25/75 percentile LSAT range for many law schools has dropped precipitously, some schools still care about LSAT scores — because they care about you (and their U.S. News rank). [Law Admissions Lowdown / U.S. News]

    * Maryland Law and Baltimore Law are going to be teaming up to launch a solo practice incubator for their recent graduates, and BC, BU, and Northeastern will be doing the same thing in 2016. Full-time, long-term jobs where bar passage is required for all! [National Law Journal]

    * The Dacheng Dentons merger has the potential to completely change the legal profession as we know it, or fall flat on its face and be remembered as a good idea that went wrong. It’s been six months, and we’re all still waiting to see what happens. [Financial Times]

    * The criminal case against ex-Goldman Sachs programmer Sergey Aleynikov is like the Energizer bunny in that it keeps going, and going, and going, and going. Manhattan DA Cy Vance is appealing Aleynikov’s overturned conviction. [DealBook / New York Times]

    * “The unfortunate scenario alleged in the complaint cries out for a legislative fix, not a judicial nix.” As expected, terminally ill civil rights attorney Christy McDonnell’s right-to-die lawsuit was dismissed by a California judge yesterday. How depressing. [AP]

    8 Comments / / Jul 28, 2015 at 8:50 AM
  • H. Rodgin Cohen, speaking at Bloomberg BNA's  inaugural Big Law Business Summit.

    Biglaw, Conferences / Symposia, Technology

    5 Insights On Representing The Banking Industry, From Rodge Cohen Of Sullivan & Cromwell

    A leading lawyer to the financial services industry, H. Rodgin Cohen of Sullivan & Cromwell, shares some of his wisdom.

    25 Comments / / Jul 20, 2015 at 3:02 PM
  • grade inflation

    Morning Docket

    Morning Docket: 06.03.15

    * C. Michael Kamps, the man who filed a pro se suit against Baylor Law with claims that he was denied admission because his GPA predated grade inflation, recently lost his bid to get SCOTUS to review his case. It’s too bad — he seems like a total gunner. [ABA Journal]

    * If you thought that Ruth Bader Ginsburg was the biggest celebutante justice on the Supreme Court, then you’d be dead wrong. According to Professor Rick Hasen’s research, it’s Sonia Sotomayor who’s stealing the spotlight at the high court. [WSJ Law Blog]

    * Senator Elizabeth Warren, the queen of taking Wall Street to task, now has her sights set on SEC Chairwoman Mary Jo White. In a 13-page letter, the politician called the former Debevoise partner’s tenure “extremely disappointing.” [DealBook / New York Times]

    * Ex-House Speaker Dennis Hastert’s arraignment was rescheduled from this Thursday to next Tuesday. No reason was given for the change, but maybe it has something to do with the fact that there’s still “no attorney of record” on the case. [National Law Journal]

    * Many doctors are hoping that tort reform will save them from litigating their malpractice cases, but there’s an easy alternative. In order to be sued less often, doctors should try to talk more to their patients. What a novel concept. [The Upshot / New York Times]

    21 Comments / / Jun 3, 2015 at 9:00 AM
  • Mouth wide shut

    Wall Street

    Wall Street Is So Corrupt It Thinks It Has To Be

    Can you report illegality in your workplace? YES..

    0 Comments / / May 20, 2015 at 4:34 PM
  • Bond photo by Shutterstock.

    Career Alternatives, Job Searches, Wall Street

    alt.legal: When Everyone Sees What The Best Bond Lawyers See

    Join former Biglaw attorneys in changing the bond world.

    11 Comments / / Apr 22, 2015 at 3:02 PM
  • Cadwalader Wickersham Taft CWT by David Lat

    Biglaw, Hedge Funds / Private Equity, Partner Issues

    Musical Chairs: A Major Move Out Of Cadwalader

    The revolving door spins again at Cadwalader, this time with a firm leader taking his leave.

    12 Comments / / Jan 21, 2015 at 5:33 PM
  • JPM Chase

    Wall Street

    Jamie Dimon Complains Of Regulatory Bukkake

    Just because he’s rich and powerful doesn’t mean he’s wrong.

    1 Comment / / Jan 14, 2015 at 4:32 PM
  • Height Chart

    Biglaw, Boutique Law Firms, Small Law Firms

    Beyond Biglaw: Market Analysis

    If there were a law firm stock market, would you be buying or selling your firm’s shares?

    6 Comments / / Dec 9, 2014 at 10:15 AM
  • 2nd Circuit, Books, Holidays and Seasons, Murder, Non-Sequiturs, Ruth Bader Ginsburg, Wall Street

    Non-Sequiturs: 10.31.14

    * Thanks to Wonkette for pointing out that we were on this whole Ruth Baby Ginsburg thing last year. [Wonkette]

    * Speaking of our legally themed Halloween costume contest, please send us your nominations. [Above the Law]

    * Salacious allegations about a high-flying investment banker invite comparisons to The Wolf of Wall Street. [Dealbreaker]

    * The Second Circuit puts a stop to a legal challenge to the stop-and-frisk settlement. [How Appealing]

    * You’d expect a former lawmaker to have a better understanding of… the law. [Lexington Herald-Leader]

    * The Wall Street Journal reviews Paul Barrett’s new book (affiliate link) about the never-ending Chevron/Ecuador litigation. [Wall Street Journal]

    * Speaking of the Chevron/Ecuador matter, here’s more about the Canadian Bar Association’s controversial involvement, which Canada columnist Steve Dykstra covered earlier. [rabble.ca]

    * Some thoughts from Jonathan Mermin on something lawyers see every day: bad arguments. [Green Bag]

    * Here’s a great new resource for our fellow aficionados of appellate arguments. [Free Law Project]

    2 Comments / / Oct 31, 2014 at 4:47 PM
  • depressed head in hands

    Banking Law, Deaths, General Counsel, Suicide, Wall Street

    Big Bank’s Associate GC Found Dead In Apparent Suicide

    The former SEC and Skadden lawyer was the second Deutsche Bank executive to commit suicide this year.

    / Oct 28, 2014 at 12:09 PM
  • Supreme Court SCOTUS photo by David Lat

    Art, Banking Law, Canada, Gay, Morning Docket, Politics, SCOTUS, Sexual Harassment, State Judges, Supreme Court, United Kingdom / Great Britain, Wall Street

    Morning Docket: 10.28.14

    * Some observers do not appreciate the U.S. Supreme Court’s recent Delphic pronouncements on a slew of hot-button issues. [New York Times]

    * The New York Court of Appeals does international banks a solid — but is it bad policy? [Reuters]

    * Fired Canadian radio host Jian Ghomeshi hires Dentons to sue CBC, which dismissed him over allegations of sexual misconduct. [American Lawyer]

    * Is post-Citizens United money polluting judicial elections? [New York Times via How Appealing]

    * An Englishman sues Sotheby’s, alleging that the auction house negligently failed to inform him that a painting he sold through Sotheby’s was by Caravaggio and worth millions. [BBC]

    * If you’re a lawyer looking for extra income, check out Avvo’s new service, which offers consumers on-demand legal advice for a fixed fee. [Law Sites via ABA Journal]

    * Is it reversible error for a judge to refuse to ask voir dire questions related to sexual-preference prejudices? [Southern District of Florida via How Appealing]

    17 Comments / / Oct 28, 2014 at 9:09 AM
  • house home RF

    Finance

    CFPB Manufactured Housing White Paper May Presage Future Regulation

    The CFPB has issued a white paper on the manufactured housing market, including how manufactured housing is financed and the types of consumers who purchase or rent such housing. In the paper’s introduction, the CFPB explains that although manufactured housing only accounts for six percent of all occupied housing and a much smaller fraction of U.S. home loan originations, such housing is of interest to the CFPB because it is a source of affordable housing particularly for rural and low income consumers and may raise consumer protection concerns due to the nature of the retail and financing markets for such housing. The report relies on publicly available data, including HMDA data, proprietary data voluntarily provided to the CFPB and information obtained through outreach to industry groups, consumer groups, government agencies and “a variety of market participants and observers.”

    The paper’s key findings include:

    / Oct 16, 2014 at 10:46 AM
  • money in the hands

    Securities and Exchange Commission, Wall Street

    The New Era of Money Market Fund Regulation

    On July 23, 2014, the U.S. Securities and Exchange Commission (SEC) voted 3–2 to significantly amend the regulatory framework of money market mutual funds (MMFs), particularly Rule 2a-7 under the Investment Company Act of 1940, as amended (the 1940 Act).1 These changes come four years after the SEC last adopted several amendments to Rule 2a-7 and follow a lengthy debate surrounding MMF reform among regulators and industry participants. The amendments and related regulations will drastically alter the MMF industry and force MMFs and their boards of directors and advisers to make substantial changes to their product offerings, operations, and compliance processes.

    / Oct 6, 2014 at 4:31 PM
  • Carmelo Anthony

    Election Law, Non-Sequiturs, SCOTUS, Sports, Supreme Court, Wall Street

    Non-Sequiturs: 10.03.14

    * Apparently, heckling Carmelo Anthony can cost you your job. [Dealbreaker]

    * There’s nothing the Supreme Court can do to stop cops who want to take a long time to release you from a stop, even if the Court wants to. [Simple Justice]

    * I think we should just ask John Roberts to tell every state precisely how they are allowed to discriminate against black voters and be done with it. Just tell us the rules so we can start the GOTV campaigns. [Election Law Blog]

    * Former Manhattan Assemblywoman Gabriela Rosa gets a year in jail for purchasing a sham marriage to gain citizenship. The “for citizenship” part is what got her, because lots of politicians are in sham marriages. [Journal News]

    * Judge Frank Easterbrook thinks that the new proposed length limit for appellate briefs is too short. Verbose litigators everywhere, rejoice. [How Appealing]

    * I thought “spoofing” was bad for the market, but Matt Levine says cracking down on spoofing “helps” high-frequency traders, who I also think are bad for the market. You know why I’m not an SEC lawyer? Prosecuting people based on them being “bad” becomes untenable when everybody involved is rich. [Bloomberg View]

    24 Comments / / Oct 3, 2014 at 4:04 PM
  • Jordan Belfort

    Events, Law Professors, Media and Journalism, Movies, Rudeness, Sexism, Wall Street, White-Collar Crime

    A ‘Cringeworthy’ Evening With The Real ‘Wolf Of Wall Street’

    Protip: when hosting an event, try to refrain from sexist introductions of your speakers.

    25 Comments / / Sep 11, 2014 at 5:21 PM
  • Judge Jill Pryor

    11th Circuit, Biglaw, Dewey & LeBoeuf, Drugs, Federal Judges, Insider Trading, Judicial Nominations, Law Firm Mergers, Marijuana, Morning Docket, Privacy, Wall Street

    Morning Docket: 09.09.14

    * Mathew Martoma, the former Harvard law student who fabricated his transcript when applying for clerkships, gets nine years in prison for insider trading. [DealBook / New York Times]

    * If Bingham McCutchen moves forward on merger talks with Morgan Lewis, a bunch of Bingham partners might bail. [American Lawyer]

    * Congratulations to Judge Jill Pryor, who will join Judge Bill Pryor on the Eleventh Circuit. [Fulton County Daily Report]

    * Can you be fired for medical marijuana in Colorado, where the drug is legal even for recreational purposes? [ABA Journal]

    * Dewey have some good news for the embattled ex-leaders of the defunct law firm? [New York Law Journal]

    * Home Depot is the latest major retailer to be hit by a data breach. [Washington Post]

    1 Comment / / Sep 9, 2014 at 9:14 AM
  • Save time and money – shop online

    Banking Law, Money, Quote of the Day, Wall Street

    Should Big Trouble For Big Banks Generate Big Legal Bills? Not Necessarily

    Two observers of the legal industry argue that when it comes to legal spending, sometimes less is more.

    5 Comments / / Sep 5, 2014 at 2:44 PM