* The Department of Justice has reached yet another settlement in the Deepwater Horizon oil spill case, this time with Transocean Ltd. for $1.4 billion in civil and criminal penalties and fines. [National Law Journal]
* “[W]ith success comes regulatory scrutiny.” Google convinced the FTC to close its ongoing antitrust probe by promising to change its allegedly shady patent usage and purportedly skewed search terms. [Bloomberg]
* According to Littler Mendelson, federal contractors might want to consider sending out sequestration-related layoff notices to employees in order to comply with the WARN Act. America, f**k yeah! [Government Executive]
* Governor Andrew Cuomo will have a major impact on the New York Court of Appeals when appointing new judges. It could be a partisan decision, but his father, former Governor Mario Cuomo, insists his son will leave politics at home. [Capital New York]
* When you write in defense of the value proposition of law school, you wind up in the op-ed pages of the NYT. When you tell the truth about it, you wind up in the opinion pages of the WSJ. [Wall Street Journal (sub. req.)]
* Remember Danae Couch, the Texas Tech law student who was crowned as Miss Texas? She’ll compete for the Miss America title next weekend. If you’d like to help her become a finalist, you can vote for her here! [KFYO]
* What information Dewey know about the ongoing criminal investigation that’s being conducted by the Manhattan District Attorney’s office? From the sound of it, ex-chairman Steven Davis’s LeBoeuf may be cooked. [Am Law Daily (reg. req.)]
* Dewey know when to admit defeat? A spokesman for the failing firm has insisted that it’s “not formally closed.” Great, because that’ll certainly make it easier to prepare for the involuntary bankruptcy filing that’s in the works. [Reuters]
* Meanwhile, D&L amended its WARN notice with the New York State Department of Labor to raise its total employee count by 100, for a grand total of 533 — 433 of whom have been laid off thus far. [Bloomberg]
* “The defense wasn’t sexy, but the defense doesn’t want sexy. It wants an acquittal.” John Edwards’s legal team rested its case yesterday without calling any of the major players involved to testify. [Associated Press]
* Show me your papers: the California Supreme Court will be deciding whether a law license should be granted to an illegal immigrant who’s already been certified by the State Bar of California. [Los Angeles Times]
* Thank you, Jesus! Utah’s S.J. Quinney College of Law now has an additional $4M in its collection plate to put toward a new building thanks to the Church of Jesus Christ of Latter-day Saints. [National Law Journal]
In our last full post on Dewey & LeBoeuf, the fast-fading New York law firm, we tried to find some moments of humor in this generally depressing story. Now we’ll return to the hard — and gloomy — Dewey news. (We mentioned several D&L items in today’s Morning Docket.)
Without further ado, let’s find out what’s going on….
* When Dewey tell the world that we’re dead, but not yet buried? The firm filed a notice with the New York State Department of Labor listing its closing date as yesterday. And what’s their reason for doing so? “Economic.” [Am Law Daily (sub. req.)]
* Dewey have anyone left in the Office of the Chairman? Apparently not: Charles Landgraf has moved on to greener pastures. There is no longer a captain at the wheel of the S.S. Dewey. [The Hill]
* “The continuing loss of revenue-generating partners and Dewey’s debt load has culminated in the imminent demise of Dewey.” Damn, the PBGC certainly doesn’t mince words. Meet the firm’s latest lawsuit. [Reuters]
* A judge reinstated Le-Nature’s $500M case against K&L Gates for failure to detect fraud. Hope the firm has a half-billion lying around — they haven’t been doing too well with the whole honesty thing lately. [Businessweek]
* You stay classy, DSK! Your aggravated pimp hand is strong! Dominique Strauss-Kahn filed a $1M countersuit against Nafissatou Diallo because she “ruined his life, personally and professionally.” [Wall Street Journal]
* Conspiring to price fix? There’s an app for that! A federal judge denied Apple’s and several book publishers’ motions to dismiss a consumer class-action lawsuit about e-book pricing. [Media Decoder / New York Times]
* Like FernGully in reverse? A judge refused to dismiss Chevron’s racketeering and fraud lawsuit against New York attorney Steven Donziger for his work done in Ecuador. [New York Law Journal]
* Thomas Jefferson Law will be the site of the next solo incubator. This is a great way to keep your grads from suing you (not to mention a great way to increase your employed-at-nine-months rate). [National Law Journal]
Over the past few weeks, we’ve been in touch with dozens of people affected by the downfall of Dewey & LeBoeuf. In terms of reactions, two emotions have predominated: sadness at what has happened to a once-great law firm, and anger towards those viewed as blameworthy.
But there have been other responses as well, of a more odd nature. Here are two illustrative, somewhat amusing stories….
That’s the question the WSJ Law Blog just asked about the [pick your favorite adjective: beleaguered / collapsing / flailing / troubled] law firm of Dewey & LeBoeuf. Today brings big, bad news for Dewey: bankruptcy superstar Martin Bienenstock is taking his practice to Proskauer Rose. He’s moving with five other partners — Philip Abelson, Irena Goldstein, Timothy Karcher, Michael Kessler, Judy Liu — and nine associates.
Dewey’s loss is Proskauer’s gain. “He is absolutely the crown jewel over there, a fantastic lawyer who will be a great partner,” a current Proskauer partner told us. “This is going to vault us into the company of Kirkland and Weil, giving us one of the top bankruptcy practices in the country. We are really thrilled.”
We have previously discussed the subject of pensions at the deeply troubled law firm of Dewey & LeBoeuf. Right now it’s looking quite likely that the firm will wind up in dissolution or bankruptcy. If the firm does go down that path, what will happen to the retirement benefits of current and former employees?
Today we have some news on that front — plus UPDATES on other Dewey stories, of course….
This past Friday, we broke the news of the troubled Dewey & LeBoeuf law firm issuing WARN Act notice to its employees. This federal law generally requires an employer “to provide notice 60 days in advance of covered plant closings and covered mass layoffs.”
That was Friday, May 4. Earlier this week, Dewey informed many support staff members that their last day of work would be this Friday, May 11. It then informed many associates that their last day of work will be this coming Tuesday, May 15. Both staffers and associates will be paid through the 15th and will have health insurance through May 31st.
My math skills have atrophied from disuse, but I am still capable of counting to 60. And it seems to me that Dewey did not provide its employees with 60 days notice of its mass layoffs.
Last night, when we reported the news of secretarial staff layoffs at Dewey & LeBoeuf, we mentioned a prediction of additional layoffs today — i.e., Tuesday — or later in the week. That prediction has already come to pass — like so many predictions about Dewey, sadly.
Last night, they came for the secretaries. This time, they’ve come for the associates….
The U.S. employees of Dewey & LeBoeuf received a letter today that many of them have been expecting for a long time.
It was a note warning people to prepare for the worst. It was a letter finally admitting to firm employees that “it is possible that adverse developments could ultimately result in the closure of the firm.”
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 six years. You can reach them by email: [email protected].
Since late last year, things have been booming in Hong Kong / China in cap markets, especially Hong Kong IPOs. M&A deal flow has recently been getting a bit stronger as well. Although one can’t predict such things with any certainty, all signs are pointing to a banner entire 2014 for the top end US corporate and cap markets practices in Hong Kong / China. This is not really new news, as its been the feeling most in the market have had for a few months now and things continue to look good.
The head of our Asia practice, Evan Jowers, has been in Hong Kong for about 10 days a month (with trips every other month to both Shanghai and Bejing) for the past 7 months (Robert Kinney and Evan Jowers will be in Hong Kong again March 15 to 23), and spending most of his time there meeting with senior US hiring partners at just about all the major US and UK firms there, as well as prospective candidates at all associate levels and partner levels, and when in the US, Evan works Asia hours and is regularly on the phone with such persons, as our the other members of our Asia team. Our Yuliya Vinokurova is in Hong Kong every other month and Robert is there about 5 times a year as well. While we have a solid Asia team of recruiters, Evan Jowers will spend at least some time with all of our candidates for Asia position. We have had long standing relationships, and good friendships in some cases, with hiring partners and other senior US partners in Asia for 8 years now.
Are you challenged by the costs and logistics of maintaining your office, distracting you from the practice of law?
Many small firms are successfully moving part—or even all—of their practice to a virtual setting. This even includes multi-jurisdictional practice spanning several states and practice areas, although solo and small partnerships are still the largest adopters of virtual law.
Can you do the same? The new article Mobile in Practice, Virtual by Design from author Jared Correia, Esq., explores how mobile technology bring real-life benefits to a small law firm. Read this new article—the next in Thomson Reuters’ Independent Thinking series for small firms—to explore how a mobile practice:
Everyone is talking about the importance of Social Media in Corporate America. But it is relatively safe to say that most law firms and lawyers are slightly behind the social curve. Most lawyers, at minimum, use LinkedIn, for networking. Some even use Twitter for pushing out short, pithy content, while many have Blogs, where they write their little hearts out. The adage “it is better to give than to receive” is not always true though in the world of Social. In the Social World – it is best to listen, give back and engage.
Social Media is a communications tool that can deeply educate you about the needs and wants of your clients and prospects when used in conjunction social media monitoring and sharing tools.
Take this quick quiz and see if you know how to use Social to help you engage more with your clients or to better service the ones you have.