Wall Street

* The Eighth Circuit axed a $900K jury award after a lawyer recounted her tale of sexual harassment by a law professor at Drake University Law during closing arguments. Well, that sucks, but we’d really love to know which professor this was. [ABA Journal]

* If flat is the new up, then mergers must be the new growth. The new year is upon us, and law firms are on track to either meet or break the merger record set in 2013. Thus far, 22 firms have announced mergers or acquisitions in 2014. [Washington Post]

* A lawyer in Minnesota who’s been in trouble with the bar quite a few times was recently charged with setting his girlfriend on fire. Yikes, someone’s way too excited about the Fargo mini-series. [Star-Tribune]

* Oscar Pistorius took the stand in his murder trial yesterday, revealing that when he killed his girlfriend Reeva Steenkamp, he was really trying to protect her. This case gives us the sads. :( [New York Times]

* Sorry we’re not sorry about the toupee: Paramount wants this Wolf of Wall Street suit dismissed since it’s undeniable the plaintiff was part of “bizarre travesty that was Stratton Oakmont.” [Hollywood Reporter]

* The federal judiciary is hiring for staff and public defender positions lost during the government’s sequestration throughout the better part of last year. Ready, aim, fire those résumés! [Legal Times]

* New York Biglaw firms always manage to find their way to the top of the Am Law 100 rankings. When all’s said and done, being so close to Wall Street definitely has its perks. [Bloomberg Businessweek]

* Absolutely no one should be alarmed about the fact that Kasowitz Benson’s profits per partner have dropped by 15 percent — well, no one but the equity partners, that is. Have fun with that. [Am Law Daily]

* The managing partner of Jacoby & Meyers is worried people will think his personal injury firm is going under, not Jacoby & Meyers Bankruptcy. Either way, those commercials won’t die. [New York Law Journal]

* A professor at George Mason University Law was pepper sprayed IN THE FAAAAAACE by an unknown assailant in his classroom yesterday afternoon. We’ll obvious have more on this story later. [ARLNow]

* La Verne is the first law school to offer flat-rate tuition. There will be no scholarships and no discounts. Students will pay $25K/year, nothing more, nothing less. This is, dare we say, wise. [National Law Journal]

* “Passion over pension.” Mekka Don, the Weil Gotshal corporate lit attorney turned rapper, just released his first CD, and it’s all about leaving Biglaw to follow his dreams. Go buy it here (affiliate link). [MTV]

Over the years, we’ve covered many Biglaw employees who have been accused or convicted of insider trading. This should come as no surprise, given the confidential and market-moving information that regularly flows through the hallways and computers of leading law firms.

The latest accusations of insider trading involve a lawyer who worked at a white-shoe law firm. This individual stands accused of taking confidential information he was privy to by virtue of his work and passing it along through a middleman to a broker, who then allegedly traded on it. According to the Securities and Exchange Commission, the scheme generated over $5.6 million in illegal profits, with over $168,000 going to the Biglaw tipster.

At which elite law firm did this defendant work, and from which school did he receive his law degree?

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Remember Adriana Ferreyr? She’s the 30-year-old Brazilian telenovela star who’s suing octogenarian moneybags George Soros because he didn’t buy her a $1.9 million apartment (or a $4.3 million apartment; the nerve of that old codger). When we last checked in on her, she was busy hiring Davis Polk alum William Beslow to fling legal arguments at the geriatric gigolo almost thrice her age she once banged, presumably hoping to make billions.

Ferreyr’s adventures in gold-digging continue this month with claims of her wild and crazy antics at a recent deposition in New York. She may only be known as a Hoveround ho in this country, but that doesn’t mean she’s not going to act like a diva.

Adriana Ferreyr doesn’t care if you’re a legal legend of the bar. She’ll still slap the glasses right off your stupid face…

double red triangle arrows Continue reading “Depositions Are Much More Fun When You Knock The Glasses Off Opposing Counsel’s Stupid Face”

* The Woody Allen-Mia Farrow custody findings were pretty damning. But for legal geeks, the important point is footnote 1, where the opinion shouts out then-clerk, now federal judge Analisa Torres for her role in drafting the opinion. [Huffington Post]

* Um… you shouldn’t do that with a sea anemone. [Air Force Court of Criminal Appeals]

* Judge Stanwood Duval presided over the criminal trial of a BP engineer arising from the BP oil spill. He forgot to mention that he was a plaintiff in a suit against BP arising from the BP oil spill. Oops.[New Orleans Times-Picayune]

* Maybe Harvard needs some new tax lawyers. [Chronicle of Higher Education]

* Apparently, the Brits aren’t too thorough with their background checks. A lawyer got exposed for lying about having two Harvard degrees. It only took bar authorities 9 years to figure it out. [Legal Cheek]

* Elie weighs in on the McGruff the crime dog story from last week. [ATL Redline]

* And part of the problem with the background check may start at the law school stage — the U.K. doesn’t consider criminal convictions for fraud in the U.S. as “relevant” for future practitioners of law. One tipster wonders if Stephen Glass should try his luck outside America? [New York Times]

* UNLV Professor Nancy Rapoport offers some mixed thoughts on the Santa Clara professor’s “Local Rules.” [Nancy Rapoport's Blogspot]

* Mathew Martoma’s conviction probably doesn’t mean all that much. Except to him, of course. For him it means some quality time in federal prison. [Dealbreaker]

Mathew Martoma

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:

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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?

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* Judge William Pauley ruled that the NSA’s warrantless spying program is legal, noting that — if it had existed — the government could have predicted the 9/11 attacks. Good point, because intelligence agencies were in no position to figure out that there was an attack brewing without a Big Brother initiative. Oh… wait. [Huffington Post]

* On a related note, a cartoon from 1994 that predicted the NSA’s controversial programs. It’s really kind of scary…. [Slate]

* Britain’s clowns are furious that people are dressing up as clowns and trying to scare people. For their sake, let’s make sure they never hear about Pennywise. [Lowering the Bar]

* Professor Dave Hoffman evaluates the case for flat-rate tuition. [Concurring Opinions]

* The Wolf of Wall Street is about a criminal ripping off poor people. Bankers cheered at a recent showing. There is a lesson to be had there about what bankers would do if given an opportunity. [Business Insider]

* “Knockout,” a game where young boys cold-cock unsuspecting victims, is a serious issue. Nah, just kidding, it’s a crypto-racist overreaction. But at least one kid was stupid enough to try it and then tell a cop about it. Seriously. [Gawker]

* Kansas Law School has been fined and censured by the ABA for recruiting violations surrounding Andrew Wiggins. Wait, no, I got that wrong. KU Law started an LL.M. program without asking, which I’m sure they did only because Wiggins is from Canada. [Topeka Capital-Journal]

* The proposed merger between Patton Boggs and Locke Lord has been called off. Fingers crossed that Bendini Lambert is the next target for Locke Lord. [Am Law Daily]

* Mayor Bloomberg swears at his last set of judges. I mean swears “in.” Man, who gets up this early? [NYC.gov]

* President Obama commutes the sentences of eight inmates convicted of crack-cocaine offenses. [New York Times]

* New Mexico is Breaking Gay. [Bloomberg]

* Did EA know Battlefield 4 would kind of suck before they released it? [Techspot]

* So evidently R. Kelly isn’t “trapped” in the closet, so much as he’s hiding there waiting for your daughter to come home. [The Root]

* Here’s your homework for today: everybody has to go find a dispirited Duck Dynasty fan and patiently explain to him or her the difference between a government infringement on free speech and a network momentarily suspending a bigot. You’re not allowed to punch the fans, you can only use words, and if necessary, hand gestures. [Huffington Post]

* An inside look at the jury deliberations in the recent insider trading trial of Michael Steinberg of SAC Capital. [New York Times]

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…

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