Wall Street
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Divorce Train Wrecks, Hedge Funds / Private Equity, Lawyer of the Day, Wall Street, Weirdness
More Twists, Turns, and Craziness from Patricia Cohen's SAC Inspired Lawsuit
Patricia Cohen, ex-wife of SAC Capital billionaire Steve Cohen, has dropped her lawsuit against her ex-husband. Except she hasn’t. Dealbreaker is covering all the ins-and-outs of this case. After it was reported that the lawsuit had been dropped, Dealbreaker received comment from Patricia Cohen. Bess Levin writes: Uh, so Patricia has this to say: “I […] -
Divorce Train Wrecks, Hedge Funds / Private Equity, McCarter & English, Wall Street, Weirdness
Patricia Cohen Switches Horses in the Middle of the Race
Last month we mentioned the civil RICO lawsuit filed against billionaire financier Steve Cohen by his ex-wife, Patricia Cohen. The suit is just a few weeks old — Mr. Cohen has yet to file an answer — but there’s already a new development. Patricia Cohen has replaced her original lawyer — prominent trial lawyer Paul […] - Sponsored
Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm. -
Antonin Scalia, Books, English Grammar and Usage, Jeffrey Rosen, John Yoo, Media and Journalism, New York Times, Real Estate, Torture, Wall Street
In Today's New York Times
If you happen to be on the frigid East Coast today, currently experiencing the coldest temperatures of the season, grab yourself a cup of cocoa and a copy of the Sunday New York Times. The NYT often has articles of interest to a legal audience, but this weekend’s edition has an especially high number of […]
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Divorce Train Wrecks, Hedge Funds / Private Equity, Lawsuit of the Day, Wall Street
Ex-Wife Goes After Deep Pockets
Billionaire and hedge fund god Steve Cohen, founder of SAC Capital, has been sued in a civil RICO case by his ex-wife, Patricia Cohen. And this isn’t some kind of pro se craziness. The suit is being handled by noted trial attorney Paul Batista. Dealbreaker has the full story, and it is juicy. Click on […] -
Malpractice, Private Equity, Wall Street
Lawsuit of the Day: Cerberus v. Paul Hastings
‘Tis the season for… litigation between law firms and their ex-clients? What happened to the holiday spirit of peace and good will for all? First Simpson Thacher (malpractice), then Debevoise (last item — unpaid fees), and now, Paul Hastings (malpractice). From the New York Law Journal: A financing unit of Cerberus Capital Management L.P. has […] -
Banking Law, Conferences / Symposia, Federalist Society, Securities and Exchange Commission, Wall Street
Regulation of Financial Institutions
We continue our lateblogging of the Federalist Society’s 2009 National Lawyers Convention. The conversations at the conference are always interesting. As far as we’re concerned, this has to be one of the most painless ways to rack up CLE credits. Here’s the next panel discussion that we attended: Regulation of Financial Institutions Hon. Paul S. […] -
Bear Stearns, Trials, Wall Street, White-Collar Crime
Acquittals for Two Bear Stearns Hedge Fund Managers
Congratulations to Williams & Connolly and Hughes Hubbard & Reed, the firms that represented Ralph Cioffi, and Brune & Richard, the litigation boutique that represented Matthew Tannin. Ed. note: This post has been corrected; an earlier version switched the defendants around. Thanks for pointing out the mistake, commenters. Not Guilty! [Dealbreaker] Breaking News: Bear Defendants […] -
Goldman Sachs, In-House Counsel, Money, Wall Street
Goldman Envy Comes to the Legal Profession
Over the weekend, the New York Times had an interesting article about compensation for Wall Street bankers. The article explained how, due to criticism from the public and from Congress, banks shifted employee comp away from cash and towards stocks and options. This shift was supposed to align pay with performance, averting an AIG situation […] - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Crime, Insider Trading, Lawyer of the Day, Wall Street, White-Collar Crime
Lawyers of the Day: Arthur Cutillo, Michael Kimelman, and Jason Goldfarb
Today the winners of Lawyer of the Day honors are obvious. Congratulations to Arthur Cutillo, Michael Kimelman, and Jason Goldbfarb, three attorneys who stand accused of involvement in the infamous Galleon Group insider trading scheme. Both Cutillo and Kimelman have distinguished pedigrees, with ties to two top firms. Cutillo (left), a holder of an M.S. […] -
Crime, Insider Trading, Wall Street, White-Collar Crime
Breaking: Arrest at Ropes & Gray in Galleon Insider Trading Case
The news was first reported by CNBC. See Dealbreaker for more details. We have phone calls and emails in to Ropes & Gray and are waiting to hear back. We will keep you posted on further developments. If you have more info, please email us. Thanks. UPDATE (10:00 AM): According to Bloomberg, the FBI has […] -
Banking Law, Federal Government, Mergers and Acquisitions, Wall Street
Is Wachtell in Trouble For Being Good Lawyers?
The general public really doesn’t understand what top-flight counsel does for their corporate clients. If they did, the pitchforks and torches crowd would be as angry at Wall Street lawyers as they are at Wall Street bankers. Friday’s “revelation” about the advice given to Bank of America by Wachtell Lipton illustrates the point. Am Law […] -
Exercise, Lawsuit of the Day, Violence, Wall Street
Lawsuit of the Day: So You Think You Can Dance?
Have you ever considered the possibility of getting sued for not being able to dance? That’s the reality now facing James Graeber, who allegedly flung a hedge fund employee right off of a dance floor at a New Jersey wedding. The New York Post reports: An Upper West Side woman is suing a rowdy reveler […] -
Celebrities, Gay, Gay Marriage, Hillary Clinton, Morning Docket, Wall Street
Morning Docket: 10.13.09
* Bank of America’s board votes to waive privilege and disclose the legal advice it received on the Merrill Lynch merger, which could spell trouble for B of A’s outside counsel at Wachtell (depending on the advice given). [New York Times] * Meanwhile, B of A expands its team for the SEC litigation in the […]
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Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
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Is The Future Of Law Distributed? Lessons From The Tech Adoption Curve
The rise of remote work has dramatically reshaped the relationship between Lawyers and Law Firms, see how Scale LLP has taken the steps to get…
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Navigating Financial Success by Avoiding Common Pitfalls and Maximizing Firm Performance
In this CLE-eligible webinar, we’ll explore the most common accounting pitfalls and how to avoid them for your firm.
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Accounting / Accountants, Brett Kavanaugh, Going Concern, Sarbanes-Oxley / Sarbox / SOX, SCOTUS, Supreme Court, Wall Street
Will the Supreme Court Knock SOX's Socks Off?
Is the Public Company Accounting Oversight Board unconstitutional? This admittedly boring-sounding entity has the important task of overseeing accounting firms, who in turn keep an eye on the balance sheets of corporate America, through such mechanisms as Sarbanes-Oxley (SOX) compliance. The constitutionality of SOX and the PCAOB is at issue in Free Enterprise Fund v. […] -
Wall Street
Cleary Lawyer Calls Out Cuomo
Yesterday, we covered Andrew Cuomo’s letter to Bank of America. In it, the New York Attorney General ask BofA to essentially waive its attorney client privilege and allow the AG’s office to question BofA outside counsel at Cleary Gottlieb. Update: The NYAG is looking to talk to the lawyers who consulted on the Bank of […] -
Andrew Cuomo, Wall Street, White-Collar Crime
Cleary Lawyers, The NYAG Would Like to Meet You
A couple of weeks ago, I asked if the mainstream media was aware of the existence of Biglaw lawyers. They’re still not, but the New York Attorney General is. Dealbook reports: Attorney General Andrew M. Cuomo fired another shot at Bank of America on Tuesday, asking the bank to allow its lawyers to be questioned. […] -
Biglaw, Securities and Exchange Commission, Wall Street
The Mainstream Media Is Aware That Law Firms Exist, Right?
Will the mainstream media ever hold law firms accountable for their roles in the global financial crisis? Probably not. Relatively speaking, only a small sector of society understands that Biglaw firms played a significant role making “toxic assets” lucrative and legal. Without attorneys, bankers wouldn’t know their tranches from their enhancements. Too few people can […] -
Bernie Madoff, Wall Street, White-Collar Crime
How Well-Endowed Is Bernie Madoff?
You know you want to know…. Hazard a guess. Then click on the link below. Bernie Madoff’s Greatest Scam Of All [Dealbreaker] Earlier: What Kind Of Package Is A Bernie Madoff Package? -
Barack Obama, Ken Feinberg, Politics, Wall Street
Хороший день, Comrade Pay Czar. Не снимите нас
Friday was the last day for companies on the government dole to submit their pay plans to Kenneth Feinberg, our nation’s new Pay Czar. The new compensation commissar is as powerful as a mid-winter blizzard on the Eurasian Steppe. According to Law.com: The Obama administration’s “pay czar” is embarking on a review of proposed compensation […] -
Bernie Madoff, Wall Street, White-Collar Crime
Bad News for the Brothers Madoff?
Or maybe good news? It seems they’ll get to enjoy Labor Day weekend before any trouble hits. Read more and discuss over at Dealbreaker. Federal Prosecutors May Let Andy And Mark Madoff Enjoy Labor Day Weekend [Dealbreaker]