Wall Street
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Wall Street
Open Thread: Will Your Firm Get Some Scraps?
More law firms are benefiting — at least in the short term — from Wall Street jumping the shark. The WSJ Law Blog has a roundup of the newest firms to come away with a piece of the bankrupt pie. Cleary Gottlieb Steen & Hamilton advised Barclays on their scavenging Lehman’s North American business, while […] -
Bear Stearns, Job Survey, Wall Street
Associate Life Survey: Life After Lehman Brothers?
As the Fed steps in to save the financial world with a bridge to nowhere AIG, we pause to reflect on the results from Monday’s ATL / Lateral Link survey, which asked whether the woes of Lehman Brothers and Merrill Lynch would hurt your career. We received 830 responses, and quite a few of them […] - Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use. -
Job Survey, Wall Street
Associate Life Survey: Scarier Than A Slumping Bear?
Back in March, we found that 27% of ATL readers — and a third of ATL readers in New York — thought the Bear Stearns collapse would hurt their careers. With Lehman Brothers filing for bankruptcy this morning, and Merrill Lynch selling itself to Bank of America, after “a marathon series of meetings at Wachtell, […]
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Bankruptcy, Mergers and Acquisitions, Wall Street
A Silver Lining to the Wall Street Cloud: More Work for Lawyers (at Shearman, Sullivan, Wachtell, Weil, etc.)
In case you hadn’t heard, Wall Street is in meltdown mode right now. Our colleagues over at Dealbreaker have been working over the weekend and around the clock to cover all the latest developments. Here are the two big stories from the financial world. First, the top-level parent company of Lehman Brothers, Lehman Brothers Holdings […] -
Brett Kavanaugh, D.C. Circuit, Sarbanes-Oxley / Sarbox / SOX, Wall Street
The Sarbanes-Oxley Accounting Board: Not Long For This World?
The constitutionality of the Public Company Accounting Oversight Board, enacted as part of the Sarbanes-Oxley Act, was recently upheld — decision available here (PDF) — by a divided panel of the D.C. Circuit. But those who challenged the Board’s legitimacy are fighting on. The appellants will either seek rehearing en banc in the D.C. Circuit […] -
Gay, Law Professors, Non-Sequiturs, Real Estate, Sexual Harassment, Tax Law, Wall Street
Non-Sequiturs: 08.05.08
* Why does Wall Street get all the juicy scandals? We’re jealous of our DealBreaker colleagues. [Dealbreaker] * Larry Ribstein’s take: “it’s hard not to think that it’s really all about dispute a few weeks ago between [the NYT’s Andrew Ross] Sorkin and Dealbreaker’s John Carney.” [Ideoblog] * Are you in the top one percent […] -
Health Care / Medicine, Wall Street, Weirdness
That partner you work for isn't a 'freak show'; he has a diagnosable medical condition.
This post over at our sister site, Dealbreaker, may remind you of some of your colleagues. It reminded us of a partner we once worked with — a brilliant litigator, with a photographic memory, but not the easiest person to interact with socially. Writes Bess Levin: I’m sure it doesn’t come as a shock for […] -
Wall Street
Wall Street Collapse: A Silver Lining for Lawyers?
Dominating today’s news cycle is the Treasury Department’s plan to reform the nation’s system of financial regulation. For some thoughts on the proposal, check out what John Carney has to say over at our sibling site, Dealbreaker (in posts here and here). This regulatory reform proposal comes at a grim time for Wall Street, characterized […] - 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. -
Wall Street
What's the Difference Between a Banker and a Lawyer?
Here’s the answer (which may relate to our recent post about wombats). From Miss Victoria X, via our sibling site, Dealbreaker: Inspired by the example of the generous Hamptons-based design firm which is now offering its stagings service at a discounted price to current/former/soon to be former Bear Stearns employees (staging is cleaning and prepping […] -
Bear Stearns, Biglaw, Job Survey, Wall Street
Featured Job Survey: A Bears Market?
With JPMorgan quintupling its offer for Bear Stearns earlier this morning, it seems like an appropriate time to discuss last week’s ATL / Lateral Link survey, which asked you whether you were afraid the recent Bear Stearns collapse would hurt your career. Twenty-seven percent of you said yes. New Yorkers were the most concerned, with […] -
Bear Stearns, Mergers and Acquisitions, Screw-Ups, Wall Street
Wachtell Lipton: Fallible After All?
As we can see from the comments, you’re already all over this NYT story. We linked to it in Morning Docket, but here’s a little more. Andrew Ross Sorkin writes: JPMorgan and Bear were prompted to renegotiate after shareholders began threatening to block the deal and it emerged that several “mistakes” were included in the […] -
Biglaw, Litigators, McKee Nelson, Midsize Firms / Regional Firms, Securities Law, Wall Street
Nationwide Layoff Watch: McKee Nelson Says Further Cuts Are 'Unlikely'
An interesting article in today’s New York Times — by Lynnley Browning, author of the earlier Biglaw perks piece — focuses on the subprime mortgage mess and current investigations into the adequacy of disclosures to investors. Investigators are focused on Wall Street, but lawyers involved in the securitization process may also face scrutiny. Government investigation […] -
5th Circuit, Barack Obama, Enron, Food, Hillary Clinton, Morning Docket, Politics, Prisons, Supreme Court, Wall Street
Morning Docket: 01.22.08
* Fed cuts fed funds rate by 0.75%, but stocks are still lower. [AP; New York Times; Washington Post] * Clinton and Obama get snippy with each other in debate, raising questions about each other’s legal work. [Washington Post; New York Times; WSJ Law Blog] * SCOTUS denies review in gigantic Enron-related investors’ lawsuit. [SCOTUSblog […]
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Legal AI: 3 Steps Law Firms Should Take Now
If 2023 introduced legal professionals to generative AI, then 2024 will be when law firms start adapting to utilize it. Things are moving fast, so…
Sponsored
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…
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.
Sponsored
Sponsored
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
How to best leverage generative AI as an early adopter with ethical use.
Sponsored
The Business Case For AI At Your Law Firm
ChatGPT ushers in the age of generative AI – even for law firms.
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SCOTUS, Securities Law, Supreme Court, Wall Street
SCOTUS Sets Limits on Securities Fraud Cases
Earlier this hour, the Supreme Court handed down its eagerly anticipated ruling in the Stoneridge case. See collected links below, to posts by Lyle Denniston at SCOTUSblog and Ashby Jones at the WSJ Law Blog. The opinion itself is available here (PDF). Lyle Denniston writes: The Supreme Court, in one of the most important securities […] -
Biglaw, Health Care / Medicine, Law Schools, Money, Pro Bono, Skaddenfreude, Wall Street
Law and Medicine: Not As Cool as They Used To Be?
That’s the basic question posed by this interesting piece, currently the most emailed article on the New York Times website. After describing some of the sufferings of lawyers and doctors today, Alex Williams writes: [I]n the days when a successful career was built on a number of tacitly recognized pillars — outsize pay, long-term security, […] -
Gender, Jeffrey Epstein, Media and Journalism, Nude Dancing, Sex, Sex Scandals, Wall Street, Weirdness
Maximilia Cordero: Maybe Not a Man - and Ready To Prove It
The story of Cordero v. Epstein — the lawsuit filed by an aspiring model against prominent Wall Street financier Jeffrey Epstein, alleging that he took advantage of her when she was underage — gets weirder by the day. The New York Post reported that the model, Maximilia Cordero, was actually born a man — one […] -
Gender, Jeffrey Epstein, Sex, Sex Scandals, Wall Street, Weirdness
Maximilia Cordero: Maybe Not a Man?
We’re confused. And we’re guessing we’re not alone. We have provided extensive coverage of Cordero v. Epstein, in which model Maximilia Cordero alleges that high-profile financier Jeffrey Epstein took advantage of her when she was underage. To add to the suit’s salaciousness, the New York Post previously claimed that Maximilia Cordero was born a man […] -
Associate Bonus Watch 2007, Bonuses, Money, Wall Street
Associate Bonus Watch: Wall Street
No, not law firm associates — associates at investment banks. In the absence of more law firm bonus news, let’s talk about your friends and classmates on Wall Street, who are still making way more money than you (assuming they haven’t been laid off; hey, bigger risk, bigger reward). From Bloomberg News: Shareholders in the […] -
Blogging, Rudeness, Technology, Wall Street
Biglaw Wall Street Perk Watch: Ability to Read Legal Gossip Sites
Over at Bear Stearns, the powers-that-be have blocked employees from reading our sibling site, DealBreaker. This is not surprising. Given the mass layoffs, Bear needs to keep the survivors busy. The good news, however, is that Bear Stearns employees can still read Above the Law (although query why they’d want to). See here. We must […] -
Banking Law, Books, Contests, Daniel Solove, Non-Sequiturs, Shameless Plugs, Wall Street
Non-Sequiturs: 11.05.07
* Are you in DC and looking for something cool to do later tonight? Attend the talk and book signing for Professor Daniel Solove’s latest work, The Future of Reputation (previously discussed here). [Concurring Opinions] * Are lawyers really a**holes? Or are they just doing their jobs? [WSJ Law Blog] * Some thoughts on possibly […]