Private Equity

Biglaw Partner Jumps 22 Stories To His Death

Where did this partner work, and what might have contributed to his death?

Musical Chairs: Kirkland & Ellis Strikes Again In Houston

Isn't the Houston legal market exciting?

Musical Chairs: Kirkland Raids A Rival To Launch In Houston

Which promising young partner just got pirated away by Kirkland?

Morning Docket: 05.15.12

* Dewey need to send them a wedding present? Because to be honest, we really can’t afford one. Fifty of the firm’s European lawyers jumped ship to tie the knot with Greenberg Traurig in Poland. [WSJ Law Blog] * “I don’t think there’s enough space in the legal market to absorb all the Dewey lawyers that aren’t prepackaged in a group.” When Dewey get on the unemployment line in New York City? [New York Law Journal] * Ropes & Gray is expanding its Chinese private equity practice with plans to double its Asian-based lawyers by the end of the year. For now, the firm’s just poaching partners from Norton Rose and Paul Weiss. [Bloomberg] * John Edwards’s legal team began his defense, and they still don’t know if he’ll be taking the stand. Not to worry, because he’ll be torturing his daughter, Cate Edwards, instead. [CNN] * Remember the Catholic school that fired someone for getting IVF? They’re asserting the “ministerial exception” against Emily Herx — an unordained woman who doesn’t teach religion. [Washington Post] * Apparently this only matters when top-tier schools do it, but like UC Hastings, George Washington Law will be reducing its class size in the hope of keeping new student enrollment below 450. [National Law Journal]

Non-Sequiturs: 04.24.12

* California is cutting prisons. That’s step one. Step two is to shuttle all the prisoners to Los Angeles. Step three involves a series of earthquakes… [McClatchy] * Private equity billionaire Stephen Schwarzman isn’t into 50 Shades of Grey (affiliate link). But David Lat apparently is. I dunno, if you are going to bother with that kind of stuff, you might as well hit Brazzers and get it over with. [Dealbreaker] * I’m all for making sure that the Violence Against Women reauthorization prevents violence against women, not annoyances against women, or criticism against women. [The Volokh Conspiracy] * Speaking of violence against women, I never blame the victim, but dating gun-toting dumbasses rarely helps matters. [Legal Blog Watch] * @chrisdanzig: Stop bullying Obama @realjonlovitz. Leave him alone. Leave Obama alone! [Huffington Post] * What do Vladimir Putin and former Dewey partner John Altorelli allegedly share in common? [New York Post]

Leeds Private Equity To Acquire BAR/BRI

Back in November, we told you that Thomson Reuters was looking to unload BAR/BRI, its bar exam preparation business. The news was huge, given BAR/BRI’s status as a de facto finishing school for would-be lawyers. Today, it appears that BAR/BRI has found a home. According to various reports, BAR/BRI will be acquired by Leeds Equity […]

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 […]

In(de)cisive Media? ALM Reclaims Its Name
(Or: Which industry is more troubled, law or media?)

Gawker reports that Incisive Media — the legal media giant behind the American Lawyer magazine, Law.com, and many other excellent and influential print and online publications — is taking back its old name: American Lawyer Media (ALM). ALM adopted the Incisive moniker back in 2007, after being acquired by Incisive Media for $630 million. Incisive […]

For M&A Lawyers, Is the Premium Party Over?

As some of you have noticed, we have an article in today’s New York Times, in the DealBook Special Section. It’s about fee arrangements in the (highly lucrative) context of mergers-and-acquisitions work. Here’s a teaser: For some firms, billable hours are just the beginning. As the boom rolled on, law firms specializing in mergers and […]

More Woe Ahead for Private Equity and Mortgage-Backed Securities Lawyers?

That seems to be the theme of this very interesting article, by Ben Hallman and Aruna Viswanatha, in the current issue of the American Lawyer. It echoes the problems we discussed back in this post, concerning the $70 million malpractice suit filed against Cadwalader, in connection with the firm’s mortgage-backed securities practice. Here’s an excerpt […]

Lawyerly Lairs: Star Litigator Bails Hedge-Funder Out of $8 Million Mansion

Here’s a sign of changing times: lawyers are picking up luxury real estate holdings that hedge fund guys can’t afford to keep. From the Daily Business Review: A high profile Miami litigator is expanding his real estate holdings on Key Biscayne. Attorney Eugene E. Stearns and his wife, Diana, purchased a two-story home at 250 […]

Job of the Week

Here’s the latest Job of the Week from Lateral Link, ATL’s career partner: Title: Attorney In Charge Of Firmwide Private Equity Knowledge Management Location: Chicago Description: This position is a combination business and legal position at a top international law firm, with no billable hours and no client development expectations. The position is full-time, affording […]

Thank Private Equity for That Raise of Yours

If you look up the term “private equity” in Black’s Law Dictionary, the entry reads: “Lucky bastards who make three times as much as you do, even though you graduated from college at the same time.” But perhaps lawyers should think warm-and-fuzzy thoughts, as opposed to envious and resentful ones, about private equity types. Today’s […]