Insider Trading

Eavesdropping / Wiretapping

Non-Sequiturs: 06.02.14

Crim Law exam features Fifty Shades of Grey prequel as fact pattern. [Legal Cheek] * You’d think being in jail would be a pretty good alibi. But that’s not the Chicago Way! [Overlawyered] * How many law professors have wished they could say this before? “Don’t give me any of your s**tty papers and you get an A.” [Critical-Theory via TaxProf Blog] * Lawyer powerlifting to raise money for mentoring programs. Because donating to charity is more fun when it comes with the risk of severe groin injuries. [Chicago Tribune] * U.S. News has a list of ways being a paralegal first can help with law school. It’s dumb. There’s only one reason paralegal experience helps and that’s to meet practicing lawyers and figure out whether or not law school is even worth it. [U.S. News] * In the past, Professor Nancy Leong was accused of narcissism. But she doesn’t seem to be attention-seeking at all based on this publicly posted shot. Maybe she can post that on Ashley Madison and see what happens… [Instagram] * Regulating imports could drastically improve labor conditions around the world (and potentially bring more jobs back home). But that could curtail profits by a smidgeon so let’s table that discussion. [Lawyers, Guns & Money] * A former AUSA on the Phil Mickelson/Carl Icahn insider trading case and wiretaps. [mitchellepner] * John Oliver made a powerful appeal to the Internet to take action in defense of Net Neutrality. If you want to know what you can do (or don’t even understand the issue) and laugh at the same time, the video is embedded below… [Huffington Post]

By Joe Patrice
6th Circuit

Morning Docket: 03.24.14

* Justice Antonin Scalia isn’t quite ready to publicly weigh in on whether computer data is considered a protected “effect” under the Fourth Amendment. “[T]hat may well come up [before the Supreme Court],” he says. Thanks NSA. [Business Insider] * “[I]t doesn’t take many bad apples in a barrel to cause a stink.” No matter how hard Biglaw firms try to keep their confidential information locked down, someone’s going trade on it. It looks like STB is learning that the hard way. [Wall Street Journal (sub. req.)] * The day after Michigan’s ban on same-sex marriage was struck down by Judge Bernard Friedman, couples who rushed to marry were met with some serious Sixth Circuit sadness. Way to stay and spoil all of the celebrations, judges. [New York Times] * “We’re not the Cleveland Browns,” says one of Case Western Law’s interim co-deans. With that kind of a glowing endorsement, we don’t see how this law school could possibly fail. [Crain's Cleveland Business] * Rutgers Law-Newark has a new low-bono fellowship program “believed to be the first of its kind in the nation.” Some other law schools might have a bone to pick about that statement. [New Jersey Star-Ledger]

By Staci Zaretsky
Crime

Non-Sequiturs: 02.20.14

* Congrats to Weil Gotshal and Fenwick & West for getting in on Facebook’s $19 billion acquisition of WhatsApp, the biggest Internet deal in a decade. [The Recorder] * In South Carolina, you can get arrested for crimes that aren’t even things any more. Like “failure to return a VHS tape.” [Lowering the Bar] * Drunk lawyer at heart of alleged insider trading scheme. [Dealbreaker] * Did LBJ colossally screw up the Supreme Court? [Concurring Opinions] * Were you curious about who would be on the Mount Rushmore of Tax Law professors? No? Well, here they are anyway. [TaxProf Blog] * The so-called “trial penalty” is really a myth and empirical data confirms that defendants who reject plea deals and go to trial actually garner a “trial discount.” Yep, prosecutors aren’t overreaching at all. [PrawfsBlawg] * President Obama called for patent law reform in the State of the Union address. Now we have some insight into what he’s thinking about. [Patently-O] * Congratulations to Matthew Skinner, the next executive director of the LGBT Bar Association of Greater New York! [LeGal]

By Joe Patrice
Harvard

Non-Sequiturs: 02.10.14

* 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]

By Joe Patrice
Biglaw

Morning Docket: 12.20.13

* 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]

By Elie Mystal
Barack Obama

Morning Docket: 12.04.13

* Law professors testify to Congress that President Obama is abusing his power by circumventing Congress. Is this the Congress that takes 239 days of vacation each year and set a record for being the least productive in history? I wonder why any chief executive would circumvent them… [The Blog of the Legal Times] * […]

By Joe Patrice
Attorney Misconduct

Morning Docket: 11.22.13

* Former U.S. Attorney Neil H. MacBride will be joining Davis Polk as a partner in the firm’s white-collar defense practice. Nice work, DPW — he’s actually kind of cute. Earn back that rep! [DealBook / New York Times] * Matthew Kluger, most recently of Wilson Sonsini, was disbarred in D.C. following his insider trading conviction. His criminal career apparently began while he was still in law school. Sheesh. [Blog of Legal Times] * Kent Easter, he of the “I am but a spineless shell of a man” defense, was just on the receiving end of a mistrial. It seems the jury was totally deadlocked. Guess they felt bad for him. [Navelgazing / OC Weekly] * The Iowa Law Student Bar Association supports the school’s decision to cut out-of-state tuition by about $8,000 because to stand against such a measure would be absolutely ridiculous. Congratulations on not being dumb. [Iowa City Press-Citizen] * Apple won more than $290 million from Samsung in its patent infringement retrial. Siri, tell me what the fifth-largest jury award in the U.S. was in 2013. OMG, I didn’t say delete all my contacts. [Bloomberg] * The trial for James Holmes, the shooter in the Aurora, Colorado movie theater massacre, was delayed by a judge until further notice. A hearing has been scheduled to reassess the situation in December. [CNN] * Myrna S. Raeder, renowned expert on evidence and criminal procedure, RIP. [ABA Journal]

By Staci Zaretsky
2nd Circuit

Morning Docket: 11.19.13

* President Obama won’t “just sit idly by” as his D.C. Circuit nominees are picked off one by one by Senate Republicans. No, instead he’s going to have his White House Counsel give interviews for him. [National Law Journal] * Today is the 150th anniversary President Abraham Lincoln’s Gettysburg Address. If you’d like, you can watch a live stream of an event celebrating the occasion here at 12 p.m. EST today. [Constitution Accountability Center] * If you want to learn how to write like the U.S. Solicitor General, you can get the “Bluebook for Supreme practitioners” right here (affiliate link) to see exactly how it’s done. [Supreme Court Brief / National Law Journal (sub. req.).] * The Second Circuit slapped down a few requests yesterday, the most notable of which being Argentina’s bid for a full rehearing and Raj Rajaratnam’s plea for a review of his conviction. [Bloomberg; Bloomberg] * You don’t know what you got till it’s gone: Weil Gotshal is welcoming back a former finance partner after a seven-year stint at Norton Rose Fulbright to fill out its emptied Dallas office. [Law 360 (sub. req.)] * Dewey know when the axe man commeth for those who refused to join the failed firm’s $70 million partner contribution plan? Right now. Will Marcoux is the first to face off against Alan Jacobs. [Am Law Daily] * Despite all warnings, you want to go to law school so badly that you’re reapplying. Well, we probably can’t help you much, but here are some tips. [Law Admissions Lowdown / U.S. News & World Report]

By Staci Zaretsky
Biglaw

Morning Docket: 11.13.13

* Citi reports that firms saw a revenue jump of 2.7 percent in the third quarter. Revenue has now finally outpaced expenses for the year. Let the good times roll? [The AmLaw Daily] * In regulatory fun, the Comptroller of the Currency issued a whole mess of new regulations on how banks can use consulting firms to comply with enforcement orders. In a nutshell, consultants should do their jobs rather than rubber stamp for the banks. Once again regulation arrives long after common sense required it. [Washington Post] * A new company called Fantex Holdings might turn your fantasy football chatter into insider trading by securitizing athletes. Now TacoCorp can endure an SEC investigation just like real companies. [Corporate Counsel] * Microsoft’s top IP counsel [Corporate Counsel] * Harvey Updyke, the Alabama fan who destroyed Auburn’s landmark trees, owes $796,000 according to a judge. Roll Tide. [Courthouse News Service] * Veterans applying to law school should take these tips to heart. [Blueprint Prep] * The Amanda Knox trial has a ton of experts involved. No defendant, but a ton of experts. [The Expert Institute]

By Joe Patrice
Barack Obama

Morning Docket 11.12.13

* Who are the real victims of insider trading? It’s the Duke brothers, duh. [DealBook / New York Times] * Judge Ellen Huvelle has ordered the government to turn over to her an executive order that the feds claim is subject to executive privilege. Judge Huvelle rejected the administration’s argument that privilege exists because, “we don’t want to give it to you.” [Politico] * Pepper Hamilton has joined the greener pastures of Silicon Valley, opening an office with three partners poached from Goodwin Proctor. [Reuters Legal (sub. req.)] * Speaking of poaching, Martin Dunn, former deputy director of the SEC and O’Melveny partner is joining Morrison & Foerster. [The Blog of the Legal Times] * And while we’re at it, M&A partner Sean Rodgers has left Simpson Thacher to merge with Kirkland & Ellis. [The AmLaw Daily] * Publisher ALM (The American Lawyer, Corporate Counsel, The National Law Journal, The New York Law Journal) has a new technology partner and hopes to boost its readership. If they want to boost their readership, wouldn’t starting a new law school be a better investment? [Talking Biz News] * Conservative groups are miffed about video of this Democratic party lawyer “attacking” a Republican at the polls and trying to “steal” an election. It seems like he put his hand over the lens of a camera phone, but sure, this is exactly like telling minorities the wrong day to vote. [Bearing Drift] * The Amanda Knox case has a trade secret component as a battle rages over DNA testing technology. [Trade Secrets Watch / Orrick]

By Joe Patrice
9th Circuit

Morning Docket: 11.11.13

* After months of gains, the legal industry lost 900 jobs in October, just as some of the big state bar exam results came out. We imagine the folks who rallied for the 10-months-after-graduation employment statistic are as pleased as punch. [Am Law Daily] * “How do we find a new inventory of high net worth clients?” The answer for Kelly Drye was really quite simple: it seems that pro athletes are willing to pay just about anything to keep themselves from going bankrupt. [Capital Business / Washington Post] * “I don’t know why it’s better to use a bigger firm.” When it comes to the latest law firm mega-mergers, some say that it’s not the size of the boat, but the motion of the ocean. [Wall Street Journal (sub. req.)] * It’s like Groundhog Day for these Biglaw attorneys: Apple and Samsung are preparing for the “patent trial of the century,” part deux, and both MoFo and Quinn Emanuel have enlisted new lineups. [The Recorder] * SAC Capital’s general counsel is okay, “[a]ll things considered.” His painful appendectomy is nothing compared to the $1.2 billion his hedge fund has to pay the government. [DealBook / New York Times] * Ted Cruz might be an “AASS,” but he’s done at least one awesome thing in his life. He once drank so much Everclear that he completely ruined a play put on by the Harvard Law drama society. [Boston Globe] * The Z-list actress who sued IMDb for revealing her age filed an appeal with the Ninth Circuit because hey, some of those judges are pretty old. Maybe they’ll sympathize. [Hollywood, Esq. / Hollywood Reporter]

By Staci Zaretsky
Boalt Hall

Morning Docket: 10.17.13

* The fiscal impasse in our nation’s capital is over! The government shutdown is over! Obamaphones for everyone!!!!! [Washington Post] * Tim Geithner was recently deposed as part of a lawsuit alleging that the government bailout of AIG was unconstitutional. Muammar Gaddafi was less recently deposed as part of a coup alleging that his female bodyguards were unconstitutionally sexy. [Fox Business] * Berkeley Bird Beheader begins boot bivouac. [Fox5 Vegas via Las Vegas Law Blog] * Cory Booker (Yale Law ’97) won a Senate seat last night, promptly bumping Lat from the cover of the next Yale Law alumni magazine. It was the Halloween issue — the annual Boo Haven edition. [ABC News] * Mark Cuban was acquitted of insider trading charges yesterday. In related news, this basset hound loves fans. [CBS News] * Brooklyn Law faces a possible debt downgrade from Standard & Poor’s. The school’s unemployed graduates, substandard and poor, have yet to weigh in. [Crain's New York Business] * In other law school news, Chicago-Kent announces an interesting new initiative (with a Whopper of a name). [IIT Chicago-Kent College of Law (press release)]

By Juggalo Law