Biglaw Firm Matches Cravath… But Are They Cutting Associate Compensation While No One’s Looking?
Sure, they're giving the same bonus, but lawyers are feeling the pinch elsewhere.
				
			Sure, they're giving the same bonus, but lawyers are feeling the pinch elsewhere.
				
			An inspiring career change.
				
			This Pro Bono Week, get inspired to give back with PLI’s Pursuing Justice: The Pro Bono Files, a one-of-a-kind podcast hosted by Alicia Aiken.
				
			* Ted Cruz predicts another Supreme Court vacancy this year based on absolutely nothing but his desire to see his name in stories reporting his baseless ramblings. [ABA Journal] * Hope you didn't dump your private prison stock, because look who's back in the business of abusing prisoners! [Mother Jones] * Stanford's student senate joins the calls to reinstate the lawyer dropped from the school's referral program for sexual assault victims after she criticized the school. [Law.com] * Covington posts double-digit growth. [National Law Journal] * Brownstein Hyatt Farber Schreck is suing Simpson Thacher over real estate. [National Law Journal] * Revenue recognition rules are changing... what's that going to do to M&A? [Law360] * Securities lawyer gets in juicy lawsuit over sports journalism. [Business Insider] * Law professors file ethics complaint against Kellyanne Conway. For good measure let's rephrase that: Law professors file first ethics complaint against Kellyanne Conway. [Washington Post]
				
			* "Voters deserve to know that personal priorities will never take precedence over the national interest." Thanks to President-elect Donald Trump's unwillingness to release his tax returns, a New York lawmaker has introduced the Tax Returns Uniformly Made Public (TRUMP) Act, which would require presidential and vice presidential candidates to disclose their income tax returns going back five years to appear on the ballot in New York. [Big Law Business] * In what's being considered a blow to college athletes, the Seventh Circuit has ruled that they are not employees deserving of a minimum wage under the Fair Labor Standards Act. Fortunately, there may be a bright spot of hope in a concurring opinion because it shows that "[t]he nature of the relationship between kids who play FBS football and their schools, leagues and the NCAA ... is a business relationship." [Huffington Post] * Weil Gotshal snagged a prominent antitrust partner from Simpson Thacher, and it just so happens that he's already great friends with the attorney with whom he'll work alongside of as co-head of the firm's antitrust practice. Congrats to Kevin J. Arquit (and to Steven A. Newborn, who'll be reunited with a friend). [DealBook / New York Times] * President-elect Trump may turn to another prosecutor turned Biglaw partner to lead the SEC following the departure of Chairwoman Mary Jo White. It looks like Debra Wong Yang, chair Gibson Dunn's crisis management practice, may become Wall Street's "top cop" under the Trump administration. [Wall Street Journal (sub. req.)] * If you thought that the American Bar Association had learned its lesson after the closure of Indiana Tech Law, then you thought wrong, because the ABA has granted the UMass Law School full accreditation. Feast your eyes upon these glorious bar exam passage statistics from the last two July administrations of the test. [Lowell Sun]
				
			Which schools open the most Biglaw doors?
				
			* Judge Posner tells lawyer for Mike Pence: "You are so out of it." Was he talking about the case or the election? [LA Times] * Vibrator sparks class action of bachelorette party attendee class. [Corporate Counsel] * Bayer is looking to buy Monsanto and multiple Biglaw firms are working on this headache. [The Am Law Daily] * Former Simpson Thacher clerk gets 46 months for insider trading. [Law360] * Guess who is funding the battle over pot legalization? [The Intercept] * The next Brown v. Board? [Law.com] * The least shocking lawsuit award goes to this suit claims Georgia's voter registration laws violate federal law. [ABC News]
				
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			One of these firms is a shop that might have given Cravath a run for its money.