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WHAT WE'RE WATCHING

VESTED DISINTEREST - The expression "scared money don't make money" may be most popular among folks who have blown their life savings on sports betting apps, but there is some truth to it: investing involves risk and for lawyers, "risk" is a four-letter word. Some law firms have begun investing in legal tech startups to both bolster and share in their success. But, as Law.com's Victoria Hudgins reports, many firms still don't see legal tech investment as a viable option thanks to a lingering industry-held belief that ownership in tech startups is too much of a gamble. Baretz+Brunelle new law practice partner and co-head Brad Blickstein told Hudgins that investing in legal tech "doesn't fit terribly well culturally and feels risky to lawyers and they usually don't like that. The business structure is an impediment because they have to play with their own money." What do you think? Drop me a line at [email protected].

FIRM DENIAL - Rudy Giuliani, who some of you may be familiar with, claimed in a press interview late last month that his associate consulted with a Greenberg Traurig shareholder about a massive legal fee for representing former President Donald Trump. Now, Law.com's Dan Roe reports, the Am Law 100 firm has responded with a full-throated, "Nuh-uh." Specifically, according to a New York Times report, Giuliani said that his associate, Maria Ryan, had consulted with Greenberg Traurig shareholder Larry Levy about how much Giuliani should ask for from the Trump campaign. In a statement to the American Lawyer, however, Greenberg Traurig denied Giuliani's account, saying quote, "No lawyers or professionals at our firm are in any way consulting with Mr. Giuliani about his legal fees. The firm and Mr. Giuliani parted ways in May 2018, he is neither a client nor an employee, nor affiliated in any way with the firm." OK then!

WELL, ISN'T THAT SPECIAL - SPACS really are the new black. Playstudios Inc., a mobile game publisher backed by MGM Resorts, is going public via SPAC merger in a deal guided by Davis Polk & Wardwell and Latham & Watkins. The combined company, which will be traded on the Nasdaq, has an estimated enterprise value of $1.1 billion. Acies Acquisition Corp., which is chaired by the former CEO of MGM, is advised by a Latham team led by partner Steven Stokdyk. PlayStudios, which is based in Las Vegas, was represented by a Davis Polk team including partners Alan Denenberg and Lee Hochbaum. Stay up on the latest deals and litigation with the new Law.com Radar.

EDITOR'S PICKS

WHILE YOU WERE SLEEPING

SHEAR STRESS - Yesterday we told you that eight Shearman & Sterling arbitration partners, including global arbitration heads Emmanuel Gaillard and Yas Banifatemi, are leaving the firm to start their own boutique. Turns out you can tack on 30 Shearman associates to that deal, according to two people with knowledge of the situation, who told Law.com International's Meganne Tillay that the financial hit to the firm will be "very substantial." They said the team typically accounted for between "$30 million and $40 million" of fee income per year. The firm's overall revenues are close to $1 billion. Shearman, for its part, said it plans to continue working with the spinoff firm, Gaillard Banifatemi Shelbaya Disputes.

WHAT YOU SAID

"This was not a peaceful protest. Hundreds of people came to Washington, D.C., to disrupt the transition of power and to thwart Congress—a branch of the federal government—in carrying out its duty in fulfilling its constitutional task of officially certifying the votes of the Electoral College."