Where Are All the Financial Regs Lawyers?: The Morning Minute
The news and analysis you need to start your day.
April 25, 2023 at 06:00 AM
4 minute read
Financial Services and Banking
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WHAT WE'RE WATCHING
O LAWYERS, WHERE ART THOU? - Recent bank failures have once again thrown the spotlight on law firms' regulatory offerings, fueling demand for financial services experts. The problem is, those folks are hard to come by. Already a competitive field, the lateral market for such partners is hot despite a more cautious approach to hiring in this economy. As Law.com's Jessie Yount reports, some are finding a shortage of available talent with the expertise they seek. "A lot of firms are realizing it's very hard to repurpose existing attorneys who haven't been working in this area because it's a steeper learning curve than other areas of the law," said Dan Binstock, a partner and Washington, D.C.-based legal recruiter at Garrison & Sisson.
MY CHEMICAL FINANCE - Defense and plaintiffs attorneys rarely agree on matters of a billion-dollar scale. Heck, plaintiffs attorneys hardly ever agree with each other. When it comes to "forever chemicals," however, everyone seems to concede that the human and environmental cost could be astronomical. In the realm of PFAS (poly- and per-fluoroalkyl substances) litigation, all bets are off. But, as Law.com's Christine Schiffner reports, being on the same side might end there. Defendants are facing a joint effort by plaintiffs firms and state attorneys general in suits with so much in potential damages that some wonder whether a bailout fund akin to what the automobile industry saw will be necessary for those facing PFAS liability.
ON THE RADAR - Bellagio Hotel and Casino and its operator MGM Resorts were sued Monday in Nevada District Court. The court action, filed by Nersesian & Sankiewicz on behalf of Theodore Lichtenstein III, accuses the Bellagio of unlawfully confiscating $20,200 in casino chips from the plaintiff that he earned while gaming at the Bellagio. Counsel have not yet appeared for the defendants. The case is 2:23-cv-00629, Lichtenstein, III v. Bellagio, LLC, d/b/a Bellagio Hotel and Casino et al. Stay up on the latest deals and litigation with the new Law.com Radar.
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