Redundancies, the silk round and 2016 predictions – the best of Legal Week last week
The best read news and analysis from Legal Week over the last week
January 19, 2016 at 04:48 AM
2 minute read
Little more than two weeks into the new(ish) year and the stories so far suggest the legal market is in for a mixed year in 2016. Here is our round-up of some of the most read stories on Legal Week over the last seven days.
Kicking off last week law firm leaders from the likes of Allen & Overy, Dentons, Herbert Smith Freehills and Macfarlanes looked into their crystal balls to make their predictions for a year already beset by economic and geopolitical uncertainty.
While many were positive about the year ahead, Reed Smith on Friday gave some indication of the issues potentially facing law firms when it announced it was laying off 45 lawyers and a number of associated support staff.
Turning to the bar, the 2016 silk round (announced last week) is the largest since 2010-11, with 107 new QCs made up, but the number of solicitor-advocates in the group remains stubbornly low, as does representation from women and ethnic minorities.
Meanwhile at Legal Week we had news of our own last week with American Lawyer publisher ALM confirming it was acquiring us. The deal reunites us with our former sister company and creates a legal publishing company with unrivalled global coverage.
Other most-read stories over the last seven days include:
- DLA, Freshfields and Skadden top 2015 M&A market league tables
- Matthew Arnold & Baldwin to close following partner exits to Dentons and Hill Dickinson
- KWM Europe managing partner to step down after just one year in the role
- Barclays appoints Victoria Hardy as GC for Europe and Middle East investment
- Freshfields partners face profit share cut and drop to lower lockstep ladder
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Who Got The Work
Dechert partners Andrew J. Levander, Angela M. Liu and Neil A. Steiner have stepped in to defend Arbor Realty Trust and certain executives in a pending securities class action. The complaint, filed July 31 in New York Eastern District Court by Levi & Korsinsky, contends that the defendants concealed a 'toxic' mobile home portfolio, vastly overstated collateral in regards to the company's loans and failed to disclose an investigation of the company by the FBI. The case, assigned to U.S. District Judge Pamela K. Chen, is 1:24-cv-05347, Martin v. Arbor Realty Trust, Inc. et al.
Who Got The Work
Arthur G. Jakoby, Ryan Feeney and Maxim M.L. Nowak from Herrick Feinstein have stepped in to defend Charles Dilluvio and Seacor Capital in a pending securities lawsuit. The complaint, filed Sept. 30 in New York Southern District Court by the Securities and Exchange Commission, accuses the defendants of using consulting agreements, attorney opinion letters and other mechanisms to skirt regulations limiting stock sales by affiliate companies and allowing the defendants to unlawfully profit from sales of Enzolytics stock. The case, assigned to U.S. District Judge Andrew L. Carter Jr., is 1:24-cv-07362, Securities and Exchange Commission v. Zhabilov et al.
Who Got The Work
Clark Hill members Vincent Roskovensky and Kevin B. Watson have entered appearances for Architectural Steel and Associated Products in a pending environmental lawsuit. The complaint, filed Aug. 27 in Pennsylvania Eastern District Court by Brodsky & Smith on behalf of Hung Trinh, accuses the defendant of discharging polluted stormwater from its steel facility without a permit in violation of the Clean Water Act. The case, assigned to U.S. District Judge Gerald J. Pappert, is 2:24-cv-04490, Trinh v. Architectural Steel And Associated Products, Inc.
Who Got The Work
Michael R. Yellin of Cole Schotz has entered an appearance for S2 d/b/a the Shoe Surgeon, Dominic Chambrone a/k/a Dominic Ciambrone and other defendants in a pending trademark infringement lawsuit. The case, filed July 15 in New York Southern District Court by DLA Piper on behalf of Nike, seeks to enjoin Ciambrone and the other defendants in their attempts to build an 'entire multifaceted' retail empire through their unauthorized use of Nike’s trademark rights. The case, assigned to U.S. District Judge Naomi Reice Buchwald, is 1:24-cv-05307, Nike Inc. v. S2, Inc. et al.
Who Got The Work
Sullivan & Cromwell partner Adam S. Paris has entered an appearance for Orthofix Medical in a pending securities class action arising from a proposed acquisition of SeaSpine by Orthofix. The suit, filed Sept. 6 in California Southern District Court, by Girard Sharp and the Hall Firm, contends that the offering materials and related oral communications contained untrue statements of material fact. According to the complaint, the defendants made a series of misrepresentations about Orthofix’s disclosure controls and internal controls over financial reporting and ethical compliance. The case, assigned to U.S. District Judge Linda Lopez, is 3:24-cv-01593, O'Hara v. Orthofix Medical Inc. et al.
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