Paul Weiss chairman Brad Karp believes success flows from familiarity. Instead of a stand-alone appellate practice at the firm, the lead trial lawyer generally handles the appeal. “There’s an advantage on appeal to knowing the record inside out and having lived through the underlying proceedings,” Karp said.
The approach has yielded many significant wins, including a December 2014 ruling in the U.S. Court of Appeals for the Second Circuit. Of counsel Mark Pomerantz represented hedge-fund manager Anthony Chiasson, who was convicted in an insider-trading case. Pomerantz argued the appeal; the conviction was reversed. Pomerantz said the ruling makes it harder for prosecutors to prove insider trading, requiring them to show “a tippee knew that nonpublic information came from an insider who expected to receive some benefit in return.” The U.S. Supreme Court this term declined the government’s certiorari petition.
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