Credit: By stoatphoto/Shutterstock.com 2022 Roundup: Comment Amendments, Ethics Opinion, 'Epstein v. Cantor'
2022 was an eventful year for law firms and law firm partners.
November 23, 2022 at 10:00 AM
13 minute read
2022 was an eventful year for law firms and law firm partners. First, important amendments were made to the Official Comments to Rules 1.4 and 5.6 of the New York Rules of Professional Conduct. These amendments address lawyer departures, and every law firm partner should know about, and ensure that their firm abides by, these amended comments. Second, a significant New York State Bar Association Opinion, Ethics Opinion 1234, was issued, which addresses nonlawyer ownership of law firms. Third, Epstein v. Cantor, a decision of the Supreme Court, Kings County, examines the indicia of partnership to a law firm partnership. Each of these is discussed in this year's roundup.
New Comments Concerning Attorney Departures
In our March 2022 column, we discussed the significant November 2021 amendments to the Official Comments to Rule 5.6 of the New York Rules of Professional Conduct (NYRPC). See Arthur J. Ciampi and Maria L. Ciampi, New Comments to Rule 5.6 That Law Firms and Their Partners Should Know, N.Y. Law Journal (March 2022). The amended comments have important ramifications for lawyers contemplating and/or leaving their firms, and thus, for a law firm and its partners.
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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