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Clifford Chance Closes Two West Coast Offices
British legal giant Clifford Chance is closing its San Francisco and Los Angeles offices after partner defections to Orrick, Herrington & Sutcliffe. Clifford Chance said the closings were due to lower-than-expected profitability from the securities litigation group recruited two years ago from now-defunct Brobeck, Phleger & Harrison, but one Orrick-bound partner linked the exodus to Clifford Chance's failure to expand West Coast operations.It's been an eventful couple of weeks for plaintiffs lawyers at Robbins Geller Rudman & Dowd who are targeting Morgan Stanley and the three big ratings companies in a pair of coordinated suits in New York.
Capital Defense Pay Challenged
The legal world will be turned on its head when a State Supreme Court justice in Albany, N.Y. hears arguments this morning on the suit challenging the judges of the New York Court of Appeals over the Court's reduction of attorney compensation rates in capital cases by as much as 50 percent. In the suit, brought by the State Association of Criminal Defense Lawyers, the justice will have the unenviable task of deciding whether the Court of Appeals was within its legal powers in approving the new rates.Federal Ruling Shifts Power In PG&E Bankruptcy Case
Friday`s U.S. District Court decision allowing bankrupt Pacific Gas & Electric Co. to slip out from under state regulation opens up new fronts and shifts the balance of power in the protracted Chapter 11 case.Things may be looking up for victims of convicted Ponzi artist R. Allen Stanford. On Wednesday court-appointed Stanford receiver Ralph Janvey and his lawyers at Baker Botts agreed to make nice with the folks liquidating the fraudster's Antiguan bank, with both sides vowing to work together to recover assets for investors.
$850,000 Attorney Sanction a Record
A growing torrent of frivolous litigation sanctions imposed on Albany attorney Andrew F. Capoccia reached flood tide when an Albany city judge awarded sanctions totaling $850,000 in 87 separate, but similar, debt collection cases last week. State court officials and practitioners said the fine imposed on Capoccia and his firm, Andrew F. Capoccia Law Centers, is by far the largest ever levied under New York's attorney disciplinary rules.How Much Will 'Best Law Firms for Women' List Influence Attorneys?
Female law students entering the recruiting season have another weapon for their interviewing arsenal: a list of the 50 U.S. firms deemed most woman-friendly. The survey by Working Mother magazine and Flex-Time Lawyers covers benefits and compensation; parental leave and policies; child care; workforce profile; flexibility; and retention and advancement. Some women in the profession, however, question how much of an impact the list might have on a newly minted attorney's employment decisions.Nonresident's Contract Suit Bound by Home State's Rules
Clarifying New York's "borrowing statute," the Court of Appeals yesterday held that a nonresident plaintiff's breach of contract claim is subject to the statute of limitations of its home state. Although the disputed contract was negotiated, signed and carried out in New York, the Court rejected a "grouping of contacts" analysis and held that a nonresident plaintiff's cause of action accrues where it suffers the economic injury, generally its state of residence.Trending Stories
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