The last time we talked to Steve Susman, he told us his firm makes money by settling cases, not trying them. He'll get to put that rule to the test, though, thanks to the $178.7 million verdict his firm just won in a contingency-fee case alleging breach of contract against NL and a subsidiary.

In what appears to be a case of first impression, the appellate court held that a federal judge cannot sanction a lawyer for conduct during arbitration. But that's not the most surprising thing about this case.

Refusing yet again to confirm WaMu's reorganization plan, Delaware federal bankruptcy judge Mary Walrath ruled that the equity committee represented by Susman Godfrey and other objectors had a "colorable claim" against a group of hedge funds that traded in WaMu distressed debt before the estate reached a $7 billion settlement with JPMorgan Chase and the FDIC last year.