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In decision that could help wipe out as much as $2 billion in potential liabilities, OppenheimerFunds Inc. has beaten back a $767 million fraud and breach of contract case over an arbitrage system it oversaw for big banks.
As times get better, so do the bonuses
Associates at several big law firms across the country welcomed the new year with hefty bonuses that were moderately higher than the year before, a reflection of the legal industry's recent prosperity.Judge Finds WaMu Bankruptcy Settlement With JPMorgan and FDIC Reasonable
A federal bankruptcy court judge has vindicated Washington Mutual's $7 billion global settlement with JPMorgan Chase and the FDIC, but denied confirmation of WaMu's reorganization plan.Wal-Mart plaintiffs looking for a break
According to plaintiff lawyers, a $172 million verdict ďż˝ including $115 million in punitive damages ďż˝ wasn't enough to stop America's largest retailer from continuing to violate California's meal and rest break law.Firms rally to raise California associate pay to New York level
More law firms have joined the ranks in announcing plans to raise their first-year associate salaries in California. Latham & Watkins, Paul Hastings, Susman Godfrey, Gibson Dunn, O'Melveny & Myers and Morrison & Foerster are all raising their starting pay to $160,000.Susman Godfrey Raises Associate Salaries, Effective Aug. 1
Partners at Houston-based Susman Godfrey have voted to offer their associates salaries that are in line with compensation comparable to their New York counterparts. Shawn Raymond, partner and chairman of the employment committee, says the new plan offers higher salaries to senior associates without any strings attached.Spring Bonuses Pop Up at V&E, Akin Gump
Following a market move by large New York City firms, both Vinson & Elkins and Akin Gump will pay spring bonuses in May to associates and counsel who received 2010 year-end bonuses. Neither Texas firm has paid spring bonuses before.5th Circuit Hears Attorney's Appeal Of Sanction Order
The 5th U.S. Circuit Court of Appeals heard arguments Aug. 3 regarding whether a federal judge had the authority to level a $10,000 sanction against a Dallas lawyer for acting in bad faith in a case that went to arbitration. Positive Software Solutions Inc. v. Ophelia F. Camiďż˝a, the appeal of the sanction order, involves U.S. District Judge David Godbey's sanction of Camiďż˝a, a partner in the Dallas office of Susman Godfrey, for her actions as a defense attorney in Positive Software Solutions v. New Century Mortgage Corp. — a contentious software license infringement suit filed in Godbey's Dallas court in 2003.Class action approved between NCAA, men's basketball, football players
A federal judge has approved a class action settlement between the National Collegiate Athletic Association and Division 1 football and men's basketball players alleging that the organization limited the amount of financial aid available to them as college students.Minn. Judge Rules Wal-Mart Violated State Labor Laws
Wal-Mart and its lead trial counsel, HoustonĂs Susman Godfrey, are now 0-for-3 in wage-and-hour class action trials.Trending Stories
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