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November 02, 2007 | Law.com

Brokerage Houses Face 'Sweep' Suits

Some major brokerage houses are facing proposed class actions for sweeping uninvested brokerage account money into low-interest accounts at affiliated banks and using the funds to allegedly earn money for the companies while paying lower interest to the sweep-account holders. The "sweep suits" have been filed in federal court in New York and Colorado. Sweeping has become a huge source of revenue for brokerage firms, but a plaintiffs lawyer on the New York cases says the practice is "not defendible."
3 minute read
March 31, 2006 | Law.com

History Is Not on GM's Side

The Connecticut Supreme Court's historic decision in Evans v. General Motors arises from historic precedents. Looking to 19th century English law for guidance, Justice Peter T. Zarella reversed a decision that inventor John W. Evans isn't entitled to have his spellbinding tale of treachery unfold before a jury. Evans is seeking more than $125 million in lost royalties for GM's alleged theft of his design for a sleek and powerful cooling system that first appeared in the 1992 Corvette Stingray.
5 minute read
March 01, 2000 | Law.com

Chain Reaction

The new associate compensation packages could cost firms tens of millions of dollars more than they expected to pay associates. This may be fine for the Silicon Valley firms, with high-tech clients willing to pay almost anything for name-brand firms, and for the New York M&A firms where partners take home upwards of a million dollars a year. But what about the firms that aren't wallowing in dough?
7 minute read
June 25, 2001 | Law.com

New York City Retains Immunity From Punitive Damages in Sexual Harassment Suit

A federal judge set aside a jury's award of $1 million in punitive damages against New York City in a sexual harassment suit brought against the police department by a former civilian employee. In a case of first impression, U.S. District Court Judge Gerard E. Lynch said the New York City Human Rights Law does not abrogate the city's common law sovereign immunity from punitive damages.
5 minute read
August 01, 2006 | Corporate Counsel

Running Late

Nearly a decade after Simpson Thacher kicked off a race for patent work, most Wall Street firms are nowhere near the finish line.
11 minute read
May 16, 2005 | Law.com

Gryphon Buys Placement Firm Update Legal

Gryphon Investors said Friday it has agreed to acquire a majority stake in legal staffing company Update Legal. Nick Orum, a partner at Gryphon, said efforts by law firms and internal corporate legal departments to reduce costs are fueling growth in the legal staffing industry. An increase in financial dealmaking is also contributing to the use of legal staffers, he added. Founded 35 years ago, Update Legal places both attorneys and paralegals; it has offices in nine cities.
3 minute read
August 23, 2007 | Law.com

Some Law Firms Keep the Lid on Partner Pay Info

As law firms expand, they tend to go more corporate. Yet despite the race for talent and push for higher profits per partner, the majority of firms use open compensation systems rooted in a bygone era when law was more a gentleman's profession and less a cutthroat business. And leaders of closed-system firms say knowing about the books fractures relationships and produces rifts within a partnership that show that not all owners are equal. Is the open pay system used by most firms an antiquated relic?
8 minute read
October 28, 2002 | National Law Journal

A-Z chart

8 minute read
August 30, 2007 | Law.com

Midlevel Associates: The Paycheck Report

By collecting salary and bonus information from Am Law 200 associates for its annual associate satisfaction survey, The American Lawyer has calculated median salaries and bonuses for third-, fourth- and fifth-years in major markets. Three years as a big-firm lawyer, and it's a pretty sure bet that the annual paycheck is going to be at least $200,000, the report concludes. Find out which firms in the survey pay the most and which hand out the heftiest checks come bonus time.
5 minute read
April 11, 2007 | Law.com

Sour Suit Starts in Philadelphia Federal Court Over Splenda's Sweetness

The makers of Splenda set out to mislead consumers with an advertising slogan, "made from sugar so it tastes like sugar," that falsely suggests the product is natural, a lawyer for its chief rival told a federal court jury Tuesday. Merisant, the manufacturer of Equal, seeks more than $205 million in damages as well as a court order forcing Splenda to change its ads and packaging. Splenda's lawyer told the jury that Merisant filed the suit only because Splenda was overtaking it in the marketplace.
6 minute read

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