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The private equity industry enjoys a charmed life, with a business model that involves minimal risk and huge payoffs. But is it possible that PE firms—which have thwarted efforts to rein in their special privileges—might not always get their way?
2nd Circuit Attempts to Clarify Fee Rule in Civil Rights Cases
The 2nd Circuit spread consternation in April when it seemed to add additional grounds for reducing fee awards to attorneys who handle civil rights cases. Thursday, the panel denied a request for a rehearing on the fee issue, but it added a footnote. Reaction among lawyers involved in the case was varied, with some hailing the footnote and others saying it will only contribute to the confusion.Companies fighting patent infringement claims once went three frustrating years without a single jury win in the Eastern District of Texas. So far this year, they've prevailed at trial seven times, far eclipsing the number of plaintiffs wins. What gives?
Class Action Antitrust Suit Wins 3rd Circuit's Approval
The 3rd U.S. Circuit Court of Appeals has greenlighted a class action antitrust suit brought by purchasers of corrugated paper products that accused paper manufacturers of conspiring to decrease their production so that prices would rise. Plaintiffs' lawyers hailed the decision as a major victory because the court flatly rejected two defense arguments that could have made it impossible to pursue class remedies in many antitrust cases.Pledge Case Will Get Full Review, Minus Scalia
The U.S. Supreme Court yesterday set the stage for a major First Amendment battle over the words under God in the Pledge of Allegiance.A New Team Taking the Helm at Cooley Godward
Cooley Godward is undergoing a management makeover. The San Francisco firm announced that Stephen Neal will assume the newly created position of chairman and CEO and Mark Pitchford will be the firm's first chief operating officer. Management of the firm is "too much for one person to handle," said firm-wide manager Lee Benton. The catalyst? In the last 18 months, Cooley has added 278 attorneys, for a total of 688.Attorney Ineligibility Order Pursuant to Rule 1:28-2(a)
Notice to the bar.What Can Customers Really Waive?
Christopher Boehr was outraged when he learned that Discover Bank imposed a $29 late fee on some customers even if their payments arrived on the due date. But when he sued for an estimated class of 25 million people, Discover Bank invoked a little-known clause that requires cardholders to waive the filing of a class action, as well as participate in arbitration. Today the state Supreme Court will step in to determine whether arbitration clauses that ban class actions are unconscionable under California law.Trending Stories
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