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Daily Decision Alert: Vol. 10, No. 19 -- January 29, 2002
Justice Department Sues BP, Eight Other Defendants Over Deepwater Horizon Disaster
The 27-page complaint, filed under the Oil Pollution Act and Clean Water Act, seeks to hold BP responsible for government removal costs, economic losses, and environmental damages.Well, It Could Have Been Worse: Lessons of The Am Law 100
That's the best that can be said for The Am Law 100 law firms last year. Three of four key categories fell, while profits per equity partner edged up by 0.3 percent (thanks to aggressive cost-cutting). And the tough choices are just beginning ...Firms Muscling Up on Bankruptcy
Despite what's expected to be a 12-year low in bankruptcy filings this year, major law firms are starting to beef up their ranks of restructuring attorneys in anticipation of heavier caseloads next year. Law firms generally are looking to boost the head count by 10 percent to expand the practices and replace lawyers who defected to investment banks, hedge funds or smaller firms. "Money will probably not be as free as it has been over the last couple years," says Jenner & Block's Dan Murray.The Gamble on Contingency Cases
Mark Lipowicz persuaded senior partners at Philadelphia's Duane, Morris & Heckscher to join the stampede of state tobacco cases, as co-counsel to the state of Pennsylvania, on contingency. The assignment was atypical for Duane, Morris, a general practice firm that had grown up on the backs of local banks, manufacturers, and insurers. In the end, Duane, Morris didn't have to bet the ranch. As part of the $206 billion tobacco settlement announced last year, the firm will pocket $25 million.Jott Networks Bridges Voice, Text Worlds
If the world is going paperless, then Jott Networks Inc. wants to be the Post-it note of the electronic era. The company, expected to announce a $5.4 million round in Series A funding, is developing a service that lets users turn their spoken comments into text messages and e-mails.Trending Stories
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