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Boston Firms Embrace Bonuses Over Jacking Up Salaries
Some, but not all, of Boston's biggest law firms have joined the latest round of $10,000 raises for first-year associates nationally, and others may be waiting to see how much the economy will slow before they re-enter the associate pay race that consumed the legal community a year ago.The Churn: Lateral Moves in The Am Law 200
Five high-level government employees leave the public sector to join four Am Law 200 firms; a Goldman Sachs attorney has been named cochair of Fried, Frank, Harris, Shriver & Jacobson; and Sidley Austin adds a finance partner in Houston. The Churn is constant. Please send all announcements and news releases to [email protected]For Summer Associates, Size Does Matter
Small is beautiful, according to the more than 7,300 respondents to our Summer Associates Survey. Though the summers liked big firms, their evaluations show they liked life at small to midsize firms better. Students craved juicy assignments, friendly offices and lots of attention, and the firms that best met these needs tended to be medium-size, with smaller summer programs. Whether big or small, firms that did well in the survey focused on training, mentoring and involving summers in exciting projects.The Real World According to Summer Associates
Summer associates come off as a tough crew in The American Lawyer's survey of almost 6,800 interns at about 200 firms, welcoming brutal honesty about their own performances and leaving none of the firms immune from suggestions for improvement. But overall, law students gave their summer employers lots of praise. While the survey's upper tiers included many familiar names, plenty of newcomers hit high notes -- and two of the top 10 slots were captured by firms that vaulted more than 100 spots.The government's case against Stryker Biotech and three of its executives was set to be a rare instance of an off-label marketing case going before a jury. But after only two days of trial, the Boston U.S. attorney's office reached a $15 million settlement with the company, represented by Ropes & Gray. Prosecutors also dropped charges against the executives, represented by Wilmer, Libby Hoopes, and Nutter, McClennen.
There's been no shortage of white-collar prosecutions gone awry in recent years. But that's no consolation for federal prosecutors in Boston, whose criminal cases against a quartet of former Stryker Biotech officials abruptly imploded over the last three weeks.
With whistleblower awards increasingly topping $100 million, it's no surprise that fee fights are starting to pile up. Now they've ensnarled lawyers involved in two of the biggest federal recoveries to date--the $3 billion wrested from GlaxoSmithKline in July over illegal drug marketing claims, and the $5 billion in back taxes and $780 million in penalties that the IRS recovered from UBS in September.
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