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Bar Prep Company Ordered to Pay $11 Mil. for Copying Questions
In a ruling that promises to fundamentally alter the way many American law students prepare for the bar exam, a federal judge has ruled concluded that a California company illegally copied questions from the Multistate Bar Examination for use in its bar exam preparation courses and ordered it to pay more than $11.9 million to the National Conference of Bar Examiners.
Montgomery McCracken Acquires Investment Group
Montgomery, McCracken, Walker & Rhoads has created an investment management practice by acquiring the Corsell Law Group in Philadelphia. The creation of the practice wasn't high on any management priority list, but Chairman Stephen Madva says the timing couldn't have been better: "With more and more money in private equity offerings, it could not be more ... current." Laura Corsell says leaving her three-attorney practice and its independence was difficult, but "Montgomery was almost irresistible."
Latest Merger Has Midsize Firms Pondering the Altar
It began, perhaps appropriately, at a romantic Manhattan restaurant. Mary Cranston, chair of San Francisco's Pillsbury Winthrop, was having a get-to-know-you lunch with Stephen Huttler, managing partner of D.C.'s Shaw Pittman. The meeting was outwardly casual. "It was kind of like a first date," Huttler recalls. But behind the pleasantries were hard business realities. Last week, after 13 months of courting, the firms announced they would tie the knot. Will the merger convince other law firms to pair off?Bankrupt Victims of Fraudulent Investment Schemes Could Be Barred From Recovery
Some of those involved with innovative and highly leveraged financial transactions will become insolvent due to investment fraud perpetrated by others. Innocent victims, who are eager to recover from all parties that participated in the fraud, may want to file a bankruptcy petition or to seek the appointment of a reciver to act on their behalf. But attorney Amy M. Tonti cautions that such victims, including creditors and investors, should first determine if the in pari delicto defense may bar recovery.Buchanan, Klett Rooney To Merge Into Megafirm
Buchanan Ingersoll and Klett Rooney Lieber & Schorling voted last Tuesday to give the go-ahead to a merger that would create a 525-lawyer national firm. Firm leaders anticipate that Buchanan Ingersoll & Rooney of Philadelphia will be in the top 80 of national firms with estimated gross revenue of $265 million.In Handling Setoffs, Pay Attention to State Law
Limitations on setoff, which can be a valuable state law right incorporated into the Federal Bankruptcy Code, were recently addressed in two decisions by the U.S. Bankruptcy Court for the District of Delaware.Kerr to Lead McCarter & English Phila. Branch
Only five months after joining the firm as a partner in a lateral hiring, litigator Alec Kerr has been named the new Philadelphia office managing partner at New Jersey-based McCarter English. He replaces Glenn Callahan, who will be leaving the firm to open his own practice with wife and fellow McCarter partner Therese Keeley in Cape May, N.J.Pa. Commerce Court Debuts New Arbitration Protocols
An insurance case has become the first case to be decided as a matter of law by the three judges in the Philadelphia Common Pleas Court's commerce program under protocols designed to improve the common law arbitration process. Common Pleas Judge Howland W. Abramson created the protocols in order to promote arbitration to commercial entities by improving some of the commonly perceived detriments of arbitrations. The attorneys involved in the debut case had nothing but praise for the process.Trending Stories
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