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Group Mentality: Lawyers Moving En Masse
As the legal market undergoes a tectonic shift due to law firm megamergers, one of the reverberations is an apparent surge in the number of law firms picking off clusters of attorneys from rival practices.Mass Law Firm Layoffs Follow Fen-Phen Finale
With an abrupt end to mass tort litigation over the fen-phen diet drug, New Jersey's Porzio, Bromberg & Newman has laid off 53 people, including 16 lawyers and 21 paralegals. Porzio had been defending pharmaceutical giant Wyeth, but the work dried up when the firm representing most of the remaining 943 cases administratively withdrew the complaints. One associate called the dismissal process "heinous," while others questioned the recruitment of laterals, instead of more contract lawyers, for the Wyeth work.Antitrust Enforcers to Stiffen Reviews
The DOJ's aggressive prosecution of illegal cartels is spilling over to merger enforcement, which could make it harder to secure approval for deals. The deputy assistant attorney general for antitrust informed the ABA antitrust section last week that cartels form even with six or eight competitors in the market -- suggesting that the division could block mergers where as many as a half dozen competitors remain in the market.Man Pleads Guilty in First Conviction in Iraqi Oil Scandal
A U.S. citizen pleaded guilty Tuesday to secretly working for the Iraqi government for the repeal of sanctions against Saddam Hussein's regime. In the first conviction in a wide-ranging investigation into the United Nations oil-for-food scandal, Iraqi-born Samir Ambrose Vincent admitted he conspired to act as an unregistered agent of a foreign power by lobbying in the United States. According to court transcripts, Vincent portrayed himself as a key player in establishing the program.Cozen O'Connor Attorneys Assist In $2.9 Billion Sale of Cigar Maker
Cigar manufacturer John Middleton Inc. has been around since 1856 but its agreement to sell earlier this month was far from a long-term affair.Use Trial Technology but Don't Overdo It
Trial lawyers like litigation software, and many are quite comfortable using it in the courtroom. But litigators warn high tech alone won't sway a jury. "The flash is not the goal," as Gregg LoCascio of Kirkland & Ellis points out. "It's all about getting the message across."Trending Stories
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