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Most of the world's most powerful private equity firms must face an investor class action alleging that they conspired to drive down buy-out prices for publicly traded companies, a federal judge in Boston ruled Thursday.
Has the Recession Forever Changed Large Law Firms?
The worst economic downturn since the Great Depression has hit law firms hard. Big firms are hurting, with profit margins squeezed by sagging demand and record-high expenses. The result: the now familiar litany of mass layoffs, salary freezes and cuts, deferred start dates for first-year associates, and canceled or downsized summer programs. The $160,000 question now is, what happens when the economy recovers? Will things go back to how they were? The answer, according to law firm and law school leaders, is no.This Week in Law Journal History
Law Journal stories throughout the last century.Is FDA's New Chief Counsel a Change in Name Only?
The FDA's new chief counsel, Sheldon Bradshaw, has so far escaped the scrutiny faced by his predecessor, Daniel Troy, who was pilloried for his close ties to the drug industry. But Troy's controversial legal policies remain very much in force. Like Troy, Bradshaw offers one-on-one meetings with companies regulated by the agency, has kept low the number of warnings given about violations of regulations, and, perhaps most notably, continues to intervene on drug companies' behalf in private civil suits.Fifty Years Ago Today, 'Gideon' Affirmed a Right to Counsel
Zuckerman Spaeder partner Paul Shechtman describes the circumstances and personalities behind what is perhaps the most famous decision in the history of American criminal procedure.Plaintiffs lawyers at Hagens Berman failed to persuade a federal judge in L.A. that there's a distinct market for rock concerts that doesn't overlap with markets for pop, country, and other styles, casting the firm's 22-case antitrust litigation against Clear Channel into serious doubt.
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