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Big Mergers Fall, But N.J. Lawyers Have Few Worries
Mega-merger activity in New Jersey took a vacation in 2001, but local deal-making lawyers aren`t bothered by the falloff, since most of that work is done by out-of-state firms.A White-Shoe Firm Gets Some Unwelcome Attention
In terms of law firm public relations, having an attorney on staff be accused of paying for sex with young girls may be about as bad as it gets. That's the situation Cravath, Swaine & Moore finds itself in as it deals with the arrest of a former tax associate. Providing a contrast between the white-shoe crowd and some sordid allegations, the situation serves as an example of what to do, and not do, in controlling the damage created by association.U.S. Firms Leading in Eurodeals
In sleepier eras, American law firms practicing in Europe were often relegated to deals where one party was American or where a European firm was listed on a U.S stock exchange. But in Europe's current wave of deals, as European companies embrace U.S.-style M&A tactics, American law firms are often the lead firms on both sides of European deals. U.S. firms long anticipated the M&A boom would remake Europe, but they may not have imagined that when it happened, they would play such an influential role.WorldCom Judge Awards $3.5B to Investors, $194M to Lead Attorneys
A federal judge approved more than $3.5 billion to WorldCom investors Wednesday and granted the lead attorneys' application for fees, awarding the two firms more than $194 million. The award raises the total compensation for the plaintiffs to $6.1 billion and boosts their firms' attorney fees to $335 million. Federal New York Judge Denise Cote's decision brings to a close a major chapter of the largest corporate fraud of the post-Enron era.Fight Over 'Privilege' Heats Up
Attacking the attorney-client privilege, once a rare legal tactic, has become a standard tool of government lawyers these days and a cause for increasing concern among corporate defense attorneys. In the latest attempt to pierce the privilege, the Treasury Department is trying to force Jenkens & Gilchrist to reveal the names of more than 600 clients who used tax shelters that the IRS considers abusive.If This Is a Recovery, Why Am I Unemployed?
With big mergers and Internet IPOs once again making headlines, it's only a matter of time before the legal job market looks like the giddy late '90s, right? Don't hold your breath. There's a robust market for litigators and IP specialists, but opportunities for transactional lawyers, both at firms and in-house, remain elusive. "Nobody's leaving," notes one frustrated headhunter. "Everyone's holding onto their job because they're still scared."N.Y. Federal Judge Rebuffs Recusal Motion Citing Clients of Husband's Firm
Judge Loretta Preska has rejected a request that she recuse herself from a digital music case because her attorney husband, Thomas J. Kavaler, and his firm, Cahill Gordon & Reindel, have represented some of the defendants in other matters. Noting the issue wasn't raised until after she ruled against the plaintiffs on a discovery request, Preska said she could not exclude the possibility that plaintiffs were "dissatisfied with this decision and now seek a second bite at the apple before a different judge."Trending Stories
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