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Washington Catches the Associate-Raise Fever
O'Melveny & Myers said Thursday it would increase its first-year associate salaries in Washington, D.C., to $145,000 -- and in turn threw down a challenge to D.C.-based firms, saying the market for talent had changed. Following that announcement, Hogan & Hartson almost immediately said it was matching the number. The latest raises come on the heels of a flurry of pay increases during the past few days in other key legal markets.2nd Circuit Reinstates Antitrust Claim Against Online Music Providers
An antitrust suit alleging price fixing by Sony BMG Music Entertainment and other producers, licensors and distributors of music on the Internet has been reinstated by a federal appeals court. The 2nd Circuit on Wednesday said the pleadings of music purchasers were sufficient for plaintiffs to pursue their Sherman Act claim against companies who control more than 80 percent of music sold as digital files.Judge Denies Boies Schiller's Motion to Vacate $25,000 in Sanctions
A New York federal magistrate judge has denied a motion to vacate his earlier order imposing $25,000 in sanctions against Boies, Schiller & Flexner for its conduct as plaintiff's counsel in a recently settled antitrust class action against several major modeling agencies. In his denial of the motion to vacate, Judge Henry Pitman said the firm's interrogatory answers were "unquestionably designed to obfuscate rather than illuminate."Law Journal's Parent Company Sold to UK Firm
ALM, publisher of The American Lawyer, The National Law Journal and 30 other national and regional publications, including the New Jersey Law Journal, will be sold to London-based Incisive Media for $630 million.Milberg Appointed Co-Lead Counsel In Backdating Suit
A New York judge has given a boost to Milberg Weiss Bershad & Schulman by appointing the embattled law firm co-lead counsel in a consolidated suit over stock option backdating.Morrison & Foerster Partner Tapped to Be GC at Silicon Valley's VMWare
Dawn Smith made partner two years ago at Morrison & Foerster. Now she'll be general counsel at one of Silicon Valley's biggest new companies, VMWare, which made a splash in 2007 when EMC spun it off in a billion-dollar IPO. Smith was a corporate associate at Wilson Sonsini Goodrich & Rosati before joining MoFo as counsel where she worked on M&A deals like Intel's $884 million deal for Wind River. She replaces Rashmi Garde as legal chief at VMWare.Attorneys Question Cost of New SEC Hedge Fund Rules
Attorneys who represent hedge-fund advisers are skeptical about the impact of a new Securities and Exchange Commission rule that requires their clients to register with the government and provide information about their operations. The SEC says that the regulations, which went into effect on Feb. 1, will encourage improved risk management practices. But critics say the commission has grossly underestimated the compliance costs and market effects that registration imposes on their clients.Trending Stories
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