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ALM, The Legal�s Parent Co., Sold to Incisive Media
ALM, publisher of The Legal Intelligencer and 30 other national and regional publications, will be sold to London-based Incisive Media for $630 million, according to a joint announcement yesterday by the two companies.New York Law Firms Seize Chances Offered By Market Changes, Move Into Silicon Valley
As Cravath Kicks off Bonus Season, Will Clients Disapprove?
Cravath, Swaine & Moore on Monday announced year-end associate bonuses that for the most junior lawyers were at best half of what they received last year. Cravath's announcement kicks off the bonus season among New York law firms, but the head of one major law firm said he would expect a negative reaction from clients on "any bonuses being paid in the current economy." He said he expected that a decision to pay bonuses "would have been deferred for some number of months."Citigroup Settles WorldCom Litigation
The cleanup after the collapse of WorldCom Inc. advanced Monday when Citigroup Inc. announced it would pay investors $2.65 billion to settle claims that one of its investment banking units helped disguise WorldCom's accounting fraud. The settlement, if approved by federal Judge Denise Cote, removes a central player from the litigation spawned by WorldCom's revelation that it hid more than $11 billion in costs on its balance sheet.Prominent Law Firms Move to Limit Liability
In a sign of increased caution in the post-Enron world, two of New York's most prominent law firms have elected to become limited liability partnerships. Sullivan & Cromwell and Paul, Weiss, Rifkind, Wharton & Garrison both acquired Limited Liability Partnership status effective Jan. 1, thus ending a combined 250 years of operation as general partnerships.Working With the Same Client for 25 Years: Priceless
Ralph Nader and the adult Web site priceless420.com don't seem to have much in common. One appeals to disaffected Democrats -- the other to those who like to spank disaffected Democrats. Yet both the presidential candidate and the Web site have run afoul of MasterCard by spoofing its "Priceless" ad spots. Distinguishing between trademark misuses needing a tough response or a softer touch has been a collaborative effort between MasterCard's in-house and outside lawyers since the '70s.Trending Stories
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