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The AIG litigation machine keeps humming as a New York federal judge declines to dismiss a class action alleging that the insurer misled shareholders about its credit default swap portfolio.
Precedent ruled the day at the U.S. Court of Appeals for the Fifth Circuit in a price-fixing case against makers of liquid-crystal display panels, even if not all the judges were particularly happy about it. Who was happy? Lawyers for the LCD makers at White & Case.
Survey Points Up Big Firms' Increasing Diversity
Two months after opting out of a class action against Pfizer, a group of major public and private institutional investors are taking matters into their own hands. On Thursday the breakaway investors and their lawyers at Bernstein Litowitz filed their own securities fraud suit, accusing Pfizer of duping shareholders about risks associated with two once-blockbuster drugs.
Never has such high-caliber, high-priced legal talent toiled with so much creativity and effort on a case of so little societal benefit. In the latest round of the Battle of the Billionaire Sailors, Boies persuaded a Manhattan judge to bar the race from taking place in the United Arab Emirates in February.
Since April, the Federal Trade Commission has been fighting to block Phoebe Putney Health Systems from acquiring a rival hospital in southwest Georgia, on the grounds that the merger would create a monopoly on hospital care in the region. On Friday the Eleventh Circuit agreed that the deal was anticompetitive, but the panel also agreed with PPHS's lawyers at Baker & McKenzie and Weil Gotshal that the courts can't do anything to stop it.
Like 'Getting a Date With the Cute Girl in Class': Aglow With IPOs
This year, Silicon Valley's corporate lawyers are at long last the popular kids again as tech companies are going public en masse for first time in years. But a survey of legal fees shows that even with the upswing, generally lawyers aren't getting paid more for the work. It's still a buyers market.An anonymous tipster with apparent inside knowledge of the agency's negotiations with Citi raised the allegations in an unsigned fax to Sen. Charles Grassley. True or not, the fax makes for compelling reading--and we've got a link to it.
Democracy Takes a Hit at Anderson Kill
How does a law firm that treats all its lawyers as partners and is ruled by a one-person, one-vote philosophy fire 15 percent of its members? Egalitarianism goes by the wayside. The firm changes its partnership agreement to concentrate power in the hands of a three-person executive committee before the axe falls. Such was the case at New York's Anderson Kill & Olick, which on March 12 fired 22 of 130 partners.Trending Stories
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