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L.A. Firms' Dirty Little Secret: Hourly Rates
The big firms are getting used to announcing gross revenues that have become, well, gross. They're begrudgingly willing to talk about partner draws that are moving to the million-dollar neighborhood. What the big law firms are still downright shy about are the building blocks of all that filthy lucre: billing rates. Los Angeles insiders don't want to go on the record about charging $500 for partners. Why? "When you start raising rates, you change the way lawyers view each other," says one recruiter.Oracle's Jacobs Has Fun with Former Sun CEO
MoFo partner employs sarcasm, and even a hand gesture, in key cross-exam.Quinn Emanuel's litigation record is still impressive by any measure. But last month's high-profile loss against Apple is an unwelcome reminder that even the winningest firms have to lose sometimes.
Juror Derails Billion Dollar Patent Case
With $1.2 billion on the line and a freshman course in chemistry under his belt, a holdout juror has derailed a two-month patent trial over pioneering DNA research. After six days of deliberations, the jury said it was hopelessly deadlocked at 8-1 in favor of the University of California, which had sued Genentech Inc. for infringing a lucrative human growth hormone patent with widespread medical applications.Ever since Visa and MasterCard reached a $7.2 billion agreement to resolve merchant claims over credit card "swipe fees," critics have been coming out of the woodwork. Now they've formally opposed the class action settlement in court, with the objector's lawyers at Constantine Cannon warning of "serious risks" if the deal is approved.
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