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DOJ Seeks Supreme Court Review of Tobacco Ruling
After six years, the Justice Department's effort to "disgorge" big money from Big Tobacco may be in its final throes. Alleging decades of conspiracy to hide health risks from the public, the government is seeking $280 billion in past profits from nine tobacco companies. The DOJ has asked the Supreme Court to clarify whether companies can be forced to surrender profits for their past transgressions under civil RICO. The Court will consider the appeal, among others, in its private conference Friday.DLA Piper Makes Measured Progress Since Merger
Ten months after creating a worldwide 3,100-lawyer operation, DLA Piper Rudnick Gray Cary faces daunting issues of integration, client conflicts and a management shake-up. At the same time, the firm is entering new markets while building its presence in such target cities as Washington and New York. In the face of criticism, DLA Piper says corporate globalization is one reason for the firm's growth. "If we weren't there, we weren't going to be able to help [clients]," says managing partner Ann Ford.Boies Schiller Fires Back in Lehman-Barclays Dispute
Barclays' lawyers at Boies Schiller & Flexner made a hefty filing Friday in an effort to convince a judge to dismiss a suit arguing Barclays got a $5 billion sweetheart deal when it purchased Lehman Brothers' North American assets at the height of the financial crisis. The thousands of pages filed provide a fascinating glimpse into the chaos of September 2008.Buchanan Ingersoll in Merger Talks With Klett Rooney
Buchanan Ingersoll and Klett Rooney, two giants in the Pittsburgh area, are far along in merger talks with a possible agreement not far off, say legal community sources. Barring major shakeups, the combined firm would be the largest in Pennsylvania, with some 300 lawyers in that state, and more than 530 across all offices. A series of aggressive acquisitions are credited with bolstering Buchanan Ingersoll's financial situation; the firm's profits per equity partner reportedly rose nearly 20 percent in 2005.Creditors Committee Raises Stakes in Lehman-Barclays Dispute
The creditors committee in the Lehman Brothers bankruptcy fired a shot Tuesday in a dispute over whether Barclays received an improper "windfall" in its purchase of Lehman's North American assets and liabilities last September. The dispute has resulted in several motions for discovery and at least three suits. Now, the creditors committee has filed a motion under the terms of the Hague Convention, in the hopes that a U.K. court will require two huge U.K.-based entities to turn over documents related to the Barclays deal.3rd Circuit: Bankruptcy Cases Should Consider Pension Plans as a Whole
In a decision that could have far-reaching implications if more large American companies file for bankruptcy, the 3rd Circuit has ruled that multiple pension plans should be considered in the aggregate for purposes of reorganization under Chapter 11. In the opinion for In re Kaiser Aluminum Corp., Judge Marjorie O. Rendell wrote that the case raises among the circuit courts an issue of first impression involving Chapter 11 debtors seeking to terminate multiple pension plans simultaneously.Cite as: People v. Thomas Clay, 10361/06, NYLJ 1202499230076, at *1 (App. Div., 2nd, Decided June 28, 2011)Before: By Skelos, J.P.; Dickerson, Eng and Lott, JJ.
Sharp Rise In Big Suits Against Firms
It's getting more expensive for corporate lawyers to defend themselves in malpractice cases. A soon-to-be-released study by the American Bar Association shows that the number of big-ticket malpractice suits � those with claims of $2 million or more � has risen dramatically since 1996.Pennie Found to Have Violated Ethics Rules
A Manhattan judge has ruled that recently closed intellectual property law firm Pennie & Edmonds violated state disciplinary rules when it represented clients who later became adverse parties in patent litigation. Justice Charles E. Ramos said he would refer the matter to the Departmental Disciplinary Committee. The committee can recommend punishments, including disbarment for the attorneys in question.Trending Stories
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