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Government lawyers sought Tuesday to put hundreds—if not thousands—of civil cases on hold, while regulatory agencies went dark and more than 1,000 Department of Justice lawyers across the country stayed home without pay.
Was Judge Jed Rakoff right to rule on a crucial bankruptcy law provision in Irving Picard's clawback case against the owners of the New York Mets? Or was the Manhattan federal district court judge just unable to resist sinking his teeth into a juicy case?
A dozen Am Law firms failed to convince a federal judge in San Francisco to throw out claims that many of the world's leading consumer electronics companies conspired to fix prices for CD, DVD and Blu Ray recordable and rewritable drives.
For close to two years, counsel for Bank of America at Cleary Gottlieb and Wachtell Lipton have been struggling--and largely failing--to tame consolidated securities, ERISA, and derivative litigation over BofA's 2008 merger with Merrill Lynch. Will Brad Karp, Ted Wells, and their partners at Paul Weiss fare any better?
Andersen`s Lawyer Paints Duncan as Pressured to Plead
Defense attorney Russell Rusty Hardin Jr. is doing his best to portray former Arthur Andersen auditor David Duncan, the government`s key witness in Andersen`s obstruction of justice trial, as an innocent family man who was pressured to plead guilty to a crime and testify for the government.No. 1 Task for Shearman Leader: Keeping the Firm in the Top Tier
With its illustrious history and posh name, Shearman & Sterling strikes many as the epitome of the patrician, white-shoe New York law firm. But the past few years have seen the 1,013-lawyer firm's image tarnished by associate layoffs, partner departures and signs of internal dissent, all capped by a profitability gap between Shearman and its erstwhile peers. Now the firm may be enjoying a fresh start, due partly to firm leader Rohan Weerasinghe and a 22 percent jump in profits per partner.THE A-LIST 2011 Upheaval in the Ranks
None of the firms on last year's A-List returned to the same spot this year. Whether it was a result of a firm's spike in its associate satisfaction score, or a drop in its revenue per lawyer, the 2011 A-List was all about volatility.The group filed what appears to be its first amicus brief, urging the Second Circuit to uphold U.S. District Judge Jed Rakoff's controversial rejection of the SEC's $285 million settlement with Citigroup. If you expected the brief to be stuffed with inflammatory rhetoric, you'd be wrong.
Charles R. Morgan, BellSouth Corp.
Charles R. Morgan is executive vice president and general counsel of BellSouth Corp., the third-biggest player in the U.S. local phone service market. He says, "Lawyers have an important role here. Their views are considered important. Nobody says, 'That's not a legal matter--we're not interested in your view.'I've told the lawyers, 'You're in in-house heaven here.'"Victims of convicted Ponzi schemer R. Allen Stanford finally got some good news Monday when their class claims against law firms and other advisors accused of aiding in the multibillion dollar fraud were restored. And that's bad news for the primary targets of the litigation, which include Proskauer Rose, Chadbourne & Parke, and Adams & Reese.
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