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December 15, 2011 | New York Law Journal

Litigation Financing and Non-Lawyer Investment in Law Firms

Evan Glassman and Anthony A. Onorato of Steptoe & Johnson write that the rule prohibiting a for-profit law firm from having non-lawyer shareholders represents a bright line in an otherwise gray area - a Rubicon meant to protect privilege and independent counsel. While "case scale" alternative litigation financing has met with general acceptance, it still raises thorny issues regarding sharing of information and loyalties. These concerns are magnified at the firm level.
11 minute read
October 26, 2012 | Connecticut Law Tribune

Why Is Debt Better Than Equity?

In case you missed it, two weeks ago there was argument at the Second Circuit on the dismissal in New York of the Jacoby & Meyers suit. Jacoby & Meyers is a New York firm (with offices in Connecticut and New Jersey) that sued a variety of state officials in all three states where they operate over the prohibition in their lawyers' ethics rules on non-lawyer stock ownership. From what I read, its lawsuit may see new life.
4 minute read
May 27, 2011 | New York Law Journal

Concerns Over Non-Lawyer Ownership in Law Partnerships

In his Law Firm Partnership Law column, Arthur J. Ciampi of Ciampi LLC discusses Jacoby & Meyers' suit seeking to have Rule 5.4 adjudged unconstitutional, writing: As lawyers, our primary obligations are the interests of our clients. However beneficial the capital from investors may be, permitting a law firm to be owned and therefore controlled (even partially) by non-lawyers may erode that single-minded commitment to clients that our profession requires.
9 minute read
Arguments Set for Suit Over Non-Lawyer Ownership Interest Ban
Publication Date: 2011-10-17
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November 23, 2012 | Daily Business Review

2nd Circuit revives challenge to ban on outside investments in law firms

The Second Circuit vacated a lower court's order dismissing Jacoby & Meyers challenge to Rule 5.4 of New York's Rules of Professional Conduct.
5 minute read
Jacoby & Meyers Loses N.Y. Suit Over Outside Investors, but N.J. Case Continues
Publication Date: 2012-03-08
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December 30, 2009 | Daily Report Online

Misconduct costs lawyer any share of $1.2 million fee

A maritime lawyer's misconduct, including his flight from New York to avoid arrest on contempt charges, has disqualified him from sharing in a contingency fee for work performed prior to his disbarment, a Southern District of New York bankruptcy judge ruled last week. Disbarred lawyer Kenneth Heller's refusal to turn over files in a matter that ultimately was resolved with a $3.
5 minute read
November 23, 2012 | New York Law Journal

Roundup of 2012 Developments

In his Law Firm Partnership Law column, Arthur J. Ciampi, the managing member of Ciampi LLC, writes that law firm news of the year wasthe unprecedented and unfortunate bankruptcy of Dewey & LeBoeuf, which caused legal professionals to seek "higher ground" in the safety of what had previously been Dewey's competitors.
9 minute read
March 22, 2012 | Law.com

Ethics Panel Addresses Issue of Non-Lawyer Owned Firms

Just days after a federal judge rejected a constitutional challenge to New York's ban on non-lawyer equity ownership of law firms, a New York State Bar Association ethics committee has opined that an attorney employed by an out-of-state firm with non-lawyer owners may not practice in this state.
4 minute read
July 02, 2009 | New York Law Journal

Judge Denies Bid to Testify by Video To Avoid Arrest

5 minute read

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