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April 25, 2013 |

Suspended Traffic Ct. Judge's Co-defendant Pleads Guilty to Fraud

The co-defendant of a suspended Philadelphia Traffic Court judge pled guilty in federal court Wednesday to 37 separate charges related to a scheme to defraud the state Department of Community and Economic Development out of state grant funds awarded to nonprofits.
3 minute read
April 25, 2013 |

The 2013 Am Law 100

In fiscal 2012, The Am Law 100—which has a new leader in gross revenue this year—posted modest gains on all our key metrics. Read the complete package.
5 minute read
April 25, 2013 |

'Gulf Fleet' a Lexicon for Sponsors, Affiliate Transfers and Failed LBOs

In her Distress Mergers & Acquisitions column, Jones Day partner Corinne Ball writes: Litigation over affiliate transactions arising in failed portfolio companies continues to provide guidance on core common issues such as breach of fiduciary duties, avoidance actions, equitable subordination and recharacterization. A recent bankruptcy case illustrates how at least one court will analyze allegations regarding affiliate transactions in the context of a motion to dismiss a recovery action based on a failed leverage buyout.
11 minute read
April 24, 2013 |

Years After Supreme Court Decision, 'Caperton' Continues

Some Supreme Court cases, like old soldiers, never die, but unlike old soldiers, neither do they fade away. Consider Caperton v. A.T. Massey Coal Company. In 2009, a divided Supreme Court held that Hugh Caperton's due process rights were violated when a judge on the West Virginia Supreme Court of Appeals refused to recuse himself from the appeal of a multi-million dollar jury verdict brought by the owner of Massey Coal.
14 minute read
April 24, 2013 |

Am Law 100 Extra: A Sharper Profit Picture

An interactive look at how the firms stack up in terms of four key Am Law 100 metrics: leverage, profit margin, value per lawyer, and profitability index.
1 minute read
Law Journal Press | Digital Book Pennsylvania Causes of Action, 12th Edition Authors: GAETAN J. ALFANO, RONALD J. SHAFFER, JOSHUA C. COHAN View this Book

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April 24, 2013 | Inside Counsel

Managing a global legal department: Getting help from an LPO

Legal process outsourcing (LPO) providers who take on specific projects or tasks at the direction of an in-house legal department have proven themselves to be valuable partners in designing unique, efficient and cost-effective solutions for corporate legal departments
5 minute read
April 24, 2013 | Inside Counsel

DMCA protections do not apply to pre-1972 sound recordings, court rules

The Digital Millennium Copyright Act (DMCA) has shielded many a website from copyright infringement claims. But its protections do not extend to pre-1972 sound recordings, a New York state appeals court ruled on Tuesday.
4 minute read
April 24, 2013 | Inside Counsel

11 noteworthy in-house career moves

Charting some of the most recent GC and in-house appointments
13 minute read
April 24, 2013 |

Streamlining Two-Step Mergers With Proposed Amendment to DGCL

Recent proposed amendments to the Delaware General Corporation Law contain an important addition to Section 251, which governs mergers between Delaware corporations, that would effectively allow the parties to dispense with the need for a back-end stockholder vote on a merger in certain cases where the buyer has acquired a sufficient number of shares in a front-end tender offer. If approved by the Delaware Legislature and signed into law, this amendment, which would appear as Section 251(h), would become effective August 1. If enacted, this amendment would help to streamline two-step transactions, effectively eliminating the delay between the closing of the tender offer and the consummation of the merger that would otherwise result from the need to hold a stockholders' meeting to vote on the adoption of the merger.
7 minute read
April 24, 2013 |

When Is Advice of Counsel a Defense You Can Raise, but Not Disclose?

Most defendants in corporate fiduciary duty litigation want to say, "My lawyer said it was all right." They usually avoid making that point for fear of waiving the attorney-client privilege. A recent Court of Chancery decision suggests that it is possible to say your lawyer advised you without opening the door to disclosure of exactly what the lawyer said. Doing so involves walking a tightrope. One slip and you're waiving your privilege. Yet, the benefits may be worth the risk.
4 minute read

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