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Se.ections from National Law Journal Daily Headlines May 12, 2009

By David Badertscher, PLL

Source: NLJ.com, May 12, 2009.

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Law business index confirms: it's nasty out there

"Demand for legal services continued to fall during the first quarter of 2009, according to the latest Hildebrandt International Peer Monitor Index. The index, released on May 11, tracks demand for legal services, attorney productivity, billing rates and direct and overhead expenses at law firms in 33 markets to gauge the overall health of the industry and identify trends. The decline was sharp in January and February but flattened somewhat in March â?? potentially a sign that the downward trend has bottomed out, according to the report."

 

No-cash settlement OK'd for Marvell in backdating case, but attorney fees on hold

"A federal judge in California has approved a stock options backdating settlement with Marvell Technology Group that involves no cash payments to the company, but has delayed approving $16 million in attorney fees to be paid to the two plaintiffs firms, Coughlin Stoia and Scott & Scott. The settlement, resolving all derivative claims associated with stock options backdating at Marvell, comes as other judges question fees for plaintiffs firms in noncash settlements of derivative actions involving backdating."

 

Judge allows Blagojevich to hire three defense lawyers, not the seven he requested

"A federal judge in Chicago ruled that indicted former Illinois Governor Rod Blagojevich could use money from his frozen campaign fund to hire three defense attorneys, not the seven lawyers that he sought to handle a "mountain" of material in the criminal case. Kaplan & Sorosky attorney Sheldon Sorosky, the sole Chicago criminal defense lawyer currently representing Blagojevich, argued at a May 11 hearing that the ex-governor would need four lawyers for the trial and an additional three to review documents in preparing for the case."

 

Modern Continental pleads guilty to making false statements related to 'Big Dig'

"The Modern Continental Corp. construction company pleaded guilty in a Boston federal court to making false statements on documents recording work done on Boston's Central Artery, or "Big Dig" project. The company faces up to a $19.5 million fine."

Full post as published by New York Supreme Court Criminal Term Library on May 12, 2009 (boomark / email).