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Legal News

The AM Law Daily

Daily legal news from American Lawyer magazine.
By American Lawyer

Post Frequency: 9.5/day

Last Entry: March 30, 2011 at 21:00:00

Jenner, Edwards Angell Advise on $1.2B RCN Deal

Posted on March 05, 2010
By buying the broadband provider, Boston private equity firm ABRY Partners enters the cable markets in New York, Boston, Chicago, Washington and Philadelphia.

Embattled Paterson Leans on Paul Weiss

Posted on March 05, 2010
New York governor David Paterson has turned to Paul, Weiss, Rifkind, Wharton & Garrison partner Ted Wells to weather a firestorm that has already forced the state's top elected official to abandon his re-election bid--and could yet cost him his job...

Green Shoots? Legal Sector Loses Just 100 Jobs in February

Posted on March 05, 2010
The legal services sector lost only 100 jobs in February, marking the second month in a row the industry has seen a substantial drop-off in losses.

Second Acts

Posted on March 05, 2010
As Robert Khuzami reaches his one-year anniversary as the SEC's new enforcement chief, Congress, investors, and the industry his agency regulates are waiting to see whether structural changes and a beefed-up docket will lead to real change.

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Orrick Partner Sued in Contentious Chapter 11 Case

Posted on March 04, 2010
A mortgage company went bankrupt, and as it sunk, some of its top executives allegedly directed money from the company into a new vehicle they started. And an Orrick partner is at the center of it all.

Big Bankruptcies' Big Fees Raising Questions

Posted on March 04, 2010
The Chapter 11 cases of copper miner Asarco and casino operator Station Casinos have been a gold mine for bankruptcy lawyers. Baker Botts broke the $100 million billable mark in the five-year-old Asarco case last August, and the legal bills in the seven-month-old Station Casinos case are approaching $20 million for a dozen law firms...

Diversity Scorecard 2010: Year's Biggest Losers and Gainers

Posted on March 04, 2010
These firms rose or fell the most on the Scorecard between 2008 and 2009.

A Different Way to Think About Law School Recruiting

Posted on March 01, 2010
NALP's controversial 45-day plan is dead and firms will follow the new modified rules. But it doesn't have to be that way. A few could take off on their own.

K&L Gates to Open in Warsaw with Hogan & Hartson Group

Posted on March 01, 2010
K&L Gates's global expansion continues. The Pittsburgh-based firm is taking on Hogan & Hartson's 38-lawyer Warsaw office for a launch in the Polish capital on March 15.

THE AM LAW 100: Revenue Down, Profits Flat at Winston & Strawn

Posted on March 01, 2010
The Chicago firm lost nearly 7 percent of its non-equity partners and substantially trimmed its lawyer bonus pool in 2009.

Davis Polk, Kramer Levin Advising on MSCI, RiskMetrics Deal

Posted on March 01, 2010
MSCI, the investment analysis and market index company, will purchase RiskMetrics Group, a provider of risk management and corporate governance products and services, in a deal valued at $1.55 billion in cash and stock.

Applause for NALP's Restraint

Posted on March 01, 2010
After months of heated debate, the change to the summer associate recruiting system will--for now--be minimal. And most law firms are relieved.

Cravath, Ropes, Skadden on Merck's $7.2B Millipore Buy

Posted on March 01, 2010
The three firms advised on a $7.2 billion deal that will see German pharmaceutical company Merck KGaA acquire lab filter and purifier manufacturer Millipore. On the outside looking in is lab equipment maker Thermo Fisher, whose lawyers at Wachtell advised on a competing $6 billion bid for Millipore.

Debevoise, Slaughter Lead on Mammoth AIG Deal

Posted on March 01, 2010
The embattled insurer chose to sell its Asian life insurance unit rather than going with an IPO.

Remember the Toddler Bopping Along to the Prince Song?

Posted on March 01, 2010
His mom may be on the way to a major fair use victory.

Silicon Valley Transplants

Posted on March 01, 2010
Curtis Mo is leaving Wilmer's Palo Alto office, which he founded in 2005, for DLA Piper. William Coats, a former office head for White & Case in Palo Alto, is opening a Silicon Valley office for Kaye Scholer.

Steptoe & Johnson Makes Asia Play with Launch of Beijing Office

Posted on March 01, 2010
Steptoe & Johnson is making its first move into Asia with a new office in Beijing. International trade partner Eric Emerson will manage the new office; working alongside him, Susan Munro, a former counsel in O'Melveny's Shanghai office.

The Diversity Scorecard 2010: One Step Back

Posted on March 01, 2010
After almost a decade of steady growth, the percentage of minority lawyers at large firms dropped last year. Diversity advocates worry that--given the drop in minority law school enrollment--the decline has just begun.

THE AM LAW 100: Debevoise Sees Profits, Revenue Slide

Posted on February 26, 2010
Debevoise & Plimpton on Friday revealed that gross revenue dropped 12 percent and profits per equity partner suffered an even steeper fall last year as the recession caught up with the New York-based firm. Revenue fell to $667.9 million, while profits per partner fell 16 percent to $1...

The Churn: Lateral Moves and Promotions in The Am Law 200

Posted on February 26, 2010
DLA Piper picks up a nonprofit CEO, along with ten health care attorneys; M&A partners head to Fried, Frank and Gibson, Dunn; and Skadden scoops a patent trio from Dechert. Plus: moves to Greenberg Traurig, Lowenstein Sandler, and Reed Smith. The Churn is constant...

Justice Department Settles Kickback Case With Troutman Sanders Partner

Posted on February 26, 2010
Leonard Grunstein, the former head of the real estate investments and capitalization practice groups at Troutman Sanders, is one of five defendants to reach a $14 million civil settlement with federal prosecutors in Boston related to their alleged involvement in a $50 million kickback scheme.

THE AM LAW 100: Revenue Falls 11 Percent, Profits Rise at Dewey

Posted on February 26, 2010
The firm trimmed head count a jaw-dropping 17 percent last year, including one in ten partners.

The AM LAW 100: Covington, McGuireWoods and Wiley Rein See Revenue Rise

Posted on February 26, 2010
Three big Washington, D.C., firms, Covington & Burling, McGuireWoods and Wiley Rein, saw their revenue rise last year. While Steptoe & Johnson suffered from the weak economy, according to sibling publication, The Blog of Legal Times.

UBS Tax Case Still Twisting And Turning

Posted on February 26, 2010
The latest developments: The Swiss government wants UBS to reimburse it for outside legal costs, the country's parliament is considering legislation that would approve a tax settlement with U.S. authorities, and Switzerland's finance minister has announced that banks in the country can no longer accept untaxed money from abroad.

Ropes, Stradling on $900M Leveraged Buyout (Yes, an LBO!)

Posted on February 26, 2010
Could this be a sign that the economy is--very slowly--recovering?

BREAKING: NALP Backs Down From Offer Prohibition Plan

Posted on February 26, 2010
The changes to NALP's recruiting guidelines are much more limited than previously proposed.

Memo to Firm Leaders: Don't Go Overboard

Posted on February 26, 2010
The legal industry is engaged in a kind of reverse Titanic approach to the trouble it faces, disproportionately tossing its ?women and children? first. That?s truly a recipe for disaster.

Lateral Recruiting in London Plummets

Posted on February 26, 2010
Lacking a huge portable book of business? Don't bother trying to lateral to a U.S. firm's London offices.

More Madoff Lawsuits!

Posted on February 25, 2010
A top lieutenant is arrested, and angry investors sue the organization that was set up to protect them.

Seyfarth Unveils More Details About Merit-Based Plan

Posted on February 25, 2010
The pay scheme--which will be phased in over the course of 2010--will place associates in three distinct tiers roughly equivalent to the traditional junior, midlevel, and senior associate positions at large law firms. Lawyers will be promoted based on their mastery of 11 "core competencies...

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