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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

White & Case Boosts Tokyo Office

Posted on February 14, 2011
White & Case has boosted its Tokyo office with two partners recruited from Paul, Hastings, Janofsky & Walker.

Davis Polk, Wilson Sonsini Make Music Advising Pandora on IPO Plan

Posted on February 14, 2011
The firms are advising on a $100 million initial public offering planned by Pandora Media, while Skadden and Cravath land lead roles on a proposed public listing by microchip maker Freescale.

The Am Law 100: Revenue Down, PPP Up at O'Melveny in 2010

Posted on February 14, 2011
Gross revenue dropped 5 percent in 2010, while average profits per equity partner rose by about the same percentage. The latter was due, in part, to a continued push to customize staffing models and billing arrangements with clients, according to firm chairman Arthur Culvahouse, Jr...

S&C, Akin Gump on EchoStar's Takeover of Hughes

Posted on February 14, 2011
The satellite services company said it will pay $1.3 billion for Hughes in an effort to expand its broadband offerings.

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Willkie and Covington Defending Former IndyMac Executives Against SEC Charges

Posted on February 14, 2011
The two men are fighting charges that they gave an overly rosy picture of IndyMac's condition before it collapsed in 2008. Lawyers for the two call the allegations weak and meritless. A third defendant has settled with the Securities and Exchange Commission.

The Careerist: Stephen Susman on Hiring

Posted on February 13, 2011
What does the litigation powerhouse look for in prospective hires? Supreme Court clerks, brilliance, and theatrical presence (it helps in the courtroom) are key.

Dealmaker of the Week: Andrew Hutchings of Freshfields Bruckhaus Deringer

Posted on February 11, 2011
Hutchings and a team from Freshfields advised the London Stock Exchange on its merger agreement with the owner of the Toronto Stock Exchange.

The Am Law 100: K&L Gates Sees Profits, Revenue Rise

Posted on February 11, 2011
The increase in gross revenue--$1.06 billion in 2010--was due to an uptick in litigation, intellectual property litigation, regulatory work, and especially real estate, said firm chairman Peter Kalis.

Deal Update: J&J deal for Crucell Moves Forward

Posted on February 11, 2011
The health care giant is getting closer to finalizing a $2.4 billion bid for the 82 percent of Crucell shares that it doesn't already own. Plus: updates on Genzyme and Sanofi-Aventis and more deal news.

Cuomo Tapped to Mediate Mets-Madoff Dispute

Posted on February 11, 2011
The ex-governor and Willkie Farr counsel will referee after Madoff victims' trustee files a suit against New York Mets owners seeking $1 billion.

The Am Law 100: Rise in Revenue, Profits for King & Spalding

Posted on February 11, 2011
Revenue increased 6 percent and profits per partner jumped almost 18 percent in 2010.

Game On: Video Game Bar Association Launches

Posted on February 11, 2011
As the industry has grown, a cadre of litigators, intellectual property specialists, and deal lawyers have come to specialize in handling legal matters for video game companies and developers. Now, those lawyers have a bar association of their very own.

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

Posted on February 11, 2011
The former legal counsel to Michigan governor joins Dykema Gossett; Nixon Peabody adds a white-collar litigator in New York; and Foley & Lardner expands its automotive industry team. The Churn is constant. Please send all announcements and news releases to thehcurn@alm...

Bracewell Powers Up With Kinder Morgan IPO

Posted on February 11, 2011
Bracewell & Giuliani is advising Houston-based Kinder Morgan on the largest U.S. private-equity backed initial public offering and biggest energy listing since 1998. The oil and gas pipeline company priced its $2.9 billion IPO Friday.

The $5 Million Man

Posted on February 11, 2011
On Tuesday, The Wall Street Journal reported that litigator Jamie Wareham, just hired by DLA Piper, "will make about $5 million a year, a significant raise from his pay at Paul Hastings...where he has been one of the highest paid partners." When is a lawyer worth that kind of money?

Second Circuit Revives Blackstone IPO Class Action

Posted on February 11, 2011
An appellate panel says the lower court was wrong to conclude Blackstone's alleged failure to disclose its exposure to subprime mortgages wasn't material.

Osler, Burnet, Clifford Chance on $5.4B PetroChina Deal

Posted on February 10, 2011
PetroChina's $5.4 billion investment in natural gas producer Encana biggest would be the biggest Chinese investment ever in Canada's energy sector.?

King & Spalding Adds 14-Attorney Litigation Team

Posted on February 10, 2011
The team--three partners, four counsel and seven associates--has intimate knowledge of several King & Spalding clients.

The Careerist: Harvard Law Review's New Editor

Posted on February 10, 2011
Mitch Reich, a 2L who has been elected president of Harvard Law Review, is the first openly gay person to lead the journal in its 125-year history.

Four Firms Take Lead on NYSE Euronext/Deutsche B�rse Merger Talks

Posted on February 10, 2011
Some are calling it a lawyer's fee fantasy come true, but for Cleary Gottlieb, Wachtell Lipton, Linklaters, and Stibbe, merger talks between the New York Stock Exchange and the Deutsche B�rse are a reality.

On Partner Pay and Group Lateral Moves

Posted on February 10, 2011
Partner compensation and group lateral moves have been in the news lately. We caught up with Ward Bower, a principal at legal consulting firm Altman Weil, to discuss the activity.

The Am Law 100: Bump Up in Revenue at Bracewell & Giuliani

Posted on February 10, 2011
Gross revenue improved by 1.3 percent for the Houston-based firm in 2010, while net income was flat.

Locke Lord Retained in Pakistan; Patton Boggs Disputes Conflict Allegations

Posted on February 10, 2011
The family of longtime U.S. ally, Pakistani president Asif Ali Zardari, has hired Locke Lord Bissell & Liddell, while Patton Boggs says its past work for Egypt doesn't constitute a conflict for foreign affairs advisor Frank Wisner, who was acting as an emissary in Egypt for the Obama administration.

J.P. Morgan Seeks to Move Madoff Fraud Suit

Posted on February 10, 2011
JPMorgan and HSBC have moved to transfer the trustee's inflammatory suits to federal district court, accusing Picard of overreaching his authority with disguised class actions.

Arbitrators Order Ecuador to Suspend Enforcement of Any Judgment Against Chevron

Posted on February 10, 2011
Arbitrators presiding over the investment treaty arbitration filed by Chevron against Ecuador have ordered Ecuador to "take all measures at its disposal to suspend or cause to be suspended the enforcement or recognition within and without Ecuador of any judgment" against Chevron, pending further arbitral proceedings.

Put It On Their Tab: Law Firms Suing Over Unpaid Fees

Posted on February 09, 2011
When it comes to collecting unpaid legal fees, firms must consider several factors before filing a lawsuit.

The Careerist: Bonuses? Yes. Future? None.

Posted on February 09, 2011
Big firms are lavishing associates with fat bonuses again, while, at the same time, signaling that their chances for partnership are virtually nil. Where's the logic in that?

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

Posted on February 09, 2011
Foley & Lardner adds a Latin America practice chair; Winston & Strawn brings in two litigation partners in D.C.; and Perkins Coie welcomes two energy and environment attorneys. The Churn is constant. Please send all announcements and news releases to thechurn@alm...

The Am Law 100: Revenue Flat, Profits Down for Covington

Posted on February 09, 2011
Gross revenue dipped by less than 1 percent in 2010 to $582.5 million, while partner profits dropped 3.8 percent to $1.16 million.

Bad January Hurts Florida's Yoss LLP

Posted on February 09, 2011
After the law license of former cofounding partner Henry Adorno was suspended last year, the Florida firm that once bore his name--Yoss LLP--is struggling to get by.

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