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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

The Am Law 100: Quinn Emanuel Profits Per Partner Top $3.6 Million

Posted on January 21, 2011
After a very good year in 2010, Quinn Emanuel isn't yet in Wachtell's profits per partner range, but it's narrowing the gap.

Clifford Chance and AZB Call It Off

Posted on January 21, 2011
The Magic Circle firm and India's AZB & Partners have ended a "best friends" referral agreement, the Mumbai-based Legally India blog reports.

Quarles & Brady Opens Shanghai Office

Posted on January 21, 2011
The Milwaukee-based firm's move into Asia represents its first foray into the international market.

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

Posted on January 20, 2011
Anderson Kill launches an office in Stamford; Hank Greenberg joins Greenberg Traurig; and Wilmer recruits a special counsel from the U.S. Air Force. The Churn is constant. Please send all announcements and news releases to thechurn@alm.com.

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Paul Weiss Advising on Potential Arby's Sale

Posted on January 20, 2011
The firm has been retained by the Wendy's/Arby's Group, a publicly traded Atlanta-based company that is exploring the sale of the Arby's restaurant chain. The news comes on the heels of YUM! Brands' announcement that it is putting its Long John Silver's and A&W All-American Food eateries on the block...

Cadwalader Brings In Nine-Partner Energy Team, Plans Houston Office

Posted on January 20, 2011
The head of McDermott Will & Emery's energy and commodities advisory practice and the global cohead of the firm's M&A group are set to join Cadwalader, Wickersham & Taft, along with seven colleagues from McDermott's Washington, D...

Howrey Antitrust Co-Head Leaving Firm; Salt Lake City Office to Close

Posted on January 20, 2011
Trevor Soames, the cochair of Howrey's worldwide antitrust practice, has announced plans to leave the firm. Separately, the firm confirmed on Thursday that it will close its Salt Lake City office in February.

The Am Law 100: Mayer Brown Sees Slight Drop in Revenue in 2010

Posted on January 20, 2011
Gross revenue fell 1 percent to $1.107 billion in 2010 while profits per equity partner inched up 1 percent to $1.070 million.

Am Law Firms Gear Up For IPO Bonanza in 2011

Posted on January 19, 2011
With AIG apparently primed for a massive stock offering and global IPO volume at its highest level in three years in 2010, The Am Law Daily takes a look at the firms who scored the work on the big listings to close out 2010, as well as those that aim to get 2011 of to a strong start.

Obituary: Jerold Solovy, 80, Jenner & Block Chairman Emeritus

Posted on January 19, 2011
Jerold Solovy, a top appellate and trial lawyer who spent more than 50 years with Jenner, served as the firm's chairman from 1990 to 2007.

The Churn: Buying in Bulk

Posted on January 19, 2011
Gibson, Dunn lands five former Vinson & Elkins litigation and corporate partners; DLA Piper adds a group led by Epstein Becker's national real estate head; and Dewey welcomes a pair of energy partners in Houston. The Churn is constant. Please send all announcements and news releases to thechurn@alm...

Galleon Defendant Chiesi Pleads Guilty to Fraud Counts

Posted on January 19, 2011
Another domino in the Galleon Group insider trading case fell Wednesday as Danielle Chiesi, a former hedge fund consultant represented by Kelley Drye attorney Alan Kaufman, pleaded guilty to three counts of conspiracy to commit securities fraud before a Manhattan federal district court judge.

The Careerist: The Associate Review--Overdone?

Posted on January 19, 2011
Law firms are all worked up about core competencies these days. But is there such a thing as too many competencies?

Strongly Worded Openings in Mattel v. MGA Retrial

Posted on January 19, 2011
Sequels rarely live up to the original, but if the opening statements in the Mattel v. MGA retrial are any indication, the proceedings this time around could be just as heated as the first time.

Deal Update: Comcast, J. Crew, and Sanofi Aventis

Posted on January 19, 2011
With the FCC and DOJ approving its takeover of NBC Universal--and Davis Polk and Weil serving as counsel--Comcast is set to become the first cable operator to control a major broadcast network. Plus, the latest on a preppy clothier going private and a French drugmaker raising the stakes in a biotech bid...

NJ Lawyers Cry Foul at Online Directory's Ratings Downgrades

Posted on January 19, 2011
Avvo.com's recent downward adjustment to its ratings for about 3 percent of New Jersey's 36,000 practicing attorneys has some of the affected unhappy about the new scores.

Weil, Dewey, Covington Take Roles in Collusion Case Pitting Players Against NFL

Posted on January 19, 2011
Three Am Law 100 firms with experience in the National Football League's labor wars got the call in a collusion case recently filed with a special master by the NFL players' union, which aims to get the upper hand in collective bargaining negotiations.

Gibson Dunn Hires Four Partners from Vinson & Elkins

Posted on January 18, 2011
Jeffrey Chapman, an M&A partner and member of the management committee at Vinson & Elkins, is leaving for Gibson, Dunn & Crutcher's Dallas office, along with litigation and regulatory head William Dawson, media practice leader Michael Raiff, and corporate partner Robert Little...

Dewey's Magnificent Seven

Posted on January 18, 2011
The firm announced seven high-profile hires on Tuesday from Howrey, Baker & McKenzie, Dechert, and Sullivan & Cromwell.

Fried Frank, Simpson Thacher Lead on Cargill, Mosaic Split

Posted on January 18, 2011
Cargill's fertilizer unit will spin off and eventually go public in a deal being valued at $24 billion. Fried Frank advised Cargill, while Simpson Thacher was counsel to a special committee of Mosaic's board, and Cargill's charitable trusts were represented by Loeb & Loeb...

Howrey Vice Chairman Heads to Dewey & LeBoeuf

Posted on January 18, 2011
Henry Bunsow, until recently vice chairman of Howrey and managing partner of the firm's Northern California offices, is moving to Dewey along with fellow IP litigators Denise De Mory and Brian Smith. The departures are the latest in a wave that has seen more than 60 partners leave Howrey in the past year.

S&C, Willkie Lead as Fairholme Cashes Out General Growth Stake

Posted on January 18, 2011
After helping the mall operator make its way out of bankruptcy last year, the Fairholme Fund announced Tuesday that it is selling its entire stake in General Growth Properties, Inc., to Brookfield Asset Management Inc. for $1.7 billion.

Weil in for Advent on RBS Health Care Unit Buy

Posted on January 18, 2011
The firm is representing Advent International on its $1.5 billion acquisition of The Priory Group, a chain of British rehabilitation and mental health care services centers owned by the Royal Bank of Scotland Group.

The Careerist: Baker Botts Still Hunting for 1Ls

Posted on January 18, 2011
Against the backdrop of a hiring season that's quiet but not dead, the Houston-based firm's hiring partner, Cristina Rodriguez, gives us the lowdown about what Baker Botts looks for in its law school hires.

Running to Stay in Place: Study Sees More Law Firm Cost-Cutting Ahead

Posted on January 18, 2011
In the wake of nearly two years of declines in demand for legal services, the 2011 Client Advisory released Friday by Hildbrandt Baker Robbins and Citigroup predicts that law firms will either find creative ways to trim expenses this year or face cuts in their equity partner ranks...

Freshfields, Linklaters Lead on $16 Billion BP/Rosneft Joint Venture

Posted on January 18, 2011
The two Magic Circle firms have taken lead advising roles on a strategic partnership between British oil giant BP and the Russian government-owned energy colossus Rosneft.

Four Firms Advising on $1 Billion U.S. Banking Deal

Posted on January 18, 2011
Shearman & Sterling, DLA Piper, Locke Lord, and Wachtell Lipton are working on a $1.03 billion all-share transaction that will see Dallas-based Comerica take control of Houston-based Sterling Bancshares, owner of Sterling Bank.