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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

Ex-Ropes & Gray Associate Pleads Guilty to Insider Trading

Posted on January 14, 2011
Arthur Cutillo, 34, a former Ropes & Gray IP associate who had been charged in the Galleon Group insider-tradingcase, pleaded guilty on Friday to insider trading and conspiracy charges.

Law School Deception

Posted on January 14, 2011
The legal profession needs visionaries who are willing to resist perpetuating the world in which debt-laden law school graduates are becoming the 21st century equivalent of indentured servants.

New Year a Blast for M&A; Will the Party Last?

Posted on January 14, 2011
The first ten days of 2011 saw more than $80 billion in deals hit the books, as confidence and cash surpluses inspired a shopping spree.

The Churn.Gov: Lateral Moves from Fed to Firm

Posted on January 14, 2011
More government-related moves include two senators joining Arent Fox, and the attorney general of Michigan and Georgia heading to Dykema and McKenna Long, respectively. The Churn is constant. Please send all announcements and news releases to thechurn@alm...

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Litigator of the Week: Marc Kasowitz of Kasowitz, Benson, Torres & Friedman

Posted on January 14, 2011
Kasowitz this week persuaded a New York state appeals court to toss the fraud case 18 global banks brought against his client, the monoline insurer MBIA.

NALP: More Lawyers on Part-Time Schedule

Posted on January 13, 2011
More lawyers are working reduced hours, and it's not just women.

Bankruptcy Judge Approves Massive Madoff Settlement

Posted on January 13, 2011
U.S. bankruptcy judge Burton Lifland has approved a $7.2 billion settlement by the estate of Jeffrey Picower with the U.S. attorney's office in Manhattan and the liquidating trustee for Bernard L. Madoff Investment Securities.

The Careerist: The Last Days of the LSAT?

Posted on January 13, 2011
Say it ain't so.

GE Pays $520 Million for Lineage Power; Weil, Latham Advise

Posted on January 13, 2011
General Electric Co., which spent more than $4 billion on Dresser Inc. and Wellstream Holdings last fall, has struck a deal to acquire Lineage Power Holdings for $520 million.

Another Canadian Mining Merger Nets Work For Three Top Firms

Posted on January 13, 2011
Inmet Mining and Lundin Mining announced on Thursday they would combine operations in a $9 billion merger of equals to create a new company called Symterra.

AP Settles with Artist Shepard Fairey

Posted on January 13, 2011
The deal comes 15 months after the artist admitted that he lied about which AP image he used as the basis for his "Hope" portrait of President Barack Obama. Reading between the lines of the announcement, the settlement appears to be a near-complete win for the AP and its lawyers at Kirkland & Ellis...

Baker Botts, Bingham McCutchen Advising on Marathon Oil Split

Posted on January 13, 2011
The two firms are advising Houston-based Marathon Oil, which on Thursday announced it would spin-off its downstream refinery and pipeline operations to create two independent companies.

John Quinn Isn't Buying Howrey's Explanation for Its Partner Losses

Posted on January 13, 2011
Quinn, quite the provocateur lately via his Twitter feed, reacted to comments by Howrey managing partner Robert Ruyak in The Lawyer explaining the departure of 60 partners from his firm this past year.

Closing the Loop on Former Fox Rothschild Partner Kenneth Denti

Posted on January 12, 2011
The New Jersey Supreme Court has disbarred Kenneth Denti, a former partner at Fox Rothschild and Pennsylvania firm Margolis Edelstein, for falsifying billing records.

The Careerist: Doing the Math

Posted on January 12, 2011
Accountants are good with numbers. So good that they've reportedly figured out how to balance work with the rest of their lives. Could their approach work for lawyers?

Schwab Settles with SEC for $119 Million on Bond Fund Case

Posted on January 12, 2011
The brokerage--advised by Quinn Emmanuel--was facing charges of misleading investors about the risks associated with its YieldPlus bond fund.

Debevoise, Freshfields on AIG's $2.16 Billion Sale of Taiwanese Unit

Posted on January 12, 2011
After an earlier deal was nixed by Taiwanese insurance regulators, on Wednesday the U.S. insurer announced a new agreement to sell the unit, Nan Shan Life Insurance, to a Taiwanese consortium.

Simpson Thacher Handling ITT Split

Posted on January 12, 2011
The firm is advising longtime client ITT Corporation as the White Plains, N.Y.-based conglomerate announces it will separate into three independent public companies as part of a restructuring plan.

Jones Day, Trio of Canadian Firms Advise on $5 Billion Mining Merger

Posted on January 12, 2011
Cliffs Natural Resources has agreed to pay nearly $5 billion in cash for Consolidated Thompson Iron Mines in an effort to bolster its presence in Canada.

SEC Investigating Allegations that Khuzami Caved to Pressure from Citigroup, Spared Individual Defendants in Bank's Controversial $75 Million Settlement

Posted on January 12, 2011
An anonymous tipster with apparent inside knowledge of the agency's negotiations with Citi raised the allegations in an unsigned fax to Sen. Charles Grassley.

Mattel v. MGA: Welcome Back to the Dollhouse

Posted on January 12, 2011
The long-running battle between toy makers Mattel, Inc. and MGA Entertainment over a line of pouty-lipped dolls continues unabated, and enters a new phase Thursday with the start of a retrial. Here, a recap of the key points in the nearly seven-year litigation.

Australian Firms Evacuate Offices As Mass Floods Hit Brisbane

Posted on January 11, 2011
Law firm offices declared "disaster zones" as a new flood surge was expected to hit Brisbane's city center.

"Milkshake Murder" Case Reopens in Hong Kong

Posted on January 11, 2011
American expatriate Nancy Kissel has again pleaded not guilty to charges that, in 2003, she bludgeoned her husband, Merrill Lynch investment banker Robert Kissel, to death after serving him a sedative-laced milkshake.

Jones Day Triples Down in The Kingdom

Posted on January 11, 2011
The firm is headed to Saudi Arabia with new offices in Jeddah, Khobar, and Riyadh in association with local firm Al Sulaim & Al Awaji, which is headed by a former Jones Day partner.

Skadden Helps Chinese Chemical Company Acquire Orkla Unit

Posted on January 11, 2011
China National BlueStar is paying $2 billion for the silicon, carbon, and solar energy arm of the Oslo-based conglomerate Orkla. Two leading Norwegian firms also got in on the action.

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

Posted on January 11, 2011
Just two weeks into the new year, the lateral market has been very active. This week, several litigators--especially ones in the IP arena--have found their way to new firms. Among them: Bert Deixler, the former managing partner of Proskauer's Los Angeles office, who joins Kendall Brill & Klieger...

Report: Corporate Bankruptcies Fell in 2010

Posted on January 11, 2011
Chapter 7 and Chapter 11 filings by public companies fell dramatically in 2010, according to numbers from BankruptcyData.com. The two firms with the most cases on the list of the year's 20 largest filings--Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis.