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Thursday Legal News Link Roundup

By Carolyn Elefant

-- As if it weren't bad enough that Stroock & Stroock & Lavan's typo in a contract for a developer may cost its client $100 million, it now seems that Stroock's malpractice insurance may not cover the damages. [New York Post via Above the Law] -- Will the blawgosphere's pervasive criticism of the 2nd Circuit's decision in Dorozhko v. SEC spur further review? In Dorozhko, the 2nd Circuit held that the SEC can proceed with fraud charges against a hacker for engaging in insider trading even though he owed no fiduciary duty to the company whose shares he traded. [For a roundup of the criticisms, see The Am Law Litigation Daily] -- Interesting factoid from Rees Morrison at Law Department Management: Just a scant 8 to 12 percent of lawyers within a firm are responsible for client development efforts. -- File this one under stupid lawyer tricks: A lawyer was arrested for trying to smuggle cocaine concealed in a one-dollar bill into an Allegheny County Court house. [Pittsburgh Tribune-Review].

Full post as published by Legal Blog Watch on July 30, 2009 (boomark / email).