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: New York Supreme Court Criminal Term Library

LAW.COM Newswire Highlights October 2, 2008

By David Badertscher, PLL

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If you are already an online subscriber to the LAW.COM service you should be able to click on any of the links below, sign in, and access the full text of all articles listed. A subscription to LAW.COM is needed for online access to this service. The 2008 Global 100: The English Advantage The American Lawyer After shedding partners, doubling-down their bets on foreign offices and tightening management controls, the global Magic Circle practices are outdoing many of their U.S.-based rivals. The irony is that the English firms have succeeded by following the lesson of their American peers: They've hedged their bets. For U.S. firms, that's often meant a big dose of litigation and bankruptcy work to balance a corporate shortfall. For the British, the strategy has been geographic: spreading risk across continents. McDermott, Client Sanctioned $4.3 Million The Recorder McDermott, Will & Emery and client Medtronic Inc. must pay $4.3 million in attorney fees as punishment for alleged "abuse of advocacy" in a patent fight between Medtronic and BrainLAB, a Colorado federal judge ordered Tuesday. Both Medtronic and McDermott are appealing. McDermott particularly objected to paying attorney fees to Orrick, Herrington & Sutcliffe, which provided a second opinion on the case to BrainLAB's primary lawyers at Renner, Otto, Boisselle & Sklar. Epstein Becker to Settle Suit With Recruiter The American Lawyer Epstein Becker & Green says it has agreed in principle to settle a lawsuit with a recruiting firm that claimed it was owed money for nabbing five health care lawyers from Powell Goldstein. The lawsuit, filed two weeks ago in Georgia, was the latest recruiter pay dispute to make its way to court. A Manhattan judge in April threw out a recruiter's suit against Akin Gump Strauss Hauer & Feld -- and in May, Blank Rome defeated a similar case. More Stories Big Deals Go Belly Up Amid Market Crisis The American Lawyer Whether it's M&A, real estate, or project finance and infrastructure, some big deals have collapsed this week due to concerns about the increasingly unruly capital markets. How big? For starters, think $12.8 billion. 2nd Circuit: Analysts Bound by Same Liability Presumption as Issuers for 'Fraud on Market' New York Law Journal The 2nd Circuit has ruled that research analysts may be bound by the same presumption of liability applied to stock issuers for misrepresentations under the fraud-on-the-market theory. The court, however, vacated class certification in the case alleging bogus research reports by influential Salomon Smith Barney analyst Jack Grubman. The presumption, as set forth by the Supreme Court, is that individual investors rely on a defendant's publicly made material misrepresentation about stocks. Supreme Court Denies Rehearing in Child Rape Case Legal Times The Supreme Court on Wednesday, by a vote of 7-2, declined to rehear its controversial June ruling that rejected the death penalty for child rapists. Justices Clarence Thomas and Samuel Alito Jr. dissented, and Justice Antonin Scalia, joined by Chief Justice John Roberts Jr., issued a bitter statement that joins the majority only because, Scalia said, "the views of the American people on the death penalty for child rape were, to tell the truth, irrelevant to the majority's opinion in the case." Federal Judge Certifies Two Nationwide Classes in Wholesale Drug Pricing Case The National Law Journal A federal judge in Boston certified two nationwide classes and set the stage for two more trials in the massive, multidistrict wholesale drug pricing case against AstraZeneca and Bristol-Myers Squibb Co. The case alleges that the companies published fraudulently inflated average wholesale drug prices, which led consumers and insurance companies to pay higher prices for branded and generic drugs used to treat serious illnesses like cancer and HIV. Stanford Law Grad Faces Tax Bite for Alleged Work as Prostitute The Associated Press A Stanford law school graduate is facing tax evasion charges over thousands of dollars she was allegedly paid while working as a prostitute in 2003. Since then, Cristina Schultz has married David Warthen, co-founder of the online search engine Ask Jeeves, now known as Ask.com. Atlanta Lawyers Win Gaming Machine Maker a Shot at $287 Million Fulton County Daily Report A federal appeals court has opened the door for a gaming machine manufacturer to seek more than $287 million from a global Internet gambling company, saying that the machine maker's original award of $2.6 million did not represent the total eligible for the Internet company's forfeiture in a trademark suit. A team of Atlanta lawyers from Kilpatrick Stockton represented WMS Gaming against Gibraltar-based PartyGaming PLC, which did not show up to contest the case, claiming the U.S. has no jurisdiction. Standing to Sue LLC Ruled Limited to Current Owners New York Law Journal Relying on two precedents from the New York Court of Appeals that were written more than a century apart, a New York state judge has decided that a person must be a current member of a limited liability corporation to have standing to bring a derivative claim against its officers. The judge rejected the plaintiff's argument that while he had withdrawn from the LLC by the time he filed suit, he had not been paid in full for his share and, thus, retained a "possessory interest" in his LLC membership. Banks Feel the Texas Heat Over Chemical Companies' Merger Deal The National Law Journal A day after the Delaware Court of Chancery rejected an attempt by Hexion Specialty Chemicals and private equity firm Apollo Management to back out of acquiring chemical maker Huntsman Corp., a Texas state court issued a temporary restraining order barring Credit Suisse Securities and Deutsche Bank Securities from delaying or preventing financing of the deal. The Chancery Court found that both Hexion and Huntsman "are solvent, profitable businesses" and that Hexion had breached the merger agreement. King & Spalding Takes Two From Sidley The Recorder Two partners from Sidley Austin joined King & Spalding's Silicon Valley office Wednesday. The Atlanta firm has been expanding in two Northern California locations since the start of the year, and the addition of Timothy Scott, formerly Sidley's San Francisco litigation chair, and Geoffrey Ezgar brings the number of partners in those offices to 10, according to the firm. Scott said the pair's initial focus will be adding to the securities and commercial litigation practice. Edwards Angell Enters China Legal Market The National Law Journal The 600-lawyer Boston-based Edwards Angell Palmer & Dodge is entering the Chinese legal market through an association with the newly formed firm Lister Swartz, comprised of two longtime Hong Kong attorneys. Martin Lister, an Edwards Angell partner with more than 20 years in practice in London and Asia, and Kristi L. Swartz, a Hong Kong attorney who operated for a dozen years as the sole principal of Swartz Solicitors, have formed Lister Swartz. The two attorneys specialize in corporate and securities law. Mobile Computing Holds Compliance Risks New York Law Journal As those attuned to electronic discovery attest, companies must ensure compliance with document retention obligations and litigation demands. The challenge mounts when documents are scattered across various media, such as laptops, iPods and flash drives, in various locations. Visit Legal Technology Corporations Responding to Shareholder Pressure on Governance Practices, Survey Finds The National Law Journal U.S. public companies are increasingly responding to shareholder pressure to adopt good corporate governance practices, according to Shearman & Sterling's sixth annual Corporate Governance Survey, which also includes an analysis of director and executive compensation. Shareholder pressure for more executive compensation transparency has prompted 65 companies to disclose executives' performance targets for incentive compensation, compared with 45 companies last year. Visit In-House Counsel How Associates Can Stay Safe in Uncertain Times Legal Times The legal and business worlds are intertwined and interdependent, and a law firm's fortunes can rise or fall depending upon the clients it serves and its overall business model. That means career paths may be affected by whether law firms can adapt to marketplace changes. Jenner & Block partner Eric Jackson advises that associates take steps to understand the economic underpinnings of their law firm and develop concrete professional development strategies to flourish in this constantly evolving landscape. Visit the Career Center Law.com 120 Broadway, 5th Floor, New York, NY 10271-1101 (877) 256-CIRC Customer Service Phone: (877) 256-CIRC

Full post as published by New York Supreme Court Criminal Term Library on October 02, 2008 (boomark / email).