Legal News

Master of the Universe Turns to Proskauer?s Robert Cleary

By Dan Slater

As expected, white collar litigators are starting their engines.

Late Friday, news broke that at least a dozen current and former Lehman execs, including Chairman and CEO Dick Fuld and former CFO Erin Callan, have been subpoenaed as part of a federal probe into whether the bank misled investors before collapsing last month.

Earlier this month, Fuld testified at a congressional hearing that he didn’t deceive investors and others about the firm’s financial health. Fuld hired Allen Overy’s Patricia Hynes (Queens College, Fordham law), who was an AUSA in the Southern District of New York from 1967 to 1982 and was elected the NYC Bar Association president late last year. Hynes also spent over two decades as a name partner at the plaintiffs’ firm formerly known as Milberg Weiss Bershad Hynes & Lerach.

As for Callan (pictured, right), a former Simpson Thacher tax lawyer (Harvard, NYU law) who left Simpson for Lehman in 1995, the AmLaw Daily reports that she’s turned to Proskauer Rose’s Robert Cleary (pictured, left; William & Mary, Fordham law). A former U.S. Attorney in the Southern District of Illinois and the District of New Jersey, and a former AUSA in the Southern District of New York, one of Cleary’s career-defining moments was his role leading the Unabomber’s prosecution team in the 90’s.

Full post as published by Law Blog - WSJ.com on October 20, 2008 (boomark / email).