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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

SIPC: Madoff Work Yields Big Bucks for Baker & Hostetler

Posted on February 17, 2011
According to a letter sent from the Securities Investor Protection Corporation to New Jersey congressman Scott Garrett last month, the firm had by that point received $128 million in fees for its work recovering funds for victims of Bernard L. Madoff Investment Securities.

The Careerist: Dress for Success

Posted on February 17, 2011
Dressing professionally is one thing. But one style and fashion matter to you, how do you incorporate that into your work attire?

Accused Ponzi Schemer Stanford Sues Prosecutors, FBI Agents, SEC Lawyers

Posted on February 17, 2011
Held without bail since his 2009 indictment on fraud charges, R. Allen Stanford has filed a $7.2 billion lawsuit alleging that various government employees and agents have "engaged in unfair, abusive law enforcement methods and tactics" and are responsible for the missing money at the heart of the case against him...

The Bankruptcy Files: Beyond Borders

Posted on February 17, 2011
The bankruptcy filing by Borders Group grabbed headlines this week. Am Law 200 firms are lining up for plenty of other Chapter 11 cases.

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Cleary Tapped by Family Dollar in Trian Group's $7B Unsolicited Offer

Posted on February 17, 2011
The low-cost retailer received a leveraged buyout offer from a major hedge fund shareholder. But with financing not yet in place, other funds are expected to jump into the fray.

The Am Law 100: It's Back to 2008 at Latham & Watkins

Posted on February 17, 2011
With strong financials across the board, California's flag-bearer climbs its way back to 2008 revenue levels, but falls well short of its 2007 peak.

The Lateral: Thomas Wiegand Moves Away from the Billable Hour

Posted on February 16, 2011
The 20-year Winston & Strawn veteran is joining MoloLamken, the (now) 12-lawyer litigation boutique launched 15 months ago by alums of Shearman & Sterling and Baker Botts that favors alternative fee structures.

The Churn.Gov: Lateral Moves from Public Sector to Private

Posted on February 16, 2011
The former inspector general for the City of Chicago is now a partner in Sidley Austin's litigation group. The Churn is constant. Please send all announcements and news releases to thechurn@alm.com.

Skadden, LeClairRyan Looking Out for Trump on Potential Estate Buy

Posted on February 16, 2011
Whether he's considering a 2012 presidential campaign or mulling an offer to "save" the New York Mets, Donald Trump never ceases to surprise. And now, The Washington Post reports, The Donald is eyeing another potentially interesting move: buying the Virginia estate of late media magnate John Kluge.

The Am Law 100: The World is Flat at White & Case

Posted on February 16, 2011
The most global of New York law firms reports a 2 percent decline in revenues for 2010, but business was basically flat when accounting for a weak euro.

Five Firms Advising on $2.6 Billion S�d-Chemie Sale

Posted on February 16, 2011
Swiss specialty chemicals manufacturer Clariant announced a $2.6 billion acquisition of German catalyst and absorbent maker S�d-Chemie on Wednesday. Two Am Law 100 firms and three of their European counterparts have landed key legal advisory roles on the deal...

Genzyme, Sanofi Finally Reach Accord on $20 Billion Deal

Posted on February 16, 2011
Negotiations that began in May 2010 have ended in an agreement that represents the second-largest biotechnology deal in history. Weil, Ropes & Gray, and Wachtell advised.

Jones Day Snags Nine More Howrey Partners; Ropes Eyeing IP Litigator

Posted on February 16, 2011
One day after the firm lost a handful of partners to Hogan Lovells, seven construction partners from Howrey's San Francisco office and two IP litigators in Irvine, Calif., are leaving the firm for Jones Day. Another IP litigator, James Batchelder, is reportedly headed for Ropes & Gray...

Latest Chapter: Kasowitz on Hand as Borders Begins Chapter 11

Posted on February 16, 2011
Following nearly two years of ongoing restructuring efforts, Borders Group finally filed for bankruptcy on Wednesday. The nation's second-largest book retailer has turned to Kasowitz, Benson, Torres & Friedman to help it reorganize in Chapter 11...

Clifford Chance Expands in Merger with Australian Firms

Posted on February 16, 2011
In a move touted as part of a larger Asia strategy, Clifford Chance has announced plans to expand into Australia through the acquisition of two boutique corporate firms.

Delaware Vice-Chancellor Blasts Barclays, Halts $5.3 Billion Del Monte Buyout

Posted on February 15, 2011
Barclays stood to earn double fees as the financial adviser to Del Monte and the source of financing for the private equity consortium that planned to buy the company. But there were a few things that the bank neglected to tell Del Monte's board along the way.

Simpson Thacher Tapped for $940 Million Real Estate Deal

Posted on February 15, 2011
Real estate services company CB Richard Ellis plans to acquire the real estate investment management business of ING Group for $940 million in cash.

Howrey IP Rainmaker Heads to Hogan Lovells; Other Partners Also Depart

Posted on February 15, 2011
K.T. "Sunny" Cherian, one of Howrey's top rainmakers in San Francisco, is headed to Hogan Lovells along with four other Howrey partners. Another Howrey IP litigator heads to Pillsbury Winthrop Shaw Pittman.

The Careerist: Your Mentor's Just Not That Into You

Posted on February 15, 2011
There seems to be mentor mania these days--the belief that your career is doomed without some sort of guru by your side. But what if your mentor's not really doing anything for you?

The Churn: Buying in Bulk

Posted on February 15, 2011
McGuireWoods welcomes two partners who will cochair a new political law group; three litigators join Arnold & Porter in San Francisco; and a group of seven lawyers head to McCarter & English. The Churn is constant. Please send all announcements and news releases to thechurn@alm...

With In-House Budgets Strapped, Can Firms Still Profit?

Posted on February 15, 2011
In a three-part series, Am Law Daily sibling publication Corporate Counsel explores how firms can attract clients by offering the efficiently performed high-quality work that fits into their corporate budgets.

NYSE Work if You Can Get It: Seven Firms on Exchange Merger

Posted on February 15, 2011
The New York Stock Exchange's operator and Germany's Deutsche B�rse have formally announced their $10 billion merger. The fee engines of seven law firms already started on a deal expected to close before the end of 2011.

Groundbreaking Canadian Class Action v. IMAX Corp. Set for Trial

Posted on February 15, 2011
Canada's first U.S.-style securities class action may be headed to trial after a judge in Ontario denied IMAX permission to appeal the lower court's certification decision.

Hogan Lovells, A&O, and Herbert Smith on $2.8 Billion Liquified Natural Gas Project

Posted on February 15, 2011
Mitsubishi has announced it will proceed with a joint venture involving Kogas, PT Medco Energi, and PT Pertamina to develop natural gas fields and construct an LNG facility in Indonesia's Sulawesi province.

Pinsent Masons Strikes Chinese Alliance

Posted on February 15, 2011
U.K. firm aims to build its Chinese construction practice with help from former DeHeng Law Office partners.

Obama Plan for Fannie, Freddie Far-Reaching: Securitization Lawyers

Posted on February 15, 2011
If approved, the Obama administration's proposals for changing the way the government-sponsored mortgage giants operate would reverse a half-century's worth of policies aimed at promoting home ownership, according to top securitization lawyers...