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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

January Jobs Report: Marginal Growth in Legal Industry

Posted on February 04, 2011
The legal sector saw slight gains in January, adding 400 jobs. It was the industry's first month of job growth since September 2010.

MoFo, Reed Smith Richards Butler on Chinese Beverage Joint Venture

Posted on February 04, 2011
Japan's Kirin and Hong Kong's China Resources Enterprise are teaming up to manufacture and distribute non-alcoholic beverages in China.

Chevron Files RICO Suit Against Steven Donziger, Ecuadorian Plaintiffs, and Expert Consultants

Posted on February 03, 2011
The suit names a host of U.S. law firms as non-defendant co-conspirators in a fraudulent scheme to shake a multibillion-dollar settlement from Chevron. The oil company wants a declaratory judgment that any award against it from the Ecuadorian court is unenforceable.

The Score: Redskins' Snyder Sues City Paper, Madoff and the Mets, and More

Posted on February 03, 2011
The past two weeks have been busy ones for Am Law 200 firms representing clients usually found in the sports pages. The Am Law Daily has a quick rundown on the legal eagles suiting up for various players and teams.

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Unsealed Picard Complaint Describes JPMorgan's Alleged Role in Madoff Scam

Posted on February 03, 2011
The previously sealed 121-page document filed by Bernard L. Madoff Investment Securities bankruptcy trustee Irving Picard was made public Thursday, laying bare the details behind Picard's allegations that the bank played a central role in aiding and abetting Madoff's epic fraud.

Nippon, Sumitomo to Merge in $35 Billion Metal Deal

Posted on February 03, 2011
Japanese companies Nippon Steel and Sumitomo Metal Industries announced on Thursday that they would pursue a plan of integration that would create the world's second-largest steel company. The deal marks the first move in a decade to consolidate the Japanese steel industry and the second major steel deal announced this week.

The Am Law 100: Akin Profits Jump 10 Percent

Posted on February 03, 2011
Akin Gump Strauss Hauer & Feld has emerged from the financial crisis as a smaller, but perhaps more profitable law firm. Profits per partner soared 10.4 percent last year to $1.5 million.

Gold Rush: Wachtell Advises Newmont Mining in $2.3 Billion Deal

Posted on February 03, 2011
Newmont Mining Corporation--one of the world's leading gold producers--will acquire Vancouver-based Fronteer Gold Inc. and enter into a joint venture related to a group of Nevada gold projects.

The Am Law 100: Weil's Revenue, Partner Profits Decline in 2010

Posted on February 03, 2011
Gross revenue dipped 4 percent in 2010 to $1.185 billion, according to figures released by the firm.

The Careerist: The Sweater Set

Posted on February 03, 2011
According to a recent opinion column in The New York Times, Michele Obama has revolutionized office attire, making sweaters--in particular, cardigans--the new power suits.

Report: Howrey Partners Pressed to Act on Winston Offers

Posted on February 03, 2011
The Recorder reports that in a partnership meeting held Tuesday, Howrey chairman Robert Ruyak and Winston & Strawn Managing Partner Thomas Fitzgerald encouraged those Howrey partners with offers from Winston to accept them as soon as possible.

The Churn: Buying in Bulk

Posted on February 02, 2011
Edwards Angell merges with a 12-person, Washington, D.C.-based communications boutique, and DLA Piper lands a five-person restructuring team from Paul Hastings. The Churn is constant. Please send all announcements and news releases to thechurn@alm.com.

Nobody Does it Like Skadden for Sara Lee Split

Posted on February 02, 2011
The global food service company has announced plans to split into two businesses--food and beverage--after spurning two recent takeover offers it deemed too low.

S&C Lands Freshfields Finance Partner in London

Posted on February 02, 2011
Presley Warner joins the firm's credit and leveraged finance practice after 16 years at Freshfields.

Groundhog Day Deal Roundup: Transactions Heat Up Ahead of Spring Thaw

Posted on February 02, 2011
Punxsutawney Phil and Staten Island Chuck are in agreement: spring is just around the corner. (We certainly hope they're right.) But will the dealmaking environment also heat up? The Am Law Daily has a rundown of the latest deals to cross our desk and the outside legal advisers who worked on them.

DISH Network pays $1B for Reorganized DBSD North America

Posted on February 02, 2011
Skadden; Kirkland & Ellis; Milbank, Tweed; K&L Gates; and Curtis, Mallet-Provost all have a part in a deal that sees satellite television provider move to expand its network by adding a company that filed for Chapter 11 in 2009.

The Careerist: Gender Gap on Wall Street--Do Top Women Bankers Care?

Posted on February 02, 2011
Apparently not, judging from a recent interview with one such women banker in The New York Times.

Experts: For Howrey, Mass Departures to Winston Could Breach Debt Obligations

Posted on February 02, 2011
With Winston & Strawn extending offers to three-quarters of Howrey's remaining partners, the likelihood that the struggling firm will breach its default covenants grows, law firm bankruptcy experts say. Liability issues for Winston and ex-Howrey partners may also be a concern.

The Am Law 100: Revenue and Profits Hit Record Highs at Bingham

Posted on February 02, 2011
A restructuring boom and a merger with McKee Nelson contributed to strong financial results in 2010--Bingham McCutchen's 15th consecutive year of growth.

Patton Boggs Advisor is Special Envoy to Egypt

Posted on February 02, 2011
Frank Wisner, a former U.S. ambassador to Egypt and current foreign affairs advisor at Patton Boggs, is now in Cairo serving as President Barack Obama's unofficial emissary to Egypt's embattled president.

Allen & Overy Continues Belfast Back-Office Trend

Posted on February 02, 2011
The Magic Circle firm plans to open a 300-strong back office in Belfast, Northern Ireland.

U.K. Bribery Act Gets Delayed Again

Posted on February 01, 2011
Already delayed once, the United Kingdom's new Bribery Act has been pushed back again to give companies a chance to better prepare for the changes it will bring.

Am Law Firms in Cairo React to Egyptian Unrest

Posted on February 01, 2011
The Am Law Daily reached out to several firms with offices in Cairo to get their take on the mounting protests that have crippled the country's economy, unnerved the West, and prompted longtime president Hosni Mubarak to announce that he won't seek reelection in the fall.

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

Posted on February 01, 2011
Ballard Spahr welcomes back former governor of Pennsylvania Ed Rendell, who left the firm to take office in 2003. Plus: More partner moves in The Am Law 200. The Churn is constant. Please send all announcements and news releases to thechurn@alm.com.

The Am Law 100: Madoff Work Pays Off for Baker & Hostetler

Posted on February 01, 2011
Based on court filings in the Madoff case, it appears that at least $58 million of the firm's 2010 revenue stems from that high-profile assignment.

The Careerist: Can You Game the Psych Assessment?

Posted on February 01, 2011
That all depends on how well you know the firm.

Former U.S. Senator Bayh Joins McGuireWoods

Posted on February 01, 2011
The former Democratic governor and senator from Indiana is now a partner in the firm's Washington, D.C., office. He will also work as an adviser for the private equity firm Apollo Global Management.

Congressional Spotlight Falls on Fannie and Freddie Legal Fees

Posted on February 01, 2011
Fannie Mae and Freddie Mac were seized by federal regulators more than two years ago, but legal bills connected to the mortgage giants live on. The chairman of the House Committee on Oversight and Government Reform wants to know why Williams & Connolly, Zuckerman Spaeder, and BuckleySandler are still being paid to defend former executives.

Report: Five Am Law 200 Firms See Lobbying Revenues Rise in 2010

Posted on February 01, 2011
Akin Gump, Brownstein Hyatt, Holland & Knight, K&L Gates, and Patton Boggs account for half of Washington, D.C.'s ten most profitable lobbying shops last year, according to The Washington Post.

Report: Winston Makes Offers to Most Howrey Partners

Posted on February 01, 2011
Winston & Strawn made individual offers to a little more than three-quarters of Howrey partners over the weekend, sources close to the firm told sibling publication The Recorder on Monday. Those who received offers, according to The Recorder, were given 21 days to respond...

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