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Short-Selling Sparks RICO Suit Against Financial Giants

Fulton County Daily Report

A phalanx of lawyers representing the cream of global finance tried this week to short-circuit a suit claiming a conspiracy to reap tens of millions of dollars in unearned fees and force down the value of stock in stun-gun maker Taser International. The manufacturer and dozens of the company's shareholders accuse Morgan Stanley, Goldman Sachs, Merrill Lynch and others of engaging in "abusive naked short sales" that have devalued Taser stock and created millions of "counterfeit" shares.

Judging Supreme Court Contenders by the Numbers

The National Law Journal

Judge Diane Wood of the 7th Circuit should beat out Judge Sonia Sotomayor of the 2nd Circuit for the nod as a U.S. Supreme Court candidate -- at least according to an empirical view from University of Chicago Law School professor Eric Posner. The son of 7th Circuit Judge Richard Posner, the professor reached his conclusion after expanding on a 2004 study of 98 federal appellate judges, generating a composite rating based on quantity, quality and independence of court opinions.

Lawsuit Looks to 'Take Down' Patents on Human Genes

IP Law & Business

This week, the practice of granting patents on portions of the human genome came under a full-bore legal assault when groups representing more than 100,000 doctors and researchers, along with the Public Patent Foundation and the ACLU, filed suit against the PTO and a genetic testing company. The suit's main goal is to invalidate seven patents giving sole rights to test and do research on a pair of genes closely connected to breast and ovarian cancer. The larger goal is "to take down patents on human genes."

Obama to Revive Terror Tribunals, but With More Rights

The Associated Press

President Barack Obama will restart Bush-era military tribunals for some Guantanamo detainees, reviving a disputed trial system he once denounced but with new legal protections for terror suspects, U.S. officials said Thursday. Obama suspended the tribunals within hours of taking office but stopped short of abandoning the strategy of prosecuting suspected terrorists. Military trials will stay frozen for four more months as the Obama administration adjusts the system that is expected to try fewer than 20 of 241 detainees.

Mistrial Declared Over Executive's Texting From Witness Stand

Daily Business Review

Miami-Dade Circuit Judge Scott Silverman declared a mistrial in a civil fraud case Wednesday after being informed that a witness on the stand had engaged in text-messaging with his boss, who was sitting at the plaintiff table, while the judge spoke with attorneys during a sidebar conference. The texting incident occurred amid a growing debate within the legal community about the potential negative impact of new technology in the courts.

Crush of Madoff Victims May Limit Comments at Sentencing

New York Law Journal

The judge who will sentence Bernard L. Madoff says there are too many victims of Madoff's massive Ponzi scheme for him to "guarantee that every victim who wishes to speak at sentencing will have the opportunity to do so." Meanwhile, Irving Picard, the court-appointed trustee charged with liquidating Bernard L. Madoff Investment Securities LLC, told reporters Thursday that the "enormously time-consuming" and painstaking process of reconstructing the books and records of Madoff's firm "from scratch" continues.

Microsoft Drops K&L Gates as Preferred Provider

The American Lawyer

Microsoft has a new list of preferred legal providers -- and K&L Gates, the firm named for Bill Gates' father, isn't on it. Preston Gates, which later merged with Kirkpatrick & Lockhart, took Microsoft public in '86 and helped with Microsoft's antitrust battle in the '90s. But ties may have been shifting, as former Microsoft GC William Neukom, who rejoined Preston Gates in 2002, left K&L last year. Microsoft began its preferred-provider program in 2005, but this is the first time it has refreshed the list, a source says.

Chrysler Dealers Prepare to Sue Over Requested Dealer Closures

The National Law Journal

A legal showdown is about to begin between the nearly 800 Chrysler dealers that were ordered Thursday to shut down and the Big Three auto giant that ordered the closures. Chrysler has asked U.S. Bankruptcy Judge Arthur Gonzalez to reject dealer agreements "to conserve cash and pursue transactions that maximize value." Meanwhile, Squire, Sanders & Dempsey, which is representing a coalition of rejected dealers, claims that the closures are unlawful and that roughly 100,000 employees stand to lose their jobs.

Pfizer Again Beats Back Class Certification Motion in Consumer Fraud Case

The American Lawyer

Shortly after Pfizer predecessor Warner-Lambert agreed to pay more than $430 million to resolve criminal charges and civil liabilities for promoting off-label uses for its epilepsy drug Neurontin in 2004, plaintiffs lawyers sought to represent a nationwide class of consumers and third-party payers against the pharmaceutical giant, demanding more than $4 billion in damages. But five years later, a class has yet to be certified. On Wednesday, a Boston federal judge denied class certification for a second time.

Judge's Ex Faces Charges of Stalking D.C. Magistrate

The National Law Journal

A 39-year-old convicted felon who dated a District of Columbia Superior Court magistrate judge is charged with stalking the judge and breaking into her Washington home. D.C. police say after Taylar Nuevelle and Magistrate Judge Janet Albert ended their yearlong relationship in September 2008, Nuevelle sent harassing text messages and e-mails to the judge for several weeks. The broken relationship has produced not only the criminal charges but also a civil suit and an ethics complaint against the judge.

Two Moscow Partners Stay Put at Chadbourne & Parke

The Legal Intelligencer

When Dechert announced it was opening a Moscow office with five partners from Chadbourne & Parke, the latter firm was quick to say it wasn't a done deal. And now it appears they weren't kidding. Chadbourne & Parke said Thursday that two of the five partners, Mikhail A. Rozenberg and Jennifer Handz, have decided to stay with the firm. A firm spokesman also pointed out that three counsel would be staying.

Aussie Firms Not Immune to Layoffs

The American Lawyer

From the U.S. to the U.K., from Canada to Jamaica, law firm layoffs seem to be a global phenomenon. Australia's relatively remote location hasn't spared its law firms from the economic squeeze, reports Australasian Legal Business. Salary freezes, layoffs and deferrals have picked up in recent months, and the scourge has spread to some of Australia's most prominent firms.

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Green Gadgets to Exorcise Power Phantoms

Law Technology News

Phantom power is the power used when an electrical device is supposedly off -- or is not being used but is still plugged in -- which can waste a significant percentage of a law firm's electricity. How can you cut these costs? There are gadgets on the market to keep the phantoms at bay.

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How to Spend Your Sabbatical: Are You a Gunner or a Gamer?

Fulton County Daily Report

OK. Say you're one of the handful of lucky third-year law students whose Big Law job offer has been modified from $165,000 per year with a 2,200 minimum billable hour requirement to $5,000 of cold hard cash per month not to work. The Snark knows there are some of you out there, and wants you to know that everyone hates you. But, feeling magnanimous, The Snark offers some advice on how to handle this little quirk in your 10-year plan. First, though, you have to determine if you're a Gunner or a Gamer.

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Attorneys by Day, Celtic Musicians by Night

Daily Business Review

Miami attorneys John "Jack" Shawde, a Berger Singerman partner, and Henk "Jack" Milne, a senior partner at Aballi Milne Kalil, have an abiding side interest -- American Celtic music. They are two of the Jacks referenced by their band's name, The Three Jacks, and they take both their music and their day jobs seriously. "I don't want to play with musicians who aren't great, and I don't want to practice with lawyers that aren't great," says Milne. The band is currently in Peru to perform benefit concerts.

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