Career & Practice

‘Sonic Boom’: Rothstein Churned $250M in Trust Funds Last Month, Lawyer Says

Attorney Scott Rothstein allegedly wired $18 million to Morocco last month and churned some $250 million that flowed through his trust accounts in October, as he apparently prepared for a possible relocation to the African country, according to news reports. “Those are enormous figures,” attorney Bill Scherer, who represents investors…

Nov 17, 2009 8:55 PM CST

Winston & Strawn Opens Two More China Offices

Winston & Strawn is planning to open offices in Beijing and Shanghai after getting approval for the expansion by the country’s Ministry of Justice. The law firm opened an office in Hong Kong at the end of 2008. The new offices represent “the next step in a remarkable period of…

Nov 17, 2009 7:11 PM CST

Russian Lawyer, 37, Dies in Prison After Pursuing Claimed Kremlin Fraud

A Russian lawyer who helped a London-based hedge fund pursue a claimed massive fraud in which Kremlin officials allegedly participated has died in prison, where he was awaiting trial for conspiracy in a related case. Sergei Magnitsky died yesterday at the Matrosskaya Tishina detention center, reports the London Times. The…

Nov 17, 2009 6:47 PM CST

As Small & Midsize Firms Cut Costs By 1.8%, Revenue Drops 4%

Midsize and small law firms cut their costs by 1.8 percent last year. But that savings was offset by a 4 percent drop in revenue, according to a survey by ALM Legal Intelligence. Average revenue per lawyer at the more than 190 firms surveyed was $414,000, reports the National Law…

Nov 17, 2009 6:25 PM CST

Partners of Mintz Levin and Choate Form New Law Firm

Two Boston partners at well-known law firms are striking out on their own. Lawrence Gennari and Neil Aronson are forming their own firm in Needham, Mass. It will apparently focus on corporate law, including start-up companies, according to the Journal of New England Technology. “We really want to try something…

Nov 17, 2009 6:12 PM CST

New Guide Aims to Help Would-Be Public Interest Lawyers Evaluate Law Schools

A new online publication is aimed at filling a void in existing law school rankings by tailoring its information to would-be public interest lawyers. The Equal Justice Works Guide to Law Schools has information on the percentage of graduates in public service jobs; public interest field placements and clinics; and…

Nov 17, 2009 5:54 PM CST

Five Questions for Law Firms Abandoning Lockstep Compensation

Law firms abandoning lockstep compensation need to consider how they can make the change without sabotaging the morale of lawyers who aren’t the firm’s stars. The morale issue is one of several questions that an increasing number of firms will have to consider as they make the change, according to…

Nov 17, 2009 5:13 PM CST

Chris Marston: New Business

Setting up a one-stop shop for entrepreneurs

Nov 17, 2009 4:29 PM CST

Ex-Clients Claim Collapsed Ga. Law Firm Took Filing Fees Without Filing Suit

A Georgia law firm that handled debt collections has collapsed amid allegations that it paid its own expenses with client money that had been designated for filing fees. Trauner, Cohen & Thomas of Sandy Springs, Ga., is facing three suits by former clients alleging the firm took money for filing…

Nov 17, 2009 3:26 PM CST

Secret ACC Ratings Appear on Blog; Group Says Release Is ‘Premature’

New law firm ratings by in-house counsel were supposed to have been secret, accessible only to the 25,000 members of the Association of Corporate Counsel, at least for now. Law firms wouldn’t see their one- to five-star rankings until more information was available, they were told, and the rankings were…

Nov 17, 2009 2:07 PM CST

How B of A’s GC Got Fired: Leave Now, and Leave Your BlackBerry Behind

Bank of America’s former general counsel Timothy Mayopoulos says he was stunned when he learned last December that he was being fired as his employer was preparing to acquire Merrill Lynch. Mayopoulos said no reason was given for his dismissal, and he still doesn’t know why it happened. Since Mayopoulos’…

Nov 17, 2009 1:08 PM CST

More Hackers Target Law Firms, Often ‘Spear Fishing’ in Spam E-Mail

Computer hackers are targeting law firms as a potential motherlode of confidential information, often relying on “spear fishing” attacks in which personalized spam e-mail appears to come from a trusted individual. While the e-mail itself doesn’t pose a danger, clicking on a link within the e-mail can invite malicious software…

Nov 17, 2009 12:18 AM CST

Deluged with Information? Here Are Some Tips for Streamlining the Flow

A deluge of information is distracting many lawyers from the important work on which they need to focus. But there are ways to reduce the information overload. Among them: Delegating initial e-mail review to others and doing nonessential reading on the train to and from work, explains the Law Firm…

Nov 16, 2009 11:12 PM CST

Like Corporate Cousins, City of Chicago Seeks Lower Outside Legal Fees

It isn’t just in-house counsel at large corporations who are leaning on private law firms to lower their hourly legal fees. The city of Chicago has also done so, and now pays its outside counsel a top billable rate of $250 an hour, down from $295, reports the Chicago Tribune.…

Nov 16, 2009 10:33 PM CST

Merged Law Firm Will Be Called Hogan Lovells

If the planned merger of Hogan & Hartson and Lovells becomes a reality, the new firm will be called Hogan Lovells. The American Lawyer reported on the new name, citing a Legal Week story. “Alas, it’s not the Harry Potter-esque Hogells,” the American Lawyer says. A document sent to partners…

Nov 16, 2009 7:39 PM CST