Corporate Law

Jury Awards Punitives in Hormone Case Against Wyeth, But Amount Is Sealed

A Philadelphia jury awarded punitive damages yesterday in Connie Barton’s case over the Prempro hormone replacement therapy marketed by Wyeth. But the amount of the award won’t be known for at least a month, because a judge in the Pennsylvania Common Pleas Court case agreed that the amount would be…

Oct 27, 2009 6:31 PM CDT

Drew U Sued, Accused of Purloining Poetry Program & Students

A federal judge in New Hampshire has given the green light to a lawsuit accusing New Jersey’s Drew University of stealing a competing college’s graduate-level poetry program and many of its students. Poet Anne Marie Macari created the Drew program while serving for less than a year as interim director…

Oct 26, 2009 6:39 PM CDT

Shearman to Open 2nd Italy Office to Service Expanding Transactional Market

Shearman & Sterling will be opening a second office in Italy in January to service its expanding business in the country. The new Milan outpost will be staffed by partners and associates from the firm’s existing Rome office, the firm announces in a press release. “We believe the market for…

Oct 23, 2009 6:58 PM CDT

Davis Wright Settles Malpractice Suit for $30M Despite ‘Strong’ Position

A major Pacific Northwest-based law firm has agreed to settle for $30 million securities fraud and legal malpractice claims brought by investors in a failed company that oversaw dozens of senior housing complexes. Their Oregon state-court case contends Davis Wright & Tremaine and two other law firms prepared documents for…

Oct 22, 2009 9:46 PM CDT

Dad’s Dumpster Dive Led to $1.8M Win in Phone Records ‘Pretexting’ Case

Saleswoman Kathy Lawlor got into a dispute with her employer four years ago over a big incoming commission, and she said the company fired her when she wouldn’t agree to sign a document changing her compensation schedule. The pay dispute soon wound up in court, and her ex-employer, North American…

Oct 20, 2009 12:26 AM CDT

Secret SEC Data Mining to Fuel New Insider-Trading Cases; Lawyers Targeted

After a two-year investigation using unusually aggressive evidence-gathering techniques, the feds are getting ready to crack down on a broad array of insider-trading networks. In addition to the securities fraud case and civil insider-trading charges announced last week against billionaire Galleon Group hedge-fund manager Raj Rajaratnam, authorities are targeting hedge…

Oct 19, 2009 6:44 PM CDT

New ACC ‘Value Index’ Helps Clients Rate—And Share—Law Firm Performance Info

First came the ACC Value Challenge. Now the Association of Corporate Counsel is about to introduce a tool to help in-house legal departments better implement it. Corporate counsel will not only have a uniform way to measure the performance of their outside law firms but will be able to share…

Oct 16, 2009 12:05 AM CDT

More than Half of the Largest Companies Expect More Litigation Next Year

There is one bright spot for law firms in a survey of in-house counsel: More than 40 percent of the respondents expect to see more litigation next year. Large companies were even more bullish, with 52 percent expecting a litigation increase. Fulbright & Jaworski chairman Stephen Dillard pointed out the…

Oct 15, 2009 2:52 PM CDT

Deal King & Law Media Mogul Dies; Bruce Wasserstein Once Worked for Cravath

Bruce Wasserstein, a onetime corporate lawyer at Cravath Swaine & Moore who became a deal king and law media mogul has died a few days after being hospitalized for an irregular heartbeat, reports Bloomberg. He was 61 years old. “He made more from investment banking than any man on the…

Oct 14, 2009 10:18 PM CDT

Heller Creditors May Sue Accountant Over Its ‘07 Audit of Law Firm

Creditors of Heller Ehrman may sue its accountant for allegedly failing to note red flags in its audit report on the law firm’s 2007 financials, according to a bankruptcy liquidation plan filed in federal court last week. Creditors contend that Ernst & Young was persuaded to list without qualification $11…

Oct 14, 2009 9:11 PM CDT

Court Fines 2 Cos. $6.4M for Unauthorized Law Practice, Bans Them From State

The Ohio Supreme Court has fined two “trust mill” companies $6.4 million for the unauthorized practice of law and banned them from doing business in the state. Its ruling this morning imposed $6,387,990 in penalties against American Family Prepaid Legal Corporation; Heritage Marketing and Insurance Services Inc.; and co-owners Jeffrey…

Oct 14, 2009 8:36 PM CDT

Evicted Over Boyfriend’s Alleged Abuse, Woman Files Sex Discrimination Suit

After her live-in boyfriend allegedly threatened her with a gun, Kathy Cleaves-Milan called police and got a court order of protection against him. But when she informed the managers of the suburban Elmhurst apartment complex about the crime report, they evicted her, the 36-year-old tells the Chicago Tribune. A copy…

Oct 13, 2009 11:32 PM CDT

Stanford Investors Sue 2nd Law Firm, Ex-GC; Proskauer Partner Withdraws

A second law firm has been named as a defendant in an investor lawsuit contending that a now-former partner of Proskauer Rose, Thomas Sjoblom, participated in a claimed $7 billion Ponzi scheme allegedly operated by the Stanford Financial Group. The new defendant in the federal class action case is another…

Oct 13, 2009 8:26 PM CDT

Wal-Mart Was Among Major Retailers Targeted in ‘05-‘06 Hack Attacks

Although it appears that no sensitive consumer data may have been stolen, Wal-Mart was among the major companies attacked by computer hackers in 2005 and 2006. Only a fortuitous server crash may have saved the giant retailer from joining the ranks of TJX, Dave & Buster’s and other companies, which…

Oct 13, 2009 4:48 PM CDT

Stanford’s D&O Coverage Can Pay for Private Counsel in $7B Case, Judge Rules

it looks like Texas billionaire R. Allen Stanford may soon have a private lawyer again. After his assets were frozen, he couldn’t afford to pay legal counsel and had to get a public defender. But today U.S. District Judge David Godbey, who sits in Dallas, said he and other executives…

Oct 9, 2009 10:26 PM CDT