Corporate Law

Big Biz Scoring System for Law Firm Hires

Two big-name companies based in Switzerland are now using a new scoring system to determine what law firms to hire. Zurich, a well-known insurance carrier, announced this week that it rates law firms on about 10 factors, including cost, responsiveness and “personalities,” reports Legal Week. “The insurer now hopes to…

Oct 25, 2007 3:30 PM CDT

Microsoft Bends Knee to EU Regulation

Bowing down to the authority of the European Union to regulate antitrust issues, Microsoft Corp. has agreed to end a nine-year court battle and share some of its intellectual property with competitors. The move may signal a new era of increased EU enforcement of antitrust rules against dominant companies, now…

Oct 22, 2007 8:33 PM CDT

Ex Jenkens Partner Named in Fraud Case

A New York partner of Baker & McKenzie has been indicted in a federal securities fraud case involving alleged corporate kickbacks, along with executives and two individual investors. Attorney Martin Weisberg and the five other defendants “face a variety of charges, including conspiracy, securities fraud and money laundering,” reports the…

Oct 19, 2007 9:34 PM CDT

How Not to Choose a Lead Plaintiff

After more than a year of legal wrangling, attorneys representing the plaintiffs in a would-be securities class action couldn’t come up with a lead plaintiff candidate who was acceptable to the trial judge. Hence, the judge refused to certify the class, and the plaintiff lawyers went to the 7th U.S.…

Oct 18, 2007 9:22 PM CDT

Controversial BigLaw Clients: ‘Vulture Funds’

Big law firms in London and the U.S. that represent so-called vulture funds are becoming a target for criticism. A number of funds have purchased distressed sovereign debt issued by Third World countries at a fraction of its face value, then retained a major law firm and sued for the…

Oct 17, 2007 6:15 PM CDT

Big Legal Bill for Exec’s Backdating Defense

Major corporations commonly agree to indemnify officers and directors for legal costs, should they be sued or prosecuted as a result of their work. Otherwise, even CEOs often would find it difficult or impossible to pay the cost of a standard defense. However, the defense price tag can be noteworthy…

Oct 11, 2007 7:56 PM CDT

EU Tiptoes Toward Mass Torts

Class actions as we know them in the U.S. are virtually unheard of in Europe, and corporations located in the EU would like to keep it that way. Hence, a proposal by the European Commission to allow individuals to hold EU corporations accountable in court for price-fixing and defective products,…

Oct 10, 2007 12:21 AM CDT

Parties Lawyer Up in Sallie Mae Case

As litigation looms between the now-reluctant buyer of a student loan provider and the willing bride, spectators are looking to see who weighs in as lead counsel in a lawsuit to enforce the $25 billion deal—or at least obtain a promised $900 million breakup fee. In Sallie Mae’s corner, heavyweight…

Oct 9, 2007 11:04 PM CDT

Moving from BigLaw to MegaLaw

When William Cook was in India earlier this year, a local manager wanted to know where in the world his 750-lawyer Atlanta-based law firm housed its foreign offices. The answer: It doesn’t have any. That conversation was one reason why Cook moved from BigLaw to MegaLaw, reports Legal Times. As…

Oct 9, 2007 5:58 PM CDT

Pro Bono Team Attacks Exec’s Prosecution

A team of pro bono attorneys from four different firms has taken up the cause of a convicted Dynegy Inc. executive and filed a habeas corpus petition seeking his release from prison. By pressuring Dynegy, under threat of prosecution, to renege on its promise of paying defense costs, the federal…

Oct 8, 2007 9:16 PM CDT

Top NJ Judge Joins 2—Yes, 2—Family Firms

When it came time to retire from the bench and return to law practice, former New Jersey Chief Justice James Zazzali had a hard time making a choice between two family law firms. So he didn’t. Zazzali is now counsel at both a Newark, N.J., law firm started by his…

Oct 4, 2007 7:05 PM CDT

Exploding OT Claims for Many Employers

Wage-and-hour class action claims brought over unpaid overtime are a hot practice area—and, as today’s $62 million judgment against Wal-Mart illustrates, one that can be extremely costly to employers. “Multiplaintiff wage-and-hour lawsuits pose the greatest employment litigation threat to American businesses today,” says Seyfarth Shaw, a law firm known for…

Oct 3, 2007 11:54 PM CDT

In-House DuPont Lawyers Post Profit

Like many corporations, DuPont Co. spends a lot of money on its in-house law department. The department’s annual budget was about $230 million last year. However, unlike most corporations, the Wilmington, Del.-based chemical giant has been getting more than it pays for. The company’s in-house counsel brought in $290 million…

Oct 2, 2007 7:50 PM CDT

Loeffler Leaves Loeffler, Keeps Lobby Arm

Lobbyist and former Texas Congressman Tom Loeffler has left the law firm he founded. But he has retained his national lobbying firm, the Loeffler Group, and will continue to be housed in the same office building with his now-former partners at Loeffler Tuggey Pauerstein Rosenthal, reports the San Antonio Express-News.…

Oct 2, 2007 7:07 PM CDT

Top India Law Salary: $7K + Stock Options

The starting annual salary for a graduate of one of India’s top law schools working in an outsourced position for a major U.S. law firm is less than an American counterpart earns in a single month if employed by the firm directly. But the job has some nice benefits, at…

Oct 1, 2007 9:51 PM CDT