In-house Counsel

Suit by lawyer for startup claims he received zilch for his work as general counsel

A California lawyer for a startup called QuickLegal claims in a lawsuit that he was never paid for more than three months of work he performed as in-house general counsel for the company and its predecessor. The lawyer, Justin Lowenthal, says in the June 11 suit (PDF) that QuickLegal Inc.…

Jun 20, 2016 7:30 AM CDT

Why raise associate pay to $180,000? Bank of America’s top lawyer questions the need

Beginning BigLaw associates may be happy about recent raises that hiked their pay to $180,000, but some lawyers for the companies that hire their law firms don’t share their enthusiasm. Now one in-house lawyer is making his misgivings known in an email, the Wall Street Journal (sub. req.) reports. Bank…

Jun 16, 2016 8:36 AM CDT

Rite Aid can’t recover from imprisoned ex-lawyer because of release in shareholder suit, judge rules

A federal judge in Philadelphia has blocked Rite Aid’s $135 million suit in state court against its convicted former chief counsel and vice chairman because of a release signed by the company in a shareholder class action in 2001. U.S. District Judge Stewart Dalzell ruled June 7 that Rite Aid…

Jun 14, 2016 8:31 AM CDT

Disbarred securities lawyer gets 30 months, must pay $1.95M to IRS in tax case

A disbarred New York securities lawyer who subsequently moved to Florida has been sentenced to 2½ years in prison and ordered to pay $1.95 million to the Internal Revenue Service in a federal tax-evasion case. Paid in part in stock options for working as outside counsel to a corporation, William…

May 19, 2016 6:15 AM CDT

ACC honors 12 legal department projects and collaborations as Value Champions

Helping revamp procurement for a corporate spinoff, providing a preventive approach to employment issues and improving contract management are among the accomplishments honored in the fifth annual ACC Value Champions competition. The Association of Corporate Counsel recognized 12 companies as ACC Value Champions, part of the ACC Value Challenge, which…

May 13, 2016 2:22 PM CDT

Top hourly rates for some BigLaw partners have reached $2K, survey finds

“More than a handful” of U.S. companies are now paying a top hourly rate of $2,000 to partners at BigLaw firms, a survey says. Results released Wednesday by BTI Consulting Group show that billable rates for some elite lawyers reached this benchmark last year, reports the Am Law Daily (sub.…

May 13, 2016 10:55 AM CDT

The CLOC is ticking: Will lawyers embrace operational excellence?

From the beginning of our conversation around the New Normal, we’ve argued that the way legal work is created, consumed and assessed would be more and more like other knowledge and digital work. Faster. More integrated. More automated. More measured. Hence New Normal. For my money, this has all somehow…

Apr 19, 2016 8:30 AM CDT

Farmers Insurance to pay $5.8M to settle discrimination suit by female claims litigators

In a proposed settlement filed late Tuesday, Farmers Insurance Group Inc. agreed to pay $4 million to some 300 women who have worked as claims litigators for the company over the past four to five years. Farmers will pay an additional $1.8 million in attorney’s fees to settle the pay-discrimination…

Apr 15, 2016 1:20 PM CDT

Town officials indicted in landmark securities-fraud case over municipal bonds

In what prosecutors say is the first criminal case of its kind ever pursued, a municipal official in a New York suburb and a former assistant town attorney have been federally indicted in a securities-fraud case over bond issues. A parallel civil lawsuit is also being pursued by the U.S.…

Apr 15, 2016 8:35 AM CDT

As its stock hovers near a record low, Slater & Gordon GC resigns after two months

Moana Weir started work on Jan. 29 as in-house legal chief and company secretary for Slater & Gordon, the Australia-based personal injury Goliath that made history by becoming the world’s first law firm to go public. But last month, after less than 60 days on the job and after law…

Apr 5, 2016 12:05 PM CDT

Clients are mad as hell—but also really vague

Corporate clients are displeased with their law firms. And the displeasure is not confined to opinion surveys. A decades-long decline (PDF) in realizations has been paired with flattening of demand for external law firms. Overall demand remains on upward trajectory, but law departments are insourcing and sending increasingly more work…

Mar 31, 2016 8:30 AM CDT

SEC brief supports fired in-house lawyer’s suit against Vanguard, says he qualifies as whistleblower

The federal government has intervened to file a brief in support of a former in-house lawyer’s wrongful termination suit against Vanguard Group. The mutual fund giant contends that plaintiff David Danon doesn’t qualify for whistleblower protection, because he only sought it after learning that he would be let go by…

Mar 29, 2016 3:15 PM CDT

GM lawyers won’t face Michigan ethics probe

Michigan won’t open ethics probes against lawyers for General Motors who were fired following an internal probe into the automaker’s handling of faulty ignition-switch issues. Michigan’s Attorney Grievance Commission refused in February and March to consider whether a half dozen lawyers should be sanctioned, the Wall Street Journal (sub. req.)…

Mar 28, 2016 9:08 AM CDT

Former general counsel says he was fired after opposing huge price hike for drug

The former general counsel for Turing Pharmaceuticals told a Senate committee last Thursday that he was fired after he opposed raising the price of a parasite-fighting drug from $13.50 a pill to $750 a pill. Former GC Howard Dorfman said he told then-CEO Martin Shkreli that the price boost “would…

Mar 21, 2016 6:45 AM CDT

Lawyer accused of bank robbery is disbarred by consent

A Pennsylvania lawyer accused of robbing a Wells Fargo Bank last October has been disbarred by consent. The disbarment for 58-year-old lawyer Steven Cormier of Nesquehoning will take effect on April 10, report the Standard Speaker, the Morning Call and the Legal Profession Blog. He is awaiting trial on charges…

Mar 14, 2016 10:06 AM CDT