Judge ‘Reluctantly’ OKs $150M SEC Pact with BofA

A federal judge approved a $150 settlement between the Securities and Exchange Commission over disclosure issues related to Bank of America’s Merrill Lynch takeover. This means that the SEC will not have to go to trial next week over its assertion that Bank of America both misled shareholders about losses…

Feb 22, 2010 6:16 PM CST

Judge Rakoff Probes GC’s Firing, Seeks ‘Voluminous’ Info From SEC and BofA

As he weighs whether to approve a proposed $150 million settlement between the Securities and Exchange Commission and Bank of America Corp. that would resolve a case alleging the bank misled investors about its Merrill Lynch & Co. merger, U.S. District Judge Jed S. Rakoff is hungry for more information.…

Feb 12, 2010 12:09 PM CST

$150M SEC Pact with BofA Still Low, Judge Says. Will Case Go to Trial?

A federal judge left open the possibility that he could, for a second time, reject a settlement between the Securities and Exchange Commission and Bank of America over the bank’s controversial takeover of Merrill Lynch. Such a rejection by U.S. District Judge Jed S. Rakoff, this time of a proposed…

Feb 9, 2010 11:53 AM CST

Bank of America Settles With SEC, Faces New Suit from NY AG

The Bank of America today settled two Securities and Exchange Commission regulatory complaints over its handling of Merrill Lynch & Co. losses and bonuses by agreeing to pay a $150 million fine and improve the bank’s corporate governance rules. The agreement must still be approved by the federal judge overseeing…

Feb 4, 2010 7:08 PM CST

As Super Lawyers Is Sold, Minn. Law & Politics Ceases Publication

This week’s news that Super Lawyers had been sold by Key Professional Media to Thomson Reuters prompted some to wonder what this development might mean for Minnesota Law & Politics. They didn’t have to wait long for an answer. The 20-year-old magazine, which gave birth to Super Lawyers but wasn’t…

Feb 4, 2010 2:11 AM CST

Skadden Is Up, S&C Is Down in Deal Rankings

Global mergers and acquisitions were down last year, the worst market in six years, and some law firms felt the pinch more than others. Sullivan & Cromwell had advised on the highest amount of mergers and acquisitions for four years in a row through 2007, and was second on the…

Jan 6, 2010 12:35 PM CST

That’s Hot. And That’s Not.

Jan 2, 2010 3:20 AM CST

Hogan & Hartson Associate Makes Partner ... at Seyfarth Shaw

An associate at Hogan & Hartson has made partner … at Seyfarth Shaw, starting work today at the firm’s Washington, D.C., office. William Kahn focuses his practice on international mergers and acquisitions, and has a client portfolio that includes aerospace, defense and technology companies. He tells the Blog of Legal…

Dec 17, 2009 9:55 PM CST

Adams and Reese Expands, Adds 60 to its Ranks

New Orleans-based Adams and Reese has expanded into Florida, adding 60 lawyers and staff from the recession-weary Ruden McClosky. Ruden McClosky had decided to shutter two offices in St. Petersburg and Sarasota. Adams and Reese decided to take over the offices as a way of entering the Florida market, according…

Dec 11, 2009 2:42 PM CST

Comcast-NBC Deal to Put a Fleet of M&A Lawyers to Work

Comcast’s proposed purchase of a controlling share of NBC Universal yesterday, and troops are being assembled. The Wall Street Journal (sub. req.) calls the deal, valued at about $30 billion “legal boomlet amid a slow season of M&A activity.” The deal is “likely to require a small army of lawyers…

Dec 4, 2009 9:57 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

Cravath Lawyer Credits Talking Texan for M&A Successes

Jim Woolery, a 40-year-old partner at Cravath, Swaine & Moore in New York, has represented four Texas companies over the last five years in buyouts valued at more than $60 billion. He thinks more deals are in the offing because the seller’s market is heating up—and he hopes to be…

Oct 19, 2009 12:39 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

Bank of America to Waive Attorney-Client Privilege in Merrill Acquisition

Bank of America has agreed to reveal legal advice it obtained in its acquisition of Merrill Lynch, a move likely to put the spotlight on its outside law firm in the deal, Wachtell, Lipton Rosen & Katz. Bank of America’s board voted to waive its attorney-client privilege on Friday, according…

Oct 13, 2009 11:37 AM CDT

Experts See Only Slight Risk for Law Firms in BofA Case, Despite Judge’s Ire

U.S. District Judge Jed Rakoff’s refusal to approve a $33 million settlement between Bank of America and the Securities and Exchange Commission has put two law firms into the spotlight. The firms are Wachtell, Lipton, Rosen & Katz, which represented Bank of America, and Shearman & Sterling, representing takeover target…

Sep 16, 2009 1:34 PM CDT