Partners

‘Survivor’s Guilt’: What to Say When a Colleague Is Laid Off

Suddenly finding out that a colleague has been laid off, many people aren’t sure what to say. For some, the instinct is to say nothing. But ignoring the situation is one of the worst things you can do, reports the Wall Street Journal. And, in an economy in which law…

Feb 23, 2009 8:54 PM CST

Appeals Court Tosses Malpractice Verdict Against Seyfarth Shaw

A California appeals court has overturned a malpractice judgment against Seyfarth Shaw that was won by a fitness instructor who sued the firm over a missed deadline. The Court of Appeal said a judge had erred in rulings on behalf of the plaintiff, Tae Bo promoter Billy Blanks, according to…

Feb 23, 2009 8:04 PM CST

Patton Boggs Changes Partner Compensation to Reward Cooperation

Patton Boggs is changing its partner compensation system to reward cooperation and mentoring. Eight-five percent of compensation for equity partners will still be based on billable hours, Legal Times reports. But a compensation committee will also distribute 15 percent of profits based on factors such as associate training and mentoring,…

Feb 23, 2009 7:21 PM CST

Finance Giant Asks Top Law Firm to Probe Lobbying re Mortgage Regs

Freddie Mac has asked Covington & Burling to conduct an internal probe of the finance giant’s own $2 million lobbying campaign. The lobbying effort was mounted to counter a 2005 effort in Congress to enact new regulations that would have required Freddie Mac to sell a substantial amount of mortgages…

Feb 23, 2009 5:30 PM CST

As Heller Dissolved, Partner Closed Big Deal; But Now What?

As others at the dissolving Heller Ehrman law firm scrambled to find work last year, partner Steven Tonsfeldt found himself in an unusual situation. He had a lot of work to do in a $3 billion deal involving a client’s planned merger with Brocade Communications Systems, Inc. But, due to…

Feb 20, 2009 7:14 PM CST

Lawyer & Staff Allegedly Held Hostage in Kan. Office Before Gunman Gives Up

Following a seven-hour standoff, a suspect who allegedly initially held an attorney and office staff hostage, after he entered a Hutchinson, Kan., law office armed with a .25-caliber handgun, was arrested and charged last night. Attorney David Holmes and his staff reportedly were released within an hour of when the…

Feb 20, 2009 5:53 PM CST

Cravath Partner Profits Drop by Almost a Fourth

Partner profits at Cravath, Swaine & Moore plummeted 24 percent in 2008, dropping to $2.5 million per partner. The American Lawyer reported the figure and said the drop is one of the steepest so far reported by a top-100 law firm. Gross revenue fell 13 percent. In 2007, Cravath’s profits…

Feb 20, 2009 3:51 PM CST

Hotel Sues Akin Gump for Canceled Retreat

A San Diego hotel has sued Akin Gump Strauss Hauer & Feld for canceling a planned April retreat. The suit by the Hotel Del Coronado seeks $386,000 for “877 sleeping room nights” secured by the firm for the partner retreat, the American Lawyer reports. The firm had chosen the San…

Feb 20, 2009 3:01 PM CST

Cellphone Conversation on Train Tips Listener to Planned Pillsbury Layoffs

A post on Above the Law this morning reported that an unidentified tipster claimed to have overheard two top lawyers at Pillsbury Winthrop Shaw Pittman discussing planned attorney layoffs in a cell phone conversation loudly conducted on a crowded train. And that apparently may be true, reports the Legal Times,…

Feb 19, 2009 9:59 PM CST

Texas Fundraiser Convicted on 14 of 22 Counts in Criminal UPL Case

A prominent Democratic political fundraiser has been convicted by a Texas jury on 14 of the 22 counts he faced in an unusual criminal trial for allegedly practicing law when he wasn’t actually licensed as an attorney. Mauricio Celis, 37, had claimed he was licensed in Mexico. But that wasn’t…

Feb 19, 2009 8:15 PM CST

A&O to Ax Up to 250 Lawyers and 200 Staff, Freeze Pay, Ask Partners for Capital

A top London-based international law firm has announced that, in response to unprecedented market conditions, it plans to cut up to 250 lawyers (including perhaps 47 partners) and 200 staffers; make “equity adjustments” concerning another 37 or so partners; and impose a pay freeze. The Allen & Overy restructuring also…

Feb 19, 2009 5:54 PM CST

Madoff’s Lawyer Has ‘Large Personality’ and ‘Residual Toughness’

Ira Lee Sorkin has an unpopular job representing the even more unpopular Bernard Madoff, accused of running a $50 billion Ponzi scheme. Sorkin, who co-chairs the securities enforcement and white-collar defense group of Dickstein Shapiro, has received one death threat that he reported to the FBI and about a dozen…

Feb 19, 2009 3:18 PM CST

Sarbanes-Oxley Governed Lawyer’s ‘Noisy Withdrawal’ in Stanford Case

The Proskauer Rose lawyer who disavowed everything he had told authorities about an investment firm affiliated with billionaire Robert Allen Stanford was acting under a provision of the Sarbanes-Oxley Act. Bloomberg News identified the lawyer as Thomas Sjoblom. His actions are termed a “noisy withdrawal” under a section of the…

Feb 19, 2009 2:41 PM CST

Howard Rice Names New Chairman

The head of the litigation department at Howard Rice Nemerovski Canady Falk & Rabkin is the new chairman of the San Francisco-based law firm. Douglas Winthrop takes the place of Lawrence Rabkin, who ends his three-year term in the position, the Daily Journal reports (sub. req.). The 45-year-old Winthrop is…

Feb 19, 2009 11:55 AM CST

Wisconsin is Still a Relatively Hot Hiring Market for Lawyers at All Levels

Wisconsin isn’t the first place many might think of when planning a job search. But the state’s legal job market is more stable than many and, while it is slower than it was, still offers opportunities for law students, reports the Wisconsin Bar Journal. That is also good news for…

Feb 18, 2009 8:29 PM CST