Martin Lipton’s Latest Client Memo ‘Wrongheaded,’ Columnist Says

The latest advice offered by high-profile lawyer Martin Lipton to his corporate clients is “wrongheaded” and “dangerous,” Andrew Ross Sorkin asserts in a Dealbook column for the New York Times. The 76-year-old lawyer sent out a pre-Christmas memo advising corporate board members to resist shareholder efforts to dictate executive compensation…

Jan 8, 2008 5:15 PM CST

Ex-GC to Be Sentenced this Month for Insider Trading

The former general counsel of semiconductor maker Amkor Technology Inc. faces up to five years in prison when he is sentenced Jan. 28 for insider trading. At one time, Kevin Heron was in charge of insider trading compliance for the company. But he was convicted July 19 based on evidence…

Jan 8, 2008 1:19 PM CST

Clients May Help End Billing by the Hour

A push by clients may force some law firms to abandon the billable hour, according to an article in Slate. Among the companies pushing for alternative billing arrangements are Cisco, Pitney Bowes and Caterpillar. They favor flat fees and discounts for volume legal work in an effort to control their…

Jan 2, 2008 6:47 PM CST

The Hammer Goes In-House

Latest chapter in corporate fraud probe has SEC going after general counsel

Jan 1, 2008 7:58 PM CST

Seventeen Percent

Jan 1, 2008 4:53 PM CST

Cyber Crime Does, Increasingly, Pay

Cyber crime has become more sophisticated, more stealthy, and more successful than ever before, as ill-intentioned Internet “malware” experts refine their methods to take advantage of the popularity of new technology and applications. In addition to sneaking their malicious software onto trusted high-traffic sites such as MySpace.com and YouTube.com, cyber…

Dec 21, 2007 2:39 AM CST

Judge Appears Unlikely to Block Law Penalizing Hiring of Illegal Immigrants

A federal judge appears unwilling to block a new Arizona law cracking down on employers that hire illegal immigrants. U.S. District Judge Neil Wake of Phoenix said at a hearing yesterday that he was not inclined to issue an injunction to prevent the law from going into effect on Jan.…

Dec 19, 2007 2:11 PM CST

Mayer Brown Partner Sued—and Charged—by SEC in Refco Case

Updated:: The SEC filed civil and criminal cases today against a partner at Mayer Brown, accusing him of helping one of the world’s biggest commodities brokerages hide from investors information about debt that it was owed and related transactions. Joseph P. Collins, 57, allegedly helped Refco Group Ltd. and its…

Dec 18, 2007 6:36 PM CST

Corp. Crime Crackdown: Many Serve Minimal Sentences

Despite a renewed emphasis on corporate compliance in recent years and a high-profile crackdown on executives who don’t play by the rules, such prosecutions may be sending a mixed message to those tempted by white-collar crime. That’s because nearly half of the defendants convicted in such cases during the past…

Dec 13, 2007 7:00 PM CST

U.K. Considering Sarbanes-Like Rules

In the wake of an unprecedented loss of a government database containing confidential information about tens of millions of people, British legislators are reportedly considering new data-protection safeguards. Possible changes in the law being discussed would hold company chief executives directly responsible for data protection and make it a crime…

Dec 7, 2007 5:51 PM CST

Mortgage Mess Gets Messier

Despite cleanup efforts, the mortgage mess continues. The Bush administration announced today a plan to freeze the interest rate on some subprime mortgages for five years, which could help more than a million homeowners. As an article on the CNN Money.com website details, the plan would grant those current on…

Dec 6, 2007 8:24 PM CST

Prosecutors Bringing More Foreign Bribery Cases

Prosecutors and securities officials are increasingly targeting companies for paying bribes to obtain foreign contracts, bringing more than double the number of cases this year than the number filed in 2004. The government has already collected more than $100 million in penalties this year, the Washington Post reports. Prosecutions are…

Dec 5, 2007 4:17 PM CST

New BigLaw Job: Lend-an-Associate

An innovative perk being offered to favored clients by a small but growing number of law firms can also provide big benefits to associates. So-called secondments—essentially, a loan of an associate to work onsite for a client for a period that often lasts for months—are growing in popularity with major…

Dec 4, 2007 8:56 PM CST

European Plaintiffs Pursue U.S. Lawsuits

Although tentative steps are being made toward creating U.S.-style plaintiffs litigation opportunities in Europe, including class actions and shareholder cases, there are still substantial barriers to pursuing such cases there. The real news is that American courts, which clearly offer plaintiffs better litigation opportunities, are increasingly open to hearing cases…

Dec 4, 2007 5:05 PM CST

Seniors, Good Credit Risks Targeted By Lenders; Mortgage Solution Sought

It isn’t just people with poor credit who are now suffering in the aftermath of a subprime lending spree. And, although a federal government plan is supposed to be announced later this week to help financially struggling homeowners, it appears unlikely to do much to rescue many of those now…

Dec 3, 2007 10:16 PM CST