Lesson from Dewey: Look Closely at Your Own Firm’s Finances

Aug 1, 2012 6:30 AM CDT

Ex-Perkins Coie Partner Must Arbitrate Pay Dispute With His Former Firm, Federal Judge Rules

A federal judge in California has put a damper on a would-be class action by a former partner over pay practices at Perkins Coie. An arbitration clause in the partnership agreement between the law firm and Harold DeGraff is binding, held U.S. District Judge Jeffrey S White on Monday. However,…

Jul 31, 2012 10:28 PM CDT

Ex-BigLaw Associate Sentenced to Record 12 Years Says ‘Excitement’ Drove $37M Insider-Trading Scheme

Sentenced to a record 12-year prison term for insider trading, a former BigLaw associate–who admittedly revealed to his partners in white-collar crime confidential information from four of the six law firms at which he worked–says he carried on with the long-running scheme largely for the thrills he got from it.…

Jul 31, 2012 5:28 PM CDT

Cooley ‘Flooded With Resumes’ in Santa Monica; Will Nearby Waves Help New Outpost Make a Splash?

Although new hires at Cooley’s new office in Santa Monica, Calif., will probably spend more time surfing the Internet than the nearby Pacific Ocean, proximity to the waves will be a plus factor in the firm’s search for additional attorneys to fuel an ambitious growth plan there, the Hollywood Reporter…

Jul 31, 2012 3:41 PM CDT

Most of Dewey’s Bonus Plan Wins Court Approval

A bankruptcy judge in Manhattan has approved most of a plan to pay nearly $700,000 in bonuses to Dewey & LeBoeuf employees assisting in the wind down of the law firm. Judge Martin Glenn disagreed with just one part of the plan: a proposal to set aside up to $100,000…

Jul 31, 2012 1:54 PM CDT

As BigLaw Firms Hold Steady on Attorney Headcount in DC, Consultant Points to ‘Vulnerable’ Partners

The biggest law offices in Washington, D.C., have been holding steady on lawyer headcount. Eight out of the top 10 have maintained or slightly reduced their attorney rosters since the end of 2011. Two firms, Skadden Arps Slate Meagher & Flom and Steptoe & Johnson, increased their stable of lawyers…

Jul 30, 2012 5:21 PM CDT

Chicago-Based Consumer Law Firm to Wind Down in 38 States After $2.1M Settlement with Illinois AG

A Chicago-based consumer law firm described by the Illinois attorney general as a “front” for collecting hefty fees rather than a provider of actual assistance to struggling individuals is winding down its operations in some 38 states after agreeing to pay a $2.1 million refund to its customers in the…

Jul 27, 2012 5:27 PM CDT

5th-Year Steptoe Patent Litigation Associate Stars in Adidas Ad With Redskins Quarterback

Tremayne Norris isn’t giving up his day job as a patent litigation associate … yet. But the fifth-year associate at Steptoe & Johnson’s office in the nation’s capital says he’s looking forward to more acting gigs after being cast in a starring role with Redskins quarterback Robert Griffin III in…

Jul 26, 2012 8:25 PM CDT

NLJ Survey: Slow Progress for Women Partners in BigLaw

An examination of partnership data from more than 200 large law firms shows that women make up about 15 percent of the equity partner rolls. If equity and nonequity partners are lumped together, the percentage rises to 18.8 percent, according to the National Law Journal. Using data compiled from its…

Jul 24, 2012 2:41 PM CDT

Dewey’s Executive Partner Earns $190K in First 2 Months of Chapter 11 Wind-Down

One of two partners who remain at Dewey & LeBoeuf has been paid $190,000 since the law firm filed for Chapter 11 bankruptcy on May 28, according to a court filing in the Manhattan case. Executive partner Stephen Horvath also was reimbursed $23,563 for expenses incurred during the firm’s wind-down,…

Jul 23, 2012 10:54 PM CDT

Dewey Clawback Plan to Be Revised to Address Partner Concerns

Dewey & LeBoeuf’s proposed $103.6 million clawback settlement will be revised after several former partners expressed misgivings about fairness. Dewey’s chief restructuring officer, Joff Mitchell, told partners in an email on Thursday that the plan will be modified, report the Wall Street Journal Law Blog and the Am Law Daily.…

Jul 20, 2012 1:51 PM CDT

Bankruptcy Partner Will Be New Chairman at Morrison Foerster

Morrison & Foerster has elected a new chairman to succeed Keith Wetmore. Larren Nashelsky, who co-chairs the firm’s bankruptcy and restructuring practice, will take over in October when Wetmore’s fourth three-year term ends, report the Recorder, Reuters and a press release. Nashelsky joined Morrison & Foerster as the firm’s first…

Jul 20, 2012 11:46 AM CDT

Canadian Appeals Court Dismisses Law Partner’s Age Discrimination Case, Says He’s Not an Employee

Calling a lower court’s decision that a longtime partner of a prominent law firm was its employee, for the purpose of applying age-discrimination rules, “legally insupportable,” a Canadian appeals court has dismissed John Michael McCormick’s case against Fasken Martineau DuMoulin for lack of jurisdiction. “There can be no doubt that…

Jul 19, 2012 9:06 PM CDT

Trustee Balks at Dewey Plan to Pay $450K in ‘Morale’ Bonuses to Remaining Workers

The U.S. bankruptcy trustee isn’t going along with a plan by Dewey & LeBoeuf to pay up to $450,000 in “morale” bonuses to retain 52 workers who are winding down its operations. U.S. Trustee Tracy Hope Davis noted her objections in a court filing (PDF) on Wednesday. Dewey had claimed…

Jul 19, 2012 3:30 PM CDT

Ex-Client Sues Duane Morris, Says Senior Partner’s Failure to Disclose Conflict Cost Him $92M

A former chief executive officer of SecureNet has sued Duane Morris for malpractice, contending that a senior partner of the over 700-attorney law firm failed to disclose a conflict when representing him in his 2010 sale of a controlling interest in the credit card processing company. Plaintiff Marc Potash says…

Jul 18, 2012 3:45 PM CDT