Confidence levels remain muted, partners say
If there’s optimism among law firm managing partners, it’s muted at best.
Bloomberg News
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Ernst & Young confronts Madoff’s specter in trial over audits
Ernst & Young LLP took Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history. The firm must now defend that decision at the first trial of an auditor over losses tied to Madoff, who’s serving a 150- year prison term for stealing billions of dollars from thousands of investors.
Dewey jury remains stuck over most counts against executives
A jury considering fraud charges against three former executives at Dewey & LeBoeuf LLP remains deadlocked on most counts in its 18th day of deliberations.
Record pace for US law firm combinations continues
Law firm mergers show no signs of abating. That’s the takeaway from a report from legal consultant Altman Weil Inc., which tracks the number of combinations — both large and small – among firms.
Total legal spending up 2 percent, survey says
Total legal spending is up slightly – by 2 percent – according to HBR Consulting’s 2015 Law Department Survey. But, not surprisingly, outside counsel spending is flat compared with last year.
LinkedIn settles case over adding connections
Over the weekend, the emails began arriving. LinkedIn Corp. was notifying millions of customers that it was settling a class action that, in all likelihood, very few users even knew was pending
New US clean water regulations blocked nationwide by court
A U.S. appeals court has put on hold new federal environmental regulations governing American water bodies while it reviews a legal challenge from 18 states.
BP to pay $138 million in fees in DOJ deal
The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill rose to $20.8 billion in the latest tally of costs from the U.S. Justice Department.
NCAA athletes face long next yard in bid for free-market pay
College athletes are heading back to court in pursuit of pay for play one day after a major setback in their quest for a larger share of the multibillion-dollar industry.
Are merger suits in Delaware poised for a drop?
Are Delaware’s judges attempting to rein in the shareholder litigation that has become an inevitable sideshow to virtually every corporate takeover?
For new associates, work seems like school
It’s like going back to school. Before they begin to work, new lawyers at many big firms complete lengthy orientation programs that provide instruction on topics like basic accounting and finance.
Volkswagen to be subpoenaed in probe by 27 states
A majority of U.S. states, including Indiana, have begun a joint investigation of Volkswagen AG in the widening fallout from the company’s admission that 11 million of its diesel vehicles use software to cheat emissions tests.
A spate of deals brings work for M&A attorneys
A slew of deals were announced on Tuesday, representing an uptick in mid-size to multi-billion dollar deals in industries from media to hospitality. And of course that meant more work for transactional lawyers at many firms.
Attorney monitor tracks $2.5 billion settlement
Independent monitor Thomas Perrelli released his third report this year giving details of Citigroup Inc.’s progress in complying with a settlement valued at $2.5 billion.
JPMorgan Chase settles suit over Christ Church trust accounts
JPMorgan Chase & Co. has settled a lawsuit accusing it of mismanaging the trust accounts of Christ Church Cathedral, the historic Monument Circle church endowed by descendants of drug company founder Eli Lilly.
Eli Lilly wins first trial over antidepressant ‘brain zaps’
Eli Lilly and Co. isn’t liable for withdrawal symptoms including so-called brain zaps experienced by a woman after she quit the antidepressant Cymbalta, a federal jury said.
Survey reveals managing partners’ economic mood is muted
Managing partners at the end of 2014 expressed renewed economic confidence. The mood seems less rosy now, according to the latest survey by the Law Firm Group at Citi Private Bank.
Gender gap persists among lead trial counsel
When it comes to lead trial counsel, a recent American Bar Association Study reveals that the gender divide shows no signs of going away.
Lilly, partner sue Lupin over generic testosterone
Indianapolis-based Eli Lilly and Co. and Acrux DDS Pty Ltd. have filed a lawsuit against Lupin Pharmaceuticals Inc. for alleged infringement of patents that cover the testosterone treatment Axiron.
Who gets the notes? The ABA sides with firms
Clients may come and clients may go, but until now it hasn’t been entirely clear who gets the documents, as well as the notes and drafts, when a client decides to change attorneys.