To redress what it terms a “persistent lack of diversity” in the legal profession, one of the nation’s largest corporate law firms will commit $9.6 million over the next decade toward a program designed to encourage minority students to become attorneys.

Skadden

To redress what it terms a “persistent lack of diversity” in the legal profession, one of the nation’s largest corporate law firms will commit $9.6 million over the next decade toward an honors program designed to encourage and support minority students at the City College of New York to become attorneys.

The Skadden, Arps, Slate, Meagher & Flom Honors Program in Legal Studies is set to begin on the 14,000-student Harlem campus this fall. Freshman and sophomores will be recruited for what will eventually involve 100 juniors and seniors in a two-year curriculum of course work and seminars to complement the school’s range of undergraduate academic majors.

Senior partner Joseph H. Flom said the firm decided “to go big time” when six months ago a committee of Skadden partners was formed to contemplate a public interest initiative in observance of the firm’s 60th anniversary.

Through his family’s private foundation, Mr. Flom has long been involved with programs at City College, among the nation’s most racially and ethnically diverse campuses.

“The main thing is to create a pipeline for minorities available for law firms to hire,” said Mr. Flom, who called the initiative “ground-breaking.”

Supporting one or two minority students at a time means “they don’t have a peer study group to reinforce each other. That’s why we decided to go big” by preparing 100 minority students each year to enter the nation’s law schools.

Gregory H. Williams, president of City College, said Skadden’s program is a natural addition to the school’s 160-year tradition of educating poor and working-class students and “not only giving them access to the American dream, but also bringing their talents to every area of American society.”

In financial terms, Skadden’s new honors program at City College surpasses even the Skadden Fellowship Foundation, established in 1988 to commemorate the firm’s 40th anniversary. To date under the fellowship program, one-year public service salaries have been underwritten by the firm for 503 law school graduates.

In addition to curricular work, the City College honors program includes financial assistance based on need and merit, LSAT preparation, counseling during transition from City College to law school, mentoring by Skadden lawyers and others, and paid summer internships at major law firms, corporations and public interest organizations nationwide.

The honors program also will include dormitory rooms for out-of-town applicants, an endowed professorship to oversee the program and campus space to house the Skadden Arps Legal Honors Center, where students may gather informally, for study, or to meet with advisors and adjunct instructors from Skadden and other firms, as well as in-house corporate counsel.

“It’s all a work in progress. We’re going to do whatever it takes,” said Mr. Flom. As for the professorship, he said, “They can name it after me or whoever they want.”

Among the first to sign on as an advisory board member for the project was Dean Elena Kagan of Harvard Law School, Mr. Flom’s alma mater. Another early signatory was Dean Richard L. Revesz of New York University School of Law, who has frequently complained of the legal world’s historically low ratio of minority attorneys.

According to U.S. Census Bureau statistics over the past several years, only 11 percent of the nation’s approximately 1 million lawyers come from the minority population, compared with 25 percent of physicians and surgeons, 21 percent of accountants and auditors, and 18 percent of college and university teachers.

Feeder institutions for the nation’s law schools tend to graduate students considerably more affluent than those at City College, founded in 1847 as The Free Academy. City College has served many generations of poor and immigrant students, along with those who faced religious and ethnic discrimination. It was tuition-free until 1975.


Citigroup Inc has won the dismissal of much of a multibillion-dollar New Jersey lawsuit over its alleged role in the 2003 collapse of Parmalat SpA, the Italian food company.

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Citigroup Inc has won the dismissal of much of a multibillion-dollar New Jersey lawsuit over its alleged role in the 2003 collapse of Parmalat SpA, the Italian food company.

The largest U.S. bank still faces a May 5 jury trial in the case. But Tuesday’s ruling by Judge Jonathan Harris of Bergen County Superior Court could lead to a settlement of the lawsuit, which had sought more than $7 billion and is one of dozens of cases stemming from Europe’s largest bankruptcy.

Harris ruled that Parmalat Chief Executive Enrico Bondi may pursue a claim that Citigroup aided and abetted a breach of fiduciary duties by corrupt, former Parmalat insiders who stole from the company.

“There are factual disputes that swirl around this controversy; thus, a trial on Bondi’s grievances regarding insider pillage and plunder is required,” the judge wrote in a 58-page opinion.

The judge, however, threw out Parmalat claims that alleged fraud, racketeering and unjust enrichment, and a claim for punitive damages. The racketeering claim could have resulted in triple damages under state law. Harris let Citigroup pursue its own claims against Parmalat, including fraud and theft.

“The number of counts that survive to go to trial is not necessarily indicative of the size of potential liability,” said Gregory Mark, a corporate law professor at Rutgers University. He added, however: “A decision like this makes it much more likely that the case will settle.”

Citigroup, in a statement, said it was pleased with the ruling, and looked forward to “vindication on the remaining claims and on our counterclaims for the losses we suffered as a victim of Parmalat’s admitted fraud.” The New York-based bank has said it lost $700 million.

Parmalat characterized the ruling as having “narrowed Parmalat’s claims and the measure of damages.” The scope of potential remaining damages was not immediately clear.

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