Law Firms

DLA Piper is slashing salaries for its U.S. associates in conjunction with an announcement that the law firm is shifting to merit-based compensation.

Law Firms /

DLA Piper is slashing salaries for its U.S. associates in conjunction with an announcement that the law firm is shifting to merit-based compensation. The law firm will reduce first-year associate salaries in major markets from $160,000 to $145,000. First-year salaries of $145,000 in other cities will drop to $130,000. It will cut salaries at other […]

DLA Piper is slashing salaries for its U.S. associates in conjunction with an announcement that the law firm is shifting to merit-based compensation. Read More »

Marc Dreier, the New York law firm founder accused of defrauding hedge funds by selling $700 million in phony promissory notes, might face life in prison after pleading guilty to fraud charges.

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Dreier3

Marc Dreier, the New York law firm founder accused of defrauding hedge funds by selling $700 million in phony promissory notes, might face life in prison after pleading guilty to fraud charges. Dreier, who turned 59 today, pleaded guilty in federal court in New York to charges of money laundering, conspiracy, securities fraud and wire

Marc Dreier, the New York law firm founder accused of defrauding hedge funds by selling $700 million in phony promissory notes, might face life in prison after pleading guilty to fraud charges. Read More »

Four attorneys from Clifford Chance’s litigation department in New York have left to set up an arbitration boutique.

Law Firms /

A four-partner litigation team from Clifford Chance’s New York office has left the firm to set up an arbitration boutique. Disputes partners Peter Chaffetz, David Lindsey, Charlie Scibetta and James Hosking have left the Magic Circle firm to launch Chaffetz Lindsey — which officially opened Tuesday. The new firm, which also includes former Clifford counsel

Four attorneys from Clifford Chance’s litigation department in New York have left to set up an arbitration boutique. Read More »

Lawyers say employer clients want to know what they can do within the law to contain the swine flu if it strikes their workplaces. Attorneys for workers say lawmakers need to adopt protections for parents who might miss work because of school closures or a child’s illness.

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Swineflu

There are fewer than 250 cases of swine flu in the United States, but its fervor may prove more contagious than its fever. The legal community is not immune. Lawyers say employer clients want to know what they can do within the law to contain the swine flu if it strikes their workplaces. Attorneys for

Lawyers say employer clients want to know what they can do within the law to contain the swine flu if it strikes their workplaces. Attorneys for workers say lawmakers need to adopt protections for parents who might miss work because of school closures or a child’s illness. Read More »

Convicted conman Bernard Madoff turned his investment firm into his “personal piggy bank,” using tens of millions of dollars in client funds to cover costs for employees and family members, court papers say.

Law Firms /

Convicted conman Bernard Madoff turned his investment firm into his “personal piggy bank,” using tens of millions of dollars in client funds to cover costs for employees and family members, court papers say. Madoff used money from his firm, Bernard L. Madoff Investment Securities LLC, to pay loans, satisfy capital calls, fund real estate purchases

Convicted conman Bernard Madoff turned his investment firm into his “personal piggy bank,” using tens of millions of dollars in client funds to cover costs for employees and family members, court papers say. Read More »

Across the United States, lawyer assistance programs are seeing demand for their services grow as the economy struggles.

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Depressiontest

The Illinois Lawyers’ Assistance Program had its busiest month on record in April. The organization, which helps attorneys deal with problems like depression and substance abuse, had 42 new referrals — nearly twice the monthly average in 2008. The phenomenon isn’t limited to Illinois. Across the country, lawyer assistance programs are seeing demand for their

Across the United States, lawyer assistance programs are seeing demand for their services grow as the economy struggles. Read More »

All but three of the most profitable New York law firms saw profits per partner fall, the American Lawyer reports.

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Lawbooks

What has the world come to when Cravath, Swaine & Moore has a terrible year? The firm that has served for decades as the touchstone for prestige in the profession last year suffered a 13 percent drop in revenue and a 24 percent plunge in profits per partner, and has asked incoming first-year associates to

All but three of the most profitable New York law firms saw profits per partner fall, the American Lawyer reports. Read More »

Many American presidents have been lawyers, but almost none have come to office with Barack Obama’s knowledge of the Supreme Court. Before he was 30, he was editing articles by eminent legal scholars on the court’s decisions. Later, as a law professor, he led students through landmark cases from Plessy v. Ferguson to Bush v. Gore.

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Obamalaw

Many American presidents have been lawyers, but almost none have come to office with Barack Obama’s knowledge of the Supreme Court. Before he was 30, he was editing articles by eminent legal scholars on the court’s decisions. Later, as a law professor, he led students through landmark cases from Plessy v. Ferguson to Bush v.

Many American presidents have been lawyers, but almost none have come to office with Barack Obama’s knowledge of the Supreme Court. Before he was 30, he was editing articles by eminent legal scholars on the court’s decisions. Later, as a law professor, he led students through landmark cases from Plessy v. Ferguson to Bush v. Gore. Read More »

AmLaw Daily spent the morning digging into some of the filings already crowding the Chrysler bankruptcy docket, but it’s going to be a while before we find one more interesting than Jones Day’s application to be Chrysler’s lead counsel.

Law Firms /
Chrysler

AmLaw Daily spent the morning digging into some of the filings already crowding the Chrysler bankruptcy docket, but it’s going to be a while before we find one more interesting than Jones Day’s application to be Chrysler’s lead counsel. The firm already has billed Chrysler a smidgen more than $18.5 million since Chrysler paid the

AmLaw Daily spent the morning digging into some of the filings already crowding the Chrysler bankruptcy docket, but it’s going to be a while before we find one more interesting than Jones Day’s application to be Chrysler’s lead counsel. Read More »

Too many lawyers are chasing too little work. And meanwhile a number of law firms are effectively serving as bankers for cash-strapped clients struggling in a difficult economy.

Law Firms /
Recession

Too many lawyers are chasing too little work. And meanwhile a number of law firms are effectively serving as bankers for cash-strapped clients struggling in a difficult economy. After a “disastrous” fourth quarter in 2008, many law firms can expect an even more worrisome 2009, writes Dan DiPietro in the Am Law Daily. He serves

Too many lawyers are chasing too little work. And meanwhile a number of law firms are effectively serving as bankers for cash-strapped clients struggling in a difficult economy. Read More »

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