The Dewey & LeBoeuf estate has failed in its effort to squelch a proposed class action that claims the firm gave 550 employees inadequate notice before terminating them weeks before filing for Chapter 11 protection last May.
Tuesday brought news of another big settlement in the milk price-fixing case spearheaded by Baker & Hostetler's Robert Abrams. The deal promises reforms for the dairy market in the southeast, and an injection of new cash to fight over in the bankruptcy of Abrams' former firm, Howrey LLP.
Lehman Brothers Holdings Inc. closed out 2012 by reaching a $149.5 million settlement with Canadian Imperial Bank of Commerce, one of the many banks accused by LBHI of stiffing Lehman under collateralized debt obligation deals cooked up in flusher times.
Things may be looking up for victims of convicted Ponzi artist R. Allen Stanford. On Wednesday court-appointed Stanford receiver Ralph Janvey and his lawyers at Baker Botts agreed to make nice with the folks liquidating the fraudster's Antiguan bank, with both sides vowing to work together to recover assets for investors.