Editor's Picks

Paul Tosetti and Cary Hyden

Dealmakers of the Week: Cary Hyden and Paul Tosetti of Latham & Watkins

By MP McQueen |

The two corporate partners led the deal for Latham & Watkins' representation of Allergan in a hotly contested takeover battle against Valeant Pharmaceuticals that ended with the company being bought by Actavis plc.

Simpson Thacher Sets High Bar With Associate Bonuses

By Nathalie Pierrepont |

Cravath, Swaine & Moore has long kicked off associate bonus season, but this year saw Simpson Thacher & Bartlett beat its Wall Street rival to the punch with a Friday announcement that was soon followed by Paul, Weiss, Rifkind, Wharton & Garrison.

Key Ruling Brings Thelen Bankruptcy Closer to Conclusion

By Julie Triedman |

A bankruptcy judge in Manhattan brought Thelen LLP a giant step closer to a final resolution of its Chapter 7 liquidation, ruling Thursday that partners who haven't yet settled with the bankrupt firm's estate have to pay back monthly draws they received during the now-defunct firm's final year.

Law and Football: Rankings Doublethink

By Steven J. Harper |

Some creators of ranking systems try to avoid responsibility for the behavior their rankings produce.

Morgan Lewis Offers 300 Bingham Professionals Full-Time Jobs

By Gina Passarella |

Morgan, Lewis & Bockius has extended offers of full-time employment to more than 300 legal professionals at Bingham McCutchen, a source close to Morgan Lewis said.

Small Virginia Firm and Solo Shop Beckon Reed Smith Litigators

By Brian Baxter |

Two Reed Smith partners have left the firm for wildly different opportunities. Richard "Rip" Sullivan Jr. became a partner at Arlington, Va.-based Bean Kinney & Korman, which recently saw its managing partner hospitalized after a brutal stabbing. Meanwhile, Pittsburgh-based litigator Bruce Stanley, a longtime nemesis of recently indicted former Massey Energy CEO Don Blankenship, launched his own solo shop to focus on representing the families of victims killed or injured in mining accidents.

Am Law Trio Reaps Rewards From Record REIT IPO

By Brian Baxter |

Goodwin Procter, Hogan Lovells and Willkie Farr & Gallagher grabbed roles this week on a $2.29 billion initial public offering for Paramount Group, the largest-ever public listing for a real estate investment trust.

Morgan Lewis

Bingham's Kentucky Staffers Face Layoffs, Uncertain Future

By Nathalie Pierrepont |

Bingham McCutchen employees in its Lexington, Ky., back offices have received a mix of termination letters and offer letters from Morgan Lewis, which last week agreed to absorb 226 of the firm's partners, along with other staff. Come Friday, as many as 30 marketing and document review employees in Kentucky could be let go, according to two sources, and the remainder must decide whether to accept Morgan Lewis' offers or potentially forgo severance.

Report: Chinese Oil Giant Severs Baker & McKenzie Ties

By MP McQueen |

The Wall Street Journal reports that Chinese oil and gas company CNOOC cut its ties to Baker & McKenzie because of alleged conflicts of interest between an in-house lawyer and her husband, the firm’s chief representative in Beijing.

Andrew Levander (L), David Bernick (R)

Dechert’s Lateral Hires Take Lead for Troubled Airbag Maker Takata

By Brian Baxter |

The embattled Japanese auto parts company has retained a high-powered defense team from Dechert to handle a criminal probe, congressional inquiry and class action litigation related to a growing scandal into defective airbags.

Korea's Competitive Legal Market Puts Pressure on Price

By Nathalie Pierrepont |

Since free trade agreements opened the country's legal market to foreign firms in 2012, some 20 U.S. and U.K. firms have planted flags in Seoul, putting pressure on legal fees and ramping up competition between foreign and local firms.

Flexibility Trumps Mentoring

By Vivia Chen |

Forget mentoring, sponsorship and empowerment.

The Churn

Sidley Austin Snags Houston Duo, Plus More Lateral Moves

By Brian Baxter |

Two Andrews Kurth partners peel off for Sidley Austin in Houston's hot lateral market; a handful of firms make big hires in London; Blank Rome adds a pair from Bingham McCutchen; and other notable moves from throughout The Am Law 200.

Bingham McCutchen May Be Playing the Bluegrass Blues

By Nathalie Pierrepont |

Morgan, Lewis & Bockius has agreed to take on 226 partners from Bingham McCutchen, but uncertainty looms for the latter’s back office in Kentucky, opened two years ago.

Jones Day Is Not Amused

By Vivia Chen |

Jones Day accuses the Careerist of lacking professionalism, integrity and more.

DLA Piper's Turkey Office Demerges From Firm

By Chris Johnson |

DLA Piper's Turkish office has demerged from the firm to reestablish itself as an independent practice.

Wachtell Rides Allergan, Halliburton to $100 Billion Deal Day

By MP McQueen |

The Am Law 100's most profitable firm on a per partner basis took the lead on two big deals announced Monday: Halliburton's $34.6 billion acquisition of oil services rival Baker Hughes and Botox maker Allergan on its proposed $66 billion sale to Actavis. A half-dozen other Am Law 100 firms also had key roles on both transactions.

As Bingham Partners Prepare for Exodus, Some Find Themselves 'Frozen'

By Brian Baxter and Patience Haggin |

Morgan, Lewis & Bockius is gearing up to absorb 226 partners from Bingham McCutchen by month's end. But some partners from the latter not making the move are finding themselves stuck until Dec. 1. Meanwhile, The Am Law Daily has also identified the top Bingham McCutchen rainmakers headed to Morgan Lewis.

Jackson Lewis to Eliminate Billable Hours for Associates

By Nathalie Pierrepont |

The labor and employment firm is taking another step toward increasing associate efficiency by getting rid of the billable hour as an evaluative tool for measuring performance and awarding bonuses.

Chasing Tech Work, Canada's Law Firms Embrace Innovation

By Julie Triedman |

A small, enthusiastic community of lawyers is providing legal advice—and more—to a new generation of Canadian startups.

The Churn

Bingham, Edwards Wildman Partners Defect, Plus More Lateral Moves

By Brian Baxter |

Edwards Wildman Palmer and Bingham McCutchen lawyers head for the exits; Kirkland & Ellis hires again from Covington & Burling; a quick turnaround for two Quinn Emanuel litigators; government roles beckon some big firm partners and other notable hires from throughout The Am Law 200.

Freshfields Helps Hachette Strike Deal With Amazon

By Nathalie Pierrepont |

After months of sparring, Hachette Book Group and Amazon.com agreed Thursday to let the New York-based publisher set its own prices for e-books. Freshfields Bruckhaus Deringer represented Hachette, while Amazon handled the matter in-house.

Dealmaker of the Week: Mary Ann Todd of Munger Tolles

By MP McQueen |

Todd, a corporate partner at Munger, Tolles & Olson, led the firm's deal team on Berkshire Hathaway's $4.7 billion all-stock buy of Procter & Gamble's Duracell battery unit.

Morgan Lewis Votes to Admit 227 Bingham Partners

By Brian Baxter and Gina Passarella |

Morgan, Lewis & Bockius partners voted early Friday afternoon to admit 227 Bingham McCutchen partners into their fold, according to the firm. But not everyone at Bingham McCutchen will be making the move.

Charleston School of Law Sol Blatt Jr. Law Library

InfiLaw and the ABA

By Steven J. Harper |

The ABA has finally weighed in on InfiLaw's proposed acquisition of the Charleston School of Law—sort of.

Report: Revenues, Hours and Profits Rise at Largest Firms

By MP McQueen |

In what appears to be a strengthening recovery, legal industry revenues and demand increased in the first nine months of the year over the same period last year, according to an analysis of law firm financial results by Wells Fargo Private Bank's Legal Specialty Group.

Female Empowerment, Southern Style

By Vivia Chen |

Forget making law review or working your butt off. There are other ways to launch your career.

Kirkland & Ellis Partner Claims FIFA Report Misrepresents Findings

By Nathalie Pierrepont |

FIFA, the Zurich-based governing body for global soccer, released a summary of its investigation into the World Cup bidding process on Thursday, clearing Russia and Qatar of wrongdoing. But the head of the investigatory branch of the organization's ethics committee disagrees.

States' Projected Lawyer Surpluses Deteriorate for 2022

By Matt Leichter |

Analysis of states' employment projections shows higher ratios of lawyers and law graduates to jobs, but improvement is likely with fewer law students.

Four Ways to Succeed in the Big Data Age

By Peter D. Zeughauser |

The best companies relentlessly collect, analyze and capitalize on customer data. Law firms don't. That can't continue.