Kasowitz, Benson, Torres & Friedman Law Firm Profile

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Kasowitz, Benson, Torres & Friedman LLP

  • Designation: New York
  • Head Count: 372
  • Gross Revenues: $229,500,000
  • Revenue Per Lawyer: $615,000
  • Profits Per Partner: $1,450,000
  • Year Over Year Change: -6

Kasowitz, Benson, Torres & Friedman is a New York-based law firm with 7 offices across the U.S. With $245,500,000 in gross revenue in 2010, Kasowitz, Benson, Torres & Friedman ranked 118th in the 2011 edition of The American Lawyer's Am Law 200. The firm has grown to more than 355 attorneys, and according to the National Law Journal's 2012 NLJ 350 rankings of firms by size, Kasowitz was listed as the 121st largest firm in the U.S. In addition to its New York headquarters, the firm has offices in Houston, Atlanta, Miami, San Francisco, Silicon Valley, and Newark. The firm is focused on all types of commercial litigation: Antitrust Litigation, Complex Financial Products Litigation, Corporate, Creditors' Rights and Bankruptcy, Employment Practices and Litigation, Environmental Litigation, Financing Litigation, General Commercial Litigation, Insurance Recovery, Intellectual Property Litigation, International Arbitration, Mass Tort and Product Liability, Matrimonial and Family Law, Real Estate Litigation and Transactional, Securities Litigation and White Collar Criminal Defense and Investigations.

Firm Rankings

Survey Rank Year Over Year Change Description
Am Law 100 NR N/A Gross revenue
Am Law 200 130 -6 Gross revenue
NLJ 250 117 3 Lawyer head count
The A-List NR N/A Overall excellence
Pro Bono Scorecard 97 21 Pro-bono commitment
Diversity Scorecard 37 -4 Minority head count
Midlevel Associates Survey NR N/A Job satisfaction
Summer Associates Survey 47 -32 Summer programs

In the News

Goldman Mulls Deal as Banks Suffer New Blow in FHFA Cases

Jan Wolfe : The Litigation Daily : January 28, 2014

With trial approaching for Goldman, RBS, HSBC and Nomura, a judge rejected the argument that Fannie Mae and Freddie Mac knew they were being misled about billions of dollars in residential mortgage-backed securities they purchased before the financial crisis.

Judge Upholds Corporate Veil in Home Construction Case

Brendan Pierson : New York Law Journal : January 24, 2014

A Suffolk judge has refused to pierce the corporate veil against the principal of a construction company to enforce a $2.2 million judgment over a failed project, ruling that the plaintiffs failed to show that the principal misused the corporate form and deliberately dissipated the company's assets.

Discovery: The Next Phase of RMBS Gridlock

Suevon Lee : Commercial Litigation Insider : January 23, 2014

In back to back discovery rulings last week, Manhattan Justice Shirley Kornreich put a lid on how much information plaintiffs could obtain from Credit Suisse and Goldman Sachs about their roles structuring residential mortgage loan securities in the run-up to the financial crisis.

Lloyd's Can't Duck Claims Over MBIA Restructuring Fight

David Bario : The Litigation Daily : January 17, 2014

After toiling through four years of litigation related to MBIA Inc.'s 2009 restructuring, the bond insurer's lawyers at Kasowitz Benson won a ruling this week that puts Lloyd's of London and other underwriters on the hook for a hefty portion of MBIA's defense tab.

Big Tobacco Trumps Plaintiffs Bar By Using Technicality In Offer Of Judgment

Noreen Marcus : Daily Business Review : January 07, 2014

Douglas Eaton, who handles appeals for tobacco plaintiffs at Eaton and Wolk, said Big Tobacco defense lawyers are extremely skilled and "will find any hypertechnical flaw."

Big Tobacco Trumps Plaintiffs Bar By Using This Technicality

Noreen Marcus : Daily Business Review : January 07, 2014

Douglas Eaton, who handles appeals for tobacco plaintiffs at Eaton and Wolk, said Big Tobacco defense lawyers are extremely skilled and "will find any hypertechnical flaw."

Nomura Breach Claim in RMBS Suit Not Time-Barred, Judge Finds

Suevon Lee : Commercial Litigation Insider : January 30, 2014

Another loan repurchase action involving $254 million in residential mortgage-backed securities sailed through the pleadings stage after a Manhattan Commercial Division judge denied dismissal of most claims in a recent decision.

Family Recovers $60,000 For Lung Cancer Death

: Daily Business Review : January 25, 2014

Banks Cite Superfund Ruling in New Bid to Beat FHFA Claims

Jan Wolfe : The Litigation Daily : January 23, 2014

Three hold-out banks that have refused to settle with the FHFA—Nomura, HSBC and Goldman Sachs—rehashed old arguments to defeat claims that they misled Fannie Mae and Freddie Mac about the riskiness of billions of dollars in securities backed by home loans.

Smoker's Family Awarded $5.3 Million

VerdictSearch : Daily Business Review : January 11, 2014

Family of smoker awarded $5.3 million

: VerdictSearch : January 04, 2014

The 2014 Am Law 200: Our Exclusive Report

: The American Lawyer : January 29, 2014

A year after going on a hiring binge, Am Law Second Hundred firms were left to tally up whether gambling on growth had paid off. In many instances, the answer was 'no.'

Am Law Second Hundred Firms of Note: Kasowitz Benson

Jan Wolfe : The American Lawyer : January 29, 2014

As suits stemming from the financial crisis end, the New York firm's profits fall.

Tobacco maker not liable for smoker's ills

: VerdictSearch : January 28, 2014

The Churn: Patton, Squire Make Hires, Plus More Lateral Moves

Brian Baxter : The Am Law Daily : January 16, 2014

Squire Sanders and Patton Boggs add lawyers as their merger talks move toward a resolution, Troutman opens in Charlotte and bankruptcy boutiques get busy.

Man who argued cigarettes gave him lung cancer gets $59,400

: Daily Business Review : January 14, 2014

Disclaimers Do Not Shield CDO Sellers From Liability, Panel Says

Brendan Pierson : New York Law Journal : January 12, 2014

Justice Dianne Renwick, writing for the First Department panel, acknowledged that disclaimers such as the ones in the CDO deals at issue often bar fraud claims. "But there is a limit to the efficacy of those disclaimers, as this case aptly demonstrates," she said.

Disclaimers Do Not Shield CDO Sellers From Liability, Panel Says

Brendan Pierson : New York Law Journal : January 09, 2014

Justice Dianne Renwick, writing for the First Department panel, acknowledged that disclaimers such as the ones in the CDO deals at issue often bar fraud claims. "But there is a limit to the efficacy of those disclaimers, as this case aptly demonstrates," she said.

Howrey Trustee Racks Up Deals With Ex-Partners, Firms

Julie Triedman : The Am Law Daily : January 07, 2014

Allan Diamond raises more than $5 million by reaching settlements with four firms and 60 former partners.

Kasowitz Gets Green Light to Challenge Goldman's ABACUS Win

Jan Wolfe : The Litigation Daily : January 02, 2014

A year after dismissing the case, an intermediate appeals court in New York has agreed to let ACA Financial Guaranty Corp take its long-running fraud case against Goldman Sachs & Co. to the state's highest court.

Marketplace

Monica Paquette : New York Law Journal : January 30, 2014

In a string of new leases, several investment companies will join the roster at Boston Properties, 250 W. 55th St., at Eighth Avenue. Also, media group Thomson Reuters, headquartered at 3 Times Square, has signed an expansion lease with at Waterfront Corporate Center II in Hoboken, N.J.

Jenner & Block: Squeezed by the Sequester

Susan Beck : The American Lawyer : January 28, 2014

A slowdown in government spending takes its toll on the firm's profits per partner.

Sharp Drop in Dickstein Net Income

Katelyn Polantz : The National Law Journal : January 21, 2014

Dickstein Shapiro faced its worst year in more than a decade after contingency cases didn't pull in income and the firm restructured, chairman James Kelly said in an interview. He called 2013 an "investment year."

IN BRIEF: Apartheid Liability

: The National Law Journal : January 21, 2014

A federal judge ruled on April 17 that victims of South African apartheid can seek compensation from three Fortune 100 companies under the Alien Tort Statute, directly contradicting a U.S. Court of Appeals for the Second Circuit ruling in another case implicating that law. Plus more from NLJ.com and other ALM publications.

On the Move: Towey Joins Sedgwick as Partner

: New Jersey Law Journal : January 19, 2014

New hires for Sedgwick, Parker McCay, and more N.J. firms.

Marketplace

Monica Paquette : New York Law Journal : January 16, 2014

The Kaufman Organization, in a new joint venture with Principal Real Estate Investors, has signed a 99-year net lease with Extell Development Company to redevelop four vacant Manhattan commercial buildings in Midtown South.

Profit Pressure Prompting Firm Leaders to Swing Ax

Julie Triedman : The Am Law Daily : January 15, 2014

Six Am Law 200 firms have now confirmed layoffs of staffers this year.

Akin, Milbank Help Broker Big Matzo Swap

Brian Baxter : The Am Law Daily : January 11, 2014

With Passover approaching, Akin Gump Strauss Hauer & Feld and Milbank, Tweed, Hadley & McCloy grabbed seats at the table as The Manischewitz Company—one of the few remaining matzo makers in the U.S.—saw its ownership transfer from one privately held entity to another.

JPMorgan Can't Dodge Online Payment Patent Claims

Jan Wolfe : The Litigation Daily : January 09, 2014

When inventor Lakshmi Arunachalam gets involved in patent cases, strange things can happen. But one of her latest cases quietly cleared a hurdle this week, leaving JPMorgan Chase & Co. facing claims that it infringed patents by letting its customers pay bills online.

Litigation Funder Now Firm's Adversary in Judgment Dispute

Suevon Lee : Commercial Litigation Insider : January 01, 2014

Partners at a boutique Manhattan law firm allege they were under "extreme duress" when they signed affidavits agreeing to pay more than $1.7 million to a litigation financing company that provided initial funding to the firm to pursue cases.

Reargument in Ace II Denied, Stage Set for Direct Appeal

Suevon Lee : Commercial Litigation Insider : January 27, 2014

The Appellate Division, First Department denied a trustee's motion for re-argument or, in the alternative, leave to appeal to the state's highest court a December 2013 decision concerning the statute of limitations in RMBS put-back cases.

Litigator of the Week: Orin Snyder of Gibson, Dunn & Crutcher

Jan Wolfe : The Litigation Daily : January 27, 2014

Paul Ceglia claimed in a 2010 lawsuit that Facebook's founder promised him a 50 percent stake in the company. Now Ceglia's fighting criminal fraud charges for bringing the case, and Snyder's relishing a slam-dunk victory.

The Am Law 100, the Early Numbers: Kasowitz Feels Sting as Big Cases End

Jan Wolfe : The Am Law Daily : January 26, 2014

Litigation-focused Kasowitz Benson Torres & Friedman saw its gross revenue fall 8 percent, to $229.5 million, and its profits per equity partner plunge 15 percent, to $1.45 million, according to The American Lawyer's reporting.

Skadden to Settle Fletcher Bankruptcy Case for $4.25 Million

Tom Huddleston Jr. : The Am Law Daily : January 24, 2014

While disputing a court-appointed trustee's claim that it had not "adequately" protected former client Alphonse "Buddy" Fletcher Jr.'s hedge funds and those who invested in them, Skadden, Arps, Slate, Meagher & Flom has agreed to pay $4.25 million to avoid any potential legal claims stemming from the bankruptcy of one of those funds.

The Am Law 100, the Early Numbers: Jenner's Profits Plunge 17 Percent

Susan Beck : The Am Law Daily : January 17, 2014

Jenner & Block had a down year in 2013, with gross revenue off nearly 8 percent, to $357.5 million, and profits per partner plummeting 17 percent, to $1.235 million, according to The American Lawyer's reporting.

Kasowitz Takes Aims at Insurers for MBIA Legal Fees

Jan Wolfe : The Litigation Daily : January 17, 2014

Kasowitz, Benson, Torres & Friedman guided MBIA Inc. through many of its legal battles stemming from the financial crisis. Can the firm now help MBIA recoup millions of dollars in legal fees from its insurers?

Kasowitz Layoffs Tied to End of Credit Crisis Cases

Christine Simmons : New York Law Journal : January 21, 2014

Kasowitz, Benson, Torres & Friedman has laid off about 30 people, including associates, counsel, partners and non-attorney staff, according to a firm attorney close to the situation who said the layoffs were the result of a number of large cases nearing their resolution last year.

The Am Law 100, the Early Numbers: Latham Maintains Peak in Dell's Parting Year

Michael D. Goldhaber : The Am Law Daily : January 19, 2014

Starting the year at an all-time high financially in 2013, Latham & Watkins made modest gains across in the key fiscal categories, growing gross revenue 2.7 percent, profits per partner 2 percent, and revenue per lawyer 1.4 percent, according to The American Lawyer reporting.

Paul Weiss Strikes Out for Contorinis, Scores for Citi at Second Circuit

Jan Wolfe : The Litigation Daily : January 18, 2014

The firm couldn't reverse a ruling that a client convicted of insider trading must disgorge $7 million. But it did finish off a fraud case brought against longtime client Citigroup Inc. by a group of Norwegian investors represented by Kasowitz Benson Torres & Friedman.

Banks' Bill in FHFA Cases: $9 Billion and Counting

Jan Wolfe : The Litigation Daily : January 05, 2014

The latest blockbuster settlement was announced late Tuesday, when Morgan Stanley revealed it would pay $1.25 billion for selling faulty mortgage-backed securities to Fannie Mae and Freddie Mac.

New York Sees Growth in Partner Promotions

Christine Simmons : New York Law Journal : January 03, 2014

A survey of New York's largest firms shows a slight uptick in the number of lawyers promoted to partner last year. The number of new partners firmwide at remained almost even from the number in 2012.