Paul, Weiss, Rifkind, Wharton & Garrison Law Firm Profile

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IN-DEPTH RESEARCH REPORT
on Paul, Weiss, Rifkind, Wharton & Garrison LLP

  • - Financial Information
  • - Compensation
  • - Billing Rates
  • - Lateral Partner Moves
  • - Pro bono
  • - Key Contacts

Paul, Weiss, Rifkind, Wharton & Garrison LLP

  • Designation: New York
  • Head Count: 854
  • Gross Revenues: $934,500,000
  • Revenue Per Lawyer: $1,095,000
  • Profits Per Partner: $3,620,000
  • Year Over Year Change: -3

Paul, Weiss, Rifkind, Wharton & Garrison is a New York-based law firm.  According to the National Law Journal's 2014 NLJ 350 ranking of firms based on size, Paul, Weiss, Rifkind, Wharton & Garrison has 854 attorneys and is the 34th largest firm in the United States.  With $934,500,000 in gross revenue in 2013, the firm placed 28th on The American Lawyer's 2014 Am Law 200 ranking.  On the 2012 Global 100 survey, Paul, Weiss, Rifkind, Wharton & Garrison ranked as the 32nd highest grossing law firm in the world.  The firm has offices in DC, DE, London, NY, Ontario and Paris.

Firm Rankings

Survey Rank Year Over Year Change Description
Am Law 100 28 -3 Gross revenue
Am Law 200 28 -3 Gross revenue
NLJ 250 34 8 Lawyer head count
The A-List 19 -5 Overall excellence
Pro Bono Scorecard 46 0 Pro-bono commitment
Diversity Scorecard 21 -7 Minority head count
Midlevel Associates Survey 46 -19 Job satisfaction
Summer Associates Survey 101 -10 Summer programs

In the News

Movers

: The National Law Journal : September 01, 2014

Lateral moves and new arrivals in this week's column.

Dealmakers of the Week: Kirkland & Ellis' Sorabella and Feirstein

MP McQueen : The Am Law Daily : August 28, 2014

As lead advisers for Burger King on its $11.4 billion tie-up with Canadian coffee-and-doughnut chain Tim Hortons, William Sorabella and David Feirstein helped oversee one of the most visible corporate tax inversions yet.

New Deals

: The Am Law Daily : August 28, 2014

Burger King Worldwide Inc. and Canadian chain Tim Hortons Inc. have agreed to an $11.4 billion tie-up that would send the combined company's headquarters north in what may be the most visible corporate tax inversion yet. Also, Roche Holding announced Monday its $8.3 billion acquisition of InterMune, a suburban San Francisco-based company lung disease drug developer.

Asia Deal Digest: Aug. 28, 2014

Anna Zhang : The Asian Lawyer : August 28, 2014

*Kirkland & Ellis advises Orchid Asia on $920 million China fund*HSF, KWM lead AGL's $1.1 billion rights issue for MacGen acquisition*Simpson Thacher, Gunderson Dettmer on Murata's $465 million acquisition of chipmaker Peregrine

Big Suits

Jan Wolfe : The American Lawyer : August 27, 2014

U.S. v. Rajaratnam; In Re Electronic Books Antitrust Litigation; In re ITT Educational Services Securities Litigation; U.S. v. Citigroup

Twenty-Five Things Your Associates Want You to Know

Ross Todd : The American Lawyer : August 27, 2014

The one thing that midlevels want to tell their managing partner.

Burger King, Tim Hortons Feed on Inversion Frenzy

MP McQueen : The Am Law Daily : August 26, 2014

The two fast-food chains have agreed to an $11.4 billion tie-up that would send the combined company's headquarters up to Canada in the latest controversial tax inversion. Advising on the deal are Kirkland & Ellis, Paul Weiss, Wachtell and Munger Tolles, along with Canadian firms Davies Ward and Osler, Hoskin & Harcourt.

Broad Support for 'Exemplary' Inmate Turns Tide on Parole

John Caher : New York Law Journal : August 25, 2014

Just weeks after enduring scathing criticism in an Appellate Division dissent, the state Board of Parole has voted unanimously to release a man it had denied on seven prior occasions.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

With BoA Settlement Comes Shift in Work for Law Firms

Julie Triedman : The Am Law Daily : August 25, 2014

Bank of America Corp.'s $16.65 billion settlement announcement, and the tailing off of the government's enforcement actions, promises to affect a swath of top-tier Wall Street firms. But lawyers at the banks' primary outside counsel said that work continues to flow.

Personal Notes on Lawyers

: New York Law Journal : August 25, 2014

Paul Weiss has added as partner Elizabeth Sacksteder from Citigroup; Arnold & Porter has added Alexander Shaknes, late of Winston & Strawn; and Bingham McCutchen has added former assistant U.S. attorney David Miller, among other moves and announcements.

BofA Deal Marks End Of an Era

Julie Triedman and Jenna Greene : The National Law Journal : August 25, 2014

With Bank of America Corp.'s $16.7 billion settlement over the marketing and sale of subprime residential mortgage-backed securities, prosecutors closed out the largest remaining government enforcement actions stemming from the financial crisis.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

BAR-ometer

: The Recorder : August 22, 2014

The In-house Counsel Whose Name Is on the BoA Settlement

Sue Reisinger : Corporate Counsel : August 22, 2014

Jana Litsey, deputy general counsel of Bank of America Corp., signed the largest settlement ever reached between the federal government and a company. Twice.

Lawyer Begs Court's Mercy for Costly Missed Deadline

Marisa Kendall : The Recorder : August 22, 2014

Paul Weiss partner Kenneth Gallo asked the judge presiding over a large price-fixing MDL to blame him, but not penalize his client, Sharp Electronics.

With BofA Settlement Comes Shift in Work for Firms

Julie Triedman : The Am Law Daily : August 21, 2014

Thursday's record $16.65 billion settlement with Bank of America means a winding down of government action against big banks over residential mortgage-backed securities. But several lawyers say the pipeline for firms representing these banks will remain full, as governments worldwide take aim at foreign exchange rate-setting and Office of Foreign Assets Control investigations.

For Paul Weiss Client, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline was "harmless oversight," but a federal judge disagreed.

Katten, Kaye Scholer Skate to Islanders Sale

Brian Baxter : The Am Law Daily : August 20, 2014

Kaye Scholer is counseling the National Hockey League's New York Islanders on its reported $548 million sale to an investor group advised by Katten Muchin Rosenman that will take full control of the franchise in two years. The deal comes a week after Andrew Barroway, a former high-flying Philadelphia plaintiffs lawyer turned hedge fund executive, retained Blank Rome to sue the Islanders' current ownership after it allegedly reneged on a handshake deal to sell him the team.

For Paul Weiss Client Sharp, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline in a price-fixing class action was a "harmless oversight," but a federal judge disagreed.

Second Circuit Swats Down Fee Bid in Citi Say-on-Pay Case

David Bario : The Litigation Daily : August 20, 2014

Barely 24 hours after hearing oral arguments, a federal appellate panel refused Wednesday to revive claims that plaintiffs lawyers deserve $6 million in fees for supposedly helping to oust former Citigroup CEO Vikram Pandit and another Citi exec two years ago.

Bingham, Paul Weiss Help Unload World's Largest Iron Foundry

Brian Baxter : The Am Law Daily : August 19, 2014

Japan's Hitachi Metals has agreed to pay $1.3 billion in cash to acquire Wisconsin's Waupaca Foundry, a key supplier to the automotive industry, from private equity firm KPS Capital Partners, a longtime client of Paul, Weiss, Rifkind, Wharton & Garrison. Bingham McCutchen, a firm that recently lost a founder of its Japanese practice, is advising Hitachi on the deal.

Chancery Awards PharmAthene Damages for Expected Profits

Jeff Mordock : The Legal Intelligencer : August 15, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

New Deals

Wenxiong Zhang : The Am Law Daily : August 14, 2014

In a reversal of trend of U.S. companies moving overseas to save on taxes, Walgreens said on Wednesday it would buy the stake in Alliance Boots it doesn't already own, for $15.3 billion in cash and stock but keep its current Illinois tax address once it takes full ownership of the chain. Also, NorthStar Realty Finance Corp. said on Tuesday it would acquire Griffin-American Healthcare REIT II Inc. for approximately $3.4 billion in cash and stock.

Six Firms Assist on Latest Health Care REIT Merger

Brian Baxter : The Am Law Daily : August 13, 2014

Arnold & Porter, Sidley Austin, Shumaker Loop and a trio of leading Canadian firms are advising on a deal that will see Health Care REIT, the largest U.S. health care landlord by market value, acquire HealthLease Properties for $950 million. The transaction value could surge to $2.3 billion when accounting for sidecar deals with Mainstreet Property Group.

Chancery Court Awards PharmAthene Damages for Expected Profits

Jeff Mordock : Delaware Business Court Insider : August 13, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

Law Firms Cash In on Inversion Bonanza

: The Am Law Daily : August 12, 2014

As more U.S. companies seek to lower their tax rates by reincorporating overseas through so-called inversions, at least three dozen U.S. firms have capitalized on the trend, with Skadden, Arps, Slate, Meagher & Flom leading the way.

Top Tax Lawyers Mum on Inversion Debate

Susan Beck : The Am Law Daily : August 12, 2014

More than a decade ago, when corporate inversions came under scrutiny, a group of leading New York tax lawyers—headed by a Paul Weiss partner and including partners from Skadden, Sullivan & Cromwell, and Cravath—took a principled stand and called for urgent action to stop these deals. Twelve years later, a new wave of inversions has sparked controversy and calls for reform. This time the corporate tax bar's lawyers are silent.

INADMISSIBLE: Suit Over Shutdown Pay to Move Forward

: The National Law Journal : August 11, 2014

The federal government violated labor laws by requiring certain employees to work without pay during last year's government shutdown, even though they were paid later on, a federal judge has ruled. Plus more in this week's column.

Rakoff Reluctantly Approves SEC Pact With Citigroup

John Caher : New York Law Journal : August 06, 2014

Southern District Judge Jed Rakoff followed his marching orders and approved a $285 million settlement in a dispute between the SEC and Citigroup, but he left no doubt about what he viewed as a hands-off process dictated by the Second Circuit.

More Profiles:
Choose A Law Firm

IN-DEPTH RESEARCH REPORT
on Paul Weiss Rifkind Wharton & Garrison Llp

  • - Financial Information
  • - Compensation
  • - Billing Rates
  • - Lateral Partner Moves
  • - Pro bono
  • - Key Contacts

Paul Weiss Rifkind Wharton & Garrison Llp

  • Designation: N/A
  • Head Count: N/A
  • Gross Revenues: N/A
  • Revenue Per Lawyer: N/A
  • Profits Per Partner: N/A
  • Year Over Year Change: 0

Paul Weiss Rifkind Wharton & Garrison L is an USA-based law firm.  

Firm Rankings

Survey Rank Year Over Year Change Description
Am Law 100 NR N/A Gross revenue
Am Law 200 NR N/A Gross revenue
NLJ 250 NR N/A Lawyer head count
The A-List NR N/A Overall excellence
Pro Bono Scorecard NR N/A Pro-bono commitment
Diversity Scorecard NR N/A Minority head count
Midlevel Associates Survey NR N/A Job satisfaction
Summer Associates Survey NR N/A Summer programs

In the News

Movers

: The National Law Journal : September 01, 2014

Lateral moves and new arrivals in this week's column.

Dealmakers of the Week: Kirkland & Ellis' Sorabella and Feirstein

MP McQueen : The Am Law Daily : August 28, 2014

As lead advisers for Burger King on its $11.4 billion tie-up with Canadian coffee-and-doughnut chain Tim Hortons, William Sorabella and David Feirstein helped oversee one of the most visible corporate tax inversions yet.

New Deals

: The Am Law Daily : August 28, 2014

Burger King Worldwide Inc. and Canadian chain Tim Hortons Inc. have agreed to an $11.4 billion tie-up that would send the combined company's headquarters north in what may be the most visible corporate tax inversion yet. Also, Roche Holding announced Monday its $8.3 billion acquisition of InterMune, a suburban San Francisco-based company lung disease drug developer.

Asia Deal Digest: Aug. 28, 2014

Anna Zhang : The Asian Lawyer : August 28, 2014

*Kirkland & Ellis advises Orchid Asia on $920 million China fund*HSF, KWM lead AGL's $1.1 billion rights issue for MacGen acquisition*Simpson Thacher, Gunderson Dettmer on Murata's $465 million acquisition of chipmaker Peregrine

Big Suits

Jan Wolfe : The American Lawyer : August 27, 2014

U.S. v. Rajaratnam; In Re Electronic Books Antitrust Litigation; In re ITT Educational Services Securities Litigation; U.S. v. Citigroup

Twenty-Five Things Your Associates Want You to Know

Ross Todd : The American Lawyer : August 27, 2014

The one thing that midlevels want to tell their managing partner.

Burger King, Tim Hortons Feed on Inversion Frenzy

MP McQueen : The Am Law Daily : August 26, 2014

The two fast-food chains have agreed to an $11.4 billion tie-up that would send the combined company's headquarters up to Canada in the latest controversial tax inversion. Advising on the deal are Kirkland & Ellis, Paul Weiss, Wachtell and Munger Tolles, along with Canadian firms Davies Ward and Osler, Hoskin & Harcourt.

Broad Support for 'Exemplary' Inmate Turns Tide on Parole

John Caher : New York Law Journal : August 25, 2014

Just weeks after enduring scathing criticism in an Appellate Division dissent, the state Board of Parole has voted unanimously to release a man it had denied on seven prior occasions.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

With BoA Settlement Comes Shift in Work for Law Firms

Julie Triedman : The Am Law Daily : August 25, 2014

Bank of America Corp.'s $16.65 billion settlement announcement, and the tailing off of the government's enforcement actions, promises to affect a swath of top-tier Wall Street firms. But lawyers at the banks' primary outside counsel said that work continues to flow.

Personal Notes on Lawyers

: New York Law Journal : August 25, 2014

Paul Weiss has added as partner Elizabeth Sacksteder from Citigroup; Arnold & Porter has added Alexander Shaknes, late of Winston & Strawn; and Bingham McCutchen has added former assistant U.S. attorney David Miller, among other moves and announcements.

BofA Deal Marks End Of an Era

Julie Triedman and Jenna Greene : The National Law Journal : August 25, 2014

With Bank of America Corp.'s $16.7 billion settlement over the marketing and sale of subprime residential mortgage-backed securities, prosecutors closed out the largest remaining government enforcement actions stemming from the financial crisis.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

BAR-ometer

: The Recorder : August 22, 2014

The In-house Counsel Whose Name Is on the BoA Settlement

Sue Reisinger : Corporate Counsel : August 22, 2014

Jana Litsey, deputy general counsel of Bank of America Corp., signed the largest settlement ever reached between the federal government and a company. Twice.

Lawyer Begs Court's Mercy for Costly Missed Deadline

Marisa Kendall : The Recorder : August 22, 2014

Paul Weiss partner Kenneth Gallo asked the judge presiding over a large price-fixing MDL to blame him, but not penalize his client, Sharp Electronics.

With BofA Settlement Comes Shift in Work for Firms

Julie Triedman : The Am Law Daily : August 21, 2014

Thursday's record $16.65 billion settlement with Bank of America means a winding down of government action against big banks over residential mortgage-backed securities. But several lawyers say the pipeline for firms representing these banks will remain full, as governments worldwide take aim at foreign exchange rate-setting and Office of Foreign Assets Control investigations.

For Paul Weiss Client, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline was "harmless oversight," but a federal judge disagreed.

Katten, Kaye Scholer Skate to Islanders Sale

Brian Baxter : The Am Law Daily : August 20, 2014

Kaye Scholer is counseling the National Hockey League's New York Islanders on its reported $548 million sale to an investor group advised by Katten Muchin Rosenman that will take full control of the franchise in two years. The deal comes a week after Andrew Barroway, a former high-flying Philadelphia plaintiffs lawyer turned hedge fund executive, retained Blank Rome to sue the Islanders' current ownership after it allegedly reneged on a handshake deal to sell him the team.

For Paul Weiss Client Sharp, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline in a price-fixing class action was a "harmless oversight," but a federal judge disagreed.

Second Circuit Swats Down Fee Bid in Citi Say-on-Pay Case

David Bario : The Litigation Daily : August 20, 2014

Barely 24 hours after hearing oral arguments, a federal appellate panel refused Wednesday to revive claims that plaintiffs lawyers deserve $6 million in fees for supposedly helping to oust former Citigroup CEO Vikram Pandit and another Citi exec two years ago.

Bingham, Paul Weiss Help Unload World's Largest Iron Foundry

Brian Baxter : The Am Law Daily : August 19, 2014

Japan's Hitachi Metals has agreed to pay $1.3 billion in cash to acquire Wisconsin's Waupaca Foundry, a key supplier to the automotive industry, from private equity firm KPS Capital Partners, a longtime client of Paul, Weiss, Rifkind, Wharton & Garrison. Bingham McCutchen, a firm that recently lost a founder of its Japanese practice, is advising Hitachi on the deal.

Chancery Awards PharmAthene Damages for Expected Profits

Jeff Mordock : The Legal Intelligencer : August 15, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

New Deals

Wenxiong Zhang : The Am Law Daily : August 14, 2014

In a reversal of trend of U.S. companies moving overseas to save on taxes, Walgreens said on Wednesday it would buy the stake in Alliance Boots it doesn't already own, for $15.3 billion in cash and stock but keep its current Illinois tax address once it takes full ownership of the chain. Also, NorthStar Realty Finance Corp. said on Tuesday it would acquire Griffin-American Healthcare REIT II Inc. for approximately $3.4 billion in cash and stock.

Six Firms Assist on Latest Health Care REIT Merger

Brian Baxter : The Am Law Daily : August 13, 2014

Arnold & Porter, Sidley Austin, Shumaker Loop and a trio of leading Canadian firms are advising on a deal that will see Health Care REIT, the largest U.S. health care landlord by market value, acquire HealthLease Properties for $950 million. The transaction value could surge to $2.3 billion when accounting for sidecar deals with Mainstreet Property Group.

Chancery Court Awards PharmAthene Damages for Expected Profits

Jeff Mordock : Delaware Business Court Insider : August 13, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

Law Firms Cash In on Inversion Bonanza

: The Am Law Daily : August 12, 2014

As more U.S. companies seek to lower their tax rates by reincorporating overseas through so-called inversions, at least three dozen U.S. firms have capitalized on the trend, with Skadden, Arps, Slate, Meagher & Flom leading the way.

Top Tax Lawyers Mum on Inversion Debate

Susan Beck : The Am Law Daily : August 12, 2014

More than a decade ago, when corporate inversions came under scrutiny, a group of leading New York tax lawyers—headed by a Paul Weiss partner and including partners from Skadden, Sullivan & Cromwell, and Cravath—took a principled stand and called for urgent action to stop these deals. Twelve years later, a new wave of inversions has sparked controversy and calls for reform. This time the corporate tax bar's lawyers are silent.

INADMISSIBLE: Suit Over Shutdown Pay to Move Forward

: The National Law Journal : August 11, 2014

The federal government violated labor laws by requiring certain employees to work without pay during last year's government shutdown, even though they were paid later on, a federal judge has ruled. Plus more in this week's column.

Rakoff Reluctantly Approves SEC Pact With Citigroup

John Caher : New York Law Journal : August 06, 2014

Southern District Judge Jed Rakoff followed his marching orders and approved a $285 million settlement in a dispute between the SEC and Citigroup, but he left no doubt about what he viewed as a hands-off process dictated by the Second Circuit.

More Profiles:
Choose A Law Firm

IN-DEPTH RESEARCH REPORT
on Paul Weiss Rifkind Wharton & Garrison LLP

  • - Financial Information
  • - Compensation
  • - Billing Rates
  • - Lateral Partner Moves
  • - Pro bono
  • - Key Contacts

Paul Weiss Rifkind Wharton & Garrison LLP

  • Designation: N/A
  • Head Count: N/A
  • Gross Revenues: N/A
  • Revenue Per Lawyer: N/A
  • Profits Per Partner: N/A
  • Year Over Year Change: 0

Paul Weiss Rifkind Wharton & Garrison is an USA-based law firm.  

Firm Rankings

Survey Rank Year Over Year Change Description
Am Law 100 NR N/A Gross revenue
Am Law 200 NR N/A Gross revenue
NLJ 250 NR N/A Lawyer head count
The A-List NR N/A Overall excellence
Pro Bono Scorecard NR N/A Pro-bono commitment
Diversity Scorecard NR N/A Minority head count
Midlevel Associates Survey NR N/A Job satisfaction
Summer Associates Survey NR N/A Summer programs

In the News

Movers

: The National Law Journal : September 01, 2014

Lateral moves and new arrivals in this week's column.

Dealmakers of the Week: Kirkland & Ellis' Sorabella and Feirstein

MP McQueen : The Am Law Daily : August 28, 2014

As lead advisers for Burger King on its $11.4 billion tie-up with Canadian coffee-and-doughnut chain Tim Hortons, William Sorabella and David Feirstein helped oversee one of the most visible corporate tax inversions yet.

New Deals

: The Am Law Daily : August 28, 2014

Burger King Worldwide Inc. and Canadian chain Tim Hortons Inc. have agreed to an $11.4 billion tie-up that would send the combined company's headquarters north in what may be the most visible corporate tax inversion yet. Also, Roche Holding announced Monday its $8.3 billion acquisition of InterMune, a suburban San Francisco-based company lung disease drug developer.

Asia Deal Digest: Aug. 28, 2014

Anna Zhang : The Asian Lawyer : August 28, 2014

*Kirkland & Ellis advises Orchid Asia on $920 million China fund*HSF, KWM lead AGL's $1.1 billion rights issue for MacGen acquisition*Simpson Thacher, Gunderson Dettmer on Murata's $465 million acquisition of chipmaker Peregrine

Big Suits

Jan Wolfe : The American Lawyer : August 27, 2014

U.S. v. Rajaratnam; In Re Electronic Books Antitrust Litigation; In re ITT Educational Services Securities Litigation; U.S. v. Citigroup

Twenty-Five Things Your Associates Want You to Know

Ross Todd : The American Lawyer : August 27, 2014

The one thing that midlevels want to tell their managing partner.

Burger King, Tim Hortons Feed on Inversion Frenzy

MP McQueen : The Am Law Daily : August 26, 2014

The two fast-food chains have agreed to an $11.4 billion tie-up that would send the combined company's headquarters up to Canada in the latest controversial tax inversion. Advising on the deal are Kirkland & Ellis, Paul Weiss, Wachtell and Munger Tolles, along with Canadian firms Davies Ward and Osler, Hoskin & Harcourt.

Broad Support for 'Exemplary' Inmate Turns Tide on Parole

John Caher : New York Law Journal : August 25, 2014

Just weeks after enduring scathing criticism in an Appellate Division dissent, the state Board of Parole has voted unanimously to release a man it had denied on seven prior occasions.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

With BoA Settlement Comes Shift in Work for Law Firms

Julie Triedman : The Am Law Daily : August 25, 2014

Bank of America Corp.'s $16.65 billion settlement announcement, and the tailing off of the government's enforcement actions, promises to affect a swath of top-tier Wall Street firms. But lawyers at the banks' primary outside counsel said that work continues to flow.

Personal Notes on Lawyers

: New York Law Journal : August 25, 2014

Paul Weiss has added as partner Elizabeth Sacksteder from Citigroup; Arnold & Porter has added Alexander Shaknes, late of Winston & Strawn; and Bingham McCutchen has added former assistant U.S. attorney David Miller, among other moves and announcements.

BofA Deal Marks End Of an Era

Julie Triedman and Jenna Greene : The National Law Journal : August 25, 2014

With Bank of America Corp.'s $16.7 billion settlement over the marketing and sale of subprime residential mortgage-backed securities, prosecutors closed out the largest remaining government enforcement actions stemming from the financial crisis.

Two Am Law Firms Advise on Oak Hill's $1.43 Billion Deal

Alexandra Wilson : The Am Law Daily : August 25, 2014

Gibson Dunn and Paul Weiss provided legal counsel on private equity firm Oak Hill Capital Partners' acquisition of container maker Berlin Packaging LLC from Bahrain-based investment firm Investcorp Bank BSC.

BAR-ometer

: The Recorder : August 22, 2014

The In-house Counsel Whose Name Is on the BoA Settlement

Sue Reisinger : Corporate Counsel : August 22, 2014

Jana Litsey, deputy general counsel of Bank of America Corp., signed the largest settlement ever reached between the federal government and a company. Twice.

Lawyer Begs Court's Mercy for Costly Missed Deadline

Marisa Kendall : The Recorder : August 22, 2014

Paul Weiss partner Kenneth Gallo asked the judge presiding over a large price-fixing MDL to blame him, but not penalize his client, Sharp Electronics.

With BofA Settlement Comes Shift in Work for Firms

Julie Triedman : The Am Law Daily : August 21, 2014

Thursday's record $16.65 billion settlement with Bank of America means a winding down of government action against big banks over residential mortgage-backed securities. But several lawyers say the pipeline for firms representing these banks will remain full, as governments worldwide take aim at foreign exchange rate-setting and Office of Foreign Assets Control investigations.

For Paul Weiss Client, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline was "harmless oversight," but a federal judge disagreed.

Katten, Kaye Scholer Skate to Islanders Sale

Brian Baxter : The Am Law Daily : August 20, 2014

Kaye Scholer is counseling the National Hockey League's New York Islanders on its reported $548 million sale to an investor group advised by Katten Muchin Rosenman that will take full control of the franchise in two years. The deal comes a week after Andrew Barroway, a former high-flying Philadelphia plaintiffs lawyer turned hedge fund executive, retained Blank Rome to sue the Islanders' current ownership after it allegedly reneged on a handshake deal to sell him the team.

For Paul Weiss Client Sharp, Time Runs Out to Opt Out

Marisa Kendall : The Recorder : August 20, 2014

Lawyers for Sharp Electronics insisted that a missed opt-out deadline in a price-fixing class action was a "harmless oversight," but a federal judge disagreed.

Second Circuit Swats Down Fee Bid in Citi Say-on-Pay Case

David Bario : The Litigation Daily : August 20, 2014

Barely 24 hours after hearing oral arguments, a federal appellate panel refused Wednesday to revive claims that plaintiffs lawyers deserve $6 million in fees for supposedly helping to oust former Citigroup CEO Vikram Pandit and another Citi exec two years ago.

Bingham, Paul Weiss Help Unload World's Largest Iron Foundry

Brian Baxter : The Am Law Daily : August 19, 2014

Japan's Hitachi Metals has agreed to pay $1.3 billion in cash to acquire Wisconsin's Waupaca Foundry, a key supplier to the automotive industry, from private equity firm KPS Capital Partners, a longtime client of Paul, Weiss, Rifkind, Wharton & Garrison. Bingham McCutchen, a firm that recently lost a founder of its Japanese practice, is advising Hitachi on the deal.

Chancery Awards PharmAthene Damages for Expected Profits

Jeff Mordock : The Legal Intelligencer : August 15, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

New Deals

Wenxiong Zhang : The Am Law Daily : August 14, 2014

In a reversal of trend of U.S. companies moving overseas to save on taxes, Walgreens said on Wednesday it would buy the stake in Alliance Boots it doesn't already own, for $15.3 billion in cash and stock but keep its current Illinois tax address once it takes full ownership of the chain. Also, NorthStar Realty Finance Corp. said on Tuesday it would acquire Griffin-American Healthcare REIT II Inc. for approximately $3.4 billion in cash and stock.

Six Firms Assist on Latest Health Care REIT Merger

Brian Baxter : The Am Law Daily : August 13, 2014

Arnold & Porter, Sidley Austin, Shumaker Loop and a trio of leading Canadian firms are advising on a deal that will see Health Care REIT, the largest U.S. health care landlord by market value, acquire HealthLease Properties for $950 million. The transaction value could surge to $2.3 billion when accounting for sidecar deals with Mainstreet Property Group.

Chancery Court Awards PharmAthene Damages for Expected Profits

Jeff Mordock : Delaware Business Court Insider : August 13, 2014

The Delaware Court of Chancery has awarded PharmAthene Inc. lump-sum damages based on the expected profits from a smallpox vaccine it developed with Siga Technologies Inc.

Law Firms Cash In on Inversion Bonanza

: The Am Law Daily : August 12, 2014

As more U.S. companies seek to lower their tax rates by reincorporating overseas through so-called inversions, at least three dozen U.S. firms have capitalized on the trend, with Skadden, Arps, Slate, Meagher & Flom leading the way.

Top Tax Lawyers Mum on Inversion Debate

Susan Beck : The Am Law Daily : August 12, 2014

More than a decade ago, when corporate inversions came under scrutiny, a group of leading New York tax lawyers—headed by a Paul Weiss partner and including partners from Skadden, Sullivan & Cromwell, and Cravath—took a principled stand and called for urgent action to stop these deals. Twelve years later, a new wave of inversions has sparked controversy and calls for reform. This time the corporate tax bar's lawyers are silent.

INADMISSIBLE: Suit Over Shutdown Pay to Move Forward

: The National Law Journal : August 11, 2014

The federal government violated labor laws by requiring certain employees to work without pay during last year's government shutdown, even though they were paid later on, a federal judge has ruled. Plus more in this week's column.

Rakoff Reluctantly Approves SEC Pact With Citigroup

John Caher : New York Law Journal : August 06, 2014

Southern District Judge Jed Rakoff followed his marching orders and approved a $285 million settlement in a dispute between the SEC and Citigroup, but he left no doubt about what he viewed as a hands-off process dictated by the Second Circuit.