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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.

Bingham Malpractice Accord Smoothed Way for Morgan Lewis Talks

By Brian Baxter |

Bingham McCutchen's ongoing odyssey to find a merger partner could be coming to an end following a recent vote by the firm in favor of a combination with Morgan, Lewis & Bockius. The Am Law Daily has learned that Bingham cleared a key hurdle with the firm this summer by quietly settling an ongoing malpractice dispute with Frank McCourt, the former owner of Major League Baseball's Los Angeles Dodgers. The league is a longtime Morgan Lewis client.

The Churn

Latham Raids O'Melveny for Six Partners, Plus More Lateral Moves

By Brian Baxter |

Latham & Watkins makes a major bid to become a Hollywood heavyweight by luring six high-profile media and entertainment partners from O'Melveny & Myers; Proskauer Rose loses three while Duane Morris adds two; Sidley Austin and Wilson Elser partners go in-house and more notable hires from throughout The Am Law 200.

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.

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.

The Churn

Covington Nabs MoFo Financial Services Pro, Plus More Lateral Moves

By Brian Baxter |

Covington & Burling picks up a leading consumer financial services lawyer from Morrison & Foerster, a firm that recently saw a technology transactions partner join the NBA; Gibson Dunn makes a government hire after election season; two more firms raid Bingham; and other notable hires from throughout The Am Law 200.

Alums From Dead Firms Keep Memories Alive Through Reunions

By Nathalie Pierrepont |

Firms like Thacher Proffitt & Wood, Thelen, Shea & Gould and Bower & Gardner may no longer exist, but their vast networks of former attorneys and staff still keep in touch through organized gatherings and informal meetups.

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.

From Girls Gone Wild to Estate Dispute, Proskauer Finds Itself in Spotlight

By Nathalie Pierrepont |

The firm agreed to settle claims filed by the trustee managing the bankruptcy estate of the Girls Gone Wild enterprise, and stepped up to represent the second wife of a deceased Proskauer litigation partner in an inheritance dispute.

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.

Am Law Firms See Slowing Demand for Hours but Higher Fees

By Aric Press |

The trend lines for corporate demand for legal services were once again mixed in the first half of 2014: Hours purchased were down by 4.4 percent compared with 2012, while fees paid increased by 2.9 percent, according to the latest LegalView Legal Market Index produced by TyMetrix.

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.

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.

An American Apparel store located in Los Angeles, CA.

Pricey Jones Day Probe Takes Toll on American Apparel Earnings

By Nathalie Pierrepont |

The retail chain on Monday reported its largest revenue drop in four years, in part due to $5.3 million in fees spent during the third quarter following the suspension and internal investigation of ousted CEO Dov Charney. Jones Day, legal counsel to American Apparel's board on the internal probe, and FTI Consulting, head of the internal probe, collected the lion’s share of those fees.

Curtis, Mallet-Prevost Plants Second Flag in Italy

By Nathalie Pierrepont |

New York-based Curtis, Mallet-Prevost, Colt & Mosle is opening an office in Rome with the addition of two partners focused on banking and finance and real estate.

Skadden, Weil Alum Nab Roles in Dendreon Bankruptcy

By Brian Baxter |

In a down year for big corporate bankruptcies, Skadden, Arps, Slate, Meagher & Flom bagged a big assignment Monday for Seattle-based biotechnology company Dendreon as the prostate cancer drug maker filed for bankruptcy in Delaware. Also tapped by the debtor as claims agent in its Chapter 11 case is Prime Clerk, a company started last year by former Weil, Gotshal & Manges restructuring partner Shai Waisman.

Wachtell Bags Third Big Banking Deal in Two Weeks

By MP McQueen |

The Wall Street stalwart took the lead Wednesday advising BB&T Corp. on its $2.5 billion cash-and-stock purchase of Susquehanna Bancshares, having recently handled two other banking mergers for clients AmericanWest Bank and Sterling Bancorp.

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.

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.

After 126 Years, Baker Donelson Shutters Huntsville Office

By MP McQueen |

The firm closed the one-man outpost in Tennessee on Oct. 30 following the death this summer of former U.S. Senator Howard Baker, Jr., whose grandfather founded the office in 1888.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.