The Am Law Daily The daily source for legal business news, analysis and intelligence from the editors and reporters at The American Lawyer. en-us Copyright 2015. ALM Media Properties, LLC. All rights reserved. The Am Law Daily Dealmaker of the Week: Alison Ressler of Sullivan & Cromwell A corporate partner at Sullivan & Cromwell, Ressler advised Valeant Pharmaceuticals International Inc. in its $10.1 billion acquisition of Raleigh, North Carolina-based Salix Pharmaceuticals Ltd. Fri, 27 Feb 2015 17:46:54 EST 1202719248990 The Am Law 100, the Early Numbers: Willkie Farr & Gallagher Achieves Personal Best in 2014 M&A and private equity work helped Willkie Farr & Gallagher's partner profits rise 14.5 percent to $2.56 million last year. Gross revenue also increased 14.5 percent, to $640 million, while revenue per lawyer jumped 8.5 percent, to $1.155 million. All three totals marked record highs for the firm. Fri, 27 Feb 2015 16:48:28 EST 1202719239935 CNN?s New Series Rankles Legal Blog With Same Name CNN has published an online series on government debt collection called "Above the Law." But Elie Mystal, editor at large for the publisher of a popular legal blog by the same name, says not so fast. Mystal has turned to its readership of legal professionals to draft cease-and-desist letters to CNN as it tries to defend its trademark. Fri, 27 Feb 2015 16:28:20 EST 1202719237122 Deal Watch: Sullivan & Cromwell Advise Valeant on $10.1 Billion Buy of Salix Our latest roundup of deals worth $1 billion or more includes Valeant Pharmaceuticals International Inc.?s purchase of Salix Pharmaceuticals Ltd. for $10.1 billion; Asahi Kasei Corp.?s buy of Polypore International Inc. in a deal valued at $3.2 billion; and a merger between silicon producers Grupo FerroAtlántica and Globe Specialty Metals Inc. for a combined value of $3.1 billion. Latham & Watkins advised on the most number of deals, with four, while Sullivan & Cromwell led the way in terms of transaction value. Thu, 26 Feb 2015 19:16:17 EST 1202719117211 The Am Law 100, the Early Numbers: Kaye Scholer Grows PPP While Shrinking Head Count Kaye Scholer's profits per partner increased a modest 1.8 percent in 2014 while revenue per lawyer grew 5.2 percent. Gross revenue, however, declined for the fourth consecutive year, dipping 1.3 percent to $375 million. The firm was able to increase partner profits and RPL by cutting expenses and reducing head count. Thu, 26 Feb 2015 17:53:06 EST 1202719104229 The Am Law 100, the Early Numbers: Paul Hastings? Revenue Surpasses $1 Billion Paul Hastings? gross revenue passed surpassed $1 billion mark, with gross revenue increasing by 6.3 percent, revenue per lawyer growing by 8 percent and partner profits and partner profits increasing by 8.5 percent. At the same time, the firm?s total number of lawyers was down by 16, though the number of partners increased by seven. Thu, 26 Feb 2015 16:53:01 EST 1202719091967 The Am Law 100, the Early Numbers: Nixon Peabody?s Revenue Dips, But Partner Profits Climb Nixon Peabody, which earlier this month absorbed a 100-lawyer Chicago firm, saw gross revenue and net income slip slightly in 2014, but profits per partner rose 7 percent. Thu, 26 Feb 2015 13:44:37 EST 1202719062021 The Am Law 100, the Early Numbers: Milbank Sees Spike in Revenue, Profits For the second straight year, Milbank, Tweed, Hadley & McCloy produced significant growth in revenue and profits. Gross revenue in 2014 was up 7.8 percent, to $761 million, while revenue per lawyer rose 3.8 percent, to $1.24 million. Profits per partner increased 7 percent, to $2.745 million, on net income of $395 million, an increase of 12.4 percent. Wed, 25 Feb 2015 17:33:55 EST 1202718975070 The Am Law 100, the Early Numbers: Kasowitz's Revenues Get Big Bounce From FHFA Settlements After taking a hit in 2013, the litigation-focused Kasowitz, Benson, Torres & Friedman saw its gross revenue grow 14.6 percent in 2014 as the firm finalized two massive mortgage-backed securities settlements on behalf of the U.S. Federal Housing and Finance Agency. Wed, 25 Feb 2015 17:21:29 EST 1202718971671 Leading Sports Lawyer Joins Barnes & Thornburg Wm. David Cornwell Sr., a prominent litigator in the sports world with a stable of all-star clients, is leaving Gordon Rees Scully Mansukhani for Barnes & Thornburg. Gordon Rees, which acquired Cornwell?s Atlanta-based firm three years ago, sued former Cornwell client Alex Rodriguez last week for $380,000 in legal fees stemming from his representation of the New York Yankees star last year. Wed, 25 Feb 2015 17:00:54 EST 1202718967509 The Am Law 100, the Early Numbers: Shearman Builds on Breakout 2013 Shearman & Sterling climbed another rung up the profitability ladder in 2014, boosting profits per partner by 5.8 percent, from $1.8 million to about $1.9 million last year. The firm recorded more modest increases of 1.5 percent in revenue per lawyer and 3 percent in gross revenue. Wed, 25 Feb 2015 16:47:22 EST 1202718964061 The Am Law 100, the Early Numbers: Shook Hardy's Partner Profits Take Another Dip The Kansas City, Missouri-based firm posted a 3 percent decline in PPP in 2014 while gross revenue grew 2.4 percent. Revenue per lawyer declined 1.4 percent and the firm added 18 attorneys to its head count. Shook Hardy's financial results come amid an announcement Tuesday that it would absorb Chicago-based complex commercial litigation boutique Grippo & Elden. Tue, 24 Feb 2015 22:55:17 EST 1202718864082 Ropes & Gray Ramps Up in Data Security, Plus More Lateral Moves A data privacy expert joins Ropes & Gray on the West Coast; a former Bingham McCutchen practice leader lands at Mayer Brown; Epstein Becker & Green's 15-lawyer raid lands it an office in Princeton; Cleary Gottlieb hires a former Sullivan & Cromwell tax partner and other notable moves from throughout The Am Law 200. Tue, 24 Feb 2015 22:08:04 EST 1202718862370 O?Melveny Smoothes Way for Title Bout Between Pacquiao, Mayweather Manny Pacquiao and Floyd Mayweather Jr., have agreed to a May 2 bout that could generate $400 million in gross revenue, making it the richest boxing match in history. O?Melveny & Myers represented Pacquiao and Top Rank Boxing—a boxing promotional company headed by a Harvard Law School graduate that just hired its new general counsel from the firm—on the deal, which comes after years of legal machinations between both fighters. Tue, 24 Feb 2015 19:47:58 EST 1202718852669 The Am Law 100, the Early Numbers: Latham Gives Bob Dell a Spectacular Sendoff In Robert Dell?s final year as global chair, Latham & Watkins posted a record-high in gross revenue by hitting the $2.6 billion mark, as profits per partner, revenue per lawyer and net income also saw big gains. Tue, 24 Feb 2015 10:51:22 EST 1202718752500 UNC-Chapel Hill Turns to Skadden for Ongoing Litigation A Skadden, Arps, Slate, Meagher & Flom team led by litigation partner Patrick Fitzgerald will represent the University of North Carolina at Chapel Hill in litigation, accreditation and regulatory matters resulting from a 2014 investigation by Cadwalader, Wickersham & Taft attorneys that revealed two decades of academic fraud at the university. Mon, 23 Feb 2015 19:04:02 EST 1202718712980 Law Jobs See Lag in Recovery Legal employment is still well below its pre-recession peak and is more or less flat, while non-farm employment is strongly rebounding, according to recent average quarterly government figures. Mon, 23 Feb 2015 16:38:49 EST 1202718385037 Greenberg Traurig Grows in Chicago, Plus More Lateral Moves A Chicago boutique is absorbed by Greenberg Traurig; a Gibson Dunn practice leader heads out on his own; Sidley Austin and Steptoe & Johnson each add a trio; and other notable hires from throughout The Am Law 200. Sun, 22 Feb 2015 11:24:33 EST 1202718599680