Kirkland & Ellis loses two and hires one from Skadden; Wilmer expands in Denver; Winston & Strawn hires two more from Pillsbury and other notable moves from throughout The Am Law 200.
Kirkland & Ellis loses two and hires one from Skadden; Wilmer expands in Denver; Winston & Strawn hires two more from Pillsbury and other notable moves from throughout The Am Law 200.
Too many big law firms share an unfortunate attribute with big hospitals: a lost sense of mission.
Barshay, a corporate partner at Cravath, led a team from the firm advising H.J. Heinz on its proposed megamerger with Kraft Foods Group.
Frederick Leech, a longtime Reed Smith partner in Pittsburgh and former head of the firm's investment management practice, recently left to become chair of the corporate group at Leech Tishman Fuscaldo & Lampl, a Steel City-based boutique founded in 1994 by his younger brother Tony Leech, who drowned 10 years later trying to save his two sons from a riptide in Costa Rica.
Cravath, Swaine & Moore; Kirkland & Ellis; Munger, Tolles & Olson; and Sullivan & Cromwell have landed lead roles on the Warren Buffett-backed $40 billion union of H.J. Heinz and Kraft Foods.
Legal academia is chock full of women and minorities.
Akin Gump Strauss Hauer & Feld, Bracewell & Giuliani, Haynes and Boone, Kirkland & Ellis and Vinson & Elkins are some of the Am Law 200 firms that have snagged leading bankruptcy and restructuring roles in the struggling U.S. oil and gas sector.
Kirkland & Ellis picked up momentum in 2014, with revenue increasing 6.6 percent, to $2.15 billion, and profits per partner lifting 7 percent, to $3.51 million, according to The American Lawyer's reporting. Revenue per lawyer increased 5.4 percent, to $1.365 million, while net income rose 8 percent, to $1.182 billion.
The Chicago-based firm has announced that it will open a disputes-focused office in London later this spring to meet the increasing international needs of its clients.
There are few consequences from clients when firms fall far short of diversity goals.
A British high court judge has reversed an order freezing the assets of Djibouti businessman Abdourahman Boreh after finding that a Gibson, Dunn & Crutcher partner knowingly presented faulty evidence implicating Boreh in a 2009 grenade attack.
King & Spalding and Winston & Strawn continue their recent hiring sprees; Latham & Watkins lands one partner and lose two others; a longtime Reed Smith partner departs; Stroock snags a Goldman Sachs alum from Kirkland & Ellis; Wilmer brings back another former federal regulator; and other notable additions from throughout The Am Law 200.
Thanks to a $1 million TED Prize grant, StoryCorps has launched an app that will allow users to record personal interviews directly into their phones, many of which will be archived at the Library of Congress. Latham & Watkins, which has served as pro bono counsel for StoryCorps since 2008, helped with a range of IP issues.
For Mintz Levin, 2014 was a relatively flat year financially amid notable changes in the partnership ranks. Gross revenue inched up by 1.9 percent, to $316 million, while revenue per lawyer and profits per partner each increased by less than a percent to $760,000 and $955,000, respectively.
Winston & Strawn has confirmed its hire of Mats Carlston as co-chairman of its global finance practice, in addition to five more hires from Pillsbury Winthrop Shaw Pittman. Carlston spoke with The Am Law Daily about his move, which follows a group of 11 corporate, finance and private equity partners jumping to Winston & Strawn from Pillsbury earlier this month.
The Minneapolis-based firm has hired nine partners from four firms, including Locke Lord Edwards, Morgan Lewis & Bockius, Seyfarth Shaw and Ulmer & Berne. With the new additions, Faegre Baker's Chicago office will grow to almost 60 lawyers.
A year ago, Teddy Scott Jr. and John Leja had corner offices and leadership positions in Polisinelli’s IP practice in Chicago. Now they’ve quit their jobs to found and run a medical marijuana company, taking partner Jeremy Unruh with them to serve as general counsel. The company has raised $20 million from investors and received licenses from the state of Illinois to operate two cultivation sites and four dispensaries.
Kutak Rock loses eight of its nine lawyers in Wichita to growing Am Law 200 firm Lewis Brisbois; Cahill makes a rare partner hire; Kasowitz and Polsinelli partners take entrepreneurial turns; musical chairs at McDermott; and other notable hires from throughout The Am Law 200.
Bobby Burchfield, a management committee member and head of the complex litigation group at McDermott Will & Emery, has left the firm with partner Matthew Leland for King & Spalding. Burchfield joins the firm nearly four years after the departure of former top litigator Paul Clement. His departure from McDermott comes on the heels of a pair of IP partners defecting for Paul Hastings and as McDermott seeks to ramp up its private client practice.
Bradley Bondi, head of the securities enforcement and investigation group at Cadwalader, Wickersham & Taft, has joined Cahill Gordon & Reindel in a rare lateral hire by the Wall Street firm. Bondi, who will work out of New York and Washington, D.C., will lead Cahill’s securities enforcement and regulatory group.
L. Okey Onyejekwe Jr., an Iraq War veteran and IP litigation partner with Kasowitz, Benson, Torres & Friedman in Silicon Valley, left the firm last month to focus on Zobreus Medical Corp., a startup mobile and health technology company that launched a Kickstarter campaign this week to revolutionize medical records.
Nearly four years to the day after McDermott Will & Emery took on the entire private client practice of Weil, Gotshal & Manges, the former has hired Holland & Knight's international private client practice leader Leigh-Alexandra Basha in Washington, D.C. The move comes as many Am Law 200 firms have reevaluated their private client and trusts and estates practices, and as McDermott braces for some other partner departures.
Our latest roundup of transactions sees Skadden client Valeant Pharmaceuticals International prevail over fellow firm client Endo International in its bid for Salix Pharmaceuticals, while Latham & Watkins, Ropes & Gray and Simpson Thacher & Bartlett advise several private equity clients on their proposed acquisitions of Chicago’s Willis Tower and Life Time Fitness.
Robinson & Cole has poached privacy and data protection group head Linn Freedman from Nixon Peabody. Freedman will lead Robinson & Cole’s newly formed privacy and security data team, following in the footsteps of a number of Am Law 200 firms that have made hires in a practice area that barely existed several years ago.
Yitzhak “Isaac” Herzog comes from one of Israel’s most powerful political families—one likened to the Kennedys—but the former senior partner at leading local law firm Herzog Fox & Ne'eman was unable to unseat Benjamin Netanyahu as the country’s prime minister after elections Tuesday. Nonetheless, Herzog’s Zionist Union performed strongly at the polls, and he could still be a key kingmaker.
The Am Law 100 firm announced Wednesday that it would let go off 21 lawyers and 17 professional staffers from its litigation department.
Latham & Watkins will shrink its number of offices in the Middle East from four to two, leaving the firm with locations in Saudi Arabia’s capital city of Riyadh as well as in Dubai in the United Arab Emirates.
The Am Law Daily drills down the financials for 17 of the biggest New York-based firms, which collectively outperformed their rivals in 2014. Revenue grew an average of 4.5 percent at these firms while profits per partner rose 5.6 percent, according to our reporting.
After nearly three years as general counsel for the National Security Agency, Rajesh "Raj" De is returning to Mayer Brown, a firm where he first made partner in October 2007.
Victor Kovner of Davis Wright Tremaine is the lawyer behind "The Jinx," an HBO documentary series about real estate heir Robert Durst, who was arrested on murder charges one day before the final episode aired. He also vetted "Citizenfour," a documentary about whistleblower Edward Snowden that recently won an Oscar.
After raiding Nelson Mullins Riley & Scarborough for five health care partners, fast-growing Polinselli will open an office in Raleigh; Gibson Dunn and Winston & Strawn add new practice leaders; the NSA's top lawyer returns to Mayer Brown; three former federal prosecutors flock to Robins Kaplan and Wilmer; and other notable hires from throughout The Am Law 200.
The firm has opened an office in Sioux Falls, South Dakota, with plans to open another in Bismarck, North Dakota. The Minneapolis-based firm’s newest outposts will be led by the former U.S. attorneys for South Dakota and North Dakota, Brendan Johnson and Timothy Purdon, respectively.
A former Sidley Austin real estate partner who admitted to faking nearly $70,000 in expenses has been suspended for one year by the Attorney Registration and Disciplinary Commission in Illinois.
The firm has launched a website that provides information on how same-sex relationships are legally recognized in nearly 300 jurisdictions worldwide.
Emails between Curtis, Mallet-Prevost, Colt & Mosle and its client, the Republic of Kazakhstan, were posted online in January after that government’s computers were hacked. Kazakhstan’s counsel at Curtis says in a complaint filed Thursday against the alleged hackers that some of the emails contained privileged and confidential attorney-client communications.
After seeing gross revenue and profits per partner sink in 2013, Winston & Strawn enjoyed a rebound year in 2014, as the firm posted big gains in several key financial metrics. While the firm's equity partnership decreased for a seventh straight year, Winston & Strawn recently added a dozen partners to its ranks following a raid on Pillsbury Winthrop Shaw Pittman.
Having just absorbed the bulk of Bingham McCutchen, a first-of-its-kind merger now awaits Morgan, Lewis & Bockius, which will announce a union Monday with Singapore's Stamford Law Corp. The combination will make Morgan Lewis the largest global firm in the city-state and the only one with the capacity to practice local law across a range of practice areas.
McKenna Long & Aldridge, poised to vote Monday on a union with Dentons, saw two new partners depart because of conflicts; Morgan Lewis lures eight partners in Dallas ahead of another merger in Singapore; Winston & Strawn poaches 10 more partners from Pillsbury; and other notable moves from throughout The Am Law 200.
Cahill Gordon & Reindel's revenue and profitability showed modest declines last year, with gross revenue down 1.7 percent, to $380 million, while profits per partner dropped 4.4 percent, to $3.62 million in 2014. The firm's head count was up 1.6 percent to 327 lawyers in 2014, from 322 the previous year.
Having just completed his first year as chairman of Fried, Frank, Harris, Shriver & Jacobson, David Greenwald is happy with his firm's "realignment." Fried Frank, which in January announced plans to shutter its offices in Asia, saw gross revenue remain flat in 2014, although profits per partner and revenue per lawyer both hit the highest marks in the firm's history.
The top New York-centered firms outperformed their rivals in 2014. Revenue grew an average of 4.5 percent at 17 top firms based in the Big Apple, while profits per partner rose 5.6 percent, according to reporting by The American Lawyer.
At least a dozen Am Law 200 and Magic Circle firms have attained a certification called ISO 27001 to demonstrate they're taking steps toward protecting their documents and communication systems from security breaches, and at least 21 more are in the process of seeking the certification. But even those measures are not enough for some of their biggest bank clients, which demand even tougher standards to guard against cyberattacks.
Our latest roundup of transactions sees Sullivan & Cromwell, Skadden, Freshfields and Davis Polk take the lead for companies in the analytics, entertainment and pharmaceutical sectors.
Law school rankings are out. And everyone is complaining.
Marcia Sundeen, head of Kenyon & Kenyon’s International Trade Commission practice, joins five recently departed former colleagues at Goodwin Procter.
The firm, which racked up $57.9 million in fees as lead counsel to Detroit in its historic bankruptcy filing, will open its new office on July 1. Tim Melton, partner in the firm's capital markets practice in Chicago, will head up the Detroit office.
Less than a week after Winston & Strawn hired Pillsbury Winthrop Shaw Pittman's structured products practice head, it is poised to pick up another 10 corporate, finance and private equity partners from the same firm.
Latham & Watkins has appointed finance partner Jay Sadanandan as the new head of its London office, replacing corporate partner Nick Cline, who finished a five-year term as office managing partner in February.
Sidley Austin and Katten Muchin Rosenman snag Vinson & Elkins partners in Houston; Honigman adds a former U.S. senator; K&L Gates bags eight lawyers in two cities; Mayer Brown and Chadbourne & Parke make additions in Mexico City; and other notable moves from throughout The Am Law 200.
Recent reforms to the energy industry in Mexico have prompted Mayer Brown to establish an office in the country's capital city. Last year, Mexico opened up exploration and production to foreign investment for the first time in 75 years.
Latham & Watkins is advising Simon Property Group Inc. in its $22.4 billion hostile bid for retail real estate investment trust The Macerich Company, which has turned to Kirkland & Ellis for counsel.
Our latest roundup of litigation in which Am Law 200 firms are either defendants or plaintiffs includes an attempt to revive a case against O'Melveny & Myers; assertions that Dorsey & Whitney should share their client BIAX Corp.'s pain; and allegations of negligence against Baker Botts and Kramer Levin Naftalis & Frankel.
Five firms on Fortune's list; the hubris of law grads; Amal's latest gig.
Firms that saw the biggest head count losses in the past five months include Bingham McCutchen and Edwards Wildman Palmer, according to data compiled by ALM's RivalEdge. Not surprisingly, Morgan, Lewis & Bockius, which absorbed 226 attorneys from Bingham McCutchen late last year, made the biggest gains.
The legal sector reversed two consecutive months of declines, according to seasonally adjusted preliminary data released Friday by the U.S. Bureau of Labor Statistics.
Littler Mendelson's Swiss verein enters Guatemala, as the global labor and employment firm loses a six-lawyer team in Atlanta; Covington & Burling opens in Los Angeles; Paul Hastings' hiring spree extends to Brazil; and other notable additions from throughout The Am Law 200.
O'Melveny & Myers saw gross revenue, profits per partner, revenue per lawyer and attorney head count all fall in 2014 as the firm sought to refill a pipeline of high-end litigation work. Bradley Butwin, chairman of the firm, spoke with The Am Law Daily about O'Melveny's performance and its outlook for the future.
Norton Rose Fulbright hired Tracee Whitley as its U.S. chief of operations, a role she occupied at Bingham McCutchen before most of that firm's attorneys were absorbed by Morgan, Lewis & Bockius late last year.
Lam, a corporate partner at Wachtell, Lipton, Rosen & Katz, led the team advising AbbVie Inc. in its $21 billion acquisition of Pharmacyclics Inc.
The Los Angeles-based firm, which saw partner profits rise 8.5 percent in 2014, has picked up three partners from Allen & Overy and a new office in Brazil in the wake of other recent hires of note from Fried, Frank, Harris, Shriver & Jacobson and Shearman & Sterling.
Big Pharma tops our latest roundup of deals worth $1 billion or more, with AbbVie Inc. agreeing to purchase cancer-drug maker Pharmacyclics Inc. for $21 billion. Skadden, Arps, Slate, Meagher & Flom advised on the most number of billion-dollar deals this week, with four, while Wachtell, Lipton, Rosen & Katz led the way by transaction value.
How to network for those who think it's a waste of time.
Proskauer Rose has joined one of the most enviable clubs in the legal profession: the $2 million profits per partner league. In 2014, the firm's profits per partner increased a healthy 7.7 percent, hitting $2.10 million, up from $1.95 million in 2013.
A little more than a year after a potential union between Dentons and McKenna Long & Aldridge fell through, the two Am Law 100 firms are once again examining the possibility of combining operations.
As pressure to strengthen defenses against security breaches increases, at least five firms—Sullivan & Cromwell, Debevoise & Plimpton, Paul Weiss Rifkind Wharton & Garrison, Allen & Overy and Linklaters—are working to form an alliance that would allow them to ultimately share information with each other about cyberthreats and vulnerability.
A year after posting double-digit gains in profits per partner, Debevoise & Plimpton saw more modest growth across the board in 2014.
Kramer Levin Naftalis & Frankel posted a 3.7 percent gain in profits per partner last year, to $1.815 million, but gross revenue declined by half a percent, to $320.5 million. Revenue per lawyer increased by 1 percent, to $1.04 million from $1.03 million.
Despite flat revenues and a second consecutive drop in total lawyer head count, DLA Piper's net income rose by more than 10 percent in 2014, to a record high of $667 million. This increased efficiency pushed the firm’s profit margin from 24 to 27 percent—its highest since 2008—while average profits per equity partner rose 12.5 percent, to $1.49 million, another firm record.
Butler, Snow, O'Mara, Stevens & Cannada departed from its traditional legal services by creating VisionFirst Advisors, to be led by former Mississippi Gov. Haley Barbour as chairman, along with former Florida Secretary of Commerce Gray Swoope as president and CEO.
After a dip in profits in 2014 and an emptying of the firm’s Houston office, Cadwalader is looking to regain ground with three big lateral hires, including Chad Mills, a former transactional energy partner at Sutherland Asbill & Brennan.
Patterson Belknap and Shearman & Sterling lose a pair of IP practice leaders; Cadwalader rebuilds in Houston; more Bingham McCutchen refugees find new homes; and other notable hires from throughout The Am Law 200.
Genius has a gender. Who knew?
Thomas Schweich, a former Bryan Cave partner serving as Missouri’s state auditor, died of a self-inflicted gunshot wound to the head at his home last week in the St. Louis suburb of Clayton. Schweich's death came a month after he entered the state's Republican race for governor in 2016.
A team of Hogan Lovells attorneys has submitted a petition to the United Nations on behalf of Swazi human rights attorney Thulani Maseko, who is halfway through a two-year prison sentence. Maseko was imprisoned along with the editor of a local magazine after publishing an article that was critical of the judiciary in Swaziland.
A year after its bid to merge with now-defunct Canadian firm Heenan Blaikie fell through, DLA Piper has found a partner up north in Davis LLP, a 260-lawyer midtier firm based in Vancouver. The combination, effective in April, marks the latest combination of a U.S.-based global firm with one in Canada.
Milbank expands in London and Frankfurt; Gordon Rees Scully Mansukhani loses a top sports lawyer, but picks up more than a dozen others in Pittsburgh; Barclays and Deutsche Bank raid big firms for two in-house legal chiefs; Cadwalader brings on a top federal prosecutor; and other notable additions from throughout The Am Law 200.
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.
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.
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.
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.
News for law students and lawyer wanna-bees.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Big Law's favorite 10 schools. Plus, the 10 underdog schools that outperform their ranking.
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.
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.
This post isn't about law schools, big law firms, or even the legal profession. Rather, it begins a new series that will end—well, I'm not sure when it will end—but I have a pretty good idea how it will end. A few days ago, I received an unfortunate diagnosis: pancreatic cancer.
About three years ago, the chairman and founder of Boies, Schiller & Flexner teamed up with Zack Schiller, son of the firm's other founder, Jonathan Schiller, to create the Boies/Schiller Film Group, which is set to release "Jane Got a Gun," starring Natalie Portman and Ewan McGregor, on Sept. 4.
Skadden, Arps, Slate, Meagher & Flom's Mulaney and Hatchard led the way for Broomfield, Colorado-based Ball Corp. in its $6.8 billion acquisition of fellow can maker Rexam PLC.
The National Football League left Los Angeles in 1995, but if the league's San Diego Chargers and Oakland Raiders have their way, the two franchises will play in a new $1.7 billion stadium just south of the city’s downtown in Carson, California. The privately financed project, announced by both teams Friday, has led to roles for at least two Am Law 100 firms.