The downsizing trend for office space continues but is starting to slow as many firms already have given up space per lawyer to save money, according to the latest survey by commercial real estate services company Jones Lang LaSalle.
The downsizing trend for office space continues but is starting to slow as many firms already have given up space per lawyer to save money, according to the latest survey by commercial real estate services company Jones Lang LaSalle.
Another Edwards Wildman Palmer partner departs ahead of the firm's proposed merger later this year with Locke Lord; a Bingham partner heads to the FCC; Fried Frank and Kirkland & Ellis add a pair of new partners; and other notable moves from throughout The Am Law 200.
Chesapeake Energy announced Thursday that it would sell a large portion of its gas business in Northern West Virginia and Southern Pennsylvania to Houston-based rival Southwestern Energy. The deal allows Chesapeake to pay down a substantial amount of debt accrued from past expansion efforts.
In a battle between reforming legal education and preserving the currently prevailing law school business model, guess which side wins?
Hogan Lovells and Morrison & Foerster are the latest Am Law firms to launch new practice groups focused on drones in the race to claim an early stake in the business.
Wireless technology company Qualcomm tapped Covington & Burling to advise on its proposed $2.5 billion acquisition of CSR, a British chipmaker known for its Bluetooth technology. At the same time, the firm saw two top litigators handling Deepwater Horizon-related oil spill work for BP depart its Beltway base for Kirkland & Ellis.
A month after losing its former leader and two other capital markets partners to Freshfields Bruckhaus Deringer, Wall Street mainstay Fried, Frank, Harris, Shriver & Jacobson is bringing on two tax partners from King & Spalding and Orrick, Herrington & Sutcliffe.
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The outbreak of the virus has led to postponed conferences, travel restrictions and reliance on videoconferences with clients for some firms doing business in West Africa, where the virus has taken its greatest toll. But for the most part, it's been business as usual.
The Mountain View, Calif.-based antivirus software maker announced that it would separate its businesses, joining a recent wave of technology companies such as Hewlett-Packard and eBay that have decided that two is better than one.
Sharis Pozen, a former acting assistant U.S. attorney general for antitrust who joined Skadden, Arps, Slate, Meagher & Flom in July 2012, left the firm this month to become vice president for global competition and antitrust at General Electric. Pozen is the latest high-profile Am Law 100 partner to join the in-house legal ranks of the Fairfield, Conn.-based conglomerate, which has tapped Skadden to advise on its pending $17 billion buy of the energy unit of French engineering giant Alstom.
Manatt, Phelps & Phillips adds a three-partner West Coast IP team from struggling Dickstein Shapiro; Boies Schiller loses a litigator to Barclays, but grabs Al Franken's former general counsel; Davis Polk and Willkie Farr bring back partners from public service; and other notable hires from throughout The Am Law 200.
The firm has represented Yousafzai since 2012, when it helped her negotiate and establish The Malala Fund while she was still hospitalized in England after an assassination attempt by the Taliban.
The Swiss bathroom-piping maker said on Tuesday that it would purchase Sanitec Group, a Nordic ceramic toilet maker, for $1.35 billion in an all-cash deal.
Don't worry, just work hard, advises Microsoft's CEO to women.
Targa Resources Partners and Targa Resources Corp. announced plans to buy Atlas Energy and its midstream subsidiary, Atlas Pipeline Partners, in a transaction valued at about $7.7 billion. Covington & Burling, Vinson & Elkins and Wachtell, Lipton, Rosen & Katz have grabbed lead roles on the matter.
The two firms are handling the $1.78 billion sale of Dublin-based Milestone Aviation Group to General Electric, which will absorb the helicopter lessor into its massive aircraft leasing division.
Wachtell, Jones Day and DLA Piper advise as the Ohio-based medical technology company offers to buy Swindon, England-based sterilization services provider Synergy Health Plc for $1.9 billion in cash and stock. The deal would create a new company in the U.K., allowing Steris to redomicile there and save on taxes.
Elite U.K. firms have struggled to establish themselves as serious contenders in the U.S., especially in big-ticket transactional work. Now Freshfields has recruited high-profile talent from Skadden, Wachtell, Fried Frank and Shearman in a bid to challenge Wall Street firms on their own turf.
Fried Frank captures Kirkland & Ellis London senior partner Graham White, who joins the firm as its first-ever London managing partner, while Quinn Emanuel launches a London competition practice with the hire of litigator Boris Bronfentrinker from Hausfeld & Co.
A hat trick of firms—Blank Rome, Oslers and Shearman & Sterling—are advising on the $155 million sale of a 51 percent stake in the National Hockey League's Phoenix Coyotes to Andrew Barroway, a high-flying plaintiffs lawyer-turned-hedge fund executive.
One of the few whistleblower practices at an Am Law 100 firm is heading out on its own; fast-growing Parker Ibrahim & Berg raids Edwards Wildman Palmer to branch out in Boston; Ballard Spahr's mortgage banking head goes in-house; and more notable moves from throughout The Am Law 200.
Skadden, Arps, Slate, Meagher & Flom M&A partners Paul Schnell and C. Michael Chitwood led the deal team advising medical technology company Becton, Dickinson and Co. on its $12.2 billion cash-and-stock purchase of CareFusion Corp.
Blackstone Group announced on Friday plans to spin off its financial advisory and Park Hill fund placement businesses and merge them with PJT Partners, an advisory firm founded by M&A star Paul Taubman. For legal counsel, PJT turned to Weil, Gotshal & Manges, which is a longtime adviser to Taubman's former employer Morgan Stanley. Blackstone tapped Simpson Thacher & Bartlett.
Bigger is better, except when it's worse.
Big Law is way behind the curve in how it screens recruits. But that might be a good thing, at least when it comes to personality tests.
Gentiva Health Services, one of the nation's largest home health care and hospice companies, will be absorbed into Kindred Healthcare in a $1.8 billion cash, stock and debt deal that will create the country's largest rehabilitation and hospice services provider. Cleary Gottlieb, Gibson Dunn, Greenberg Traurig and Weil have landed lead roles on the transaction.
Initial public offerings for such companies as British insurer Old Mutual's Boston-based asset management arm and Royal Bank of Scotland-backed Citizens Financial helped fill the coffers of firms such as Bingham, Cleary Gottlieb, Davis Polk and Fried Frank while Detroit's bankruptcy continued to be a boon to Jones Day and Honigman. Meanwhile, the U.S. Supreme Court prepares to examine $4.1 million in Baker Botts bankruptcy fees in our latest look at notable legal billings from throughout The Am Law 200.
Sullivan & Cromwell, Latham, McDermott and Sidley Austin advised on Impax Laboratories' purchase of Tower Holdings for $700 million. Sullivan & Cromwell also counseled Endo International on a separate pharmaceutical deal in which the company agreed to pay $2.6 billion for Auxilium Pharmaceuticals, itself advised by Morgan Lewis and Willkie. Meanwhile, Debevoise and Wilmer took the lead on a third transaction in the pharmaceutical sector, this one worth $675 million.
Continuing on its transactional tear, Skadden, Arps, Slate, Meagher & Flom sat atop three separate rankings of legal advisers for global M&A deals based on total transaction value in the first three quarters of the year.
Legacy firm Patton Boggs, along with Kenyon & Kenyon, McKenna Long & Aldridge, Bingham McCutchen and Dickstein Shapiro, were the Am Law 200 firms that saw their attorney head counts drop the most over the past 12 months, according to data compiled by ALM's RivalEdge. A handful of Am Law 200 firms saw double-digit percentage increases, including Stinson Leonard Street, mostly as a result of mergers.
Bingham McCutchen has one partner left in London following the departure of a restructuring specialist for King & Spalding, which lost the founder of its London office to General Electric. Meanwhile, Schiff Hardin heads to Dallas, along with other notable moves from throughout The Am Law 200.
New York-based cosmetics company Coty has turned to Gibson, Dunn & Crutcher and French firm Bredin Prat to advise on its $240 million bid for Chanel's Bourjois cosmetics brand. Gibson Dunn has long-standing ties to the beauty giant, which went public last year. Willkie Farr & Gallagher is advising Chanel.
The firm has voted to extend Eduardo Leite's appointment as chairman of its executive committee for another two years amid a number of other appointments within its leadership ranks.
Melvyn Weiss, who pleaded guilty to racketeering charges in 2008 for paying kickbacks to clients, is selling more than 140 works of art by Pablo Picasso. Also for sale: his mansion on Long Island's Gold Coast.
Will George Clooney's bride keep her job as a lawyer? We hope so.
Only days after helping the National Football League negotiate an eight-year, $12 billion contract extension with DirecTV, Covington & Burling assisted the National Basketball Association on its nine-year, $24 billion broadcast rights agreement with ESPN and Turner Broadcasting System.
Morgan, Lewis & Bockius has doubled down in Kazakhstan with an office in the country's new capital Astana. Meanwhile, Baker & McKenzie's Saudi affiliate, Legal Advisors, Abdulaziz I. Al-Ajlan & Partners, announced its opening of an office in Jeddah.
Skadden, Wachtell and Weil are advising on medical technology company Becton, Dickinson and Co.'s purchase of medical device maker CareFusion Corp., marking the latest in a record-setting series of mergers and acquisitions in the pharmaceutical and medical device manufacturing industries.
Using public records and other databases, our sister publication, Corporate Counsel, discovered the firms that America's biggest companies use in key areas of litigation. Plus, the secrets to becoming one of those firms.
At some point, this series on law school market dysfunction must end. So does the dysfunction itself.
Legal consultancy Altman Weil's latest law firm merger report finds that the 62 law firm combinations announced in the U.S. from January through September of this year slightly outpaces last year's record for the same period.
Gibson Dunn, Kaye Scholer and Paul Hastings all made major lateral hires in London this week by raiding their British brethren. The Am Law Daily looks at those moves and more in our latest tally of hires from throughout The Am Law 200.
The legal sector shed 4,600 jobs in September, taking its deepest dive so far this year, according to seasonally adjusted preliminary data released Friday by the U.S. Bureau of Labor Statistics.
For the third time in a row, companies are reporting a modest increase in their total legal spending, but at a slower rate than in years past, according to HBR Consulting's 2014 law department survey. Meanwhile, spending on in-house law departments has been outpacing spending on outside counsel.
Joan Lukey is leaving Ropes & Gray to join the much smaller Boston-based firm of Choate, Hall & Stewart as a partner and chairwoman of its complex trial and appellate litigation group.
Munger, Tolles & Olson is advising longtime client Berkshire Hathaway on its acquisition of the Van Tuyl Group, the nation's fifth-largest auto dealership by sales. DLA Piper is in the driver's seat for Van Tuyl.
Covington & Burling is counseling the National Football League on an eight-year, $12 billion extension of its Sunday Ticket television deal with DirecTV, a key component of the satellite broadcaster's pending $48.5 billion sale to AT&T.
The two Am Law 100 firms and Magic Circle shop Slaughter and May are working on a deal that will see British media and marketing company UBM become the largest events organizer in the U.S.
In a lighthearted blog post, I mentioned a lawyer's sex appeal. Blowback!
Charlie Geffen, who led the British firm for five years until he was replaced by dispute resolution partner Ben Tidswell in 2013, is joining Gibson, Dunn & Crutcher's London office along with Ashurst corporate partner Mark Sperotto.
While Gibson, Dunn & Crutcher's London office raided Ashurst for its former head, the two firms also worked on opposite sides of Arkansas-based Murphy Oil's $2 billion sale of assets in Malaysia to an Indonesian oil and gas giant.
Andrews Kurth and Akin Gump Strauss Hauer & Feld are advising Enterprise Products Partners L.P., an energy pipeline investor headed by a Houston lawyer-turned-billionaire, on its $4.6 billion acquisition of a two-thirds stake in marine terminal operator Oiltanking Partners L.P., which has retained Skadden, Arps, Slate, Meagher & Flom and Vinson & Elkins. Enterprise plans to eventually take full control of Oiltanking in a deal valued at roughly $5.8 billion.
As Bingham McCutchen mulls a merger with Morgan, Lewis & Bockius, a key factor in clinching any deal will be the participation of certain rainmakers. The Am Law Daily has a look at those individuals, some of whom have left the firm, and other notable moves from throughout The Am Law 200, such as significant acquisitions by Armstrong Teasdale in Denver, Fox Rothschild in Dallas and Quarles & Brady in Scottsdale, Ariz.
The ABA approved a number of changes to law school accreditation standards, many of which reduce ways law schools waste students' money and time.
Johnson & Johnson once again turned to longtime outside counsel Cravath, Swaine & Moore to advise on its $1.75 billion buy of privately held Alios BioPharma, a viral drug developer being represented by Latham & Watkins.
Nine months after Carl Icahn called for a split of eBay and PayPal, the San Jose-based online auction and retailing giant has turned to the activist investor's longtime nemesis, Wachtell, Lipton, Rosen & Katz, for legal counsel.
Welcome, Vincent Viola and Mark Walter. Another lawyer slips off the exclusive list. But don't worry—Leon Charney is still a billionaire.
Silicon Valley stalwart Wilson Sonsini Goodrich & Rosati is advising Tibco Software, the Palo Alto-based enterprise software company founded by Sacramento Kings owner Vivek Ranadive, on its proposed $4.3 billion sale to private equity firm Vista Equity Partners. The deal is the largest leveraged buyout in the technology industry so far this year.
Canada's Encana Corp. has turned to Paul, Weiss, Rifkind, Wharton & Garrison, Vinson & Elkins and Canadian firm Blakes, Cassels & Graydon for legal advice on its acquisition of Fort Worth-based Athlon Energy Inc. Latham & Watkins is representing Athlon.
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After months of partner departures, Bingham McCutchen has dipped into the lateral market to make some hires of its own by bringing on an energy partner in Washington, D.C., and a senior counsel in San Francisco. The Am Law Daily looks at those moves and other notable hires from throughout The Am Law 200.
Or perhaps it's a tax break. White & Case is the latest Am Law 100 firm to announce the opening of a global services center separate from its other offices. The legal giant, which grossed $1.44 billion last year, has moved 45 back-office staff positions to Tampa thanks to $300,000 in incentives from the Sunshine State.
One manifestation of structural problems with the current mechanism for funding legal education is, well, structures.
Women in finance say sexism is rampant, but they don't seem that bothered.
Richard Smith, head of regulatory and government investigations at Norton Rose Fulbright, has been hired by the National Football League Players Association for its investigation of the league’s indefinite suspension of former Baltimore Ravens star Ray Rice, who himself has retained former Crowell & Moring litigation partner Peter Ginsberg.
Despite worries over Western sanctions, a trio of Am Law 100 firms sidled up for the $700 million sale of Pabst Brewing Co. to Russia’s Oasis Beverages, while Russian veteran Cleary Gottlieb Steen & Hamilton advised aluminum giant United Company Rusal on its recent $5.15 billion debt restructuring.
Melbourne-based personal injury specialist Slater & Gordon, the world's first publicly traded law firm, is in talks to acquire Welsh trade union boutique Leo Abse & Cohen. A deal would be the Australian firm’s second U.K. takeover this month and its seventh since launching in the country in 2012.
The latest news about law schools and legal markets.
Four months after withdrawing from litigation in an East Texas federal court due to their former client's alleged falsification of evidence, Akin Gump Strauss Hauer & Feld partner Sanford Warren Jr., senior counsel R. Scott Rhoades and counsel Joshua Hedrick are starting their own firms in Dallas. Akin incurred roughly $5.4 million in legal fees by taking on a case for a company whose principals are now under criminal investigation.
The law firms are advising private equity firms EnCap Investments and Riverstone Holdings as they fund Mexico’s first independent oil and gas production company in nearly 75 years.
Bingham McCutchen lost four more partners to Akin Gump Strauss Hauer & Feld this week in Hong Kong and London, as the former continues to pursue a potential merger with Morgan, Lewis & Bockius. McCarter & English adds eight partners of its own through a merger, Jones Day hires another Latin American dealmaker and more notable moves from throughout The Am Law 200.
Canadian energy company Veresen Inc. has agreed to pay Global Infrastructure Partners $1.43 billion in cash for a 50 percent stake in Ruby Pipeline, a natural gas pipeline running from the Rockies to the West Coast.
Latham & Watkins, Gibson Dunn, Wachtell and Baker Botts are advising on the all-cash deal that sees German multinational engineering conglomerate Siemens AG acquiring Dresser-Rand Group, a Houston-based maker of compressors, steam turbines, gas turbines and engines for the oil and gas industry.
Women across the board do not aspire to be leaders.
German pharmaceutical giant Merck KGaA has agreed to buy Sigma-Aldrich Corp. for $17 billion in cash in Merck's largest takeover to date.
Rumored for weeks to be mulling a potential union, the two Am Law 100 firms saw their leaders reach an agreement on a merger deal Friday that could create a 2,100-lawyer firm with offices in 28 cities. The potential combination, which does net yet include a letter of intent, comes after months of lateral partner departures at Bingham. The firm has gone through a leadership change as it seeks to rebound from a tough year financially in 2013.
The Magic Circle firm's New York hiring spree continued, although one partner has left the London-based legal giant's office in Washington, D.C., for a top in-house job at Chevron. The Am Law Daily looks at those moves and more in our latest tally of notable hires from throughout The Am Law 200.
Our latest roundup of law firm lawsuits includes a malicious prosecution case against Latham & Watkins that was reinstated by a California appeals panel, as well as a suit against Yahoo Inc. and its lawyers at Baker & McKenzie, alleging that they conspired to get a big verdict against the tech giant overturned in Mexico.
Valerie Ford Jacob, the head of the capital markets group at Fried, Frank, Harris, Shriver & Jacobson, is leaving with partners Michael Levitt and Paul Tropp to join Magic Circle firm Freshfields Bruckhaus Deringer in New York. The moves are the latest high-profile lateral hires by Freshfields in the U.S.
A federal judge in Manhattan threw out a lawsuit filed by David Lola, a former contract lawyer for Skadden, Arps, Slate, Meagher & Flom, who accused the firm and its legal staffing agency, Tower Legal Staffing, of violating federal overtime pay laws. Lola's attorney vows to appeal the ruling.
Three ways to get suspended, fired or disbarred.
German software giant SAP has turned to Jones Day and Paul, Weiss, Rifkind, Wharton & Garrison for its $8.3 billion acquisition of enterprise software company Concur Technologies. The deal is one of a handful of major software transactions announced so far this month and third major M&A mandate in a week for Jones Day.
The two Am Law 100 firms are working on the $1.47 billion sale of a 48 percent stake in VKontakte, Russia’s answer to Facebook, by United Capital Partners to a company controlled by oligarch Alisher Usmanov. The deal, which raises questions about Russia's commitment to Internet freedom, also comes amid increased tensions between the country and the West and sanctions against some Russian businesses as a result of the ongoing crisis in Ukraine.
A flurry of real estate transactions totaling $6.9 billion has yielded work for several Am Law 100 firms, including Simpson Thacher & Bartlett, Wachtell, Lipton, Rosen & Katz, Willkie Farr & Gallagher and Goodwin Procter.
Four Am Law 100 firms are facing off in a $2.2 billion takeover fight involving Endo International's bid to acquire Auxilium Pharmaceuticals, a deal that would stymie a $345 million tax inversion deal forged by the latter this summer with Canadian biotechnology firm QLT. Skadden, Arps, Slate, Meagher & Flom, which is currently advising Auxilium, has also done inversion work for Endo.
Women are losing ground in client origination, says study.
Akin Gump Strauss Hauer & Feld announced Wednesday morning that most of Bingham McCutchen's London and Frankfurt offices, along with a third of Bingham's Hong Kong office, will be joining the firm in one of the more high-profile mass lateral defections in recent memory.
Jorge Alers, a former head of the Latin American practice at two Am Law 100 firms and most recently general counsel for the Inter-American Development Bank, is on the lookout for potential combinations as the new CEO of Dentons' Latin American and Caribbean group. The Am Law Daily takes an in-house focused look at the latest round of notable hires from throughout The Am Law 200.
The Magic Circle firm has hired Shearman's M&A partner Peter Lyons as it continues to boost its ranks in U.S. transactional work.
The American Lawyer announced Monday the winners of its Global Legal Awards grand prizes. In the climax of a thrilling event at Gotham Hall in New York City, four grand prizewinners were chosen from more than 270 nominations to be named as the year's best cross-border legal work across corporate, finance, disputes and citizenship.
Monday was a big day for health care company mergers, with Latham & Watkins, Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom taking the lead on two deals with a combined value of nearly $5 billion.
Simpson Thacher & Bartlett and leading German shop Gleiss Lutz are advising Michigan-based TRW Automotive on its $11.74 billion sale to Germany’s ZF Friedrichshafen, advised by Sullivan & Cromwell. Gibson, Dunn & Crutcher is counseling another party to the deal, which if completed will create the world's second-largest auto parts supplier.
Less than a week after insurer Syncora dropped its opposition to Detroit's plan to emerge from Chapter 9 bankruptcy, the company and its lawyers at Kirkland issued an extraordinary public apology Monday for attacking the motives and good faith of the two mediators working on the city's reorganization.
Sidley Austin has hired Cameron Kerry, a former general counsel and acting secretary at the U.S. Commerce Department and younger brother of U.S. Secretary of State John Kerry, as senior counsel in Boston and Washington, D.C. The Am Law Daily looks at Kerry's hire and more in our latest roundup of lateral moves throughout The Am Law 200.
Thomas Kruger, a corporate partner with Paul Hastings in New York, earlier this month helped good friend Kathleen King sell her famous Tate's Bake Shop this week to private equity firm The Riverside Company. The deal marks the end of a long journey for King, who more than a decade ago lost the name to the company she founded in Southampton, N.Y.
Meanwhile, a 47 percent gap between female and male partner pay isn't closing, says the new survey from Major, Lindsey & Africa.
Summer associates are generally a happy bunch. But some are happier than others, like those who spent the summer at Boston-based Choate Hall & Stewart, which tied with Foley Hoag for No. 1 in The American Lawyer's 2014 Summer Associates satisfaction survey.