Class action litigation is beginning to take shape over allegations that major banks manipulated Libor, the benchmark rate used to calculate interest on trillions of dollars in securities globally. On Monday the federal district court judge hearing the litigation consolidated 20 class complaints, and appointed interim class counsel.

At the Justice Department, Mendelsohn pushed to make Foreign Corrupt Practices Act cases a priority. In so doing, he generating a boom in demand for FCPA defense lawyers. Now he--and his new firm--are poised to benefit from his entry into the market he created.