Lehman Seeks To Guard Estate From SunCal

Wednesday, Nov 19, 2008

Lehman Brothers Holdings Inc. and its unsecured creditors committee have asked a judge to keep bankrupt real estate developer SunCal Cos. from filing motions in its own bankruptcy that could hurt Lehman.

'Straw Dogs' Unlikely To Doom Obama AG Nominee

Wednesday, Nov 19, 2008

Political experts and politicians alike said Wednesday that, while likely attorney general nominee Eric Holder's controversial role in the Clinton-era pardon of a convicted financier whose wife gave money to Democrats might cause political fireworks, it was unlikely to derail a confirmation.

Women Attorneys Still Earn Less Than Men: Survey

Tuesday, Nov 18, 2008

Women attorneys at the largest U.S. law firms continue to earn less than their male counterparts at every stage of practice and are markedly underrepresented in the leadership ranks, according to a survey published Monday by the National Association of Women Lawyers.

3rd-Party Funding Fuels European Litigation Growth

Tuesday, Nov 18, 2008

Third-party financing of litigation and an increasing acceptance of class action lawsuits in European courts have opened companies there up to litigation risks similar to those in the United States, a major British insurance firm reports.

Teamwork, Turf Wars For State AGs Under Obama

Tuesday, Nov 18, 2008

With a newly minted administration under President-elect Barack Obama set to sweep into Washington promising more regulation and increased enforcement actions in several sectors, is the era of the crusading state attorney general over? Not necessarily, according to attorneys who monitor federal regulations.

Federal Judge OKs WaMu Legal Appointments

Tuesday, Nov 18, 2008

A federal bankruptcy judge has approved the appointment of four law firms to represent Washington Mutual Inc. in its Chapter 11 bankruptcy proceedings.

Regulators Sue BMO Trader Over Gas Options Scheme

Tuesday, Nov 18, 2008

The U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission have sued several individuals for allegedly scheming to inflate the value of Bank of Montreal's natural gas options.

5th Circ. Rebuffs Insurers In Vioxx Settlement

Tuesday, Nov 18, 2008

An appeals court has affirmed the denial of preliminary injunctions in a lawsuit brought by numerous insurance companies against the administrators of the $4.85 billion Vioxx settlement.

Harbinger Asks For Probe Of Lehman Transfers

Tuesday, Nov 18, 2008

Harbinger Capital Partners Special Situations Fund LP is calling for a probe of a transfer of equity stakes held by a brokerage unit of Lehman Bros. Holding Inc. to a nonbankrupt affiliate in the days before the investment bank's collapse.

Cadwalader Looks To Demote Managing Partner

Tuesday, Nov 18, 2008

Bracing for a sharp decline in profits, partners at Cadwalader Wickersham & Taft LLP are reportedly planning to vote for the firm’s managing partner and former chairman to step down from the management committee.

Fired Morgan Stanley Manager Sues For Age Bias

Tuesday, Nov 18, 2008

Former Morgan Stanley & Co. Inc. manager Carl Mayfield, 59, has sued the Wall Street bank, claiming he was fired after 16 years with the company for being too old.

Deloitte 'Pruned' Staff Of Older Employees: Suit

Monday, Nov 17, 2008

A former director at Deloitte & Touche LLP has accused the auditing firm of age discrimination after he was fired as part of what one senior manager referred to as an effort to prune the “older mature professionals” from his division.

Judge Tosses Part Of Sterling, Credit Suisse Suit

Monday, Nov 17, 2008

A federal judge has thrown out part of a case Sterling Federal Bank brought against Credit Suisse and others accusing them of materially misleading the bank about mortgage-backed securities.

H&R Block Loses Appeal Over Insurance Coverage

Monday, Nov 17, 2008

An appeals court has ruled against H&R Block Inc. in a dispute over whether two of the company's insurers were obligated to cover class actions the tax preparation giant faced over its tax refund loan program.

Edwards Angell Lays Off Dozens From Staff

Monday, Nov 17, 2008

The law firm Edwards Angell Palmer & Dodge LLP said on Monday it let go fewer than 60 support staffers from its offices across the U.S.

Robinson & Cole Gains About 30 Ex-Thelen Attorneys

Monday, Nov 17, 2008

Hartford, Conn.-based firm Robinson & Cole LLP has hired nearly 30 intellectual property, real estate, construction, employment and financial services attorneys from the dissolving bicoastal firm Thelen LLP, formerly among the largest firms in the country.

2nd Circ. Revives Investors' Suit Against Hartford

Monday, Nov 17, 2008

An appellate court has remanded a shareholder class action against insurer Hartford Financial Services Group Inc. over kickbacks it allegedly paid to insurance brokers, vacating an earlier decision by a district court to dismiss.

Craig To Serve As Obama White House Counsel

Monday, Nov 17, 2008

Washington trial lawyer Gregory B. Craig, who represented President Clinton during his impeachment proceedings and currently practices at Williams & Connolly LLP, reportedly will serve as White House Counsel under President-elect Barack Obama when he takes office.

Refco Prosecutor Tapped To Monitor TARP

Monday, Nov 17, 2008

Neil M. Barofsky, the federal prosecutor President George W. Bush nominated Friday to be special inspector general of the government's $700 billion bailout for the financial industry, likely will receive confirmation from the U.S. Senate by the end of the week, the Senate Finance Committee chairman said in a hearing Monday.

7 Top Goldman Brass Forgo Annual Bonuses

Monday, Nov 17, 2008

The seven top executives at Goldman Sachs Group Inc. will sacrifice their 2008 bonuses, saving millions as the investment bank and other beneficiaries of the $700 billion federal bailout of the financial sector face growing scrutiny over executive pay.