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No SOX protection for whistleblowers working for contractors of public companies
Employees of privately held contractors or subcontractors of public companies are not eligible for whistleblower protection under the Sarbanes-Oxley Act of 2002, a split panel of the 1st U.S. Circuit Court of Appeals has ruled in a case of first impression. In a vehement dissent, Judge O. Rogeriee Thompson criticized the majority for barring "a significant class of potential securities-fraud whistleblowers from any legal protection."
Dollars in Their Eyes
The expansion of U.S. law firms is giving some Hong Kong associates the chance to nearly double their salaries. Is a pay war about to set a new standard in the market? Or will darkening economic clouds intervene?
Debevoise Wins $28 Million Ruling for Prudential in Suit over State Street Investments
In one of the few cases tied to the subprime meltdown to actually reach trial, a federal judge has ruled that State Street Corp. caused losses in nearly 200 of Prudential Financial's retirement plans by not prudently managing a group of bond funds that heavily invested in subprime mortgage-backed securities.
Prop 8 Merits Ruling Will Be Issued Tuesday
The 9th U.S. Circuit Court of Appeals on Tuesday will release its much-anticipated ruling on the constitutionality of the Proposition 8 ban on same-sex marriage. And in gay-rights corners, the mood is undeniably optimistic.
Part-time law school losing allure
According to the Association of American Law Schools, lagging employer support, workers' fears about losing their jobs, the growing popularity of MBA programs, rising tuition and the tough legal job market all are contributing to declining enrollment in part-time law school programs.
DLA Piper's Browning Marean on E-Discovery Proportionality
Browning Marean, senior counsel at DLA Piper, speaks to LTN magazine's editor-in-chief, Monica Bay, about the challenges of fashioning responses to discovery requests that are appropriate -- and proportional -- to a case.
Judge John Facciola on E-Discovery Training at a Crossroads
D.C. District Judge John Facciola speaks with LTN magazine's editor-in-chief, Monica Bay, about how e-discovery training is at a crossroads, constrained by limited financial resources at the governmental level. He proposes several solutions to address these challenges, particularly when individuals are unable to meet face to face.
Litigator of the Year Winner - David Boies
The Boies, Schiller & Flexner founder explains how he prepared for the key cross-examinations in the Proposition 8 case.
Intel's Jerone English on Leveling the EDD Playing Field
Jerone English, director of e-discovery for Intel, speaks to LTN magazine's editor-in-chief, Monica Bay, about how rank-and-file lawyers can get up to speed on the latest electronic data discovery policies and procedures.
Medical Device Maker Agrees To $16.8M Penalty In Bribery Case
Medical device maker Smith & Nephew will pay $16.8 million to resolve claims that company officials made illegal payments to public health officials in Greece, the U.S. Justice Department said Monday. The company disclosed misconduct to the DOJ and the SEC, according to a deferred prosecution agreement.
With $110 Million JPMorgan Deal, Settlements in Overdraft MDL Top $619 Million
JPMorgan Chase disclosed in a court filing Friday that it had tentatively agreed to pay $110 million to settle consolidated class action claims that it overcharged customers for overdraft fees. Combined settlements in multidistrict overdraft litigation against about 30 banks now exceed $619 million.
Generic Drugmakers Settle Class Action Over Antidepressants
Less than a year after the U.S. Supreme Court's landmark ruling in Pliva v. Mensing, two generic drugmakers have agreed to the national settlement of a class action alleging that their version of a popular antidepressant drug was not as therapeutically effective as the brand-name drug.
Obama Picks Arnold & Porter Partner To Lead DOJ Antitrust Division
Arnold & Porter partner William Baer is President Barack Obama's pick to lead the Justice Department's antitrust division. Obama on Friday formally announced he was sending Baer's nomination to the U.S. Senate.
The Am Law 100, the Early Numbers: Paul, Weiss Reaches Firm Highs in Revenue, Profits
Though rising only modestly, Paul Weiss' gross revenue and profits per partner hit record levels last year, according to The American Lawyer's reporting. However, if a 2010 contingency fee is left out of the equation, the firm's gross revenue jumped by 19 percent in 2011, said the firm's chairman.
The Am Law 100, the Early Numbers: For Sidley, Silicon Valley Office Helps Boost Revenue, Profits
After enduring a flat 2010, Sidley Austin saw gross revenue rise nearly 6 percent and profits per partner jump almost 10 percent in 2011, thanks partly to its Palo Alto, Calif., location posting an almost 50 percent increase in revenue. The 21-lawyer office opened in 2009.
The Am Law 100, the Early Numbers: Revenue Inches Up at Patterson Belknap, Profits and RPL Dip
Though slight, Patterson Belknap's top-line growth was good enough to push its 2011 gross revenue figure above what the firm collected in a record-setting 2010. Adding 11 lawyers to keep up with an increasing workload helps explain why revenue per lawyer and profits per partner were down from prior highs.
Divorcee Slapped With Record-Setting $552K Sanction in Custody Case
Following what one attorney called "the divorce from hell" and more than six years of cross-country legal filings and accusations of bad behavior between two wealthy people, a California appeal court has upheld record-setting sanctions against a divorcee in a nasty custody battle with her ex-husband.
Koch Industries GC on Politics and the Keystone Pipeline
As House Republicans push for a committee vote on a bill to move the Keystone XL pipeline project forward, opponents are dragging Koch Industries into the controversy -- even though it claims no interest in the bill. Koch's general counsel says the flap stems from false statements by a blogger.
7th Circuit revives claims of former associate against Kanoski firm
Two of a lawyer's claims against his former firm for a cut of case settlements after he was fired can move forward, the 7th Circuit has ruled. A unanimous panel revived part of Lawrence Hess' case against Springfield, Ill.-based Kanoski & Associates, which does personal injury work.
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