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New York Pulse
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Yieldstreet Investors' $9M Deal Over Risky Offerings OK'd
A New York federal judge has given his preliminary blessing to a settlement worth up to $9 million resolving a class action by Yieldstreet investors who accused the online platform of offering "riskier-than-junk-bond investments" to the public that caused the plaintiffs to lose millions of dollars in defaulted loans.
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Bannon Released From Prison As Election, NY Trial Loom
Former President Donald Trump ally Steve Bannon was released from federal prison Tuesday after serving a four-month sentence for contempt of Congress, a week before Election Day and a month and a half ahead of his next criminal trial in New York.
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Share Of New Partners Who Are Women Decreased This Year
More than 80 major law firms had new partner classes in 2024 made up of at least 50% women, according to an analysis released Tuesday by a think tank focused on diversity and workplace flexibility. However, the analysis also found that the proportion of new U.S.-based partners who are women decreased.
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Episcopal Church Pension Group Names New CLO
Church Pension Group, a financial services organization providing benefits, insurance and publishing for the Episcopal Church, has named a seasoned in-house attorney its next top lawyer, who brings with her nearly two decades of experience mostly focused on finance, corporate governance and compliance.
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Experienced Financial Atty Named Wealth Manager's New GC
Focus Financial Partners Inc. announced that a longtime attorney at LPL Financial was named the New York-based wealth manager's general counsel as part of a series of leadership appointments.
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Blood Cancer Org. Gives Interim GC Permanent Role
The Leukemia & Lymphoma Society announced Tuesday that the New York-based research nonprofit has promoted its interim general counsel and chief legal officer to the role on a permanent basis as part of a group of leadership appointments.
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Akerman Hires 2 IP Partners From Kilpatrick In NYC
Akerman LLP announced Monday that two former partners at Kilpatrick Townsend & Stockton LLP are the latest additions to its intellectual property practice group in New York City.
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Approach The Bench: Judge Rosenthal Praises Zoom Hearings
While U.S. District Judge Lee Rosenthal calls the pandemic a disaster that "discombobulated" the federal courts, she thinks there was also a silver lining to the experience.
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How Certifications Became Ubiquitous For Privacy Attorneys
As privacy has become a more prominent and popular practice area, many attorneys have turned to certifications offered by the International Association of Privacy Professionals to market their skills, with those in the field saying that the popularity is the result of privacy's rapid evolution and the ubiquity is unlikely to diminish.
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The Psychology Of Top Firms' Growing Partner Pay Spreads
Dan Binstock, a legal recruiter who works with top law firms, recently said to me about partner pay, "You can never please everybody."
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Law Prof Calls Out Atty Fees, Workarounds In NAR Deal
A University at Buffalo Law School professor on Monday urged a federal judge to reject the National Association of Realtors' $1 billion settlement in an antitrust class action, arguing the deal only serves to enrich lawyers in the case while allowing an anticompetitive system to continue.
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Becker Appoints 5 New Vice Chairs, Chief Business Officer
Becker & Poliakoff PC announced Monday that the Florida-based firm appointed four of its attorneys and a senior director as vice chairs of their respective practices, along with giving its chief strategy officer the additional role of chief business officer.
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NY Firm Sued Over Botched $5M Art Collector Ch. 7 Dispute
A family enmeshed in New York's art world is suing their former attorneys in relation to a dismissed bankruptcy proceeding with an art collector over a breach of contract, alleging the attorneys' incompetence lost them $5 million when they moved the case from state court to a Chapter 7 bankruptcy filing.
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Ozy Media CEO Wants Conviction Nixed Over Judge's Assets
The New York federal judge who presided over the fraud and identity theft trial of former Ozy Media CEO Carlos Watson should be disqualified from the case because he failed to disclose that he had investments in four of the companies victimized by Watson, according to the onetime executive, who is trying to get his conviction overturned.
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Longtime New York Federal Judge John F. Keenan Dies At 94
U.S. District Judge John Fontaine Keenan of the Southern District of New York, a jurist of more than four decades who presided over major cases — like the litigation stemming from one of the world's deadliest industrial disasters in Bhopal, India, and the trial of former Filipino first lady Imelda Marcos — died on Sunday, according to a district source. He was 94.
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MSG Entertainment's New Top Lawyer Saw Comp Eclipse $2M
The interwoven business holdings of New York's Dolan family made major securities filings last week revealing that Madison Square Garden Entertainment paid its new general counsel just over $2 million in total compensation in fiscal 2024, and that separate company Madison Square Garden Sports has hired a new top legal officer.
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J. Crew Asks Court To Ratify Ex-GC's Arbitration Loss
J. Crew is asking a New York federal judge to confirm an arbitrator's ruling from earlier this month that found it hadn't fired its former legal chief, Maria DiLorenzo, in retaliation for her complaints about colleagues' discriminatory comments about her hearing loss.
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Simpson Thacher Taps Atty Duo As 1st Banking Team Leaders
Simpson Thacher & Bartlett LLP has named two longtime New York City-based partners, including the co-head of its global banking and credit practice, as the first co-leaders of its global investment banking practice, the firm announced Monday.
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Maynard Nexsen Creates Business Advisory Services Team
Maynard Nexsen PC has launched a new business advisory service aimed at privately held and family-owned businesses that will help steer clients through succession planning, mergers, risk management and other needs from both a legal and business perspective, according to a Monday announcement.
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King & Spalding Adds White & Case Antitrust Litigator In NY
King & Spalding LLP is expanding its business litigation team, announcing Monday it is bringing in a White & Case LLP litigator as a partner in its New York office to boost its antitrust capabilities.
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Longtime A&E Atty Retires As Entertainment Co.'s CLO
A&E Networks announced Monday that its chief legal officer will retire after 11 years, with the company's deputy general counsel set to succeed him in February.
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Linklaters Adds 4 A&O Shearman Finance Partners In NY
Linklaters LLP announced Monday the addition of four partners from the recently merged Allen Overy Shearman Sterling to the firm's finance division, deepening its U.S. capital markets and restructuring offerings in New York.
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NJ Suspends Ex-Carter Ledyard Partner After NY Disbarment
The New Jersey Supreme Court has ordered the indefinite suspension of a former Carter Ledyard & Milburn LLP partner, two years after a New York state appeals court disbarred the lawyer for ignoring subpoenas and failing to cooperate in a fee investigation.
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Kennedys' New Head Steps Up In 'Evolving' Insurance World
Meg Catalano, who was named Kennedys’ new global managing partner this week, joined Law360 Pulse to discuss her vision for the role and how the firm looks to stay on top of client needs in a volatile world under her leadership.
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NYC Bar Rates 4 Sitting Judges 'Not Approved' For Reelection
The New York City Bar Association announced Friday that four sitting judges in state and city courts seeking reelection had failed to show the qualifications needed to perform their duties, a rebuke that hasn't been seen in recent years.
Expert Analysis
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Series
Ask A Mentor: How Do I Balance Social Activism With My Job?
Corporate attorneys pursuing social justice causes outside of work should consider eight guidelines for finding equilibrium between their beliefs and their professional duties and reputation, say Diedrick Graham, Debra Friedman and Simeon Brier at Cozen O'Connor.
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Personality Tests And Machine Learning Applications In Law
Mateusz Kulesza at McDonnell Boehnen looks at potential applications of personality testing based on machine learning techniques for law firms, and the implications this shift could have for lawyers, firms and judges, including how it could make the work of judges and other legal decision-makers much more difficult.
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AI Is Reshaping Lawyering: What To Expect In 2024
The future of lawyering is not about the wholesale replacement of attorneys by artificial intelligence, but as AI handles more of the routine legal work, the role of lawyers will evolve to be more strategic, requiring the development of competencies beyond traditional legal skills, says Colin Levy at Malbek.
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Embrace Active Voice In Legal Writing — In Most Cases
Legal writers should strive to craft sentences in the active voice to promote brevity and avoid ambiguities that can spark litigation, but writing in the passive voice is sometimes appropriate — when it's a moral choice and not a grammatical failure, says Diana Simon at the University of Arizona's James E. Rogers College of Law.
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Series
Ask A Mentor: How Can I Help Associates Turn Down Work?
Marina Portnova at Lowenstein Sandler discusses what partners can do to aid their associates in setting work-life boundaries, especially around after-hours assignment availability.
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How AI Legal Research Tools Are Shifting Law Firm Processes
Although artificial intelligence-powered legal research is ushering in a new era of legal practice that augments human expertise with data-driven insights, it is not without challenges involving privacy, ethics and more, so legal professionals should take steps to ensure AI becomes a reliable partner rather than a source of disruption, says Marly Broudie at SocialEyes Communications.
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Data Source Proliferation Is A Growing E-Discovery Challenge
With the increased usage of collaboration apps and generative artificial intelligence solutions, it's not only important for e-discovery teams to be able to account for hundreds of existing data types today, but they should also be able to add support for new data types quickly — even on the fly if needed, says Oliver Silva at Casepoint.
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Bracing For A Generative AI Revolution In Law
With many legal professionals starting to explore practical uses of generative artificial intelligence in areas such as research, discovery and legal document development, the fundamental principle of human oversight cannot be underscored enough for it to be successful, say Ty Dedmon at Bradley Arant and Paige Hunt at Lighthouse.
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Why I Use ChatGPT To Tell Me Things I Already Know
The legal profession is among the most hesitant to adopt ChatGPT because of its proclivity to provide false information as if it were true, but in a wide variety of situations, lawyers can still be aided by information that is only in the right ballpark, says Robert Plotkin at Blueshift IP.
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Series
Ask A Mentor: How Can I Use Social Media Responsibly?
Leah Kelman at Herrick Feinstein discusses the importance of reasoned judgment and thoughtful process when it comes to newly admitted attorneys' social media use.
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Yada, Yada, Yada: The Magic Of 3 In Legal Writing
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Attorneys should take a cue from U.S. Supreme Court justices and boil their arguments down to three points in their legal briefs and oral advocacy, as the number three is significant in the way we process information, says Diana Simon at University of Arizona.
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How Firms Can Stop Playing Whack-A-Mole With Data Security
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In order to achieve a robust client data protection posture, law firms should focus on adopting a risk-based approach to security, which can be done by assessing gaps, using that data to gain leadership buy-in for the needed changes, and adopting a dynamic and layered approach, says John Smith at Conversant Group.
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5 Life Lessons From Making Partner As A Solo Parent
Laranda Walker at Susman Godfrey, who was raising two small children and working her way to partner when she suddenly lost her husband, shares what fighting to keep her career on track taught her about accepting help, balancing work and family, and discovering new reserves of inner strength.
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Series
Ask A Mentor: How Can I Turn Deferral To My Advantage?
Diana Leiden at Winston & Strawn discusses how first-year associates whose law firm start dates have been deferred can use the downtime to hone their skills, help their communities, and focus on returning to BigLaw with valuable contacts and out-of-the-box insights.
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Resume Gaps Are No Longer Kryptonite To Your Legal Career
Female attorneys and others who pause their careers for a few years will find that gaps in work history are increasingly acceptable among legal employers, meaning with some networking, retraining and a few other strategies, lawyers can successfully reenter the workforce, says Jill Backer at Ave Maria School of Law.