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Top StoriesFriday, January 27, 2012

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2nd Circuit Faults Use of State Law to Block $17 Billion Chevron Judgment

Following through on a September ruling vacating a preliminary injunction issued by Southern District of New York Judge Lewis Kaplan, the 2nd Circuit has ruled that New York law and the principles of international comity denied Kaplan the authority to block throughout the world the enforcement of a $17.2 billion environmental judgment secured against Chevron in Ecuador.
Related story: For more on the case, see Where the 2nd Circuit Leaves Chevron

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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.

AG Holder 'Bound and Determined' for Justice in Residential Mortgage Securities Market


2:15 P.M. EST

The financial fraud group that is investigating the market for residential mortgage-backed securities has already issued civil subpoenas to 11 financial institutions, Attorney General Eric Holder Jr. said Friday in formally announcing the team of lawyers and federal agents.

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Are EU and Google Data Policies the Future of Online Privacy?

Last week, the European Union proposed an overhaul of its data protection law, and Google announced a new privacy policy for its users. With the FTC and the Department of Commerce getting ready to join the global chorus, what does this sudden explosion in attention to data privacy mean for companies?
See related story: Google Privacy Changes Spur Fury, Not Filings

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Ad Agency's Copyright Suit Against Law Firm Heads to Trial


12:45 P.M. EST

An advertising agency's copyright suit against personal injury firm Parker Waichman can move forward to trial next month, but without a breach-of-contract claim. Market Masters-Legal claims the firm, a former client, improperly used certain phrases, sounds and visual effects in ads created by the agency.

More Bloodletting at Legal Services

Civil legal aid groups that receive money from the Legal Services Corp. estimated that they will cut 163 lawyers and 230 other employees this year after Congress trimmed the agency's budget by 14 percent for fiscal 2012, according to an LSC survey released Thursday.

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The Power of Hope

The American Lawyer

While the nation's 100 highest-grossing firms rebounded from a disastrous 2009 by posting healthy gains in 2010, gains at the Second Hundred were less robust. The Second Hundred's total gross revenue rose 2.2 percent, to $17.46 billion in 2010 from $17.08 billion in 2009, while average revenue per lawyer increased just 1.5 percent, to $579,749 from $570,999. Average profits per partner rose 3.4 percent, to $665,665 from $643,580. So why aren't they worried?

 

The 2011 AmLaw 200

 

Gross Revenue

 

RPL Top 20

 
VIEW ALL OF THE "AMLAW 200"
Am Law 100 2011

The American Lawyer

After watching profits per partner sink 4.3 percent in 2008 and revive only 0.3 percent in 2009, Am Law 100 firms finally posted a healthy increase—8.4 percent—in 2010. But much of that gain is attributable to firms’ aggressive cost-control measures, especially in the area of headcount, which dropped 2.7 percent over 2009. As a result, growth in revenue per lawyer—the most reliable measure of the overall financial health of law firms—was more tepid, 4.4 percent

 

Overview: Back in Black

 

Gross Revenue

 

Revenue Per Lawyer

 
VIEW ALL OF THE "AMLAW 100"
NLJ 250

The National Law Journal

The NLJ 250, The National Law Journal's annual survey of the nation's largest law firms, shows that Big Law continued to shed lawyers at a brisk clip in 2010. Nearly 2,900 fewer lawyers worked for the 250 top firms last year. That's in addition to the approximately 6,600 attorneys who departed in 2009. In the 34 years The NLJ has been surveying large firms to gather headcount numbers, there have never been multiyear declines of this magnitude.

 

THE 2011 NLJ 250

 

Branch Offices

 

Gains & Losses

 

Largest U.S. Law Offices

 
VIEW ALL OF THE 'NLJ 250'
Corporate ScorecardIllustration:Tavis Coburn

The American Lawyer

Since the early days of our survey, which ranks the world's largest law firms by revenue, international reach and profit have seemingly grown hand in hand. But when one examines the performance of individual firms in 2010 or charts their performance over time, it is unclear if there is truly a causal relationship between global expansion and financial success. Star performers can be found among the most stubborn homebodies and the most persistent imperialists.

 

The 2011 Global 100: Most Revenue

 

The 2011 Global 100: Most Profits Per Partner

 

The 2011 Global 100: Most Lawyers

 
VIEW ALL OF "GLOBAL 100 2011"
 
 
 
 
 

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Holland & Knight Adds 4 West Coast Laterals

The Recorder

Holland & Knight has bolstered its West Coast offices with four attorneys: two in wealth management services, one in structured finance and one litigator, from Reed Smith, Keesal Young, and Greenberg & Glusker. Holland & Knight's West Coast lateral hiring partner says the firm is coming off a good 2011 and is adding lawyers in practices where demand is up.

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