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When regulators are forced to defend an outcome as soon as it's announced, and when your client's detractors are fuming with anger, you know you've done something right.
The courts have largely ground to a halt for the holidays, though there's still time for few more decisions in 2012 that could ensure a happy or gloomy New Year for the litigators involved. In the meantime, here are some of the biggest rulings we're looking forward to in 2013.
Office of Management and Budget GC Wields Power to Influence Policy
As general counsel of the Office of Management and Budget, Jay Lefkowitz coordinated the Bush administration's deliberations on the stem cell issue and was present at every major meeting where the issue was discussed. Lefkowitz -- who did not require Senate confirmation -- is in a position to vet practically every major policy initiative, from the presidential budget to agency regulations.The AIG litigation machine keeps humming as a New York federal judge declines to dismiss a class action alleging that the insurer misled shareholders about its credit default swap portfolio.
Clifford Chance Faces New Threat of Departures
With its U.S. expansion plans already hurt by East Coast defections, British legal giant Clifford Chance faces a potential Western Front. Some said the firm would have 100 California lawyers by 2002's end -- but not one West Coast lateral partner has been recruited, and last month current partners began leaving. Now, the San Francisco legal community is abuzz about the expected defection of Clifford Chance's West Coast securities litigation group to another firm.Then-New York Attorney Andrew Cuomo announced the state's case against Bank of America over its Merrill Lynch acquisition more than two years ago, promising with great fanfare to hold the bank and two of its executives accountable for an "enormous fraud" to conceal Merrill losses. So why has the case been all-but stalled ever since in New York state court?
LEX POPULI: Investigative Reporting
When journalists collaborate with cops, they may risk liability, not to mention disrepute.Clifford Chance Closes Two West Coast Offices
British legal giant Clifford Chance is closing its San Francisco and Los Angeles offices after partner defections to Orrick, Herrington & Sutcliffe. Clifford Chance said the closings were due to lower-than-expected profitability from the securities litigation group recruited two years ago from now-defunct Brobeck, Phleger & Harrison, but one Orrick-bound partner linked the exodus to Clifford Chance's failure to expand West Coast operations.Trending Stories
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