Thank you for sharing!

Your article was successfully shared with the contacts you provided.
DOJ BAGS $ 84M IN ONGOING TECH CASE After extracting more than $650 million in criminal fines from tech firms that conspired to fix computer memory prices, the Justice Department’s antitrust division Monday announced another victory in the ongoing case: Elpida Memory Inc., a Japanese manufacturer of Direct Random Access Memory � DRAM � has agreed to pay $84 million in criminal fines. Elpida is the fourth DRAM maker since 2004 to enter a guilty plea (the last, Samsung, agreed to pay $300 million in May), and prosecutors working on the case said there may be more. “The investigation is continuing,” said Phillip Warren, chief of the antitrust division’s San Francisco office, which has carried out the prosecutions. “It is certainly not over by any means.” Lead prosecutor Niall Lynch said the Elpida plea deal � similarly to the three before it � leaves five executives open to future prosecution. “We’ve identified carve-outs, people who were not covered by the plea agreement,” Lynch said. � Justin Scheck DRINKER TO INCREASE ITS SALARY PARTNERS PHILADELPHIA � Drinker Biddle & Reath is moving more to a two-tiered partner system, according to a Jan. 11 internal memorandum written by Chairman Alfred Putnam Jr. and executive partner Andrew Kassner, with the firm “utilyz[ing] the category of salary partner with increased frequency.” The firm first introduced elements of the system in a 2003 document, although at that time it stated Drinker Biddle would “remain predominantly a single-tier equity partnership.” That’s now changed, according to the new policy statement issued Nov. 22 and distributed along with the Jan. 11 memo. According to the Jan. 11 memo on associate compensation and promotion, “the revisions reflect the determination of the partnership that the salary partner title will be used with increasing frequency in partnership admission, but associates will be considered for admission for equity partnership as well.” As of Oct. 1, the firm had more than 30 salary partners, according to the memo. According to its Web site, the firm currently has close to 200 partners. The salary-partner tier was originally introduced because of the increase in lateral hires, the expansion and creation of practices, and economic changes in large law firm management, according to the memo. “This trend will continue, and while the firm will advance its most qualified and promising associate candidates directly to equity partner, given the evolution of the practice and business of law, including the increased specialization of practice groups and practice ‘teams,’ the firm will utilize the category of salary-partner with increased frequency to address both the short- and long-term economic requirements of practice areas.” � The Legal Intelligencer

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.