X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Proskauer Rose to open new office in Chicago Proskauer Rose is grabbing three attorneys from Mayer Brown to launch its new office in Chicago, opening the doors with a group of litigators in the insurance arena. The law firm’s Chicago hires will include Mayer Brown partners Steven R. Gilford, Marc E. Rosenthal and Paul L. Langer, according to sources familiar with the firm’s plan. All of the lawyers have focused their work on representing corporate policyholder clients as opposed to insurance companies. Many firms have been opting during the past couple of years to focus on representation of insurance companies instead of the companies that they insure to avoid conflicts of interest that can arise when a policyholder sues its insurer over coverage issues. Proskauer, founded in New York, has been seeking a foothold in the Chicago market since last year. More securities class actions settled in 2007 More companies settled securities class actions for less money on average in 2007 than in the previous year, a new research study shows. And it may get even better in the next few years. The number of cases settled rose by 21%, up from 92 in 2006 to 111 in 2007, according to Cornerstone Research of San Francisco. And although the median value of settlements rose to $9 million, the highest to date, the total value of settled cases in 2007 fell by 60%, to $7 billion, down from the all-time high of $17.2 billion in 2006. This can be attributed, in part, to the 2006 Enron case settlement of $7.2 billion, the largest in history, according to the Cornerstone figures. Bankruptcy to be hot during next 12 months Bankruptcy will be a hot practice area in the next 12 months, according to a survey released by Robert Half Legal. Of the 300 attorneys responding, 45% said they expect more attorneys to be hired in the next year. Twenty-five percent expect growth in bankruptcy and 24% expect growth in litigation. Attorneys also expect corporate governance and intellectual property practices to expand. Some 50% of the attorneys predict that their firms will stay the same size, while 3% expect a decrease. Shareholder suit against H-P directors dismissed A federal judge has dismissed a shareholder class action alleging that Hewlett-Packard Co.’s board of directors violated its own policies in 2005 when it granted more than $40 million in a severance package to former H-P Chief Executive Officer Carly Fiorina, who spearheaded a failed merger with Compaq Computer Corp. The suit was filed by several pension plans against Fiorina and eight current and former directors, including former Chairwoman Patricia Dunn, who was indicted about two years ago on four felony counts, including conspiracy, by then-California Attorney General Bill Lockyer. Those charges were later dropped. Judge Ronald M. Whyte of the Northern District of California made the ruling. Sonnenschein raids group from Sullivan Sonnenschein Nath & Rosenthal has added a group of 16 lawyers and lobbyists to its public law and policy strategies practice in Washington from Sullivan & Worcester. Leading the group, which focuses on energy-related matters, are Clinton Vince, former managing partner of Sullivan & Worcester’s Washington office, and James Costan, also a former partner at Boston-based Sullivan & Worcester. Vince’s practice centers on litigation, project development and legislative and regulatory advocacy. Costan concentrates his practice on public utility, oil and gas and other energy matters. Orlando Vidal also joins Sonnenschein as partner. The group includes two of counsel attorneys, three associates and additional public policy specialists.

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.