Being an in-house lawyer used to be considered a good job, promising things like steady pay, fewer hours and no pressure to bring in new clients. But lately, GCs have been prime targets in the stock options backdating scandal. Last week, closing arguments were heard in the first securities fraud case to be brought against a GC -- Jay Lapine, the former top in-house lawyer for HBOC, now McKesson Corp -- whose 2003 indictment might be seen in retrospect as the beginning of the prosecutorial focus on GCs.
November 02, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Being an in-house lawyer used to be considered a good job. Steady pay, fewer hours and no pressure to bring in new clients made general counsel jobs desirable for attorneys who cared about things other than work.
“GC is where you went when you wanted a life,” said Peter Henning, a professor at Wayne State University Law School and an expert on white-collar law.
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