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Former IndyMac CEO Michael Perry emerged from humble beginnings to head once one of the biggest regional banks in the country. Then, in 2008, he had a spectacular fall from grace. IndyMac collapsed, and Perry eventually got sued by both the SEC and the FDIC. But thanks to Veta, Perry has now gone a long way toward clearing his name.
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.
Noncompete Pact Enforceability
A recent NY Court of Appeals ruling upholding partial enforceability of an accounting firm's noncompete agreement is expected to prompt more employers to impose similar agreements on employees who interact with company clients, according to employment attorneys. The decision could also encourage courts faced with overly broad noncompete agreements to consider partial enforcement as an alternative to complete invalidation.Washington Catches the Associate-Raise Fever
O'Melveny & Myers said Thursday it would increase its first-year associate salaries in Washington, D.C., to $145,000 -- and in turn threw down a challenge to D.C.-based firms, saying the market for talent had changed. Following that announcement, Hogan & Hartson almost immediately said it was matching the number. The latest raises come on the heels of a flurry of pay increases during the past few days in other key legal markets.This could be a game changer, folks--and it couldn't come at a more critical moment for opponents of the deals that keep generic drugs off the market.
The Justice Department has been accused by a bankruptcy judge of engaging in "unacceptable conduct" in reaching a settlement with Kaye Scholer, which in turn has been blamed for acting unethically in advising GSC Group in the investment firm's Chapter 11 proceedings. Judge Shelley Chapman's attack on the department came during a Tuesday hearing.
FCC's Role in Telecom Mergers Questioned
Charging that the Federal Communications Commission's review of telecommunications industry mergers is impeding competition, several members of Congress are pushing proposals to alter the agency's role in the process. Some say the FCC is slowing down deals among phone, cable and wireless companies by sitting on merger applications, applying arbitrary evaluation standards and imposing costly conditions on merging parties.Trending Stories
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