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From Partner to General Counsel to Defendant
Just a few months ago, Mark Belnick was the chief corporate counsel at Tyco International. He enjoyed a sterling professional reputation, hard-earned during some 25 years at a top New York law firm. But on Sept. 12, the Manhattan district attorney's office and the SEC filed criminal and civil charges against him and two other Tyco executives, alleging they defrauded the company. What happened?The firm's client, Cargill, was the last high-fructose corn syrup maker to be awarded damages against Mexico in a case that alleged Mexican favoritism for domestic sugar manufacturers. But its revenge was plenty sweet: $77 million.
Big companies and their allies say state AGs violate the rights of defendants and create unwholesome conflicts when they hire private contingency fee counsel to stick up for citizens' interests. Thankfully, says columnist Susan Beck, West Virginia's highest court has joined a series of previous decisions and cast those claims aside.
This has been a good week for the IRS, and not so good for those trying to avoid IRS scrutiny. On Thursday the IRS won a ruling by the First Circuit U.S. Court of Appeals in U.S. v. Textron that may give it much greater access to internal materials prepared by corporate taxpayers.
Labaton Sucharow and Berman DeValerio Pease Tabacco Burt & Pucillo get the nod--but there wasn't much competition. Plus: How many securities class actions were filed in 2008, anyway?
Alschuler Grossman's Great Divide
Marshall Grossman and Larry Stein, the heavyweights behind Alschuler Grossman Stein & Kahan, officially divorced Jan. 1 after a yearlong tug-of-war over the future of the 90-lawyer firm they fused together seven years ago. Now they have their own firms, just one floor apart in a Santa Monica, Calif., building. The split leaves Grossman (pictured) head of a 40-plus-lawyer commercial litigation firm with a shortened name -- Alschuler Grossman -- and with thoughts of making a quick marriage to a national firm.A federal judge in Arizona refused to dismiss claims that Greenberg helped to facilitate a $200 million fraud allegedly run by its former client, Mortgages Ltd.
Theranos Inc. and its lawyers at Boies Schiller claimed that McDermott, Will & Emery failed to stop a former partner from funneling the company's confidential information to family members pursuing competing patents.
China Tries New Tactics in Patent Fight
As China strives to shed its counterfeiter image and enhance its global economic standing, litigation against the country is growing. Because losing a suit could block entry to the U.S. market, Chinese companies are hiring prominent American law firms to represent them in U.S. courts. "What we're seeing now is that the Chinese are becoming much more educated about the IP system and what they can and cannot do," says Cecilia Gonzalez, Howrey's intellectual property practice co-chair.Trending Stories
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