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Bank collapses cause new fear for lawyers
Following the failure of California's IndyMac and the very real potential of other bank collapses, lawyers have been flooding bar associations with questions about whether they would be responsible for client trust accounts if a bank fails.In response, bar associations have been posting guidance to lawyers on their Web sites, holding internal meetings on the issue and issuing formal ethics opinions.Plaintiffs Attorneys Get Big Fees From $750 Million Xerox Settlement
Attorney fees have been decided in one of the top securities fraud settlements in American history. On Jan. 14, a district court judge in Connecticut awarded $120 million in fees, plus $3.3 million in costs, in the case accusing Xerox of overstating its earnings from 1997 to 2001. Plaintiffs counsel were initially seeking a 20 percent cut of the $750 million settlement. Still, their ultimate 16 percent take was the largest among the top 10 class action securities fraud settlements since 1995.The Am Law 100, the Early Numbers: After Two Down Years, Debevoise Sees Revenue Rise
Camden Co. Agrees to $4 Mil. Settlement For Murdered Inmate
The family of a 65-year-old man who was raped and beaten to death in the mental health ward of the Camden County Correctional Facility has reached a $4 million settlement with the county and jail.Lawyers Close Acquisition Despite Hurricane, Market Meltdown
Imagine trying to complete an acquisition without power or cell phone service in a city ravaged by a hurricane, during the midst of a financial meltdown that shot holes in the deal's once-solid financing. That's what lawyers representing ION Geophysical Corp. had to cope with to finish acquisition of Canadian company ARAM Systems Ltd. for $236 million in cash plus ION common stock.Events Focus on Diversity, Solo and Small-Firm Lawyers
The New Jersey State Bar Association will hold two of its signature events in the coming weeks: the third annual Diversity Summit on Feb. 25 and the fourth annual Solo and Small-Firm Conference on March 2.Trending Stories
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