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New Patriot Act Rules Take Hold for Financial Institutions
Nearly two years after passage of the USA Patriot Act, another piece of the law kicked in last week as new regulations designed to combat the financing of terrorist activity and international money laundering began being enforced.
Small-Firm Litigator Is a Master at Picking Teams
Colleagues and clients concur that it is unusual to find a litigation practice of Taylor & Co.'s caliber in a four-attorney package. Sole partner Stephen Taylor charges $650 per hour on IP matters that few small-firm lawyers are called on to do. The firm works for technology companies and handles professional liability for the San Francisco Bay Area's large law firms and general litigation matters for venture capital firms. Even opposing counsel refer work to Taylor when they have a conflict.Judge Has No Case Against TV Station
Allegheny Common Pleas Judge Jeffrey A. Manning's defamation suit against a Pittsburgh TV station that ran a story in which sources alleged that the jurist uttered a racial slur during a 1995 disagreement with an airport baggage handler was properly dismissed, the Superior Court has ruled in a 2-1 decision.'Say on Pay' Policies Stir Debate Among Attorneys
During the past year, policies giving shareholders a nonbinding vote on how much executives are paid have taken off in the business world, fueled largely by public outrage over exorbitant executive salaries. The reaction among corporate attorneys who are advising their clients on formulating such policies ranges widely, with some calling them a nuisance that grants too much power to shareholders and others calling them a valuable safety valve that could help prevent litigation.
N.J. First-Year Associate Pay Pushed Up 7 Percent
New Jersey firms bumped up first-year associate salaries this year to an average of $106,410. The fact that salaries, which had been increasing only modestly since the late 1990s, are entering a boom phase means law firms are busy and need to staff up. And while they can't match New York or Philadelphia salaries, Kirkpatrick & Lockhart Nicholson Graham's William Hyatt Jr. says New Jersey has an edge in other respects: "the number of hours expected from associates, the camaraderie, the quality of life."
Hogan and Lovells Partners Approve Merger
Partners at Hogan & Hartson and Lovells signed off on their megamerger in separate votes that ended at midnight on Monday. The move is one of the last big hurdles before the two firms officially set up shop, which is planned for May 1. "This is a great day for us," Hogan's chairman J. Warren Gorrell Jr. said Tuesday. In spite of the vote, the two firms still have several issues to work out, including overlapping offices and practice areas. The merged firm, with 2,500 lawyers, will be called Hogan Lovells.Trending Stories
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