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March 12, 2012 |

Judge Rebuffs Challenge to N.Y. Ban on Nonlawyer Firm Ownership

A challenge by Jacoby & Meyers to New York state's ban on law firms accepting equity investments from nonlawyers has been dismissed by a federal judge.
4 minute read
October 07, 2012 |

Both Sides Take Heat As Second Circuit Weighs Jacoby & Meyers' Suit Over Ban on Law Firm Investors

After getting hammered by the panel for insisting he had standing to challenge Rule 5.4 of New York's Rules of Professional Conduct, attorney James Denlea watched with pleasure as Judge John Walker asked Assistant Solicitor General Won Shin why the case shouldn't just be remanded with instructions aimed at solving the standing problem.
5 minute read
October 17, 2011 |

Arguments Set for Suit Over Non-Lawyer Ownership Interest Ban

Jacoby & Meyers claims Rule 5.4 violates several constitutional provisions and prevents law firms from securing the outside investment needed to establish and maintain a modern practice.
1 minute read
November 23, 2012 |

Challenge to Ban on Non-Lawyer Owners Is Revived

Jacoby & Meyers got some breathing room on Nov. 21 in its uphill attempt to overturn New York state's ban on outside investments in law firms.
4 minute read
November 23, 2012 |

Second Circuit Revives Challenge to Ban on Non-Lawyer Owners

Jacoby & Meyers has gotten some breathing room in its uphill attempt to overturn New York state's ban on outside investments in law firms.
4 minute read
December 15, 2011 |

Litigation Financing and Non-Lawyer Investment in Law Firms

Evan Glassman and Anthony A. Onorato of Steptoe & Johnson write that the rule prohibiting a for-profit law firm from having non-lawyer shareholders represents a bright line in an otherwise gray area - a Rubicon meant to protect privilege and independent counsel. While "case scale" alternative litigation financing has met with general acceptance, it still raises thorny issues regarding sharing of information and loyalties. These concerns are magnified at the firm level.
10 minute read

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