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Long-simmering litigation between Bank of America and one of the major bond insurers finally ended with a settlement this week, but observers are having a tough time making heads or tails of it. The confusion was palpable during an investor conference call with BofA CFO Bruce Thompson on Wednesday.
In-House Counsel Can Cut Budgets While Firms Increase Profits
"What can I do to win your business?" is a question Jason Mark Anderman frequently hears as an in-house attorney at a Fortune 500 company. He also thought it was the wrong question. To him, it exemplified two problems: 1. He did not know enough about the internal pressures a company faced in selecting outside counsel, and 2. he did not have anything uniquely competitive, compared to other firms, to focus on.Bank of America announced Monday that it will pay $1.6 billion to the bond insurer MBIA Inc., bringing an end to one of the most vigorously contested disputes to grow out of the mortgage crisis.
Munger, Tolles & Olson will represent Bank of America and co-defendant Merrill Lynch, while Reed Smith will represent the various Countrywide entities named as defendants in the $10.5 billion suit that AIG and its lawyers at Quinn Emanuel filed against the bank last week over soured mortgage-backed securities.
Expanding Domains: A Primer on the New gTLDs
Attorneys Robert C. Scheinfeld and Parker H. Bagley look at what confronts a company registering a new generic top-level domain name -- and the ensuing legal rights involved.The NYAG's $410 million settlement with J. Ezra Merkin didn't sit well with Madoff trustee Irving Picard, who's still pressing his own $500 million case against Merkin. But Picard can console himself with some welcome news from the Supreme Court, which declined to meddle with his formula for assessing Madoff customer claims.
The $2.15 billion settlement that Lee helped secure this week for Pfizer Inc. is believed to be the largest ever in a patent case. And what's more, says Lee, the deal serves as a warning to generic pharmaceutical companies looking to get a jump on introducing new drugs.
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