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Reed Smith Opens Shanghai Office
Reed Smith has opened its third office in China with the creation of an outpost in the country's most populous city, Shanghai. The firm already has offices in Hong Kong and Beijing, with 120 lawyers between them.Denial of $473M Tax Refund to Merck Upheld on Appeal
Merck & Co. Inc. is not entitled to a refund of $473 million in taxes paid when a tax-avoidance strategy failed, a federal appeals court holds.Revisiting Drug Sentencing, Determining Amount in Controversy
In their Eastern District Roundup, Harvey M. Stone and Richard H. Dolan, partners at Schlam Stone & Dolan, discuss an evidentiary hearing regarding a new amendment to the Sentencing Guidelines; a financial penalty imposed on a traveler to Cuba for failing to provide information about the unauthorized trip; and the finding that limitations on attorney fees under applicable law prevented a plaintiff from meeting the $75,000 "amount in controversy" requirement.Shale Boom Keeps Firms Busy With Fracking Deals
Shale continues to fuel not just the energy industry but also some of the United States' largest law firms. Skadden and Akin Gump have picked up key advisory roles on a $742 million deal, while another $300 million shale deal has received regulatory approval, and K&L Gates is launching a new energy, infrastructure and resources practice group.Billing rates on rise for third year in a row
Law firm billing rates are on the rise, but modesty is the operative word. The average increase in firmwide hourly rates was 4.4 percent this year.Trending Stories
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