0 results for 'Bankruptcy'
All but two circuits interpret 'Twombly' broadly
The U.S. Supreme Court changed the landscape for motions to dismiss when it decided Bell Atlantic Corp. v. Twombly, (2007). The court declared that, to survive a motion to dismiss, a complaint must "raise a right to relief above the speculative level" and "state a claim to relief that is plausible on its face." The Supreme Court labeled the new standard the "plausibility standard." But how have courts across the country interpreted the "plausibility standard"?Appeals Court: N.Y. Firm Liable for Acts of Retained Fla. Counsel
A New York law firm can be held liable for the failure of a Florida firm it retained to file a client's claim to more than $1.2 million from a Florida estate, an appeals court decided on July 17. Client Alice Whalen was not aware that her Albany firm, DeGraff, Foy, Conway, Holt-Harris & Mealey, was going to arrange for the Florida firm to file the claim when the estate of Julius Gerzof opened in Florida in 1996, and she relied "completely" on DeGraff Foy to stake her claim to the money.Departures Shrink Kirkland's L.A. Office
Chicago-based juggernaut Kirkland & Ellis has continued to increase head count, revenue and profits firmwide. But in Los Angeles, key rainmakers are making less rain, and departures in the last six months have brought the 115-lawyer office to about 90 attorneys. With some of its leading lawyers reaching a stage where they're choosing to slow down, around 20 attorneys -- half of them partners -- have left the L.A. office over the last half year, some for top competitors.Law Firm Boyd & Jenerette Leaving Miami Market
Two years after launching a Miami office, Jacksonville-based Boyd & Jenerette is pulling out of the market this month.View more book results for the query "Bankruptcy"
Lehman raising $6B in capital, expects $2.8B loss
NEW YORK AP-Lehman Brothers Holdings Inc. on Monday said it will raise $6 billion in new capital to shore up its balance sheet after saying it expects to post an unexpectedly large second-quarter loss of nearly $3 billion.Shares of the nation's fourth-largest investment bank fell about 9 percent amid mounting concerns about its exposure to the mortgage market.Greenberg Traurig and Quarles & Brady have agreed to fork over a combined $87.5 million to resolve claims that they failed to put the brakes on a $900 million Ponzi scheme carried out by two mortgage-industry clients.
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