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GSP Finance alleges that if it hadn't been for KPMG's cover-up of the true condition of the Rangers' owner's finances, the team's lenders would have taken control before the Rangers went into bankruptcy.
Firms Hunting for Stars Re-Examine Partner Compensation
Although the most profitable law firms don't often lose partners to other firms, there's evidence suggesting that even firms with the highest profits per partner have become more vulnerable to the lateral market. In response, some Am Law 100 firms are deploying high-spread compensation systems specifically designed to reward their most valuable partners with more money than they could earn at the most profitable low-spread firms. Think your firm isn't re-examining its compensation system? Don't be so sure.MCI-Verizon Plans to Slash Legal Team
The proverbial blood may soon hit the floor, thanks to Verizon's proposed $6.7 billion acquisition of MCI. The two telecom giants currently boast 357 attorneys, a number set to shrink if the deal proceeds. And outside law firms would likely lose a big client as well. The deal is far from complete, but as Timothy Casey, MCI's former chief technology counsel puts it, "Every firm that has a telecom practice is going to get squeezed" by telecommunications industry consolidation.The Layoff List: By the Numbers
Employment shifts at The Am Law 200, Global 100, and Other Firms of NoteArgued May 22, 2001OPINION OF THE COURTMartin Deutch appeals from the District Court's judgment and orders approving the settlement of a securities fraud class action brought against Cendant Cor
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