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Who are the International Arbitration Elite?
Where are the arbitration stars of the future, and which firms will they call home?In April, when Willkie won the dismissal of the case for Merrill, the firm told us the dismissal ruling was an important clarification of notification standards in the credit default swap arena. It's not looking so important anymore.
All good things must come to an end, and from what we gather the global patent war between Research in Motion and Visto has been a very good thing to the lawyers involved. On Thursday, both companies announced that they had agreed to settle all litigation over RIM's Blackberry patents, with RIM paying Visto $267.5 million. In exchange RIM gets access to all Visto patents and acquires some of its intellectual property.
Manhattan federal district court judge Lewis Kaplan is tossing out Lehman cases as if they were old shoes. Last week it was the ratings agency case; this week it's an ERISA class action.
Citing Lehman's infamous Repo 105 balance transfers, federal district court Judge Lewis Kaplan ruled that most of the claims in the mammoth Manhattan securities class action against Lehman's directors, officers, auditor, and underwriters could move forward.
Four years after regulators began investigating alleged collusion by the banks controlling the CDS market, private antitrust litigation is finally starting to take shape.
Akin Gump triggered a worldwide criminal probe back in 2008 when it accused Pittsburgh-based Alcoa of racketeering and fraud on behalf of Aluminium Bahrain. On Tuesday, the firm beat prosecutors to the punch yet again, wresting a long-awaited settlement from Alcoa.
Weil Gotshal Settles Malpractice Claim
Weil, Gotshal & Manges has settled a legal malpractice case just days before conflict of interest claims against the firm were to have gone before a jury. Legal malpractice trials involving firms like 1,200-lawyer Weil Gotshal are relatively rare. Large law firms usually prefer to settle suits brought against them, fearful that juries will be unsympathetic and that prolonged trials will disrupt practices. Terms of Weil Gotshal's settlement in the case are confidential.Bahrain Aluminum's bribery case against Alcoa was administratively closed in 2008 to allow the Justice Department to build its own criminal case against the company. But Alcoa's lawyers wanted the opportunity to move to dismiss the civil case on the grounds that Bahrain Aluminum's RICO claims are barred by the Supreme Court's Morrison decision. On Tuesday they won their chance.
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