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District Judge Robert W. Sweet U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Becker Meisel LLC Attorneys for Movants Sea Carriers Corporation and Per Barr
No. 1 Task for Shearman Leader: Keeping the Firm in the Top Tier
With its illustrious history and posh name, Shearman & Sterling strikes many as the epitome of the patrician, white-shoe New York law firm. But the past few years have seen the 1,013-lawyer firm's image tarnished by associate layoffs, partner departures and signs of internal dissent, all capped by a profitability gap between Shearman and its erstwhile peers. Now the firm may be enjoying a fresh start, due partly to firm leader Rohan Weerasinghe and a 22 percent jump in profits per partner.Class action litigation is beginning to take shape over allegations that major banks manipulated Libor, the benchmark rate used to calculate interest on trillions of dollars in securities globally. On Monday the federal district court judge hearing the litigation consolidated 20 class complaints, and appointed interim class counsel.
Cite as: Eighth Ave. v. Kaye Scholer LLP, 150228/2009, NYLJ 1202485300499, at *1 (Sup., NY, Decided February 17, 2011)Justice Bernard J. Friedp class="deci
Cite as: Eric Reisner v. Litman & Litman, P.C., 18527/07, NYLJ 1202473385518, at *1 (Sup NA, Decided September 14, 2010).Acting Justice Daniel Palmieri
Shoring Up a Faltering Shearman
After a tough few years, Shearman & Sterling has a new leader charged with keeping the 133-year-old patrician firm in the top tier.The private equity industry enjoys a charmed life, with a business model that involves minimal risk and huge payoffs. But is it possible that PE firms—which have thwarted efforts to rein in their special privileges—might not always get their way?
The full case caption appears at the end of this opinion. JACOBS, Circuit Judge:Beginning in 1984, New England Insurance Co. and ITT New England Management Co., Inc. (colle
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