Before: Newman, Calabresi, B.D. Parker, C.JJ. U.S. COURT OF APPEALS SECOND CIRCUIT Thomas A. Dubbs (James W. Johnson and Barry Michael Okun, on the brief), Labaton Such

Quinn Emanuel's litigation record is still impressive by any measure. But last month's high-profile loss against Apple is an unwelcome reminder that even the winningest firms have to lose sometimes.

District Judge William H. Pauley U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Co-Counsel for Plaintiff: Samuel H. Rudman, Esq., David A. Rosenfeld, Esq., Jarrett S.

Without admitting or denying any wrongdoing, JPMorgan agreed to pay $153.6 million--including a $133 million penalty--to resolve allegations that it marketed an ill-fated collateralized debt obligation without disclosing the role of a hedge fund that was shorting assets in the CDO.

After a hostile reception by the Justices at oral arguments, plaintiffs lawyers doubted the high court would endorse U.S. securities claims by foreign investors who bought shares of foreign companies on foreign exchanges. They just prayed the damage would be limited. Those hopes were dashed by the Court's unanimous ruling Thursday. We've got analysis from the lawyers who argued both sides at the Court.

The Global Lawyer last examined the broad impact of Morrison v. National Australia Bank in the U.S. federal courts, and the limited prospects for state law workarounds for world-spanning securities claims. Where else in the world might global securities class actions be filed? And could an international treaty someday govern them?

District Judge Lewis A. Kaplan U.S. DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Appearances: Attorneys for Plaintiffs: Jay W. Eisenhofer, Esq., Geoffrey C. Jarvi

Admit it: We're all amused, in a schadenfreude sort of way, at watching Cravath struggle to downplay the sophistication of its nine years of work for its former client Airgas. But GCs and outside counsel can learn from Cravath's decision to represent Air Products in its hostile bid for Airgas. Business isn't like dating. There's no reason not to put your relationship in writing.