FTX founder Sam Bankman-Fried built the cryptocurrency exchange into a “pyramid of deceit” and stole billions of dollars from thousands of its customers, a prosecutor told jurors during closing arguments on Wednesday, after 15 days of testimony in Bankman-Fried’s fraud trial. Jurors are not expected to get the case before Thursday to begin deliberations. Keep up with the trial here.
Maryland, Missouri and Oregon said they will start administering the Next Gen bar exam in July 2026, according to the National Conference of Bar Examiners. Wyoming and Connecticut said they are committed to making the switch in the future.
Meanwhile, Florida and Pennsylvania have said they will not give the exam when it debuts in 2026, and the State Bar of California is contemplating a new admissions pathway that would allow law graduates to become licensed without taking the bar exam. The NCBE said it willcontinue to offer the existing Uniform Bar Exam through February 2028.
Stroock will dissolve after 147 years, following a series of staff departures, including a partner exodus to Hogan Lovells, and a failure to secure a merger with a larger firm … Data shows that Jackson Walker did not follow standard disclosure practices that might have revealed its former partner was secretly in a romantic relationship with U.S. Bankruptcy Judge David Jones … Winston & Strawn became the latest law firm to be sued by anti-affirmative action activist Edward Blum’s group over its diversity program … Amid criticism of SCOTUS’s lack of an ethics code, new findings show that Justice Clarence Thomasfailed to repay at least a “significant portion” of a $267,230 loan he received from a longtime friend … The Association of Corporate Counsel saidthe FTC’s lawsuit against Amazon endangers attorney-client privilege… Denied due to his race 166 years ago, Edward GarrisonDraper was posthumously admitted to the Maryland state bar by the Maryland Supreme Court … Foley Hoagsued Jeffrey Liddle, a New York lawyer, claiming he has not paid attorney fees of more than $871,000 … And columnist Jenna Greene writes that in Britney Spears’ new memoir,there is an unlikely hero – her lawyer.
In Washington, D.C. … Cozen O’ConnoraddedKetan Bhirud, a former chief litigation counsel at the Nevada attorney general’s office, to its state attorneys general practice. Bhirud joins from Troutman & Pepper … McGuireWoods partner George Terwilliger will be leaving the firm at the end of the year.
In New York … Orion MountainspringrejoinedOrrick as a partner in the firm’s structured finance group from Chapman and Cutler … Proskauer brought on first chair trial lawyer Joe Drayton from Cooley as a partner in its IP group.
In Chicago …
Bankruptcy and restructuring partner Stephanie Hor-Chenjoined Blank Rome from Katten Muchin.
In Los Angeles … Rebekah Prince joinedDuane Morris as a partner in the firm’s corporate practice group from Blank Rome.
In San Francisco …
Debevoise picked up a dealmaker from Goodwin who specializes in transactions involving technology and venture-backed companies.
In Atlanta … Polsinelliadded a counsel to its healthcare department from the Centers for Medicare and Medicaid Services.
InDallas … Cole Schotzhired IP attorney Brian Carpenter from Carstens & Cahoon.
In Philadelphia … Blank Romeadded Ashton Batchelor as chief innovation and value officer from Robins Kaplan.
In Pittsburgh … Epstein Becker Green expanded its employee benefits practice with the addition of five lawyers from Eckert Seamans, and appointed new office leadership.
In Minneapolis … Barnes & Thornburghired Jason Zucchi as a partner in its IP practice from Fish & Richardson.
In London … Mayer Brownhired cross-border disputes lawyer Sarah Garvey from Allen & Overy.
In Tokyo … Freshfieldspicked upNoah Carr and Gordon Palmquist as partners from Latham & Watkins and Mayer Brown respectively. The duo will work with the firm’s M&A, antitrust and disputes teams.
In Singapore … Clyde & Cohired partner Terence Liew for its APAC aviation practice from HFW.
In Riyadh … Kirkland & Ellislauncheda new office in the city, with the addition of two partners from Latham & Watkins and White & Case.
Last week, billionaire Dan Och and his allies announced that they’re now backing a sweetened offer by real estate investment firm Rithm Capital for the hedge fund Sculptor. As part of their deal with Rithm, the Ochs group agreed to dismiss a lawsuit to block the Sculptor acquisition. Ochs and his lawyers said other shareholders should be grateful that they pushed Rithm to boost its offer by nearly $44 million. The plaintiffs firm Labaton, which had been working alongside the Ochs group to block the Rithm deal, thinks otherwise. Alison Frankel has the story.