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Associates and counsel at Milbank are getting summer bonuses, in a move that could drive law firm competitors to do the same, our colleague Sara Merken reports.
The seniority-based bonuses at Milbank range from $6,000 to $25,000, and will be paid by Sept. 30, according to an internal memo viewed by Reuters. Milbank chairman Scott Edelman said in the memo that the year so far has been “extremely busy” for the firm and he expects the pace to continue.
U.S. law firms have traditionally dispensed only year-end bonuses, but rewards offered by one major firm often spur others to match. Many firms gave out mid-year or other “special” discretionary bonus payouts in 2021, amid a mergers and acquisitions boom and intense competition for associate talent. While the M&A market has cooled in recent years, there are signs of growing demand for legal work on corporate transactions and continued demand in counter-cyclical practices like litigation and bankruptcy.
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- U.S. District Judge Yvonne Gonzalez Rogers seemed inclined not to award the full $217 million in legal fees requested by lawyers at Boies Schiller and other firms for a consumer lawsuit in Oakland, California, that once sought billions of dollars from Google but later settled without the tech giant paying any money. Rogers grilled litigator David Boies, representing the consumers, and attorneys for Google at Quinn Emanuel who opposed the requested amount.
- Polsinelli said it has hired 47 lawyers from Holland & Knight, with most of them working in Philadelphia. Other new hires will join Polsinelli’s offices in cities including Chicago, Los Angeles and New York.
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That’s how much plaintiffs’ lawyers should get in fees for their lawsuit seeking to block JetBlue’s since-abandoned merger with rival Spirit, the airlines told a federal judge in Boston. Our latest Legal Fee Tracker examines the dustup, as some plaintiffs firms vie for upwards of $34 million for their work on the litigation. JetBlue and Spirit say the lawyers are not entitled to any money, and accused them of piggy-backing off the DOJ’s antitrust lawsuit. The government action went to trial and led to a January ruling that blocked the deal. The airlines said the plaintiffs’ case was dismissed as moot.
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If you believe Shopify and its friend-of-the-court backers from traditional and internet business groups, the entire future of online commerce is at stake in an en banc 9th Circuit appeal over whether the online payment platform must face a consumer privacy class action in California courts. The lead plaintiff, a California man who accuses Shopify of illicitly harvesting his data, including his home address, to create a “consumer profile,” says the company aimed conduct at the state by mining for data from Californians. Shopify and its amici say that theory is wrong – and would upend e-commerce. Alison Frankel has the details on a case that will provide early guideposts in a mostly uncharted area of the law.
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“These disparities are troubling.“
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—2nd Circuit Judge Beth Robinson, writing in a panel decision that said the way the federal trial court in Manhattan identifies prospective jurors was prone to racial disparities but that a defendant had failed to prove it caused the systematic underrepresentation of Black and Hispanic or Latino people as eligible jurors. The defendant’s lawyers had argued their client’s rights under the U.S. Constitution’s Sixth Amendment and the Jury Selection and Service Act of 1968 were violated. The appeals court said the defense lacked sufficient data to back up their claims.
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- Lawyers for Novartis at Hogan Lovells will face off against the DOJ in a bid to block the FDA’s recent approval of a generic version of the pharmaceutical company’s heart failure medication Entresto. Novartis wants U.S. District Judge Dabney Friedrich to stop MSN Laboratories from releasing its generic version of the drug. The DOJ has urged the court not to enjoin the generic. The government said Novartis’ projected $2.2 billion hit “was not the sort of devastating harm that courts in the D.C. Circuit have found to be irreparable.”
- U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, will hold a status conference with the lawyers involved in product liability cases accusing Meta and other social media companies of creating addictive products for young people. Meta and other defendants have denied wrongdoing, and various motions attacking the claims are pending before the court. Plaintiffs firms Lieff Cabraser and Motley Rice are co-lead counsel. Covington represents Meta.
- In Brooklyn, U.S. District Judge Eric Komitee will hold a bail hearing in the federal prosecution of Carlos Watson, founder of Ozy Media. A jury in July found Watson and Ozy guilty in a case accusing them of lying to investors about the now-defunct startup’s finances and sham deals with Google and Oprah Winfrey. Prosecutors will argue Watson should remain detained pending sentencing. The government is challenging a U.S. magistrate’s order permitting Watson’s release. Quinn Emanuel’s William Burck is helping Watson’s defense on the bail dispute. Watson and Ozy have pleaded not guilty.
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Court calendars are subject to last-minute docket changes.
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- A U.S. court ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission said. The repayment order implements a settlement between the CFTC and the bankrupt crypto exchange.
- The U.S. indicted two Iranian citizens and one Pakistani citizen for providing material support to what the DOJ called Iran’s weapons of mass destruction program.
- Britain’s competition watchdog said it started an investigation into whether Amazon’s partnership with AI startup Anthropic raised competition concerns, days after it began a similar probe on Alphabet’s collaboration with the startup.
- Apple’s lawyers at Wilmer Hale asked the Federal Circuit to fast-track oral argument in the company’s challenge to a ban on importing and selling certain iWatches with a blood-oxygen health and wellness feature. The International Trade Commission and Masimo, which alleged the feature infringed its intellectual property, said they will oppose Apple’s request.
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- Paul Weiss hired asset management M&A partners David Hepp and Matthew Collin from Skadden in New York. (Reuters)
- Milbank brought on an alternative investments team from Latham in London, including partner Alex Martin. (Milbank)
- Pierson Ferdinand added cyber litigation partner Adam Chaudry in Columbus, Ohio, from Chaudry Law. (PierFerd)
- King & Spalding hired Andrew Calica as a New York-based partner in the firm’s product liability and mass torts practice group. Calica previously was at Mayer Brown. (King & Spalding)
- Bracewell brought back D.C.-based renewable energy and project development partner Hans Dyke. He most recently was general counsel of Sol Systems. (Bracewell)
- Lowenstein Sandler added John Wayne Horton as an emerging companies and venture capital partner in Silicon Valley from Goodwin. (Lowenstein Sandler)
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