As IPO looms, Visa's outside counsel see litigation bonanza
Legal Times
Visa has two big challenges ahead. The first has been all over the news: the company is launching the biggest initial public offering (IPO) in US history, with $18bn in the works. The other is clear in SEC documents the financial giant filed in preparing for its IPO: Visa is awash in high-stakes litigation - more than 70 cases, ranging from merchant class actions to fights with competitors.
That's not great news for the company, of course. But it's been a boon for outside counsel like Arnold & Porter.
Qualcomm team can defend selves despite attorney-client privilege
The Recorder
Lawyers sanctioned for their roles in the Qualcomm discovery debacle have maintained that they would be exonerated if allowed to break attorney-client privilege and tell their side of the story. Now they'll get their chance. In a Wednesday order lifting the sanctions, a federal judge wrote that six lawyers from Day Casebeer Madrid & Batchelder and Heller Ehrman should be allowed to defend their conduct in the failure to turn over key e-mails in a patent fight between Qualcomm and Broadcom.
Chadbourne to open first Latin American office
The National Law Journal
New York's Chadbourne & Parke has announced it plans to open its first Latin American office in Mexico City and has hired five attorneys with experience across Latin America.
"The addition of these new partners to our Latin America practice and the opening of a Chadbourne office in Mexico provide on the ground presence to enhance our services to the firm's extensive client base throughout Latin America," Chadbourne managing partner Charles O'Neill said in a statement.
The Mexico City office is expected to open with about 20 attorneys.
Reed Smith's LA hiring spree raises profits
The Recorder
A number of attorneys lately have been attracted to Reed Smith's aggressive strides in profitability and global geography. The firm's profits per partner have surpassed $1m since 2006 and its latest revenue per lawyer was $690,000. "Now, compared to five years ago, we're in a position to compete," says LA managing partner Peter Kennedy.
And competing they are. In the past year, the 1,600-lawyer firm has gone on a hiring spree, adding 11 lateral partners in Los Angeles and 18 overall in California.
McGuireWoods and Helms Mullis to merge, creating 900-lawyer firm
Legal Times
Virginia-based, 750-lawyer McGuireWoods has joined forces with North Carolina's Helms Mullis Wicker to form a 900-lawyer, 17-city firm. According to a press release from both firms, the merger will take effect on 31 March. McGuireWoods' Charlotte office is currently its only presence in North Carolina. After combining with Helms Mullis, the firm will add offices in Raleigh and Wilmington.
Hollinger trial shows even 'least culpable' GC at risk
Fulton County Daily Report
The jury called him "St. Mark." His attorney called him "a modern-day George Bailey." The judge called him "clearly the least culpable" of the defendants in the fraud trial of Conrad Black and other former executives from Hollinger International. But that expressed sympathy didn't stop the former Sun-Times GC, Mark Kipnis, from being convicted of fraud along with Black and other co-defendants accused of swindling $6m from the company. Kipnis' story is a cautionary tale for in-house lawyers.
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