Clement Resigns as Solicitor General
Legal Times
Solicitor General Paul Clement, who led the courtroom defense of the Bush administration's anti-terror legal policies, announced Wednesday he is leaving his job on 2 June. Clement argued 49 cases before the Supreme Court in the last seven years and was viewed as probably the most valued "catch" from the Bush Justice Department, with law firm managing partners guessing he could attract a $2m or $3m package. Details about his next step were not immediately forthcoming from Clement.
SEC Charges Broadcom GC, Other Executives
The Recorder
An internal investigation into stock-option backdating at Broadcom held three executives responsible and gave a pass to general counsel David Dull and co-founder Henry Samueli. But the Securities & Exchange Commission (SEC) didn't see it that way. On Wednesday, the SEC charged Dull and Samueli, along with former chief executive Henry Nicholas and former chief financial officer William Ruehle, for an alleged scheme that led to a $2.2bn restatement last year. The clash between the investigations stands out in the crowd of backdating cases where the two normally match.
Sources: Akerman Senterfitt nears merger deal with Wolf Block
Daily Business Review
Akerman Senterfitt is close to consummating a merger with a 300-lawyer Philadelphia-based firm that would broaden its national platform, according to sources familiar with the talks. Akerman's executive committee could soon vote on the deal to combine Akerman with Wolf Block, said sources who asked not to be named. One roadblock in the discussions is Wolf Block's unfunded pension plan. Wolf Block wants Akerman to take over that financial liability, the sources said.
Kilpatrick Stockton acquires Muldoon Murphy
Legal Times
Atlanta-based Kilpatrick Stockton hopes to rejuvenate its small Washington DC office by acquiring local corporate and financial transactions boutique Muldoon Murphy & Aguggia. Adding the smaller firm "gives us instant credibility" when it comes to bidding for corporate work, says Stephen Baskin, Kilpatrick's Washington managing partner. Legal consultant Bradford Hildebrandt says that he expects merger activity to be up as firms figure out how to cope with a tough market.
Heller loses another Brobeck vet
The Recorder
Heller Ehrman has lost its San Diego office managing partner, the latest former Brobeck Phleger & Harrison attorney to leave the troubled office. Craig Andrews, a former firmwide co-chairman of Heller's Venture Law Group unit, will join DLA Piper's corporate and finance practice as a partner. Andrews' departure follows the loss of four partners from San Diego in mid-April. All five are former Brobeck lawyers who joined Heller in 2003 after Brobeck's collapse.
7th Circuit Affirms Sanctions Against Jones Day
The National Law Journal
The 7th Circuit US Court of Appeals has affirmed sanctions against Jones Day for bringing a baseless counterclaim in a contract dispute in Wisconsin. The three judge panel on May 13 affirmed $30,000 in sanctions against the law firm for violating Rule 11, the federal rule of civil procedure that prohibits parties from bringing frivolous claims. The sanctions stem from a contract disputed between United Stars Industries and Plastech Engineered Products, the Jones Day client.
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