Hynes - a former name partner at Milberg Weiss Bershad Hynes & Lerach and a onetime assistant US attorney in New York's Southern District - led several major cases against brokerages and investment houses such as Drexel Burnham Lambert and Paine Webber through the 1980s and 1990s.
She left Milberg in 2006, the highest-profile partner to defect after the firm was indicted in May of that year.
In May of 2008, the seasoned litigator was named president of the Association of the Bar of the City of New York.
Lehman is being represented by longstanding adviser Simpson Thacher & Bartlett.
Morvillo Abramowitz Grand Iason Anello & Bohrer name partner Robert Morvillo, a dean of the white-collar crime Bar whose clients have included high-profile US entrepreneur Martha Stewart and former AIG CEO Maurice Greenberg, told The Am Law Daily: "Various enforcement agencies are likely to scrutinise Fuld for the next two years - the SEC, FBI, US attorney's offices in the Southern and Eastern districts, and he could also face civil charges.
"Guys with that kind of wealth will have more than one lawyer. A lot will happen in the next six to 18 months. Lawyers of my ilk will be making a good livelihood."
The Am Law Daily is the website of The American Lawyer, Legal Week's US sister title.
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