Law Firm Asks 2nd Circ. To Weigh In On Nonlawyer Investment

Law360, New York (April 5, 2012, 6:09 PM EDT) -- Law firm Jacoby & Meyers LLP on Thursday appealed a New York federal court's ruling that it cannot take investments from nonlawyers, opening the door for the Second Circuit to weigh in on the controversial issue.

By filing a notice of appeal, the firm took only the first step toward overturning its loss in a suit arguing New York's law firms should be able to tap new sources of capital. U.S. District Judge Lewis A. Kaplan threw out Jacoby & Meyers case March 8, ruling several...
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