Simpson Thacher Faces Reputational Risk After Clerk's Arrest

Law360, New York (March 19, 2014, 6:43 PM EDT) -- Simpson Thacher & Bartlett LLP won't likely be saddled with criminal or civil liability after a clerk was charged with insider trading Wednesday, but experts say that will be cold comfort amid a public relations nightmare that will see the international legal giant scrambling to bolster internal controls and reassure clients.

The 850-lawyer firm, with offices in Asian, European and U.S. financial capitals, is perhaps best known for handling private equity and corporate merger transactions — work that depends entirely upon secrecy. It said it had...
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