After years of diversity initiatives, the legal industry is still coming up short, but some law firms have made notable progress. Here, Law360 ranks the U.S. firms that are leaders in turning diversity goals into workforce realities.
The racial makeup of BigLaw’s equity partnership has barely budged in recent years, but some law firms are making notable strides on diversity at the top. Here are the firms with the most racially diverse equity tiers, according to Law360’s Diversity Snapshot.
Many are investing in recruitment and retention initiatives aimed at minorities, while at least one is finding that its hiring efforts naturally bring in diverse attorneys. Here’s a look inside a few of the firms that added 20 or more minority attorneys in 2016.
The legal industry has again failed to make substantial progress on hiring and promoting minority attorneys, according to Law360’s annual headcount survey, despite more minorities graduating from law school than ever before.
A New York federal judge on Friday signed off on $44.6 million in fees for attorneys who secured a $210 million settlement to end a proposed class action by Salix Pharmaceuticals Ltd. shareholders claiming the company misrepresented inventory levels to falsely inflate its stock price.
An attorney convicted of fraudulently inflating a medical device company’s stock has petitioned the U.S. Supreme Court to take up his case, saying the Eleventh Circuit was wrong to sign off on prosecutors’ decision to knowingly use false testimony in his trial by reasoning that the government didn’t suppress evidence that the witnesses lied.
Activist investor and CVR Energy chair Carl Icahn resigned Friday as President Donald Trump’s special regulatory adviser in the wake of conflict of interest questions related to his renewable-fuel market activities and ownership in insurance giant American International Group.
A New York federal judge on Friday partially dismissed a suit alleging more than 20 major worldwide banking institutions rigged Singapore’s benchmark interest rates, saying the investors who brought the case didn’t specifically link all defendants to the alleged conspiracy while giving them time to file a new complaint.
While President Donald Trump's protectionism have led to speculation that the U.S. will use Foreign Corrupt Practices Act enforcement to explicitly target foreign companies, experts say there are some barriers to enforcing the FCPA against companies in China, a focus of the administration's trade policy.
A Texas federal jury Friday found the former CEO of ArthroCare Corp. guilty of wire fraud and securities fraud for his role in a scheme to inflate the medical device company’s sales and revenue numbers, which cost investors $750 million, after his first conviction was vacated and gave way to a retrial.
A former Level Global manager on Wednesday pressed a Georgia federal judge to vacate his conviction for trading on inside information from an executive of children’s clothing firm Carter’s Inc., saying the U.S. Supreme Court’s Salman ruling reinforces his position.
A Ninth Circuit panel on Friday revived some of the claims in a securities fraud class action against Atossa Genetics Inc. after finding that the investors behind the suit had properly alleged some public statements by the breast health device maker and its CEO were materially false or misleading.
Domestic diva Martha Stewart followed “with precision” measures to protect minority stockholders during the $353 million sale of her company to Sequential Brands Group, Inc. in late 2015, a Delaware vice chancellor said Friday in a ruling that dismissed shareholder challenges to the deal.
An investment guru who copped to fleecing investors out of more than $3.6 million in a nine-year Ponzi scheme was sentenced in Washington federal court on Thursday to serve nine years in prison and pay his victims more than $3.6 million in restitution.
An Indiana federal judge on Friday partly granted the U.S. Securities and Exchange Commission’s motion for judgment on claims the jailed former CEO of National Lampoon Inc. ran a Ponzi scheme, ordering him to pay a $1.3 million penalty, but denied the agency’s bid for $230 million in disgorgement.
The U.S. trustee’s office told a New York bankruptcy court Thursday that counsel for Ybrant Digital, which filed for Chapter 11 after getting hit with a $37 million arbitration award in a dispute with a South Korean technology company, should return fees that were purportedly received from unauthorized Ybrant subsidiaries.
A pair of LendingClub Corp. shareholders filed a derivative suit Friday in Delaware Chancery Court, alleging the company’s board breached its fiduciary duties by not ensuring LendingClub had sufficient internal financial controls and lied about them in regulatory filings.
Three Florida men and their three former companies have agreed to pay nearly $5.5 million to settle a U.S. Commodity Futures Trading Commission suit alleging that they tricked people into investing in precious metals and then pressured them to exchange those investments for fraudulently appraised colored diamonds, the agency said Thursday.
The New York federal judge overseeing the criminal case against former Platinum Partners executives threatened to throw the book at one of the defendants' Quinn Emanuel Urquhart & Sullivan LLP attorneys on Friday if she hears more of what she deemed “reprehensible” and potentially intimidating contact with could-be witnesses.
A New York federal judge has upheld a bankruptcy court’s $500,000 sanction against a former top Wall Street trader, saying the court correctly found he had concealed more than $3 million in assets during his Chapter 7 proceedings.
A proposed guidance addressing supervisory expectations for boards of directors at banks and holding companies, published by the Federal Reserve Board this week, suggests that expectations for boards and senior management have become increasingly difficult to distinguish, say attorneys with Arnold & Porter Kaye Scholer LLP.
The U.S. Securities and Exchange Commission this week released a risk alert highlighting the results of its Cybersecurity 2 Initiative, which reveals a critical cybersecurity truth — that it is not enough just to set up a program and plug existing leaks, say Michael Bahar and Brian Rubin of Eversheds Sutherland.
As the role of law firm chief privacy officer becomes more prevalent and expansive, many CPOs are finding themselves in the midst of a delicate balancing act — weighing compliance with government regulations and client requirements on one side with the needs of firm business on the other, says Kristin Jones, chief privacy officer for Stradley Ronon Stevens & Young LLP.
A brief remark from Commissioner Michael Piwowar has caused great concern among investors that the U.S. Securities and Exchange Commission might soon allow companies to introduce mandatory arbitration clauses into their corporate charters. Forcing investors to pursue binding arbitration ignores Congress’ intent in enacting the Private Securities Litigation Reform Act, say Samuel Ward and Michael Toomey of Barrack Rodos & Bacine.
New mobile computing tools — both hardware and applications — are changing the technology paradigm for legal practitioners. In particular, the combination of the 12.9-inch iPad Pro, the Apple Pencil and the LiquidText annotation app can revolutionize both trial preparation and courtroom litigating, says attorney Paul Kiesel, in his latest review of tech trends.
To understand the role of the law firm chief privacy officer — and why that person ought to be a lawyer — it’s important to distinguish the role they fill from that of the chief information security officer, says Mark McCreary, chief privacy officer for Fox Rothschild LLP.
The U.S. Securities and Exchange Commission’s recent report on blockchain tokens serves notice to initial coin offering platforms that if the tokens listed are deemed to be securities and the issuing company has not complied with the securities laws, then the exchange may have its own legal exposure, say Jorge Pesok of Morvillo LLP and Samuel Brylski of Brylski Law PLLC.
Stock transfer restrictions serve an important role for privately held corporations, but can also have negative implications for investors and individual stockholders. The Delaware Chancery Court's recent decision in Henry v. Phixios Holdings stands as a reminder that care must be taken to properly effectuate such restrictions, say attorneys with White and Williams LLP.
A decade and a half after the Sarbanes-Oxley Act was enacted in response to accounting scandals at Enron, WorldCom and elsewhere, attorneys, accountants and compliance experts measure the law's impact in this special series.
One growing trend is for clients to enter into alternative fee arrangements in which one law firm represents multiple parties who “share” fees and costs in a related matter. This way parties can more efficiently manage a matter and reduce their individual legal fees. But joint representation is not without its own risks and challenges, say attorneys with WilmerHale.