Law And More

Divorce Lawyers & Stock Prices

Are divorce lawyers licking their chops as they observe the stock price of Facebook not doing so hot for two days?  Could new bride Priscilla Chan be wondering if the groom Mark Zuckerberg isn't quite the wunkerkind she had assumed he was?

" ... threw away his duties, threw away his responsibilities ..." - Boy scout opening arguments in "U.S. v Gupta"

Will Boy Scout type values resonate with a New York jury?  Time will tell.  Assistant District Attorney Reed Brodsky delivered his opening argument today in "U.S. v Gupta."  The line that's being quoted in the media, including Bloomberg, is the defendant Rajat Gupta, who had been a board member of Goldman Sachs, " ... threw away his duties, threw away his responsibilities ..." 

At the end of the sentence, Brodsky added the point which would concern me if I were on the jury.  And that was " ... and he broke the law ..." There are plenty of people loose in society who threw away their duties and responsibilities.  But they do that in a way that doesn't break the law.  So, they don't wind up on trial.

This trial, just like the trial of John Edwards, is not about character.  It's about if the law was broken.  Should the boy scout rhetoric continue throughout the trial, the jury could push back and acquit. 

"U.S. v Gupta" Opening Arguments: Leaks on trial

Opening arguments in "U.S. v Gupta" were all about leaks, reports Bloomberg.  The issue, of course, is if the jury believes that the defendant Rajat Gupta leaked material information to former hedge fund Galleon and if gains resulted from them.

But the rest of us who aren't on the jury probably are reflecting more on leaks in general.  Goldman Sachs has egg on its face because it has been alleged that there had been multiple sources of leaks.  What's wrong with an organization which can't keep its troops loyal and in line?

We in communications know that leaks are a red flag for a dysfunctional organizational culture.  Media such as Abovethelaw.com benefit greatly from such misery.  Managing partners in law firms should be terrified of putting anything in writing and distributing it around the firm.  The odds are high it will wind up at ATL.

Organizations which don't have leaks are exactly the places we want to do assignments for or, if we are indeed fortunate, work full time with those old-fashioned benefits.

Enron's on Everyone's Mind: Jeff Skilling wants new trial

Life is funny.  With the smartest kids in the class again making a mess of things (Gang at JPMorgan Chase), Enron's on everyone's mind again.  Here I deconstruct the parallels for the financial information company Motley Fool.

Well, one of the original smartest kids in the class, former head of Enron Jeff Skilling is again going after a new trial.  Bloomberg  reports that his lead attorney Dan Petrocelli has filed a motion making the request, based on new evidence.  In the motion the specifics weren't given.

As many of us recall, Skilling had asked the U.S. Supreme Court for a review of his sentence.  It agreed. However, the appeals court did not overturn the original sentence. 

Life has not been easy for Skilling since the heady days at Enron ended.  Not only is he an inmate in prison.  His son committed suicide. 

 

Dominique Strauss-Kahn: Human rights issue

"Leaving Las Vegas" was such a provocative film because a main character was a highly intelligent prostitute who sought help through therapy.  Society, including her landlady, treated her poorly.  At one time, the law would have too.  Marginal people had no credibility in the legal system.

That has changed.  The allegations of French prostitutes about the behavior of Dominique Strauss-Kahn are being investigated.  The latest, reports Bloomberg, is that he and another man "gang raped" a French prostitute sent to Washington D.C. in December 2010. 

Human rights have come a long way. 

Solo Practices: Your competition is DIY, e.g. LegalZoom, not other law firms

Opening a solo practice involves learning two things.

One is what a real lawyer has to do and most of that isn't touched on in law school. And the second is the business of operating a law firm.  For example, solos are learning that their competition isn't other lawyers, reports Karen Sloan in the NATIONAL LAW JOURNAL, but Do-It-Yourself web services like LegalZoom.  Recently, LegalZoom filed for an IPO.

Some schools of law have been helping JDs get started on the learning curve.  That dates back to 2007 when the City University of New York Law School set up what's called a "solo incubator."  Now the Thomas Jefferson School of Law has just launched such a program.  Solos will have office space and mentoring by both businesspeople and lawyers. 

The New York City Bar has also been pitching in and helping solos.  Here is a 53-page white paper it prepared on best practices for solos and small firms.  It includes a discussion on the growing demand for "unbundled services."  This blog thanks Divorce and family lawyer Alla Roytberg for bringing this paper to our attention.  At her firm Good Law, Roytberg also practices mediation.

 

Dewey & LeBoeuf: Looks like zone of insolvency & that means work for other firms

When a business is heading toward or is in the zone of insolvency, that means work for professional services firms.  THE WALL STREET JOURNAL reports that distressed law firm Dewey & LeBoeuf could be heading all the way to bankruptcy.  That happens when enterprises in the zone can't shore themselves up.

According to WSJ, Dewey & LeBoeuf has retained Zolfo Cooper for restructuring and Togut, Segal & Segal for bankruptcy.   During 2011, most of my communications assignments had to deal with insolvency issues and the options to bankruptcy.  Lawyers and financial services experts were publishing plenty of articles in trade magazines on those topics, especially related to real estate, commercial and residential.

 

Maryland: Citizen wants lawyer for medical malpractice action

There's an opportunity for a lawyer or even a paralegal to parachute in to assist a private citizen with a medical malpractice action.  Here are details and how to apply.

Monday: Big day in courts, big day for media, less heat on Jamie Dimon

On Monday, "U.S. v Gupta" opens.  And, the jury could reach a verdict in the trial of John Edwards for alleged playing funny with campaign contributions.   One or both of them could distract the media from JPMorgan Chase.  Jamie Dimon will have the heat off him for a while.

Linda McMahon: Wins CT GOP nod for U.S. Senate by emphasizing she's a businesswoman, not a lawyer

Given hard times in Connecticut, Linda McMahon is playing the businesswoman's card.  As POLITICO reports, she's positioning herself as that versus being just another lawyer.   So far, so good.  The state GOP gave her the nod.  She had been the founder of the World Wrestling Entertainment business. 

This is her second run for the U.S. Senate.  A newcomer to politics she learned fast in going up against Democrat state attorney general Blumenthal.  From the get-go, she kept modifying the tone and message of her many television commercials.  She could afford that as a primary communications vehicle. In her concession speech, she let it be known that she would be back.

In the August primary she will have to defeat GOP former Congressman Chris Shays.  He had been defeated in the push-back against Republicans and returned for this campaign since the incumbent Lieberman isn't running again.  McMahon can outspend Shays.  If she wins, then she will have to beat the Democrat.