Skadden Partner Retires Amid Questions about Conflicts

In late May, Eric Waxman retired as a partner with Skadden, Arps, Slate, Meagher & Flom in Los Angeles — shortly after making what he described as “deeply” regrettable corrections to earlier statements he had made in an insider trading case.

In the case, Skadden was the transactional counsel to Advanced Medical Optics in its $1.36 billion acquisition by Abbott Laboratories in 2009, and later started representing its then-CEO James V. Mazzo who faces criminal charges of leaking information about the merger.

Now, prosecutors are alleging Waxman made “serial” misstatements in order to collect millions of dollars in legal fees and conceal evidence: For years, Waxman refused to give ...