Wake Up Call: Appeals Court Finds Law Firms Protected From Liability in Stanford Fraud Scheme

• Reversing a lower court, a federal appeals court ruled Thursday that Proskauer Rose and Chadbourne & Parke are protected from liability for the actions of a former partner who investors allege helped R. Allen Stanford hide his $7 billion fraud scheme. (National Law Journal)

• With a record $504 million in gross revenues, Fried, Frank, Harris, Shriver & Jacobson had an excellent 2015 , thanks in part to key changes made by its chairman, David Greenwald. (American Lawyer)

• The legal profession gets a lot of knocks these days, for such things as the high cost of law school, long working hours, and a ...