Wake Up Call: NBA Players’ Lawyer Leaves Orrick for Dechert

• Big Law Business interviewed M&A and legal industry icon Marty Lipton about his law firm’s beloved client memos, which reach an enviable distribution list: a who’s who of top Wall Street executives, general counsel, as well as business, finance and legal professionals. “Not one of these memos goes out without his approval,” said Wachtell litigation partner John Savarese. Lipton’s latest focused on a matter that Wachtell isn’t involved in: the latest showdown between billionaire investor Nelson Peltz, and Procter & Gamble, where Peltz is seeking a board seat. (BLB)

• Orrick, Herrington & Sutcliffe’s Christina Guerola Sarchio is Dechert-bound, leaving the firm where she was a board of directors member and chair of the class-action strike team. Headed for Dechert’s Washington, D.C, office as a partner, Sarchio is bringing along key clients including energy giant Exxon Mobil Corp. and the National Basketball Players Association. (Am Law Daily) Orrick said it hired Joi Bourgeois, a lawyer and legal career expert, to fill its new role of global head of diversity and inclusion. (Am Law Daily)

• Movie mogul Harvey Weinstein hired civil rights lawyer Lisa Bloom to help him change his ways amid allegations he sexually harassed women for decades and reports he has reached at least eight settlements with women. (Bloomberg via BLB)

• Aggregate deal value involving U.S. targets fell significantly in the third quarter, depressed by political uncertainty in the nation and elsewhere. (Bloomberg BNB via BLB)

• Attorney General Jeff Sessions said he is reviving a Bush era crime-fighting strategy that emphasizes aggressive prosecution of gun and gang crimes. (Associated Press via Bloomberg) Sessions also ordered the Justice Department to argue in court cases that transgender people are not protected by a civil rights law that bans workplace discrimination based on sex. Civil rights groups attacked the move as a new sign that President Donald Trump is undermining rights of the LGBT community. (Bloomberg) (New York Times) (LGBT Weekly) Former Attorney General Eric Holder called the move “legally wrong and morally shameful.” (Twitter)

• The Labor Department has installed Morgan Lewis attorney Bryan Jarrett as acting administrator of the Wage and Hour Division, according to an email obtained by Bloomberg. The appointment continues a Trump administration pattern of staffing the division with lawyers who have a background representing employers in workplace lawsuits. (Bloomberg BNA, Bloomberg, via BLB)

• San Francisco-based Sedgwick lost its Chicago managing partner, Eric Scheiner, and partners Dick Geddes and Jennifer Quinn Broda, to the Windy City office of U.K. insurance specialist Kennedys. With several senior partners leaving this year, Sedgwick recently closed its offices in Washington, D.C., and Austin, Texas. (Am Law Daily)

• Kansas City-based Lathrop Gage LLP announced yesterday that Nancy Sher Cohen, formerly a partner and co-head of Proskauer Rose’s Insurance Recovery and Counseling Group, will serve as the partner-in-charge of Lathrop’s Los Angeles office. (BLB)

• Hogan Lovells said about 45 U.S. staffers accepted its voluntary retirement package, and it said it changed the way it reports some financial results, as part of a plan to align the firm’s international partnership with its U.S. arm. (Law.com)

 

 

Legal Market

• The Trump administration told the U.S. Supreme Court Thursday it should dismiss its pending case over the president’s travel ban, an action that would let lower courts take the first look at the most recent version. (Bloomberg via BLB) The court declined the latest request by members of Congress to live-stream its oral arguments, saying that could “adversely affect” case outcomes. (Ars Technica)

• Russian hackers stole classified information about National Security Agency cybersecurity programs by exploiting vulnerabilities in Kaspersky Lab Inc. software on a personal computer used by an agency contractor in 2015, according to a person familiar with the matter. (Wall Street Journal)

• The Las Vegas shooter’s girlfriend, Marilou Danley, is represented by Matthew Lombard, a Los Angeles-based criminal defense attorney who worked on the defense for Terry Nichols, an accomplice in the 1994 Oklahoma City bombing. (International Business Times)

• Breaking with tradition, the National Rifle Association said so-called bump-stock devices, which allow semi-automatic weapons to fire as if they were automatic, should be subject to more stringent federal regulation. (Bloomberg)

 

 

Legal Actions

• As Davidson Kempner Capital Management tried to collect $200 million on a New York legal ruling in a dispute with one of India’s wealthiest families it first seized a private jet. Now, the New York hedge fund has set its sights on something else many billionaires can’t live without: a luxury yacht. (Bloomberg)

• Eli Lilly & Co. won a challenge to the validity of a patent that keeps generic versions of its $2 billion lung cancer drug Alimta off the U.S. market until 2022. (Bloomberg via BLB)

 

 

Regulators and Enforcement

• Pennsylvania’s attorney general, Josh Shapiro, filed a lawsuit against Navient, a company that manages about one-quarter of student loan payments in the country. (Bloomberg)

• Regulators in Europe and Asia are investigating London-based Standard Chartered Plc over the role staff may have played in transferring $1.4 billion of private bank client assets from Guernsey to Singapore before new tax transparency rules were introduced. (Bloomberg)

• Botswana’s accounting regulator said it is closely following a lawsuit in which the local unit of Big Four accounting firm KPMG LLP is being sued by the liquidator of a failed bank. (Bloomberg) KPMG’s South Africa unit is facing regulatory, tax and other investigations in that country. (Bloomberg)

 

The Trump Administration

• Will Trump push the Justice Department into Puerto Rico’s debt mess? (Bloomberg)

• Randal Quarles was approved by the U.S. Senate as the Federal Reserve’s first-ever vice chairman for supervision, a post that would give him a pivotal role in Trump’s plan to dial back post-crisis rules. (Bloomberg)

 

Happening in SCOTUS and Other Courts

• The Supreme Court rejected six False Claims Act cases this week, but more petitions are on the way targeting a tool that earned the U.S. government $4.7 billion in settlements and judgments from civil cases in fiscal year 2016. (National Law Journal)

• The California federal judge overseeing multidistrict litigation against Yahoo Inc. over its huge data breach asked the company and plaintiffs to give their views on what impacts Yahoo’s recent disclosure of additional affected customers could have on the case. (Recorder)

• A group of HSBC Holdings Plc currency traders in London and New York feverishly jumped ahead of a $3.5 billion client order after they were tipped off using the code words “my watch is off,” a U.S. prosecutor told a federal judge. (Bloomberg)

• Baker Botts associates have won pro bono asylum cases for a former communications official for an Ivory Coast president, and others. (Bloomberg BNA via BLB)

 

 

 

Laterals, Moves, Law Firm Work

• Detroit-based Honigman Miller Schwartz and Cohn LLP said Christopher Zdarsky has joined as a partner in the firm’s complex commercial litigation practice, based in its Kalamazoo office. Zdarsky comes over from Quarles & Brady LLP in Chicago. (Honigman)

• Delaware-based First Healthcare Compliance said it promoted Sheba Vine to vice president and general counsel. She was previously senior director of regulatory compliance at the company, and has also worked as a private attorney in litigation and employment law at The Vigilante Law Firm in New Jersey. (Corporate Counsel)

 

 

 

Technology

• The NSA has a “rogue contractor” problem. (Wired)

• KPMG and Exiger, which provides solutions for regulatory and financial crime, risk and compliance,  announced a partnership in which KPMG will use an “enhanched” version of Exiger’s artificial intelligence technology for its systems to help financial institutions and corporations with “know-your-customer,” due diligence and reputational risk management processes. (Compliance Week)

Compiled by Rick Mitchell and edited by Casey Sullivan.

Related posts

Top