Wake Up Call: Private Equity Lawyers Get Creative

• Private equity lawyers are getting creative, writing extremely favorable legal terms in the debt issued by private equity backed companies that govern how borrowers must manage their finances. (Financial Times)

• A report released Monday by the American Bar Association intends to promote changes to address addiction and depression in the legal profession. (Am Law Daily)

• Managing Director at Burford Capital, Travis Lenkner, discusses a less public side of litigation, the business of investing in a law firm’s cases. (Bloomberg Radio’s Bloomberg Law)

•U.S. President Donald Trump asked his top trade official to consider investigating China over how it handles intellectual property, adding to the list of trade irritants between the world’s two biggest economies as they work to contain North Korea. (Bloomberg News via BLB)

• Private lawyers seeking to represent Joaquin “El Chapo” Guzman in his U.S. drug-trafficking case failed to get assurances Monday that they’ll get paid, leaving the Mexican drug lord’s defense in limbo. During a hearing in federal court in Brooklyn, U.S. District Judge Brian Cogan told the lawyers that if they took the case, there was no guarantee prosecutors wouldn’t later seize their fees if they could show the money came from his estimated $14 billion in drug profits. (AP)

• John Freeman, a veteran of the energy logistics industry, has been appointed general counsel, senior vice president and corporate secretary of the engineering company McDermott International, Inc. Freeman is making the jump to McDermott from TechnipFMC, another fossil fuels and energy extraction engineering company. He will replace Liane Hinrichs, who announced she is retiring from the company at the end of 2017. (BLB)

• DirecTV LLC should pay $3.95 billion for misleading consumers about the costs of their subscriptions, the Federal Trade Commission told a California federal judge during opening arguments of a bench trial on Monday. (Law 360)

• Munger, Tolles & Olson has been hired to represent Hollywood studios and film companies — including Walt Disney Co. and Paramount Pictures — in copyright infringement lawsuits brought over their use of special effects. (The Recorder)

• Lawyers for Martin Shkreli wrote to a federal judge in New York, saying it would be unfair to release the identities of jurors who sat on the pharmaceutical executives’s trial. “To provide their names to the press so that the press can contact them to ask them about the jury deliberation process or other things that occurred in the sanctity of the jury room is unfair to jurors, and not required by the First Amendment,” wrote Shkreli’s lawyer Ben Brafman. (New York Post)

Compiled by Casey Sullivan and edited by Gabe Friedman.

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