UPDATED June 16, 2020 | The COVID-19 pandemic has caused widespread economic hardship for businesses of all sizes, with stay-at-home orders just now starting to be lifted after months in effect. Among the bipartisan actions taken by the federal government to support the business community was a concerted effort to provide forgivable loans to small businesses.
An Illinois federal judge has narrowed the government's case against two former Merrill Lynch traders accused of deceptive trading in the precious metals futures market, throwing out the criminal spoofing charge facing one of the traders after ruling it can't be prosecuted as a scheme.
A trust company hasn't lobbed allegations particular enough to advance civil racketeering claims against a businessman who allegedly defrauded it out of $2 million, thousands of dollars of which was earmarked for digital currency trading, an Illinois federal judge said Monday.
To build the ranks of female trial attorneys, law firms must integrate them into every aspect of a case — from witness preparation to courtroom arguments — instead of relegating them to small roles, says Kalpana Srinivasan, co-managing partner at Susman Godfrey.
It falls to senior male attorneys to recognize the crisis female attorneys face as the pandemic amplifies an already unequal system and to offer their knowledge, experience and counsel to build a better future for women in law, says James Meadows at Culhane Meadows.
Even as BigLaw firms are recruiting women into their ranks in larger numbers, their presence in leadership and equity partnerships remains stubbornly low. Here’s a look at why this is happening — and what firms can do.
More female attorneys are landing highly sought-after U.S. Supreme Court clerkships, and the experience can turbocharge their careers.
At most U.S. law firms, equity partnerships are still overwhelmingly male, but women at some firms are starting to shake up that reality and smash the glass ceiling that has prevented them from advancing to the uppermost ranks. Here are this year’s Ceiling Smashers — the firms that are outpacing their peers as the legal industry works toward closing the gender gap in its top ranks.
In this video, four Black women share their thoughts about wearing natural hair as BigLaw attorneys. In order of appearance, the attorneys are: Rukayatu Tijani, founder of Firm for the Culture and a former BigLaw associate; Delilah Clay, legislative & regulatory advisor at Manatt Phelps & Phillips LLP; Rachel Boyce, associate at Cooley LLP; and Crystal Nwaneri, associate at Fenwick & West LLP.
A California federal judge repeatedly warned Apple and Epic Games Inc.'s counsel Monday that she'll sanction attorneys for any "nastiness" as their antitrust fight heads toward a May bench trial, and also aired concerns the public has maxed out the court's Zoom license and posted bootlegged videos of some hearings online.
Federal Reserve Chair Jerome Powell said Monday the central bank is still weighing the pros and cons of issuing a government-backed digital currency, noting he feels it is "more important for the United States to get it right than to be first."
A New York federal judge has granted a final judgment against a Pennsylvania-based day trader who the U.S. Securities and Exchange Commission claimed was involved in a $2 million coordinated trading scheme that hacked 50 brokerage accounts to manipulate stock prices, the SEC announced Monday.
The Financial Crimes Enforcement Network on Monday levied a $60 million civil money penalty against the head of two bitcoin businesses for violations of Bank Secrecy Act regulations, stating that he facilitated illicit activity including drug transactions and child pornography by operating in the "darkest spaces of the internet."
Marcus Pleyer, the new president of the Financial Action Task Force, talks to Law360 about his priorities, including the risks posed by crypto-assets and the role of artificial intelligence in enforcement.
Firms are recruiting more women than previously to their ranks, but still have trouble retaining them at the same rate as men. Law360 asked three female attorneys who left BigLaw about how firms could better serve the women who work there. Here's what they have to say.
While law firms continue to tout efforts to close the gender gap in their ranks, parity is still a distant goal, our annual survey shows.
Law firms have long struggled to clear the barriers women face in the legal industry, particularly when it comes to accessing the top ranks. Law360's 2020 Glass Ceiling Report looks to shed light on the progress firms have made and where they aim to be.
A California federal judge has trimmed a breach of contract suit against consumer credit reporting company Experian Americas, finding that Experian must continue to face some claims that it improperly used a former business partner's data.
Delaware's chancellor pressed attorneys for WeWork's parent company Friday to explain an abrupt reversal earlier this year of its support for suing Softbank Group over its walk-away from a $3 billion tender offer, setting up a duel over conflicting reports from independent WeWork directors.
New York's financial services regulator wants to speed up the data collection needed for monitoring the condition of financial firms it oversees and is laying plans for its first-ever "tech sprint" toward that goal, adopting a strategy increasingly favored by agencies for experimenting with technology-led regulatory innovation.
A Minnesota federal judge sentenced an Iranian executive to almost two years in prison for his role at a financial services company designed to help Iranian citizens circumvent U.S. sanctions.
On Friday, the company that operates the Chicago Board Options Exchange announced its long-anticipated purchase of one of the largest alternative block-trading trading systems in the U.S., in a deal steered by Davis Polk, WilmerHale and Morgan Lewis.
A company co-created by PayPal founder Peter Thiel's investment firm led a pair of blank-check companies that debuted on the stock market Friday, raising $635 million through initial public offerings that they intend to use to target potential acquisitions in industries including technology and biotech.
Joel Telpner of Sullivan & Worcester LLP's fintech practice is steering the development of the world's first sovereign digital currency and advising a novel blockchain platform that allows users to monetize, borrow and lend cryptocurrency assets, earning him a spot as one of Law360's 2020 Fintech MVPs.
A divided U.S. Securities and Exchange Commission on Friday agreed to ease auditor independence rules by granting auditors more leeway to assess conflicts-of-interest violations involving the companies they oversee, drawing dissent from opponents who worry the changes go too far.
The Ninth Circuit on Thursday revived a trade secrets dispute between software maker InteliClear LLC and ETC Global Holdings Inc., finding that a California court had erred in ruling that InteliClear had not adequately alleged which trade secrets ETC purportedly pilfered from its securities trading tracking program.
The pandemic's disproportionate impact on women presents law firms with a unique opportunity to devise innovative policies that will address the increasing home life demands female lawyers face and help retain them long after COVID-19 is over, say Roberta Liebenberg at Fine Kaplan and Stephanie Scharf at Scharf Banks.
Read together, the U.S. Department of Justice's recently released cryptocurrency guidance and unsealed BitMEX indictment send a strong message that the government is expanding efforts to combat use of digital assets and blockchain technology for criminal purposes, say Benjamin Klein and Deborah Meshulam at DLA Piper.
Lawyers should use their unique skill sets, knowledge and spheres of influence to fight burdensome ID requirements and other voter suppression tactics that may influence the 2020 elections, and to participate in potential post-election litigation, say CK Hoffler and Allyce Bailey at the National Bar Association.
Videoconferenced mediation offers several advantages and helps cases settle faster and more cordially, making it hard to imagine going back to logistically difficult in-person dispute resolution after COVID-19 restrictions are gone, says Sidney Kanazawa at ARC.
Law firm clients can play a role in lowering mental distress in the legal profession by seeking lawyer wellness data from firms and factoring those responses into outside counsel hiring decisions, says Jonathan Prokup at Cigna.
A Seventh Circuit judge's recent order granting leave for three organizations to file amicus curiae briefs in Prairie Rivers Network v. Dynegy Midwest Generation is a reminder that relevant, nonduplicative amicus briefs can provide courts with helpful perspective, important facts and legal arguments, says Lawrence Ebner at Capital Appellate Advocacy.
In light of two new U.S. Treasury Department advisories signaling increased oversight of ransomware payments, victim companies and their third-party response teams considering making payments should follow certain due diligence and compliance best practices, say attorneys at Squire Patton.
The U.S. Securities and Exchange Commission’s newly finalized rule amending the "accredited investor" definition should lay to rest sovereign wealth funds’ ongoing headache of determining whether they qualify to participate in certain investment activities on a case-by-case basis, say attorneys at Baker McKenzie.
With law schools forgoing traditional grading due to the pandemic, hiring firms that have heavily weighted first-year grades during the on-campus interview process should turn to metrics that allow a more holistic view of a candidate, says Kate Reder Sheikh at Major Lindsey.
Mark Barringer's new book, "Collegiality and the Constitution," is an engaging, vibrant work of judicial history in Texas' Eastern District, and reveals an atmosphere of civility and respect among all those involved in the business of the court, says U.S. District Judge Robert W. Schroeder III.
As the U.S. Department of Justice and the Internal Revenue Service remain laser-focused on abusive cryptocurrency schemes, companies operating in this high-risk industry should review their compliance measures in areas such as data analysis, employee oversight and industry benchmarking, say attorneys at Norton Rose.
To properly meet the U.S. Department of Justice's latest corporate compliance expectations and adapt to the current remote working environment, consider collaborating with a client on an e-learning solution tailored to its employees, says Alexander Holtan at Eversheds Sutherland.
Sarah McLean at Shearman & Sterling looks at how attorneys and law firms can partner with nonprofits to leverage their collective resources, sharpen their legal skills and beat the unique pandemic-induced challenges to providing free legal services to low-income individuals.
In this era of fully remote depositions, attorneys must carefully consider whether they want to deliver exhibits to opposing counsel in advance or on the day of the deposition, and think creatively about the technological resources available to them, say Helene Wasserman and Nathaniel Jenkins at Littler.
The struggle to replace Justice Ruth Bader Ginsburg raises the question whether U.S. Supreme Court justices and federal judges are able to separate their political beliefs and world views from their judicial opinions, with studies in political science and social psychology providing clear answers, says Drury Sherrod at Mattson and Sherrod.