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duaneodavila · 6 years

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Shipping Up To Boston: Why Biglaw Associates Should Seriously Consider Lateraling To Boston Law Firms [Sponsored]

Ed. note: This is the latest installment in a series of posts from Mainspring Legal’s team of expert contributors. Eamon Welch is based in Massachusetts where he oversees attorney placements and client services in the Boston and New York markets. Prior to joining Lateral Link, Eamon practiced law in Goodwin Procter’s Boston office and Greenberg Traurig’s Miami office. Eamon earned his J.D. magna cum laude and Order of the Coif from the University of Miami School of Law, and he also holds an M.A. from Duke University and a B.A. from Trinity College.

November has arrived, and as Biglaw associates wrap up another 2200-hour billable year, many begin to contemplate their next career move. But for associates in New York City and beyond, it doesn’t have to be an unenthused choice between more of the same. Whether it’s long-term growth potential, increased purchasing power, better quality of life, or a variety of other compelling reasons, associates across the country should seriously consider transitioning their careers to Boston’s thriving legal market.

Premier Clients and Sophisticated Work

General Electric, State Street, Boston Consulting Group, New Balance, Liberty Mutual, Putnam Investments, Bain Capital, The Baupost Group, Boston Scientific, and Vertex Pharmaceuticals are only some of the household names that’ve chosen the Boston metro for their global headquarters. And when you throw in several of the nation’s top universities and the most vibrant tech ecosystem east of Silicon Valley, it’s no wonder why the Kirklands and Lathams of the world are expanding their footprint into what was once deemed a provincial legal market.

The current driver of Boston’s economy is innovation (illustrating this fact, Bloomberg has designated Massachusetts as the most innovative state in the nation on multiple occasions). Accordingly, Corporate Associates with experience in — or an interest in — the technology, life sciences, or emerging companies sectors are highly sought after in Boston, and they’ll have the chance to work on some of the most sophisticated transactions in those domains. Similarly, Intellectual Property litigators are in demand by firms throughout the city.

Even if one’s practice isn’t concentrated on the innovation economy, opportunities still abound. Boston law firms are very active in the private equity space (both large-cap and middle-market), so numerous positions are available for M&A lawyers; correlatively, there always seems to be a need for individuals with high-level Capital Markets or Finance experience. Given the booming real estate market, attorneys with all types of real estate expertise will be of interest to firms. Associates with practices that complement any of the above, such as Private Funds, Tax, or Restructuring will also discover that doors will open for them. And as the home of both the District of Massachusetts and 1st Circuit federal courts, litigators will find an abundance of first-rate trial and appellate work.

Quality of Life (Inside of the Office)

But what makes practicing in Boston so appealing is the quality of life that it offers associates. According to the associate happiness survey conducted by Chambers, “young Bostonian lawyers were among the happiest and least stressed in the US.” In 2016, National Jurist ranked Boston as the 3rd best city for young attorneys (significantly outplacing New York and San Francisco). And the data from The American Lawyer’s midlevel associates survey earlier this year further corroborates the Boston-favorable sentiment: for those firms listed with offices in both Boston and New York, for a sizable majority of firms, midlevel associates in Boston are happier than their New York colleagues.

The superior quality of life that Boston affords associates can be separated into two categories: inside of the office, and outside of the office. Inside of the office, Boston Biglaw is a kindler, gentler version of its New York counterpart, while still supplying the same upside (sophisticated work, premier clients, high compensation, partnership potential, in-house exit opportunities, etc.). Average associate billable hours are generally less in Boston than in New York. Moreover, many Boston firms prioritize creating an environment that truly supports work/life balance: respecting vacations and holidays, minimizing weekend demands, and allowing remote work, among other initiatives. This focus presents a strong contrast to the 24/7/365 nature of practicing in cities like New York.

Top Boston firms are also typically less leveraged than comparably ranked firms in New York (i.e., they have fewer associates per partner). This composition decreases hierarchical structure, which has a pair of positive consequences for associates: (i) it promotes a more egalitarian atmosphere in the office, as there are fewer artificial lawyers of seniority; and (ii) it enables associates to acquire more substantive legal experience, direct partner interaction, and meaningful client exposure earlier in their careers. As one associate described practicing at a Boston firm, “You don’t feel lost in some big corporate machine here. In fact, we get a lot more attention and exposure to higher quality work than in the larger offices in New York.”

There’s also a palpable sense that Boston firms invest in — and truly care about — the long-term professional development of their associates. A Boston associate isn’t just another number, another anonymous face, who will complete a three-year rotation and then be pushed out the door. Boston firms often hire for partnership; if partnership isn’t an associate’s end goal, many firms actively help associates secure in-house roles with firm clients. As summarized to Chambers about associate career prospects in Boston, “[Y]ou can build a long-term career here. The typical view of law firm life in places like New York is that you get there and stick it out for as long as you’re willing to put up with the lifestyle sacrifices, and then you leave. It’s not like that in Boston. Firms aren’t used as a stepping stone with a large number of people leaving after three, four, or five years….The firms try to grow and develop people.”

Quality of Life (Outside of the Office)

Beyond the office, Boston provides several other advantages that enhance an associate’s quality of life. A major factor is the relative purchasing power of a Biglaw salary in Boston. According to NALP’s “Class of 2016 Buying Power Index,” a Boston associate would need to earn only $116,820 to enjoy the same purchasing power as a $180,000 salary in New York; phrased differently, a first-year associate’s salary (on the pre-Milbank scale) has over 54 percent more purchasing power in Boston than New York. When one considers that most of the top Boston firms match New York market salaries (and those firms that don’t are close behind), one sees that Boston allows for a comparatively more affluent lifestyle.

But what interesting activities can associates spend their more valuable dollar on? Many. Boston is a deeply historical city, so there are plenty of offerings for the history buff. Between the dynamism of Boston’s academic institutions, and a vibrant arts and cultural community, an intellectual energy permeates the city. A bourgeoning restaurant scene has put Boston on the map of foodies. And Boston is home to professional sports teams in every major sport, the majority of whose stadiums/arenas are downtown and easy to get to.

Boston offers all of the benefits of living in a world-class city, but in a more manageable day-to-day setting. The historic brownstones of Back Bay and Beacon Hill, and the modern high-rise apartments of the Seaport, are all within walking distance of Boston’s major law firms. If one opts to move out of downtown, inviting suburbs with top public schools are only a 20- to 30-minute drive or train ride away. And because it’s so easy to get in and out of Boston (and because Associates aren’t spending every waking moment at their desks), Associates can avail themselves of all of the desirable destinations within a 1 to 3-hour radius of the city: Cape Cod, Nantucket, Newport, and Maine during the spring and summer; the Berkshires during the fall; and the mountains of Vermont and New Hampshire during the winter.

Entering the Boston Market

The Boston legal market is flourishing, with available positions for associates of all practices and seniority levels. There used to be a sense that unless one attended college and law school in Boston, or needed multiple hands to count the generations of one’s ancestors who had resided in New England, the Boston legal market was inaccessible; that ship has sailed like the Mayflower. Boston firms are now very open to — and in some cases, prefer — associates from other major cities.

If you’d like to stay in (or relocate to) the Northeast but would prefer practicing in a city that offers long-term growth potential, increased purchasing power, and good quality of life, you should seriously consider transitioning your career to Boston. Please feel to reach out to me at [email protected] in order to explore opportunities in the Boston market and learn how to best position yourself for them.

Lateral Link is one of the top-rated international legal recruiting firms. With over 14 offices world-wide, Lateral Link specializes in placing attorneys at the most prestigious law firms and companies in the world. Managed by former practicing attorneys from top law schools, Lateral Link has a tradition of hiring lawyers to execute the lateral leaps of practicing attorneys. Click here to find out more about us.

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submitabug · 7 years

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Tariq Hilaly, the CEO of a healthcare tech startup called Lumity, bought the property along with his wife and parents in 2014. The landlords’ attorney told the Guardian that the owners had made every effort to resolve the dispute without litigation, and had worked to assist the family with relocation. He further asserted that the owners had been patient and accommodating, even though Tariq’s parents, who are in their 70s, have a right to occupy the property and are eager to move into the Allens’ apartment to be close to family.

But Betty Rose and her supporters said it was unethical for the landlords to evict Beatriz in her final year of life, and that the recent evictions of seniors in rent-controlled homes were a form of abuse that could increase as housing prices continued to soar in San Francisco and the surrounding region.

In March, a 100-year-old tenant, Iris Canada, died in San Francisco after losing her protracted eviction battle with owners, and nearby Carl Jensen, 93, also died amid a fight over the fate of his property.

“Mom is No 3. She is the third person to be killed and die for this,” said Betty Rose, 58, who is still fighting to stay in her home, which is located on the same block where she grew up in the city’s Noe Valley neighborhood.

Wealth has become so immense in San Francisco that the federal government recently stated that a household making $105,350 per year could be considered“low-income”. By many measures, the city has the priciest real estate in the US.

Don’t look to the techbros to fix this. They don’t. If anything, they’ll more than likely cite rent control as the cause of the problem.

#san francisco #housing #california #technology

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voyagerstellar · 3 years

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The law is a branch of learning that has many rewards. For those that choose the law as a career, law practice will be an endeavor that brings in a steady stream of income. Some law firms, however, only provide a limited amount of services: letselschade advocaat. Others are only available for those willing to spend thousands of dollars on training. There are law firms and paralegals for virtually every niche law practice imaginable.

Before law practice becomes an option, a law student must make his or her way through law school. Law school can take many years to complete and it's not uncommon for law students to go back to school every two years after completing their original four-year course of study. Law schools vary in size and complexity. A law student will find that the more prestigious law schools are harder to get into and usually require a lengthy application process. Students who apply to top programs have better odds of being accepted. Some top ranked law schools are George Warren School of Law in San Francisco, California; John Jay College of Criminal Justice in New York City, New York; ministry school, University of Alabama in Tuscaloosa, Alabama; William & Mary College in Williamsburg, Virginia; and Edmund A. Murphy School of Law at Florida International University.

There are other ways to make money within the law practice other than working as a lawyer. Paralegal work is often a stepping stone to becoming a lawyer because paralegals must first work in the legal field to gain the experience needed to succeed as a lawyer. Many paralegals begin their careers as an assistant to a lawyer. This type of experience is helpful because it allows a paralegal to build up the client base needed to make it through the many demands of law practice.

It is possible to become a paralegal without going to law school. Many employers prefer to hire paralegals because they offer a cheaper alternative to hiring a lawyer. Paralegals work under lawyers and are therefore able to handle many of the routine legal tasks required by lawyers. For example, they are responsible for interviewing witnesses, carrying out research and compiling litigation documents and serving clients who are represented by a lawyer. Since the responsibilities of a paralegal do not involve taking on the nature of legal issues, paralegals are often less stressful for employers to have on staff.

If you decide to become a paralegal, you will find that there are many opportunities available to you: Dordrecht letselschade advocaat. A few areas of the law are particularly attractive to paralegals because they deal with fields of the law that are not easily or quickly navigated by a lawyer. For example, administrative law, contracts, insurance and real estate law are all areas of the law that can be handled by a paralegal. In addition, the Internet, corporate law and tax law are all expanding in new directions, and paralegals who have knowledge of these areas are in great demand by law firms and other employers.

As you may be aware, becoming a paralegal is an entry-level position, but it does offer a lot of benefits and flexibility that make it a good choice for anyone seeking a law practice. For example, you will need no law license, since you will not be practicing law as an attorney. You will not need to take time off from your job, since you will be working as a paralegal for the client directly. This gives you great freedom in your work style and lifestyle.

Becoming a paralegal is not something that everyone should do, however. If you are over twenty years old, you must have been in college for at least four years before you can practice law. It is also important to have a good enough score on your college applications to qualify for admission into a law school. It is also possible to get a paralegal job without a college degree; however, this will usually require a great deal of work experience in the field. Many people choose to become paralegals because they want to supplement their law practice by specializing in a certain area.

If you are interested in working as a paralegal, you have many options available to you: letselschade advocaat. Most law firms will not hire lawyers, which leaves the door wide open for those who are interested in this type of work. If you prefer to work directly with clients, you may wish to start by working as a secretary or receptionist for a firm's legal office. You can always find other areas in which to focus your career.

#arbeidsrecht advocaat #advocaat arbeidsrecht #arbeidsrecht advocatenkantoor #advocaat #beste letselschade advocaat

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henleyandhenleypc-blog · 4 years

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Attorney Hudson Henley

Attorney Hudson Henley Hudson Henley was born in the San Francisco Bay area on a Naval base, the son of a Navy officer. He was relocated to the Dallas area as a three-year-old child. Texas has been his home since that time. Hudson graduated with a degree in Political Science in 1988 from the University of North Texas. From UNT, he enrolled at the University of Texas School of Law and graduated with honors in 1991. Hudson worked in Austin upon graduating and eventually started a law firm with a classmate that lasted several years before he went independent. At age 29, Hudson Henley already had 25 employees and a successful law practice focusing on civil litigation, mostly personal injury cases. Over the last several years, he has become more focused on real estate law. Hudson is an active real estate investor who understands the needs of property investors and lenders from personal experience. Professional Licenses Licensed in Texas since 1991 and in California since 2000. Member of the Phi Delta Phi Legal Honor Fraternity US District Court for the Northern District of Texas US District Court for the Southern District of Texas US District Court for the Western District of Texas Read the full article

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evictionslaw · 2 months

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Our landlord-tenant law firm can provide legal guidance, assess the strength of your case, and represent you in court if necessary. We can help you recover your security deposit, along with a reasonable amount of damages suffered. Schedule a consultation with our San Francisco landlord-tenant dispute lawyer today by calling 415-649-3423.

#Syndication Formation Lawyer #Entity Solutions Lawyer #Entity Solutions Attorney In San Francisco #Business Succession Planning In San Francisco #Real Estate Lawyer #San Francisco Real Estate Litigation Attorneys #San Francisco Real Estate Litigation Attorney #Real Estate Litigation Attorneys San Francisco

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marymosley · 4 years

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A Dozen of the Richest Practicing Lawyers in the World

I thought it might be interesting and fun to take a look at the richest lawyers in the world. These lawyers put the top of the biglaw salaries to shame. We’re talking about people with at least an eight digit net worth. How did they become so rich?

Many of these familiar faces, like Judge Judy or legal and political analyst Alan Dershowitz, make regular television appearances and offer routine commentary. These individuals have tried cases of all kinds—from the massive and mundane to the captivating and bizarre. Over lengthy careers, they’ve amassed significant wealth and continue to dominate their respective fields as exceptionally hard-working, pioneering people.

Without further ado, here’s the current list of the top 12 wealthiest, practicing lawyers:

1. Wichai Thongtang

Net Worth: $1.8 billion

Wichai Thongtang is a powerful corporate billionaire lawyer in Bangkok Thailand who successfully represented former Thai Prime Minister Thaksin Shinawatra in an asset concealment case back in 2001. That case instantly catapulted this humble farm boy celebrity status throughout Thailand and abroad.

Thongtang graduated from Thammasat University and began practicing corporate law in the 1970s, representing leading Thai executives and their companies. Though he is still chairman of his eponymous international law firm, much of Thongtang’s wealth comes from strategic investment holdings that he has acquired throughout his career, including several hospital-related holdings and a Thai cable company.

Yes, you read that right. He got rich by being a capitalist through investments made by his lawyer earnings.

2. Charlie Munger

Net Worth: $1.6 billion

Charlie Munger might be better known as Warren Buffett’s partner at Berkshire Hathaway but he is a Harvard educated lawyer with a serious bankroll. Most of his net worth is tied up in Berkshire Hathaway but he is also the founding partner of Munger, Tolles & Olson LLP, a law firm he started in 1962.

Eventually Munger gave up the practice of law when he realized he could make significantly more money contracting on managing his investments and working with Warren Buffett (how’s that for a good financial decision – quit the law firm that you started in 1962 and open up a partnership with Warren Buffett). I bet his peers thought he was crazy at the time.

He’s got a lot of good quotes but one of my favorite is:

To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.

3. Bill Neukom

Net Worth: $850 million

Bill Neukom, a Stanford Law School graduate, served as the lead lawyer for Microsoft Corporation for almost 25 years, skillfully guiding the company through treacherous anti-trust and intellectual property litigation. His high-profile cases include the “trial of the century,” otherwise known as United States v. Microsoft.

At Microsoft, he was responsible for managing legal and governmental affairs as well as its active philanthropic activities, retiring as the Vice President of Law and Corporate Affairs. Neukom was eventually selected to serve as the president of the American Bar Association from 2007-2008.

Neukom went on to become the CEO of the San Francisco Giant baseball team between 2008 to 2011, guiding the team to its first World Series win since moving to California in 1958. He now works as primarily as the founder, president, and CEO of the World Justice Project. His foundation is focused on strengthening the rule of law to promote the development of communities of opportunity and equity around the world.

4. Judge Judy

Net Worth: $440 million

Judge Judith Sheindlin, television’s beloved “Judge Judy,” has come a long way from her days as a family court judge. She raked in a cooll $47 million for the latest season of her small-claims court show. Her outspoken persona has made her one of the highest-paid women on daytime television.

Although Sheindlin’s actual net worth is unknown, Forbes estimates that she deserves a place on the list of the richest self-made women in America and named her the world’s highest-paid TV host in 2018. Judge Judy has a penchant for real estate, tying up at least some of her fortune in several expensive homes around the country. She also decided to pass up commercial air travel after 9/11. Instead, she uses her own private jet to commute from the set of Judge Judy in Los Angeles from her home in Florida.

5. Robert Shapiro

Net Worth: $120 million

Robert Shapiro is a practicing lawyer who gained notoriety for being on the team responsible for exonerating O.J. Simpson from the murders of Simpson’s ex-wife and Ron Goldman. He has represented clients from Johnny Carson to Occidental Petroleum and Rockstar Energy Drinks.

Though he amassed most of his wealth from his legal career, Shapiro is also an effective entrepreneur. He is a founding member of LegalZoom, Shoedazzle.com, and Right Counsel. In addition, Shapiro has also starred as himself and as a lawyer on both television and the big screen. He earned the best film award from the Tenerife International Film Festival in 2015.

The 2005 death of his son due to a drug overdose inspired Shapiro to write the children’s book Somo Says No, which contains an anti-drug message. Along with his family, he founded the Brent Shapiro Foundation and Pickford Lofts to assist and rehabilitate drug addicts.

6. Willie E. Gary

Net Worth: $100 million

Willie E. Gary, named one of the “top 50 US attorneys” by Forbe, and one of the “100 most influential African-Americans” by Ebony magazine, is a trailblazing lawyer and entrepreneur from Georgia who went to law school in North Carolina. He is one of the founding partners of the first black law firm in Martin County, Florida, where he continues to practice.

Gary has led several high-profile litigations against large corporations, including a $500 million-dollar settlement to an undisclosed client from Mississippi, that have earned him significant wealth and prestige. He has been interviewed on the Oprah Winfrey Show and other talk shows. Despite some recent legal troubles of his own, Gary is a renowned philanthropist. Along with his wife, Gloria, he funds college scholarships for at-risk students through the Gary Foundation. He has also donated substantial sums to his alma mater and other black universities in the US.

7. John Branca

Net Worth: $100 million

John Branca, born in Bronxville, New York, is one of the richest lawyers practicing entertainment law today. He moved to Los Angeles at age 11 and has lived there since. Branca received his law degree from UCLA law school in 1975 and is responsible for pioneering many entertainment-focused ventures.

An avid musician, he specializes in representing rock and roll acts and independent music labels. Over 30 of his clients, including The Rolling Stones, Aerosmith, ZZ Top, Fleetwood Mac, and The Doors, are in the Rock and Roll Hall of Fame—more than any other entertainment lawyer.

Branca is responsible for much of the success of Michael Jackson’s Thriller music video. He sought financing for the project and his production influence led to millions of sales of that album. He also advised and facilitated Michal Jackson’s purchase of ATV Music publishing—a move that made the Jackson family hundreds of millions of dollars while they owned it. After fighting Michael’s mother over the absence of a will after his death, he continues to manage Jackson’s estate. Branca is credited with restoring and reviving Michael Jackson’s legacy through several lucrative posthumous films, shows, and experiences.

8. Roy Black

Net Worth: $65 million

Roy Black is a civil and criminal defense trial attorney based in Miami. He defended William Kennedy Smith against rape charges in 1991 and has also represented other big names like Rush Limbaugh, Kelsey Grammer, Jeffrey Epstein, and Justin Bieber.

He is famous for brilliantly-delivered, well-studied arguments during trial, and he received the highest possible score on the Florida Bar exam when he took it in 1970. Black is often referred to as “The Professor,” possibly alluding to time that he spent teaching as an adjunct professor in criminal evidence at the University of Miami.

Black frequently appeared on Good Morning America and the Early Show as a legal consultant. He has also appeared on The Real Housewives of Miami as his third wife, Lea Black, is one of the castmates. Black began dating Lea a few months after she served as a juror in Black’s case for William Kennedy Smith.

9. Jane Wanjiru Michuki

Net Worth: $60 million

Jane Michuki is a Kenyan lawyer, investor and businesswoman who graduated from the University of Warwick in the U.K. She is the managing partner of Kimani & Michuki Advocates. Her firm currently represents an extensive list of clients including Equity Group Holdings, Ltd., which is the largest bank holding company in Africa, serving over 9.2 million customers. Michuki served lead counsel for several massive housing project developers in Kenya, including the Suraya group.

In addition to practicing law, she is the largest female stockholder on the Nairobi Stock Exchange. Michuki is also a recognized humanitarian, serving as both a Human Rights consultant with the United Nations and the Special Representative to the Secretary General to the United Nations Mission Liberia.

10. Alan Dershowitz

Net Worth: $25 million

Dershowitz is a distinguished attorney and respected Harvard Law School professor. He was born in New York, leaving to obtain his law degree at Yale University.

Dershowitz was the youngest full professor of law at Harvard by 28 years of age, serving until his retirement in 2013. Since then, he has continued to work within his expertise of constitutional and criminal law as a frequent political commentator, legal analyst, and media contributor. He defended Supreme Court Nominee Brett Kavanaugh against allegations of rape leveled by Julie Swetnick prior to Kavanaugh’s confirmation.

Dershowitz recently cemented his legacy as a household name during Donald j. Trump’s recent impeachment trial. He initially joined Trump’s defense team, even offering to work for free in an effort to hold up a pure, scholarly defense of the continuation. In fact, Dershowitz published an entire book in 2018, The Case Against Impeaching Trump, to defend his position. As additional evidence surfaced, he clarified his previous statements, reversing his position and ultimately publicly calling for Trump’s impeachment.

11. Mark Geragos

Net Worth: $25 million

Geragos is an Armenian-American criminal defense and civil litigation lawyer based in Los Angeles. He was one of the lawyers in charge of a class-action suit against New York Life Insurance and AXA, securing sizeable settlements on behalf of Armenians who were issued insurance policies during the time of the Armenian genocide.

His first landmark case, however, was representing Susan McDougal of Whitewater notoriety. He has also defendedScott Peterson (later sentenced to death for the murder of his wife, Lacey), Chris Brown, Kesha, and, more recently, Colin Kaepernick and Jussie Smollett. Geragos briefly represented Michael Jackson in his molestation case but was replaced due to a very hectic schedule.

Geragos frequently appeared on CNN and Larry King Live as a legal consultant before being removed in 2019, pending his implicated involvement in an extortion scheme with Michael Avenatti. He’s also been featured on Good Morning America, 60 minutes, and Anderson Cooper 360.

12. Thomas Mesereau

Net Worth: $25 million

Thomas Meseareau, a Harvard and UC Hasting’s College of Law grad, is a criminal defense attorney. After Geragos was taken off Michael Jackson’s molestation case, Mesereau stepped in and famously had him acquitted of all charges. He’s also represented celebrities Bill Cosby and Mike Tyson at one point.

Mesereau is one of the top trial lawyers in America, having won an unheard-of three federal criminal jury trials in succession. If that’s not enough, he has a reputation for taking on high-stakes cases with impossible odds, too.

His hourly rate is so high that it isn’t published, but Mesereau does take on pro bono cases through the Mesereau Free Legal Clinic that he established. Every year, he represents a capital murder defendant from the south who can’t afford representation.

Bonus: Judge Lynn Toler

Net Worth: $15 million

Judge Lynn Toler is best known for the thirteen years that she spent on her television show, Divorce Court. Before she was a celebrity, Toler served as the only municipal judge in the Cleveland Heights Municipal Court in Ohio, winning her first judicial race by only 6 votes since she ran as a Republican in a Democratic district. Judge Toler is known for her level-headed, common-sense approach to the cases that she hears as well as non-traditional judgments, like hand-written essays.

In 2008, she hosted the show Decision House, and served as co-executive producer of Wedlock or Deadlock, a Divorce Court spinoff. She continues to contribute to her community, receiving the Humanitarian of the Year Award from the Cleveland Domestic Violence Center, and serving on the boards of charities like the Juvenile Diabetes Board and the National Alliance for the Mentally Ill.

Our list only contains living attorneys, so we did not include the estate of Joe Jamail who was estimated to have a net worth of $1.5 billion (known as the “King of Torts”) and responsible representing Pennzoil in a landmark lawsuit against Texaco where he reportedly netted $355 million on a contingency fee

Originally posted on A Dozen of the Richest Practicing Lawyers in the World

Biglaw Investor - Personal finances for the aspiring millionaire lawyer

A Dozen of the Richest Practicing Lawyers in the World published first on https://immigrationlawyerto.tumblr.com/

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mayarosa47 · 5 years

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Auditor Charged With Insider Trading

The Securities and Exchange Commission announced that an auditor based in the Silicon Valley has agreed to settle charges that he traded on inside information about a client on the verge of a merger.

The SEC’s order finds that through his work at an independent audit firm, Nima Hedayati learned that Fremont, Calif.-based Lam Research Corporation was making preparations to acquire Milpitas, Calif.-based KLA-Tencor Corporation. The two companies manufacture equipment used in the creation of semiconductors.

According to the SEC’s order, Hedayati proceeded to purchase out-of-the money call options in KLA common stock in his brokerage account as well as his fiancée’s brokerage account, and he also encouraged his mother to purchase KLA common stock. After merger plans were publicly announced, KLA’s stock price increased nearly 20 percent, and Hedayati and his mother collectively profited by more than $43,000 from the illegal trades. Hedayati’s employer terminated him when it discovered his misconduct. “Hedayati abused his important position of trust and responsibility by illicitly trading on an audit client’s nonpublic information in a quest for an easy profit, and it wound up costing him a lot more in the end,” said Jina Choi, Director of the SEC’s San Francisco Regional Office. Without admitting or denying the SEC’s findings, Hedayati agreed to pay disgorgement of $43,027.59 plus $1,269.70 in interest and a $43,027.59 penalty for a total of more than $87,000. Hedayati agreed to be suspended from appearing and practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. The SEC’s order permits him to apply for reinstatement after five years.

SEC FOIA OFFICE RECEIVES AWARD FOR EXCEPTIONAL SERVICE

The Securities and Exchange Commission today announced that its Office of Freedom of Information Act (FOIA) Services was recognized by the U.S. Department of Justice for “exceptional service” by FOIA professionals. The award to a team of 28 professionals recognized their work in handling a growing volume of FOIA requests while reducing the office’s backlog. Between fiscal 2010 and fiscal 2016, FOIA requests to the SEC rose by 38 percent while the number of completed requests in that period increased by 40 percent.

“This award is a well-deserved recognition of the SEC’s FOIA team for their efforts to keep our agency open and accountable to the American people by building one of the best FOIA programs in the Federal Government,” said SEC Acting Chairman Michael Piwowar. “We depend on the trust of the public to serve on their behalf, and it is our responsibility to earn that trust by ensuring the freedom of information.”

Despite being a medium-sized agency, the SEC processes FOIA requests at a level received at much larger federal agencies, averaging nearly 15,000 per year in each of the last four years. In addition to increased volume, the FOIA requests to the agency have become increasingly complex. While many requests previously involved minimal time and effort to process, they now often entail multiple records over a span of years, resulting in hundreds or thousands of pages that require line-by-line reviews.

The Department of Justice award for exceptional service by a FOIA professional or team of FOIA professionals was presented at a ceremony at the Department of Justice to kickoff Sunshine Week, an annual event to highlight the importance of open government.

The SEC’s Office of FOIA Services promotes transparency in government by making SEC records available to the public to the greatest extent possible under the Freedom of Information Act. The office is committed to providing a timely and efficient response to each of the requests for SEC documents and records it receives each year.

SEC: PAYMENTS FOR BULLISH ARTICLES ON STOCKS MUST BE DISCLOSED TO INVESTORS

The Securities and Exchange Commission today announced enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, unbiased analyses on investing websites while writers were being secretly compensated for touting company stocks.

SEC investigations uncovered scenarios in which public companies hired promoters or communications firms to generate publicity for their stocks, and the firms subsequently hired writers to publish articles that did not publicly disclose the payments from the companies. The writers allegedly posted bullish articles about the companies on the internet under the guise of impartiality when in reality they were nothing more than paid advertisements. More than 250 articles specifically included false statements that the writers had not been compensated by the companies they were writing about, the SEC alleges.

“If a company pays someone to publish or publicize articles about its stock, it must be disclosed to the investing public. These companies, promoters, and writers allegedly misled investors by disguising paid promotions as objective and independent analyses,” said Stephanie Avakian, Acting Director of the SEC’s Division of Enforcement.

According to the SEC’s orders as well as a pair of complaints filed in federal district court, deceptive measures were often used to hide the true sources of the articles from investors. For example, one writer wrote under his own name as well as at least nine pseudonyms, including a persona he invented who claimed to be “an analyst and fund manager with almost 20 years of investment experience.” One of the stock promotion firms went so far as to have some writers it hired sign non-disclosure agreements specifically preventing them from disclosing compensation they received. “Deception takes many forms. Our markets cannot operate fairly when there are deliberate efforts to reach prospective investors with positive articles about a stock while hiding that the companies paid for those articles,” said Melissa Hodgman, Associate Director of the SEC’s Division of Enforcement.

The SEC filed fraud charges against three public companies and seven stock promotion or communications firms as well as two company CEOs, six individuals at the firms, and nine writers. Of those charged, 17 have agreed to settlements that include disgorgement or penalties ranging from approximately $2,200 to nearly $3 million based on frequency and severity of their actions. The SEC’s litigation continues against 10 others. The SEC also instituted separate charges against another company for its involvement in circulating promotional materials that did not comply with prospectus requirements under the federal securities laws. The company settled the case.

The SEC today released an investor alert warning that articles on an investment research website that appear to be an unbiased source of information or provide commentary on multiple stocks may be part of an undisclosed paid stock promotion. Investors should never make an investment based solely on information published on an investment research website. When making an investment decision, thoroughly research the company using multiple sources.

“Stock promotion schemes may be conducted through investment research websites,” said Lori Schock, Director of the SEC’s Office of Investor Education and Advocacy. “Investors looking for objective investment information should be aware that fraudsters may use these websites to profit at investors’ expense.”

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