Author: TSA Press

British prosecutors at the Serious Fraud Office spent seven long years building a case that four Barclays executives, including the then-CEO (for those keeping count, this was four CEOs ago) and the bank itself, essentially bribed the Qatari Ministry of Finance to bail it out during the financial crisis, so it didn’t have to humiliate itself like RBS by prostrating before its own ministry of finance. Considering that the alleged scheme wasn’t all that complicated—the bankers were accused of offering a few hundred million in advisory fees and a $3 billion loan facility in exchange for a $15 billion capital infusion, and then failing to disclose/lying about it—seven years seems like a long time to spend connecting the dots. Too long, in fact. This awful realization probably began to dawn on the SFO two years ago, when its charges against Barclays itself were junked, with the real foreboding setting in last year, when the aforementioned ex-CEO, John Varley, was acquitted. And now, the horrible denouement: The SFO really did spend seven years and undoubtedly a not insignificant amount of taxpayer money for nothing.

Despite the fact that she missed oral arguments for the first time ever due to an illness, Justice Ruth Bader Ginsburg has written more opinions than any of her colleagues in argued cases so far this term. How many has she written?

Hint: She may be 86 years old, but she’s blowing away the rest of her younger competition.

See the answer on the next page.

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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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Olga V. Mack is the CEO of Parley Pro, a next-generation contract management company that has pioneered online negotiation technology. Olga embraces legal innovation and had dedicated her career to improving and shaping the future of law. She is convinced that the legal profession will emerge even stronger, more resilient, and more inclusive than before by embracing technology. Olga is also an award-winning general counsel, operations professional, startup advisor, public speaker, adjunct professor, and entrepreneur. Olga founded the Women Serve on Boards movement that advocates for women to participate on corporate boards of Fortune 500 companies. Olga also co-founded SunLaw, an organization dedicated to preparing women in-house attorneys to become general counsels and legal leaders, and WISE to help female law firm partners become rainmakers. She authored Get on Board: Earning Your Ticket to a Corporate Board Seat and Fundamentals of Smart Contract Security. You can email Olga at olga@olgamack.com or follow her on Twitter @olgavmack. 

The rise of the novel coronavirus has the world on edge as it struggles to mitigate what might be a devastating global pandemic, or a more severe seasonal flu. 

Nonetheless, we can have preparedness without panic. Firms are already adopting measures to combat the spread of the virus. Dentons, which famously swallowed up the 4,000 strong Chinese firm Dacheng in 2015, has temporarily closed its Wuhan office and many Biglaw firms are directing their attorneys in China to work remotely. Orrick, Norton Rose, Duane Morris, and Baker Botts are either canceling or imposing restrictions on their upcoming conferences and retreats in the U.S. and abroad. 

In Shanghai, Quinn Emanuel and Squire Patton Boggs are reimbursing attorneys for taxi expenses should they have to travel to their offices to dissuade them from taking public transportation. In Milan, Biglaw firms Baker McKenzie and Squire Patton Boggs are encouraging their attorneys to work from home as the virus spreads in Italy, and Baker McKenzie has closed their London office after one employee returned from Italy sick.  

Justin Flowers, our Principal in Hong Kong, has been monitoring the situation closely since the outbreak. He notes that the initial panic has mostly subsided, and despite market turmoil, there is a feeling that the gears are shifting and a return to normalcy has begun. On Monday, many firms in Hong Kong and Shanghai are expected to begin implementing return-to-work policies and Beijing will likely follow suit. 

Across the globe, other countries are enacting isolation measures. Japan announced schools will close for at least a month to reduce transmission of the virus. Schools in China have already closed, affecting 200 million children. The U.S. is taking a more reactionary approach, waiting for cases to appear before closing down communal spaces. 

Forecasting how the virus might impact Biglaw relies on a myriad of assumptions. Currently, the Dow Jones is plummeting in response to the virus’s corporate shrapnel. Thursday saw the largest point drop in the index’s history. The ripple effect could be wide-reaching – China’s carbon footprint has dropped 25 percent compared to the same period last year, reflecting the slowdown in factory production in China. 

Supply chain disruptions have already had a tangible effect on companies with major footprints in China like Apple, whose stock is down 16.4 percent from its record high in mid-February, and has reported slowdowns in their Chinese factories. Unlike many of its peers, Apple’s reported cash reserves of $250 billion dwarfs even Smaug’s river of gold in the Lonely Mountain, a prescient policy harkening back to Apple’s near bankruptcy in the late 1990s. For the rest, the hope is that the rhetoric surrounding the coronavirus will be mostly sound and fury, similar to the H1N1 outbreak of 2009 that stirred up visions of global doom. 

Forecasting what the disease progression might look like has been difficult. As of right now, there are 51 countries with confirmed cases of the virus. There have been many attempts to quantify how contagious and how deadly the virus is. On Monday, an article published in the Journal of the American Medical Association (JAMA) gave an update on the severity of the disease. Using data from the Chinese Center for Disease Control and Prevention, they found that the overall case fatality ratio (CFR) – deaths per cases confirmed by RT-PCR or other assays – was 2.3 percent . Compared to the CRR of Middle East Respiratory Syndrome (MERS) (9.6 percent) and SARS (34.4 percent), the disease is assumed at this point to be much less deadly. What distinguishes the coronavirus (SARS-CoV-2), is how rapidly and widely it is spreading. Even though the disease is presumably much less deadly than both MERS or SARS, it has already led to more total deaths because it is spreading much quicker. 

There have been many attempts to quantify the infectivity of SARS-CoV-2, but the limited datasets and differences in statistical modelings have created a wide range of proposed outcomes. Epidemiologists use a measure called R0 (R naught) to estimate the spread of a disease. R0, also known as the basic reproduction number, tries to measure how many new cases one case of the virus will cause. Currently, most models estimate the basic reproduction number to be between 3-5, substantially higher than the WHO’s estimate of 1.4–2.5.

Should the virus continue to spread in the U.S., we expect Biglaw firms to institute isolation policies and encourage their attorneys to work from home. The good news is that technology has made remote working more productive than ever. In fact, recent studies have shown that remote employees are more productive. Deal flow may slow if market turbulence continues, but we expect firms will maintain their status quo in billings and laterals by introducing flexible solutions and realigning priorities. 

We have had lateral candidates seeking to expatriate from China, asked to observe a 14-day domestic quarantine before interviewing to ensure the virus is not spread. As an interconnected recruiting firm with a global full-service platform, we make use of a plethora of different technology platforms including a proprietary video conferencing solution to facilitate the type of effective communication that twenty years ago, was only possible by sharing an office. We will work with our law firm clients to ensure their strategic goals are accomplished, even in the wake of a worsening pandemic, by offering our technology platform and comprehensive services in coordinating remote attorney interviews and by offering flexible solutions through our sister company Bridgeline Solutions to help firms scale their workforce as needed. 

Part of strategic realignment will likely come with an emphasis on bankruptcy, restructuring, litigation, and labor & employment if demand for corporate work slows. Typically, we see these countercyclical practices buoy firm financials in times of recessions. Assuming we actually do see a recession, firms will pivot their lateral hiring strategy to emphasize these practices, which could impact junior attorneys. 

Lateral Link recruiter Jon Kahn who survived three recessions as a Biglaw partner and associate retooled his practice to survive the recession. As corporate work dried up in the early 1990s, Jon was forced into Fried Frank’s litigation practice to save his career. Unhappy in the practice, a recruiter approached him and brokered a deal for Jon to join Cahill Gordon as a capital markets attorney, after taking a small experience haircut. We have a long track record of success in moving associates across practice areas and we are happy to help if you are considering a move to another firm or another practice. 

If you are an experienced attorney looking to lateral, time is of the essence. Firm administration is preoccupied with plotting their strategic response to different potential outcomes of the virus life cycle. Consequently, submitting an unsolicited resume right now for a lateral move is a waste of time. We are finely attuned to our law firm client’s needs across the U.S. and globally and we are happy to help you navigate the lateral market in this uncertain time. At the end of the day, though these may be trying times, the world is not ending, and Biglaw will subsist, and as the early Am Law 200 reports indicate, thrive. 

Ed. note: This is the latest installment in a series of posts from Lateral Link’s team of expert contributors. Michael Allen is the CEO of Lateral Link. He is based in the Los Angeles office and focuses exclusively on Partner and General Counsel placements for top firms and companies. Prior to founding Lateral Link in 2006, he worked as an attorney at both Gibson, Dunn & Crutcher LLP and Irell & Manella LLP. Michael graduated summa cum laude from the University of California, San Diego before earning his JD, cum laude, from Harvard Law School.

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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.

It took me four, five years just to learn how to cope with attorneys. I’ve seen attorneys try to just take a judge off just by doing some really outrageous things, and trying to get the judge to lose their temper so they can get that judge recused. It happens all the time, and some people are just diabolical in the way they act, just to get the judge to make a mistake like that.

— Former Miami-Dade Circuit Judge Ronald Dresnick tells Law.com being a judge means being tested by attorneys all the time and being “goaded” by advocates trying to get recusals. The pressure of the robe often means high blood pressure, insomnia, stress, and other health issues, according to a study by the American Bar Association’s Commission on Lawyers Assistance Programs.

People are dying, the stock market is tanking, and we’re being told to stock up on water and anticipate major disruptions. But, hey, at least the cops in Wisconsin are keeping a sense of humor about this whole pandemic thing!

The Washington Post reports that the Merrill Police Department posted this public service announcement to Facebook on Wednesday.

P.S.A
WARNING: If you have recently purchased Meth, it may be contaminated with the Corona Virus. Please take it to the Merrill Police Department and we will test it for free. If you’re not comfortable going into an office setting, please request any officer and they’ll test your Meth in the privacy of your home. Please spread the word! We are here for you!

Get it? The criminals will bring their drugs into the police station for a virus scan, and then the cops will yell, “Gotcha!” and slap on the cuffs.

Note that the post was updated a day later to “bring this full circle” after the entire public health establishment collectively shouted, “WHAT THE F*CK WERE YOU THINKING?”

“This is a time when people need to be taking public health authorities very seriously,” Prof. Stefano M. Bertozzi of the University of California at Berkeley’s School of Public Health told the Post. “They’re undermining their credibility that will be very much needed if and when an epidemic comes to their community.”

And the cops in Merrill weren’t the only ones squandering their own credibility in a potential health crisis for a few yuks on the outside chance that someone would be dumb enough to believe the police. According to the Post, “Departments in St. Francis County, Ark., Johnson City, Tex., Tavares, Fla., and Decatur County, Kan., have all blasted out the warning, in some cases grabbing straight-faced headlines from local TV news outlets that ran the story like a police news release without a hint of skepticism.”

Back in Merrill, the cops were real sorry you took it wrong, and they hope this “conversation” is a “catalyst for getting people into a better place.”

Just to give you some history, we have actually experienced people report their illegal drugs being stolen, being ripped off in a drug deal, being sold a look-a-like illegal substance, etc. We have even experienced drunk drivers coming to pick up arrested drunk drivers as their “sober responsible party”. So this attempt, although a long shot, still had some possibility behind it. We will take those easy grabs at removing poison from our community whenever we can. That is our role which we un-apologetically must fulfill.

See, there’s absolutely no difference between this and sending people with outstanding warrants invitations to come and collect a plasma TV they “won.” Likewise, no diminution of institutional credibility is too great if it gets even one gram of meth off the streets. They had to do it, or else the terrorists win!

Police are issuing fake warnings of meth tainted with coronavirus. Public health experts say please stop now. [WaPo]

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Elizabeth Dye lives in Baltimore where she writes about law and politics.

Well, isn’t this awesome news?

Tulane Law School dean David Meyer announced yesterday that the law school’s Women’s Prison Project (WPP) has received almost $2 million from an anonymous donor. The WPP clinic is a unique one that helps women at the intersection of domestic violence and the legal system focusing on cases where a survivor of domestic violence is charged with killing an abuser or for crimes under an the coercion of their abuser.

And what’s all the money going to buy Tulane Law? Two clinical professors and three professional staff members. That will allow the program to help even more women.

“We could not be more grateful to the generous donors for their vision and partnership in making this possible,” Meyer said.

Tulane President Mike Fitts echoed Meyer’s gratitude for the gift and the important work it will fund.

“This gift supports the kind of bold, impactful and transformative efforts that are at the heart of Tulane’s educational mission,” Fitts said. “We prepare our students to do good, to promote justice and to improve the human condition, not only as future leaders, but here and now, through a hands-on, life-changing curriculum.”

The WPP was founded by Professor Becki Kondkar, director of Tulane’s Domestic Violence Clinic, and Professor Katherine Mattes, director of Tulane’s Criminal Justice Clinic. They recognized the unique legal issues faced by abused women, and are excited to have found a donor who appreciates that. Kondkar said, “We are so fortunate to have a donor who supports the bold action and expansive vision necessary to address this problem.”

And Mattes explained why the project is essential:

“There are so many women in Louisiana sentenced to die in prison for defending themselves. We have a lot to do, but we have a lot of hope,” said Mattes. “Hope because the time is ripe for reform; hope because there is a growing awareness about intimate partner violence; and hope we get from these women who, despite everything, haven’t given up.”

Congrats to Tulane Law and the WPP. That’ll be money well spent.

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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).