Kai Haakon E. Liekefett

On 5/8, MBJ partner Jeffrey Siegel will speak on the Boston Bar Association’s virtual panel, “Navigating the FTC’s Non-compete Ban.” Jeff and fellow panelists will discuss the FTC’s recent #FinalRule decision prohibiting most #noncompete agreements, as well as the exceptions, practical implications, and ongoing legal challenges of the Final Rule. For more information and to register for the program, visit here: https://lnkd.in/eYfbhQ2D #employmentlaw #laborandemployment #noncompetition #restrictivecovenants

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CAR CRASH - get a Super Lawyer who can help you recover the BEST result possible. Our Erica Tannenbaum is the perfect choice in #NYC | Find out what your case could be worth!

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Check out this Law360 article written by Seth I. Feldman, Esq. & Pierre E. Debbas about how New York co-op boards should transparently disclose minimum sales prices to fulfill fiduciary duties and ensure fair market practices. Click the link below to read the whole article!

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How did the Kirkland partner video get leaked is the question we’re asking ourselves. Some are recalling the infamous ‘Claire Swire email’ which involved a Norton Rose lawyer from way back at the dawn of time in 2000 and the one too from a CC lawyer back in 2003. *All articles and videos can be found in the comments section. Clifford Chance Adopts US-Style Bonus System for Associates: Clifford Chance has revamped its bonus system for UK associates to align more closely with those offered by US firms, according to The Lawyer . The new system, introduced last month, rewards associates more when they are in higher demand, with bonuses linked to the number of hours billed. This US-style focus on billables marks a departure from the ‘no target-hours culture’ prevalent at many UK firms. Clyde & Co Boosts Revenue by 10%: Clyde & Co has reported strong financial results for the past year, with revenue growing by 10% to £845 million. Profit per equity partner (PEP) increased by 4% to £739,000. The firm attributed its growth to success across various practice areas, emphasizing its "sector-focused, geographically hedged" model. Over the year, Clyde & Co added 32 new partners through lateral hires and internal promotions. Kirkland & Ellis Partner Video Goes Viral in the City: A video leaked to RollOnFriday shows two Kirkland & Ellis partners in London mocking a fellow partner during a work call, culminating in him knocking over a bottle of whisky. The footage, recorded in Kirkland's London office in the Gherkin, is circulating among City lawyers. In the video, the partner gives the middle finger to the person filming but nearly drops a bottle of Macallan whisky before catching it. Reactions in the comments are mixed. One top comment expressed sympathy, saying, "can't believe anyone leaked this… poor guy," while another suggested, "I'd be sacking this bunch of jokers. You know this is just the tip of the iceberg." Partner's 4,000 Hours Help Sullivan & Cromwell LLP Hit $200 Million Mark: Sullivan & Cromwell’s fees for the ongoing bankruptcy of cryptocurrency exchange FTX have reached $200 million, largely thanks to the efforts of a single partner. Litigation partner Brian Glueckstein has averaged 11 hours a day, five days a week, for 18 months, billing more than 4,000 hours at a rate of $2,375 per hour, amounting to $9.5 million. Sullivan & Cromwell lawyers have collectively billed over 168,000 hours on the matter so far, reports Reuters. CC: Non-Billable

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Former FTX executives Nishad Singh and Gary Wang face sentencing in late 2024 for their roles in FTX's turbulent history. Singh's hearing is set for October 30, 2024, followed by Wang's on November 20, 2024, in the Southern District of New York District Court. Their cases shed light on legal repercussions within the crypto industry. Stay informed on this developing story impacting blockchain and finance. Read the full article here: https://lnkd.in/gpQ4Rvmb #CryptoNews #FTX #LegalUpdates

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DELAWARE’S SUPREME COURT UPHOLDS HIGHER STANDARD OF REVIEW FOR M&A TRANSACTIONS As previously reported by Valerm Law Group, the Supreme Court for the State of Delaware had decided to review In Re Match Group, Inc. Derivative Litigation, No. 368,2022, a pivotal case that could have far-reaching implications for corporate dealmaking and the rights of minority investors in transactions involving controlling stockholders. The case involved the dating site Match.com and its spinoff from IAC/Interactive Corp (“IAC”). The central issue was the legal standard that corporate leaders must meet to defend a transaction as "entirely fair," with a focus on whether it should require both the setup of an independent special committee and majority approval from unaffiliated investors. The legal framework under scrutiny is known as the "MFW" doctrine, established in 2014 in Kahn v. M & F Worldwide Corp., 88 A.3d 635 (Del. 2014). Originally designed for "squeeze-out" or "freeze-out" transactions where controlling stockholders unilaterally set the buyout price, this standard is now being applied to a broader range of deals, including CEO compensation decisions and consulting agreements with affiliates. IAC advocated for a change in this legal standard, suggesting that either setting up a special committee or obtaining majority approval should suffice, rather than both. On April 4, 2024, Delaware’s Supreme Court concluded that in a controlling stockholder transaction where the controlling stockholder stands on both sides and receives a non-ratable benefit, the presumptive standard of review is entire fairness. The controlling stockholder can shift the burden of proof to the plaintiff by properly employing both a special committee and an unaffiliated stockholder vote, as required by MFW. But use of just one of those procedural devices does not change the standard of review from entire fairness to business judgment. The Court explained that its prior precedents, including Tremont II, Emerald Partners, Levco, and Ams. Mining, have consistently held that entire fairness is the standard of review for controlling stockholder transactions involving a non-ratable benefit, even if an independent committee negotiates the deal. The Court rejected the defendants’ argument that "traditional principles" allow business judgment review with just one procedural device, finding this unsupported by precedent. The second issue was whether the defendants satisfied the MFW framework. The Court agreed with the Court of Chancery that one member of the separation committee, lacked independence. However, the Supreme Court held that under MFW, all members of the special committee must be independent, not just a majority. The Court found the plaintiffs adequately alleged that the separation committee was not independent, and therefore the defendants did not satisfy the MFW requirements to invoke business judgment review. #Corporate&TaxLawyers

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Samir NeJame, Chair of the New York State Government Law & Policy (GLP) Practice was interviewed in a New York Law Journal article titled "Lawyers Were Central to NY's Record Lobbying Year in 2023, Report Says." Samir notes GT’s GLP Practice is unique among its competitors because it is comprised of lawyers and lobbyists who are versed in navigating the complexities of the government within the bounds of the law. This is a value-add for clients looking for sophisticated representation during a heightened regulatory environment. 📖 Read the article here: https://buff.ly/4cJDnZA. #GTInTheNews #GTAlbany #NYLobbying #GovernmentLaw

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🎧 Listen now: https://bit.ly/3VmeCeQ - In this informative conversation, NYIAC Executive Director Rekha Rangachari discusses the New York International Arbitration Center’s mission, structure, and initiatives with International Arbitration partner J.P. Duffy. #podcast #ReedSmithIA #NYIAC #InternationalArbitration

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Jeffrey A. Galant, Counsel to Meltzer, Lippe, Goldstein & Breitstone, LLP wrote an insightful article published in The New York Law Journal titled “Planning Ahead for Tax Liabilities.” A noteworthy aspect of such planning, and the focus of this article, is the benefit of planning in advance for the relief from certain federal income tax liabilities potentially available to a married couple who reside together. Read the full article here: https://bit.ly/4cN5EhC.

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Gordon Rees Scully Mansukhani Partner Alexander Nemiroff was quoted in "A Recent Supreme Court Decision Will Have A Significant Effect On Small Businesses," published by The Philadelphia Inquirer on July 2, 2024. "We’re still telling our clients to continue to prepare their pay practices for compliance to the new rule," commented Nemiroff. "You still have to go under the assumption that the regulation is moving forward." This article explores the Department of Labor's new overtime rule, which increases the salary threshold for mandatory overtime pay and is set to rise further in the coming years. It also discusses the implications of the Supreme Court’s recent Chevron reversal in regard to labor law enforcement. To read the full article, please click here: https://lnkd.in/gNbmt4mJ #employmentlaw #employmentlawyer #overtime #smallbusiness #laborlaw #lawyer #legal #litigation #lawfirm #attorney #grsm #gordonrees #your50statelawfirm

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Gearing up for #climate disclosure rules and AI-backed government #enforcement. Plus the board’s critical role in a spin-off, full disclosure about conflicts and how #directors can engage #shareholders. All in this issue of The Informed Board. #ai #artificialintelligence #esg #boardsofdirectors #corporategovernance #capitalmarkets #mergersandacquisitions

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Danielle Gatto, a partner in the firm's Litigation practice group, co-authored, "Tech Topics | Key Takeaways from NYSBA Questionnaire Report on Virtual Procedures," which was published in the New York State Bar Association's Commercial and Federal Litigation Section Newsletter. Danielle talks about whether lawyers and the Court actually like virtual procedures when it comes to practicing law. Read the full article here: https://lnkd.in/eRxsA59Z #FirmAdvantage #Litigation #NewYorkStateBarAssociation

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#Newark Partner Alex Raybould, Associate Liz Driscoll, and Partner Malinda Miller recently secured the dismissal of several companies from a slip-and-fall case through a multi-pronged #litigation plan. This new #ClientAlert conducts a deep dive into how the team obtained this favorable result and illuminates some key takeaways from their experience, including the important role corporate counsel play in developing a litigation strategy. Read the full alert on our website. #DefenseAttorneys #GeneralLiability #LegalProfession

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Adam Shlahet, a jury expert and professor at Fordham Law School, explains that this process is about eliminating jurors who may negatively impact your case. 📊 As detailed in a recent NPR discussion featuring the infamous cases of O.J. Simpson, Derek Chauvin, and the upcoming trial of Donald Trump, the goal is to form a jury that can objectively weigh evidence, irrespective of their personal views on the defendant. This complexity is echoed by attorney Camille Vasquez, who leveraged jury consultants to pinpoint ideal jurors during Johnny Depp's defamation trial. The approach? To mix diverse personalities—leaders and followers—to form a balanced jury. Identifying potential biases, especially in politically charged cases like Trump's, is paramount. Here at JuryAnalyst, we empower lawyers with advanced analytics and insights, aiding in the meticulous process of jury selection. Understanding the subtleties of each potential juror's background and predispositions is essential, and our tools are designed to provide that depth of analysis, ensuring lawyers can strategically build their case with the best possible jury. 👨⚖️👩⚖️ #JurySelection #LegalTech #TrialLawyers

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In addition to the federal estate tax, which may be levied upon a decedent’s estate, New York imposes a separate STATE estate tax regime. In our latest Future Wealth Navigator post, my colleague Andrew M. Nerney examines how this law has evolved into the New York estate tax “cliff” and ways to plan for it. #NewYork #estatetax #estateplanning #estatelaw

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Secondaries financing: Key considerations for debt in LP-leds and GP-leds. Law firm Proskauer Rose LLP writes that the use of debt finance is an increasingly important component of secondary transactions, whether for traditional private equity secondary funds acquiring interests in underlying funds or for fund managers facilitating GP-led transactions. #Secondaries #Secondary #SecondaryMarket #AlternativeInvestments #PrivateMarkets https://lnkd.in/eumAiVAt

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In mid-April 2024, New York adopted legislation relating to the use of artificial intelligence (AI) in political communications. Recent technological advancements and broadening access to AI have been impacting New York elections, with voters sometimes struggling to decipher between original and AI-generated material. 🤖 🔗 Read more in this #GTAlert written by Josh Oppenheimer and Cathryn Crummey: https://buff.ly/3WorTWs. #ArtificialIntelligence #AI #PoliticalLaw #NYLaw #Elections

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Partners Brooks Allen, Pascal Bine, Brian Egan, Matthias Horbach, Akira Kumaki (Kumaki, Akira) and Michael Leiter, counsel Nicholas J. Colombo, Tatsuya Hasegawa and Jason Hewitt, and associates Kathryn Gamble, Wesley Lainé, Jim Perry, Crispin Smith (Crispin S.) and Dr. Jermaine Washington discuss the increase in the number of FDI regimes over the past decade and provide examples of how FDI regimes in some key jurisdictions treat reorganizations or spin-offs. #spinoffs #foreigndirectinvestment #reorganization #restructuring

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