Latham & Watkins: Difference between revisions
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*[[Sean Berkowitz]] - Federal prosecutor in the trials of [[Enron]] executives [[Ken Lay]] and [[Jeffrey Skilling]]. |
*[[Sean Berkowitz]] - Federal prosecutor in the trials of [[Enron]] executives [[Ken Lay]] and [[Jeffrey Skilling]]. |
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*[[Kirk Davenport II]] - [[High-yield debt]] attorney. |
*[[Kirk Davenport II]] - [[High-yield debt]] attorney. |
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*David Gordon - Managing partner of the struggling New York office which recently laid-off 40% of Associates with a |
*David Gordon - Managing partner of the struggling New York office which recently laid-off 40% of Associates with a days notice. According to Dave Gordon, the New York office is "well diversified." |
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Bill Voge - [[project finance]] attorney. |
Bill Voge - [[project finance]] attorney. |
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*[[John Kirby (attorney)|John Kirby]] - [[Intellectual property]] attorney, in honor of whom [[Nintendo]] named its "[[Kirby (Nintendo)|Kirby]]" character after a series of high-profile cases |
*[[John Kirby (attorney)|John Kirby]] - [[Intellectual property]] attorney, in honor of whom [[Nintendo]] named its "[[Kirby (Nintendo)|Kirby]]" character after a series of high-profile cases |
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Revision as of 09:47, 16 May 2009
Latham & Watkins LLP Latham & Watkins LLP recently gained notoriety in the legal world by performing massive layoffs. [2] In 2008, as Latham faced a slow down in work, it promised Associates that the firm would not lay them off because it had earned so much money the previous year thanks to their hard work. [3] In December of 2008, Latham & Watkins shocked the world by becoming the first major law firm to freeze Associate salaries. Latham management said this move was designed to prevent the need for layoffs. [4] However, less than three months later in February 2009, Latham conducted one of the largest layoffs in law firm history; cutting 190 Associates and 250 staff members. Latham essentially gave the Asssociates no notice, telling them on Friday that they had to be out by Sunday. The layoffs were particularly focused on Associates in the New York office, where Latham cut 90 Associates. The New York first years were hit particularly hard, with Latham laying off half the first year class in New York. However, Latham also laid-off a lot of first years in Los Angeles, where it cut approximately one third of its first year Associates. [[5]] Latham also made Vault surveys due the day before the massive layoffs. Many have critized this move as an attempt by Latham to prevent these unprecedented massive layoffs from affecting the firm's Vault ranking.
Recognition
Latham has recently been in the news for its financial difficulties, prompting employee layoffs for which it has been sharply criticized. Given Latham's heavy reliance on transactional work for its revenues, it saw major declines in 2008. In 2008, revenue fell by $100,000,000, approximately 4%.[1] Profits per partner fell by 21%.[2]
This prompted management to freeze associate salaries in December 2008, a move designed to prevent the need for layoffs.[3] But on February 27, 2009, Latham engaged in significant layoffs, announcing that it was laying off 190 associates, and 250 staff members.[4] This is one of the largest layoffs by any major law firm in history.
The February layoffs were particularly focused on first year associates in the New York office, where Latham laid-off more than half the first year class. From all class years, Latham New York laid-off 90 associates in February. Combined with the January layoffs in New York, a total of 130 associates were cut from the New York office in 2009. That number represents 45% of associates in New York. This move followed a "no layoffs" promise in 2008.[5]
Additionally, Latham made Vault surveys due on February 26, 2009, the day before the February 27, 2009 mass layoffs, in what some have criticized as an attempt to prevent the enormous layoffs from influencing their Vault ranking.
Notable clients and cases
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (April 2008) |
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- Represented Metro-Goldwyn-Mayer Inc. in its $4.84 billion sale to the Sony Corporation in cooperation with Providence Equity Partners Inc, Texas Pacific Group Inc, DLJ Merchant Banking Partners and Comcast Corporation (Sept. 2004).
- Advised Bayer AG in its successful 2006 €16.4 billion takeover offer for Schering AG pharmaceuticals.
- Legal counsel to bookrunners and arrangers Deutsche Bank Securities Inc, Goldman Sachs International and Merrill Lynch International in $2 billion Rule 144A/Regulation S notes offer for ICICI Bank Ltd, through its Bahrain branch (Oct. 2007).
Notable Latham & Watkins attorneys
| This section needs additional citations for verification. (October 2008) |
- Sean Berkowitz - Federal prosecutor in the trials of Enron executives Ken Lay and Jeffrey Skilling.
- Kirk Davenport II - High-yield debt attorney.
- David Gordon - Managing partner of the struggling New York office which recently laid-off 40% of Associates with a days notice. According to Dave Gordon, the New York office is "well diversified."
Bill Voge - project finance attorney.
- John Kirby - Intellectual property attorney, in honor of whom Nintendo named its "Kirby" character after a series of high-profile cases
- Maureen Mahoney - Former Deputy Solicitor General in 1991, represented the University of Michigan before the U.S. Supreme Court in Grutter v. Bollinger
- Philip Perry, was Dept. of Homeland Security[6] General Counsel, now a partner in the litigation department and chair of the Public Policy practice group. He is married to Elizabeth Cheney, attorney, diplomat and daughter of Vice President Dick Cheney.
- David J. Schindler – convicted famous hackers Justin Tanner Petersen, Kevin Mitnick (aka Condor), and Kevin Poulsen (aka Dark Dante)[7], represented the notable Church of Scientology in the Reed Slatkin Ponzi scheme[8], signed hand-delivered letters on Latham & Watkins stationary to anonymous protesters tracked down by the Church of Scientology, demanding cessation of unspecified "illegal activities against the church".[9][10]
- Joshua Stein- One of the leading writers on commercial real estate law in the US as well as a leading practitioner. Editor of the website Real-Estate-Law.com [6].
- Margaret Zwisler- One of the leading anti-trust lawyers in the United States.
Offices
Latham currently has 1,900 attorneys throughout its offices in: Abu Dhabi, Barcelona, Brussels, Chicago, Dubai, Doha, Frankfurt, Hamburg, Hong Kong, London, Los Angeles, Madrid, Milan, Moscow, Munich, Newark, New Jersey, New York City, Costa Mesa, California, Paris, San Diego, San Francisco, Shanghai, Silicon Valley(Menlo Park), Singapore, Tokyo and Washington D.C.
Notable Latham & Watkins alumni
- Bruce Babbitt, former Governor of Arizona and U.S. Secretary of the Interior
- Michael Chertoff, former U.S. Secretary of Homeland Security
- Chris Cox, former SEC Chair
- Samuel Fishman, convicted on mail fraud case. [11]
- Fred T. Goldberg, Jr. former Partner and Commissioner of Internal Revenue at the IRS
- Carla Anderson Hills, former U.S. Trade Representative and HUD Secretary
- Roderick M. Hills, former SEC Chair
- Reed Hundt, former FCC Chair
- Dana Latham, Commissioner of Internal Revenue from 1958-1961
- Bill Wehrum, acting Assistant Administrator, Office of Air & Radiation United States Environmental Protection Agency
- James J. White, Robert A. Sullivan Professor of Law at the University of Michigan Law School and author of a treatise on the Uniform Commercial Code (with Summers).
- Beth Wilkinson - Prosecutor in the Oklahoma City bombing case.
References
- ^ http://www.abovethelaw.com/2009/03/2008_revenue_numbers.php
- ^ http://abovethelaw.com/2009/02/latham_watkins_profits_per_par.php
- ^ http://abovethelaw.com/2008/12/latham_watkins_salary_freeze.php
- ^ http://www.abovethelaw.com/2009/02/latham_lays_off_440.php
- ^ http://abovethelaw.com/2009/02/nationwide_layoff_watch_latham_1.php
- ^ [1]
- ^ Bowman, Lisa (1999 October 3). "Schindler heads toward life post-Mitnick". ZD Net. Retrieved 2008 April 24.
{{cite news}}: Check date values in:|accessdate=and|date=(help); Cite has empty unknown parameter:|coauthors=(help) - ^ Reckard, Scott (2006 November 8). "Scientology groups to pay back $3.5 million". Los Angeles Times. Retrieved 2008 April 24.
{{cite news}}: Check date values in:|accessdate=and|date=(help); Cite has empty unknown parameter:|coauthors=(help) - ^ Gray, Tyler (2008-03-31). "Anonymous on Trial? Scientology Steps Up Skirmish". Radar. Retrieved 2008-12-16.
- ^ Lat, David (2008-04-01). "Latham & Watkins to Free Stress Tests?". Above the Law. Retrieved 2008-12-16.
- ^ Heller, Jamie (2008 March 28). "Lawyer Pleas in Case Charging that He Bilked Firm and Clients". Wall Street Journal. Retrieved 2008 April 18.
{{cite news}}: Check date values in:|accessdate=and|date=(help); Cite has empty unknown parameter:|coauthors=(help)