The good times are rolling again for New York's elite law firms.
Kaye Scholer's financial performance took a remarkable beating in its last year as an independent law firm. But managing partner Michael Solow called the 2016 declines a natural result of strategic pruning ahead of the firm's merger with Arnold & Porter at year's end.
Federal prosecutors in Brooklyn said the fraud charges faced by ex-pharmaceutical executive Martin Shkreli and his former outside counsel, Evan Greebel, are "inextricably intertwined" and are urging a judge to keep their trial joined.
Richard Nugent, a longtime tax partner at Cadwalader, Wickersham & Taft, has left to join Jones Day in New York as a partner.
Bill Thompson, New York City's former comptroller and a two-time mayoral candidate, is embroiled in litigation with New York's Stroock & Stroock & Lavan and New Jersey's Genova Burns over legal fee debts from his 2009 campaign.
Former Katten partner Evan Greebel and ex-pharma CEO Martin Shkreli are continuing to square off before their upcoming fraud trial.
Equity partner profits jumped by nearly 20 percent last year, as the firm posted revenue growth across several practices while also cutting back its equity partner ranks.
In a rare loss for Cravath, Swaine & Moore, a partner is leaving the firm to join Levine Lee, a prominent litigation boutique formed six years ago by former Cravath lawyers.
The year is already shaping up to be a busy one for Big Law combinations.
A Manhattan criminal defense boutique facing two lawsuits by ex-partners is working toward finalizing a settlement in one, but continues to face heated allegations in the other.