Merger: K&L Gates and Bell, Boyd & Lloyd announced yesterday that they're in serious talks to merge by the first quarter of 2009. The union would create a 2,000 lawyer firm and give K&L Gates nearly 200 lawyers in Chicago, where it doesn't currently have an office. The Legal Intelligencer has more. The BLT has more on what the merger would mean for D.C.
Passing the Buck: The NYT reports that The Reserve Primary Fund is passing the cost of shareholder lawsuits onto the shareholders themselves. The investors are suing the money market fund, alleging mismanagement and deception. The fund is telling them that if they drop the suits, they may get back 98.5 cents for each dollar they had in the fund, but if they continue to sue, the company will use their money to defend itself.
Join the Club: Proskauer Rose is the latest firm to announce layoffs. Proskauer is letting go 25 staff and 35 lawyers, reports The American Lawyer. In recent weeks, Reed Smith, White & Case, and Orrick, Herrington & Sutcliffe, among others, have also cut back their rosters.
The Juice: O.J. Simpson faces sentencing today for kidnapping and armed robbery, reports the L.A. Times. Simpson was convicted Oct. 3 for robbing two sports memorabilia dealers in Las Vegas. He faces six years to life in prison.
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