Media Monitor
September 11, 2014

Corporate Counsel









  • Lifeboat lawyers: That is the idea behind the “lifeboat lawyer,” a term of endearment used by former Wal-Mart general counsel Thomas Mars. (IC, 9.9)




  • Ray Rice and the NFL's Compliance Fumbles: Transparency and consistent enforcement are hallmarks of an effective disciplinary program. That has not been the case in the NFL, and that is bad for business. (CC, 9.10)






  • Who Represents America's Biggest Companies 2013: In our annual survey of which law firms are being hired as outside counsel to the Fortune 500 companies, U.S. law departments struggle to find their footing and Europe's lawyers lead the way. (CC, 10.1)




  • An unbundle of joy: Not a week seems to go by without another firm revealing a low-cost centre, almost always to house document production and general support. This summer brought a whole host of announcements: if you blink, you might just miss them. (CC, 9.5)



Wall Street





Legal Education/Careers/Job Market



Law Firms/Lawyers/Corp Counsel


  • Law Firms Take On Exchanges over HFT: Three big law firms have joined to sue major U.S. stock exchanges, claiming the exchanges handed unfair advantages to high-frequency traders. (WSJ, 9.9)




Wall Street/PE

  • SEC Preps Fund Rules: The agency is preparing new rules to boost oversight of mutual funds, hedge funds and other firms as part of an effort to gain insight into whether the industry poses risks to the financial system. (WSJ, 9.9)


  • CFTC to Examine Swaps Loophole: The Commodity Futures Trading Commission plans to scrutinize U.S. banks that are shifting some trading operations overseas to avoid tough CFTC rules. (WSJ, 9.6)


  • Warren Faults Banking Regulators for Lack of Criminal Prosecutions: Lawmakers criticized the Federal Reserve and other government agencies for failing to hold individuals accountable for the actions that led to the financial crisis despite reaching record settlements with some of Wall Street’s biggest banks over mortgage misdeeds. (WSJ, 9.9)



  • S.E.C. Names First Ombudsman: The Securities and Exchange Commission has chosen Tracey L. McNeil, an agency veteran and former corporate lawyer, to “act as a liaison in resolving problems that retail investors may have” with the agency. (NYT, 9.5)




  • Bristol, Ono Sue Merck Over Cancer Drug: Bristol-Myers and Ono sued Merck, alleging that its new cancer drug, Keytruda, violates their patent on harnessing the body's immune system to fight cancer. (WSJ, 9.9)


  • Nvidia Sues Samsung and Qualcomm: Nvidia Corp. has sued Samsung Electronics Co. and Qualcomm Inc., alleging that certain Samsung phones and tablets are infringing Nvidia patents. (WSJ, 9.5)




  • EU Asks More of Google: European Union antitrust authorities are seeking fresh concessions from Google in their long-running probe of the Internet giant's search practices in Europe. (WSJ, 9.10)


  • Antitrust Hurdles Steep for Retailers: Family Dollar rejected an increased $9.1 billion takeover bid from Dollar General, again citing antitrust concerns and increasing the likelihood of a hostile approach. (WSJ, 9.6)


In Other Legal News

  • A Legal Test for Rx Labels: A new legal case will test generic-drug makers' liability over product labeling. At issue is how quickly those companies need to match changes in labeling that are made by equivalent brand-name medicines. (WSJ, 9.9)


  • Ruling May Spur BP to Settle: A federal judge's ruling that BP recklessly failed to heed warning signs ahead of the Deepwater Horizon disaster may ratchet up pressure on the oil giant to settle rather than face an up to $18 billion fine. (WSJ, 9.9)


  • AIG, Coventry Trade Charges in Suits: AIG alleges an 'egregious criminal scheme' that cheated the insurer out of more than $150 million. Coventry contends AIG fabricated allegations to escape contractual provisions that are favorable to Coventry. (WSJ, 9.6)


  • The Heated Litigation Over Arizona Iced Tea: As a business partnership soured, hot heads got in the way of a cold calculation: What is the value of Arizona Beverage Co., maker of the popular Arizona iced tea? A judge in New York will soon decide. (WSJ, 9.5)


General Innovation

  • For Apple CEO, Launch Is Biggest Test: After three years of closely guarding his strategy for Apple, CEO Tim Cook will show his hand, with an ambitious blitz of new products and services that aim to resolve questions about the company's ability to innovate. (WSJ, 9.10)


  • Peter Thiel's Contrarian Strategy: The tech financier and intellectual provocateur has some ideas that may turn you off. But there’s no arguing with his commercial achievements. That’s why Silicon Valley hangs on his words. (Fortune, 9.1)