Latest news with #BloombergLaw
Newsweek
24-05-2025
- Business
- Newsweek
Top Democratic Lawyer, 3 Others Leave Paul Weiss To Start New Firm: Reports
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Months after Paul Weiss reached a settlement with the Trump administration, four senior partners at the firm are leaving to start their own practice, according to The New York Times and Bloomberg Law. Why It Matters The partners' exit comes several months after Paul Weiss settled with the Trump administration to avoid having to face the consequences—legal or otherwise—of Trump's March executive order terminating all federal government contracts with the firm and revoking the security clearances of its lawyers. Trump's executive order targeting the firm specified that it was being singled out because one of its lawyers, Mark Pomerantz, investigated Trump's business dealings when he was in the Manhattan district attorney's office. Demonstrators outside the law offices of Paul Weiss in New York on Tuesday, April 22, 2025, are protesting the firm's agreement to do free legal services for the Trump administration. Demonstrators outside the law offices of Paul Weiss in New York on Tuesday, April 22, 2025, are protesting the firm's agreement to do free legal services for the Trump administration. Ted Shaffrey/AP What To Know One of the four partners leaving is Karen Dunn, a top Democratic lawyer who helped then Vice President Kamala Harris and former Secretary of State Hillary Clinton with debate preparation during their presidential campaigns, according to The New York Times. Dunn also spearheaded a multi-million dollar lawsuit against the organizers of the far-right "Unite The Right" protest in Charlottesville, Virginia in 2017, Bloomberg reported. Another partner exiting Paul Weiss is Jeannie Rhee, who worked as a prosecutor on the special counsel Robert Mueller's team, which investigated Russia's interference in the 2016 election and whether the Trump campaign conspired with the Russian government in its efforts. The other two partners leaving the firm are Bill Isaacson, a well-known antitrust lawyer, and Jessica Phillips, who once clerked for Supreme Court Justice Samuel Alito, The Times reported. Paul Weiss came under fire after it settled with Trump to sidestep fighting his March executive order. As part of the arrangement, the firm agreed to scrap its diversity, equity and inclusion (DEI) policies, as well as provide $40 million worth of pro bono services to support Trump's agenda. Trump subsequently rescinded his executive order. In the wake of the settlement, Paul Weiss faced a firestorm of criticism and the head of the firm's pro bono arm, Steven Banks, resigned. More than 170 alumni of the firm also signed an open letter to the firm's chairman, Brad Karp, calling the decision to settle "cowardly" and adding that "the very independence of lawyers and the legal profession is at stake." In total, the nine major law firms that settled with the Trump administration have agreed to provide about $1 billion in legal work, according to Bloomberg. What People Are Saying Dunn, Rhee, Isaacson and Phillips said in an email to the firm on Friday both Bloomberg and The Times reported: "We were disappointed not to be able to tell each of you personally and individually the news that we have decided to leave Paul, Weiss to start a new law firm." Brad Karp, the chairman of the firm, told The Times in a statement: "We are grateful to Bill, Jeannie, Jessica and Karen for their many contributions to the firm. We wish them well in their future endeavors." Neera Tanden, a prominent Democratic activist, wrote on X (formerly Twitter): "Proud of these legal leaders. They are putting principle first. Hope all lawyers at Paul Weiss of conviction join them." Jason Kint, a digital media veteran and the CEO of Digital Content Next, wrote on X: "Wow. Paul Weiss just lost the top attorneys representing Google in its adtech antitrust case just as remedies are getting underway. It will be interesting to see how Google handles this since this is fallout for the law firm being first to do a Trump deal." What Happens Next At least three law firms—Perkins Coie, WilmerHale and Jenner & Block—have fought Trump's executive orders in court. On Friday, a federal judge appointed by George W. Bush blocked Trump's order targeting Jenner & Block after finding that it violated the Constitution.
Yahoo
20-05-2025
- Business
- Yahoo
Morgan Stanley Upgrades Price Target for Prudential Financial, Inc. (PRU) on Cat Bond Surge and Clean Energy Deal
Morgan Stanley analyst Nigel Dally upgraded the price target for Prudential Financial, Inc. (NYSE:PRU) from $108 to $117 on May 19, 2025. A financial advisor is sitting with a customer in a living room discussing their financial future. On May 15, 2025, Hedge Fund Fermat Capital Management forecasted in Bloomberg Law a 20% growth in the market for catastrophe bonds before the end of 2025. Subsequently, the outlook for financial companies dealing with insurance packages went up. One of the chief beneficiaries was Prudential Financial, Inc. (NYSE:PRU). On the same day, PGIM Private Capital, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE:PRU), entered into a $175 million long-term partnership with Solar Landscape, one of the U.S.'s leading commercial rooftop developers. The partnership aims to financially support the increasing portfolio of Solar Landscape's projects, which feed electricity directly into the distributed grid. The company primarily intends to cover Maryland and Illinois. Following these announcements, the company's insider transactions also went up. Notably, the company's directors including Scovanner Douglas A, Poon Christine A, Todman Michael increased their stakes in the company, bringing the insider transaction to 476.22%. Prudential Financial, Inc. (NYSE: PRU), headquartered in New Jersey, has been serving clients for over 149 years since its founding in 1875. Backed by strong growth potential and a stable core performance, Morgan Stanley anticipates Prudential Financial's recovery in the second half of 2025. While we acknowledge the potential of PRU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRU and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
DOJ lawyer has no idea if Trump has written agreements with Big Law firms beyond his Truth Social posts
A DOJ lawyer says he doesn't know anything about written agreements between Trump and Big Law firms. Nine firms reached deals with Trump, which he announced on Truth Social. The posts are light on details and don't explain how the deals would be enforced. A Justice Department lawyer said in federal court Thursday that he didn't know if President Donald Trump had written agreements with Big Law firms beyond what he has shared online. "I know of nothing beyond the generally publicly available information," Richard Lawson said when US District Judge Loren AliKhan asked him about any written agreements. Despite representing the Trump administration in court, Lawson said he didn't know about anything written down beyond "press releases" about the deals. "I know of no other documents than that," he said. "That's not saying there isn't any, but I know of no other." Nine Big Law firms have made deals with Trump, pledging a total of nearly $1 billion in pro bono hours toward his political priorities. At the same time, the firms avoided executive orders targeting them. Thursday's hearing, in a Washington, DC, federal court, was over a lawsuit brought by Susman Godfrey, one of four law firms on the receiving end of Trump's harsh executive orders. Trump issued an executive order in April that would have stripped Susman Godfrey attorneys of security clearances, cut the firm off from government contracts, and potentially barred lawyers from courthouses, post offices, and other government buildings. AliKhan quickly issued a temporary restraining order blocking the implementation of Trump's command, and weighed Thursday whether she would permanently block them. For the nine firms that did come to agreements with Trump, the terms appear to be vague. Trump's Truth Social posts announcing each deal are only about 400 words long. They do not specify time horizons for pro bono donations, making it unclear how much work the firms will contribute during the remainder of Trump's term. And they do not include any details about reporting requirements for the promises firms made over diverse hiring practices. Bloomberg Law reported earlier in May on copies of written agreements between the White House and four law firms: Kirkland & Ellis, Latham & Watkins, Simpson Thacher & Bartlett, and A&O Shearman. Those written agreements do not include any specific details on how they would comply with the deals, according to the outlet. The four firms also struck deals with the US Equal Employment Opportunity Commission, whose chairman sent letters to 20 law firms inquiring about their diversity practices. Outside counsel for the four firms said they would submit "a confidential written certification" every four months through the end of Trump's term, according to Bloomberg Law. When asked about the written agreements, an EEOC spokesperson told Business Insider, "We don't have anything for you on this." Neither the White House nor the nine law firms that made deals with Trump have offered up any information about potential underlying agreements. Representatives for the White House did not respond to requests for comment about the deals. None of the nine firms that struck deals responded to requests for comment about written agreements with Trump. Read the original article on Business Insider
Business Insider
09-05-2025
- Business
- Business Insider
DOJ lawyer has no idea if Trump has written agreements with Big Law firms beyond his Truth Social posts
A Justice Department lawyer said in federal court Thursday that he didn't know if President Donald Trump had written agreements with Big Law firms beyond what he has shared online. "I know of nothing beyond the generally publicly available information," Richard Lawson said when US District Judge Loren AliKhan asked him about any written agreements. Despite representing the Trump administration in court, Lawson said he didn't know about anything written down beyond "press releases" about the deals. "I know of no other documents than that," he said. "That's not saying there isn't any, but I know of no other." Nine Big Law firms have made deals with Trump, pledging a total of nearly $1 billion in pro bono hours toward his political priorities. At the same time, the firms avoided executive orders targeting them. Thursday's hearing, in a Washington, DC, federal court, was over a lawsuit brought by Susman Godfrey, one of four law firms on the receiving end of Trump's harsh executive orders. Trump issued an executive order in April that would have stripped Susman Godfrey attorneys of security clearances, cut the firm off from government contracts, and potentially barred lawyers from courthouses, post offices, and other government buildings. AliKhan quickly issued a temporary restraining order blocking the implementation of Trump's command, and weighed Thursday whether she would permanently block them. For the nine firms that did come to agreements with Trump, the terms appear to be vague. Trump's Truth Social posts announcing each deal are only about 400 words long. They do not specify time horizons for pro bono donations, making it unclear how much work the firms will contribute during the remainder of Trump's term. And they do not include any details about reporting requirements for the promises firms made over diverse hiring practices. Bloomberg Law reported earlier in May on copies of written agreements between the White House and four law firms: Kirkland & Ellis, Latham & Watkins, Simpson Thacher & Bartlett, and A&O Shearman. Those written agreements do not include any specific details on how they would comply with the deals, according to the outlet. The four firms also struck deals with the US Equal Employment Opportunity Commission, whose chairman sent letters to 20 law firms inquiring about their diversity practices. Outside counsel for the four firms said they would submit "a confidential written certification" every four months through the end of Trump's term, according to Bloomberg Law. When asked about the written agreements, an EEOC spokesperson told Business Insider, "We don't have anything for you on this." Neither the White House nor the nine law firms that made deals with Trump have offered up any information about potential underlying agreements. Representatives for the White House did not respond to requests for comment about the deals. None of the nine firms that struck deals responded to requests for comment about written agreements with Trump.
Malaysian Reserve
01-05-2025
- Business
- Malaysian Reserve
Bloomberg Law Features Innovative Tools for Legal Operations Pros at CLOC
ARLINGTON, Va., May 1, 2025 /PRNewswire/ — Bloomberg Law has announced that it will highlight its robust research and innovative tools tailored for legal operations professionals at the 2025 CLOC Global Institute, happening May 5-8 in Las Vegas. As a gold sponsor of the event, Bloomberg Law (Booth #310) will demonstrate how its platform empowers legal teams to optimize processes, increase efficiency, and drive impactful results. Designed with legal operations professionals in mind, Bloomberg Law's platform offers a comprehensive suite of resources, including case law, statutes, regulations, and expertly curated legal analyses. These tools are specifically created to simplify complex legal workflows, deliver actionable insights, and help organizations achieve operational excellence. Bloomberg Law will highlight: An expansive Practical Guidance library of more than 8,600 documents organized by practice area and resource type, including the new Confidentiality Agreements & NDAs Toolkit, Supply Chain Toolkit, New York Discovery, Proxy Season Toolkit, EU AI Act, and AI in Corporate Transactions. Newly added In Focus pages designed to provide legal operations professions with a rapid and efficient means to evaluate and track emerging issues and topics including Investor Activism, Employee Speech & Political Activity, Executive Orders, and Contract Drafting, AI powered legal intelligence solutions, including newly released tools such as Complaint Summaries, Clause Adviser, Bloomberg Law Answers, and AI Assistant that exemplify Bloomberg Law's ongoing commitment to leveraging AI to deliver unmatched efficiency and value to legal professionals. These tools are designed to help attorneys streamline analysis, enhance accuracy, and reduce time spent on routine tasks. A new Executive Orders & Related Developments Tracker that provides an integrated resource to track developments related to the President Trump's executive actions. The tracker gathers the most important information from executive orders published since January 20, 2025, as well as high-impact executive memoranda, proclamations and agency actions, and resulting litigation, allowing Bloomberg Law customers to stay up to date on the status of executive orders Bloomberg Law Dockets: Comprehensive coverage spans federal courts and more than 1,500 state courts, enabling users to track litigation filings, analyze historical performance data, identify emerging practice opportunities, and research client litigation history and opposing counsel strategies. Intelligent legal document drafting tools, including AI-powered document drafting tools that empower transactional attorneys to deliver faster, more favorable contract outcomes directly in MS Word, the tool they already use every day. Bloomberg Law Contract Solutions empowers legal teams to work more efficiently by seamlessly incorporating AI-driven productivity tools into their established workflows, streamlining the drafting, negotiation, and review of contracts. 'Bloomberg Law is thrilled to engage with the legal operations community at CLOC and demonstrate how our innovative solutions empower legal professionals to address real-world challenges with confidence,' said Bobby Puglia, chief product officer, Bloomberg Industry Group. 'Our platform delivers cutting-edge technology and comprehensive resources that streamline workflows, enhance efficiency, and reduce reliance on outside counsel. By equipping the legal operations community with transparent, trustworthy, and regularly updated solutions, we are proud to support professionals in ensuring compliance and tackling evolving legal complexities.' For more information about Bloomberg Law, please visit About Bloomberg LawBloomberg Law combines the latest in legal technology with workflow tools, comprehensive primary and secondary sources, trusted news, expert analysis, and business intelligence. For more than a decade, Bloomberg Law has been a trailblazer in its application of AI and machine learning. Bloomberg Law's deep expertise and commitment to innovation provide a competitive edge to help improve attorney productivity and efficiency. For more information, visit Bloomberg Law.
