Hi, everyone!  It's been a long time, but the Judge is back.

This week, some of the biggest news was made by big firm Cadwalader, Wickersham & Taft, as they <a xhref="http://www.law.com/jsp/law/careercenter/lawArticleCareerCenter.jsp?id=1200021922205">laid off 35 attorneys</a> in their capital markets and global finance markets.  This move caused widespread <a xhref="http://www.pheedo.com/click.phdo?i=1a8b5019f6b71815de35b4f7f2f95cf7">coverage</a> and <a xhref="http://blogs.wsj.com/law/2008/01/11/more-on-the-sackings-at-cadwalader/">commentary</a> in the blawgosphere over the <a xhref="http://www.bmacewen.com/blog/archives/2008/01/the_upcoming_banana.html">impact</a>
 and possible portends this move by one of the big firms may have.  There's no question, it's rough for the financial types right now-- better watch your back.
 
On the bright side, Bankruptcy and restructuring attorneys are <a xhref="http://www.portfolio.com/views/blogs/daily-brief/2008/01/11/whos-benefiting-from-subprime-meltdown">smiling</a> from the increase in potential work if a recession hits.

Moving to corporate and securities law, The US Supreme Court decided one of it's biggest cases in years this past Tuesday, January 14th.  In <em><a xhref="http://www.scotusblog.com/wp/wp-content/uploads/2008/01/06-43.pdf">Stoneridge Investment Partners v. Scientific-Atlanta</a></em>, the Supreme's ruled that <a xhref="http://www.scotusblog.com/wp/uncategorized/court-limits-securities-fraud-law/">investors cannot sue</a> third party businesses for their participation in a "scheme" with public companies to inflate their price.  
 
  What's it all mean?  Two ways to look at it.  It's clear business won--many security fraud lawsuits are toast.  That may well be a boon for them (especially as it limits contracting party risks, thus lowering the costs of business).  But it also means the heyday of multi-billion security fraud lawsuits may soon have a much tougher road to hoe.  In short: good news for the business sector, bad news for the plaintiff's bar. 
 
Lastly, don't try this at home (or in the firm!)  Don't be like the Miami firm who's two investigators <a xhref="http://www.pointoflaw.com/archives/004661.php">paid a Royal Caribbean</a> Cruises employee to get inside info on the range of possible settlement amounts.  It won't turn out well, and might disqualify <a xhref="http://www.law.com/jsp/article.jsp?id=1200418108210">your firm</a>
 from representing a bunch of clients.  Which hurts.
 
 Thanks, and see you soon!