AFTERNOON UPDATE States, Private Plaintiffs Press Suit Against Wall Street Reform LawThe states and private plaintiffs that are challenging the constitutionality of the Wall Street reform law and the leadership of the Obama administration's new consumer protection agency are fighting to keep alive a suit in Washington federal district court. Grassley Targets DOJ for Use of Gulfstream JetsThe Department of Justice is catching criticism from a Republican senator for how it has used two Federal Bureau of Investigation jets for executive travel.
D.C. Courts: Sequestration Won't Cause Layoffs, FurloughsIf Congress fails to reach an agreement by March 1 to avoid $85 billion in automatic budget cuts known as sequestration, the District of Columbia's local courts system could have to find $14 million in savings from its fiscal year 2013 budget. Court officials don't expect layoffs or furloughs, but declined to release details on how they would make the required cuts. Senate Committee Approves Three District Court NomineesThe Senate Judiciary Committee approved Thursday three judicial nominees for district courts in New York, California and Louisiana, as well as the nominee to become chairman of the Privacy and Civil Liberties Oversight Board.
In 2012, Dickstein Shapiro's Gross Revenue Dipped, but Net Income GrewOn paper, Dickstein Shapiro's fiscal year 2012 financial metrics represented a big change from 2011. Whereas gross revenue held steady in 2011, last year it dipped 3.2 percent to $258.5 million. But revenue per lawyer, profits per partner and net income all showed strong growth. Revenue per lawyer climbed 7.7 percent to $840,000 and profits per partner increased 3.8 percent to $950,000. Net income had the largest gain of any metric category, jumping 8.9 percent to $55 million. SUPREME COURTGabelli v. Securities and Exchange CommissionTime for SEC to bring enforcement actions alleging violations of Investment Advisers Act begins running when fraud occurs, not when it is discovered (Roberts, C.J.) | Get the BLT on your iPhone or iPod Touch. Available now in the App Store. If you have Twitter account, you can now follow NLJ Editor in Chief David L. Brown at twitter.com/davidlbrownjr. Follow him for links to key stories and updates from the NLJ newsroom. You can also track news on Twitter from the NLJ's Washington bureau at twitter.com/legal_times. | |||||||
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