Wake Up Call: Goodwin Procter Names First Global M&A Chair

Nov. 26, 2019, 1:15 PM
  • Goodwin Procter said vice chairman Stuart Cable will be its global chair of mergers & acquisitions, a newly created role in which Cable will focus on expanding the range and scope of its M&A and corporate governance work, while broadening its client base. (GoodwinLaw.com) Cable, who’s based in Boston, told American Lawyer he will be concentrating on technology, life sciences, and real estate, which Goodwin considers its M&A strengths. (American Lawyer)

  • Meanwhile, U.K. elite firm Freshfields Bruckhaus Deringer named global M&A co-chairman Matthew Herman, who is based in New York, to be its new U.S. managing partner. (American Lawyer)

  • Law firm revenue grew 6.3% overall in 2019’s first nine months, which is very good but not as good as last year’s record performance. That’s according to a new report from Wells Fargo Legal Specialty Group that roughly agrees with observations in a report by Citi Private Bank’s Law Firm Group earlier this month. (American Lawyer)

  • After years of financial declines, Pittsburgh-headquartered K&L Gates has been hit by dozens of partner exits this year, a report says. (Legal Intelligencer)

  • Several Big Law firms advised on a deal by private equity firm Carlyle Group LP and a Japanese insurer to acquire a chunk of an insurance unit owned by American International Group Inc., which was advised by Willkie, Farr & Gallagher. Carlyle, advised by Debevoise & Plimpton, and T&D Holdings Inc., parent company of one of Japan’s biggest life insurers and advised by King & Spalding and Appleby, agreed to buy 76.6% of AIG’s Fortitude Group Holdings for about $1.8 billion. Fortitude was advised by Sidley Austin. (BN)

  • McDonald’s Corp., represented by Jones Day, agreed to pay $26 million to settle a wage-and-hour class action filed by 38,000-plus cooks and cashiers at corporate-owned restaurants in California. Employee advocates called the settlement the highest ever against McDonald’s for alleged wage violations in the U.S. (BLAW)

  • The three plaintiffs firms representing McDonald’s workers—Altshuler Berzon, Cohen, Milstein, Sellers & Toll and Matern Law Group—are asking for $10.1 million in legal fees and expenses. (The Recorder)

  • Johnny Depp has settled his $350,000 fee dispute with one of his former law firms, according to a report. The firm, Buckley, which until recently went by Buckley Sandler, played a key part in getting Depp’s recent “eight figure” settlement, in the actor’s favor, with another former lawyer. (Variety)

Lawyers, Law Firms

  • Agios Pharmaceuticals Inc., a clinical-stage biopharmaceutical company, hired former Celgene Corp. top lawyer Jonathan Biller as its chief legal officer. The hire comes about a week after Bristol-Myers Squibb Co. wrapped up its $74 billion acquisition of Celgene. (BLAW via BLB)

  • Reformers within the American Bar Association want more state-led experiments to open up rules on who can own law firms and provide legal services. (BLAW via BLB)

  • U.K. headquartered global firm Herbert Smith Freehills started a digital law group that is made up of a permanent team of senior lawyers, supported by other attorneys from across the firm, and will put a particular focus on smart contracts. (Legaltech News)


  • Milbank advised Jaguar Land Rover Automotive as issuer in connection with its 500 million euro ($550.60 million) senior notes offering due 2024 and 300 million euro senior notes offering due 2026. (Milbank.com)

Laterals, Moves, In-house, Promotions

  • DLA Piper added patent litigator Soumitra “Sam” Deka as a partner in San Francisco in its intellectual property and technology practice. Deka, who focuses on life sciences and technology industries, joins from Arnold & Porter Kaye Scholer. (DLAPiper.com)

  • Saul Ewing Arnstein & Lehr said management-side worklaw litigator Anna María Tejada is joining the firm in Newark, New Jersey, as a partner. She was previously at Kaufman Dolowich & Voluck, where she was a partner and head of the New Jersey labor and employment group. (Saul.com)

  • Carlton Fields hired commercial and insurance litigator Chael J. Clark as an associate in New York in the firm’s property & casualty insurance practice. He was previously at Allen & Overy. (CarltonFields.com)

  • Seven intellectual property and FDA attorneys left Porzio, Bromberg & Newman, including six from Porzio’s Washington office, bound for Arnall Golden Gregory. The group is led by three partners who helped Porzio start a DC office in 2014, after leaving Squire Patton Boggs. (National Law Journal)

Legal Actions, Bankruptcies, Decisions

  • A Delaware judge ordered CBS Corp. officials to turn over some files about its $11.7 billion merger with Viacom Inc. to an investor. The Pennsylvania pension fund wants to probe whether “potential wrongdoing” by controlling shareholder Shari Redstone tainted the deal. Simpson Thacher & Bartlett and others are representing CBS. (BN via BLAW)

  • Standard Chartered PLC and Societe Generale SA will pay a combined $2.7 million to resolve a lawsuit in Manhattan federal court claiming they participated in a global conspiracy to rig foreign currency exchange rates. Standard Charter is represented by Sidley Austin. SocGen is represented by Linklaters. (BLAW)


  • A former marketing director at Morgan Lewis & Bockius offered tips for lawyers using LinkedIn. (Legal Intelligencer)

Legal Education

  • “My Mom, the Lawyer,” a new book by Louisville, Kentucky-based intellectual property and litigation partner at Wyatt Tarrant & Combs, Michelle Browning Coughlin, is aimed at helping children understand what their lawyer moms do for a living. (ButlerBooks.com)

To contact the correspondent on this story: Rick Mitchell in Paris at rMitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Rebekah Mintzer at rmintzer@bloomberglaw.com; Darren Bowman at dbowman@bloomberglaw.com

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