London-based firm Atlantic Law has been slugged with a $400,000 ($652,000) fine for its role in an illegal share-fraud scheme, reports The Lawyer. The Financial Services and Markets Tribunal also banned founding partner Andrew Greystoke from working in financial services after hearing that he approved 50 UK investment advertisements from unregulated Spanish stockbroker firms.
Partners in UK firms are remaining positive despite the fact that a significant percentage of firms are set to reveal falling 2009/10 revenues, reports legalweek.com. Early indications suggest that most of the UK top 50 firms will see revenues remain stagnant, or marginally decreased, compared to 2008-09 in the aftermath of the financial crisis, but partners are adamant that this year ended better than expected.
Plaintiffs counsel in the case against Toyota could seek as much as $US7.35 billion ($8.2 billion) to compensate car owners for the diminished value of their cars due to problems with sudden and unintended acceleration, reports law.com. "I think we're blazing a new trail," said W. Daniel Miles III, partner at Beasley, Allen, Crow, Methvin, Portis & Miles. Miles III added that the Toyota cases are unique compared to many other consumer class actions.
Eversheds has announced it will soon be giving its graduate lawyers more opportunities to do stints abroad, reports The Lawyer. The firm plans to offer 10 secondments, ranging from three to six months, to numerous locations, including Paris, Hong Kong, Shanghai, South Africa and the Middle East. This is double the amount of placements ordinarily offered.
For the first time in more than 10 years, Deutsche Bank has appointed a new general counsel for its UK and Western Europe offices, reports legalweek.com. Emma Slatter is the successful appointee, most recently holding the position of head of legal for fixed income within the Bank's London-based global markets division. Slatter, who trained at Slaughter & May and joined Deutsche Bank subsidiary Morgan Grenfell in 1994, takes over the role from Simon Dodds.
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