Although John Davis won the steel case, he lost only two years later in one of the country`s most famous court decisions, Brown v. Board of Education of Topeka, Kansas. Davis represented South Carolina in Briggs v. Elliott, who was lumped in with others in the Brown case. Davis and other lawyers argued that the 1896 decision of Plessey v. Ferguson should be confirmed in favour of separate but equal schools. Led by lawyers such as Thurgood Marshall, the NAACP won this legal battle, which led to the desegregation of schools and was a major development in the postwar civil rights movement. Stetson brought some of its first most important clients to the fledgling partnership, including J.P. Morgan & Company, named after J. Pierpont Morgan, the famous banker and major businessman. In 1895, for example, Stetson went to the White House with Morgan to buy $65 million worth of bonds to help the federal government survive the depression that had begun in 1893. In 1901, he helped Morgan found the United States Steel Corporation, the country`s first billion-dollar company to survive as USX in the late 20th century.
Stetson also served Morgan in 1901 when he founded the Northern Securities Company, a railroad trust that was later split for violating the Sherman Antitrust Act of 1890. Stetson assisted J.P. Morgan & Company in several mergers. Four years later, the firm had 30 partners and 67 employees when Spencer Klaw published his Fortune article on Wall Street`s leading law firms. Klaw mentioned that Davis Polk, « sometimes known as the Tiffany of law firms, » was one of the so-called « white shoe » law firms where their lawyers « wore suede shoes that were part of the accepted uniform at some Eastern Preparatory Schools and Colleges. » Part of this law firm tradition was the hiring of mostly prominent young employees, who are registered in the social register. SSEK Law Firm has successfully taken action against the largest U.S. brokerage firms on behalf of investors. We have represented thousands of clients in the recovery of millions of dollars in damages. Call our qualified broker misconduct lawyers at (800) 259-9010 or contact us online to schedule your free, no-obligation case assessment. « If there`s anyone who`s not going to change and wants people to come to the office, it`s the big New York companies because they`re dinosaurs, » said Mercedes Meyer, intellectual property partner at Faegre Drinker Biddle in Washington. Meyer said she was speaking in her personal capacity.
« There are a lot of law firms that feel strong about the culture that creates a personal presence, » Hackett said. « They`re thinking about coming back, partly because that`s what they know, and that`s how they handle it and they`ve always had their success. » Nonetheless, banks like JP Morgan have expanded their in-house litigation and compliance capabilities — last year, former Sullivan & Cromwell litigator Stacey Friedman joined the legal team as general counsel for the corporate and investment banking division, and the bank is expected to quickly expand its compliance function. However, once surveys develop, they are often labor-intensive, and their « bank-breaking » character often means that only the best and most expensive companies are used. However, the bank, which employs more than 250,000 people worldwide, survived the banking crisis relatively unscathed compared to its competitors. Other important news from the banking panel recently included the recent review by the Royal Bank of Scotland, which included CC, Linklaters and A&O in its list for the next three years. « Maybe companies that don`t serve large financial institutions won`t feel the same pressure, but I absolutely think companies will follow what their customers are asking for, » said Lauren Drake, a partner at recruitment and legal advisory firm Macrae Inc. « If clients want them in the office, they need to be in the office. » SSEK Law Firm continues to investigate brokerage firms that sold investments in Northstar (Bermuda) and Old Mutual (Bermuda) products to foreigners. With both companies now in liquidation and billionaire owner and billionaire Greg Lindberg behind bars, investors were caught off guard by their losses. They had no idea that their brokers were investing their funds in offshore investments that could turn out to be risky. Meyer cited what she said were several other benefits of remote work, including a reduced carbon footprint due to less office space, which also promotes the bottom line and reduces price pressure on customers.
The Securities and Exchange Commission accused a broker-dealer subsidiary of the bank called JPMorgan Securities of a « widespread and long-standing failure » to maintain and retain SMS, emails and WhatsApp messages from employees, including senior executives, as part of the company`s securities business. JPMorgan has agreed to pay $125 million under the SEC settlement. Prior to JP Morgan, Shao held senior partner positions at Linklaters Greater China before being promoted to Asia Managing Partner in 12 years at law firm Magic Circle. He was also a partner at the Australian firm Mallesons Stephen Jaques, which merged with King & Wood in 2013. As a lawyer, he specialized in mergers and acquisitions and restructuring of China-related companies. The recent request by Eric Grossman, Morgan Stanley`s general counsel, that outside law firms refer their lawyers to the office if they want to keep the banking giant`s business is causing potential headaches for businesses caught between their clients and employees. Shao`s arrival gives a big boost to the company`s hopes of attracting more financing and high-quality M&A work and should send a strong message to investment banks after a record year for mergers and acquisitions in China. According to PwC, mergers and acquisitions in China reached record levels in 2014, both in terms of the number of deals (6,899) and total value ($407 billion). JP Morgan remains one of the most sought-after and lucrative legal clients in the world. From transaction, regulatory and compliance instructions to accounting for legal costs that totaled more than $1.1 billion in the fourth quarter of 2014 alone due to major government investigations, law firms are looking for business.
But size aside, JP Morgan`s legal team has long been admired for its technical polishing and pragmatic approach.