We are gratified to see that the law firm Paul Weiss et al., of which the LawPundit is an alumnus, made both lists after reporting the most profitable year in the history of the firm in 2009, which should surprise no one. When the going gets tough, people seek out the best lawyers out there.
As written by Vivia Chen at The American Lawyer:
"... Paul Weiss represented -- and continues to represent -- several of the largest financial institutions now under siege, including Citigroup, Bank of America and JPMorgan/Bear Stearns. "We are fortunate to have been tapped by a number of the most significant financial institutions in the world to handle their most challenging representations as they navigate the financial crisis," Karp [the firm chair] says.See also our posting at Another Paul, Weiss, Rifkind, Wharton & Garrison Summer Associate to the Supreme Court? Obama Nominates Elena Kagan as U.S. Supreme Court Justice.
The firm is defending Citigroup in subprime and credit-related litigation and representing Citi in lawsuits related to its involvement in the Enron and Parmalat fraud cases. Moreover, Paul Weiss is defending Bank of America in litigation arising from its much-criticized merger with Merrill Lynch. The firm also serves as lead counsel to JPMorgan/Bear Stearns in lawsuits stemming from the collapse of Bear Stearns in 2008."