Y! Alert: The Am Law Daily

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The latest from The Am Law Daily

• Cooley Plans Shanghai Office
• Citing Revolving Door, Watchdog Report Questions SEC's Independence
• Improving Prospects--But for Whom?
• Dealmakers of the Week: Alison Ressler, Sarah Payne of Sullivan & Cromwell
• SIPC Looks to Modernize as It Pays Out Millions in Legal Fees
• Lime Wire Settles for $105 Million Mid-Trial
• Challenges for Rajaratnam Appeal
• Senate Judiciary Committee Recommends Donald Verrilli for Solicitor General

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Cooley Plans Shanghai Office	Top
The firm filed an application with Chinese authorities to open what would be its first international office.
Citing Revolving Door, Watchdog Report Questions SEC's Independence	Top
In a report released Friday, the Project on Government Oversight analyzes hundreds of internal Securities and Exchange Commission documents and questions the agency's ability to remain independent given the frequency with which its employees jump between the public and private sectors.
Improving Prospects--But for Whom?	Top
The legal sector might have added 1,500 more jobs in April, but the market for lawyers is shrinking. Meanwhile, partner profits at the country's largest law firms increased in 2010. Whether there's good news in this picture is all a matter of perspective.
Dealmakers of the Week: Alison Ressler, Sarah Payne of Sullivan & Cromwell	Top
Ressler and Payne led the Sullivan & Cromwell team advising Skype for the Internet video service company's planned sale to Microsoft.
SIPC Looks to Modernize as It Pays Out Millions in Legal Fees	Top
The Securities Investor Protection Corporation will hold a forum next month to discuss modernizing the three-decade-old agency. The event comes at a time when SIPC's funds are being depleted by legal fees paid to the trustees for bankrupt brokerages tied to Lehman Brothers and Bernard Madoff.
Lime Wire Settles for $105 Million Mid-Trial	Top
In the midst of a damages trial, Lime Wire, represented by Willkie Farr, agreed Thursday to a $105 million settlement with recording labels suing for copyright infringement.
Challenges for Rajaratnam Appeal	Top
Lawyers and experts not connected to the massive insider trading case against the Galleon Group founder say his defense team faces a tough fight in trying to suppress the government's wiretap evidence.
Senate Judiciary Committee Recommends Donald Verrilli for Solicitor General	Top
Former Jenner & Block litigation partner Donald Verrilli, Jr., cleared an important hurdle on Thursday in his bid to become the next solicitor general of the United States.

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