L’affaire Madoff is turning out to be a “boon” for BigLaw, according to Bloomberg. The work is pouring in on all sides: defense, investigation, and plaintiff. Proskauer Rose had 1,300 clients and potential clients call in for a briefing on only a day’s notice. The firm is advising “dozens” of clients, reportedly including Columbia University, MSG, the NY MTA, MoMA, the NY Public Library, and Radio City Music Hall.
As we previously noted, Ira Sorkin (Tulane BA ’65, George Washington JD ’68) of Dickstein Shapiro represents Madoff in the federal criminal case and Martin Flumenbaum (Columbia BA ‘71, Harvard JD ‘74) of Paul Weiss has Mark and Andrew Madoff (who haven’t been charged with anything).
Other notable engagements:
- Irving Picard (Penn BS ’63, BU JD ’66, NYU LLM ’67) of Baker Hostetler is doing the SIPC investigation, tracking down assets;
- Mark Cunha (Cornell AB ’77, Stanford JD ’80) of Simpson Thacher has one of the clients we were wondering about: Fairfield Greenwich Group, who is facing (and will face many more) claims that it failed to protect investors assets;
- Boies Schiller & Flexner claims to have “upwards of 50″ clients making such claims;
- Andrew Levander (Tufts BA ’73, Columbia JD ’77) of Dechert is representing money-manager J. Ezra Merkin against other disgruntled-investor claims;
- Sullivan & Cromwell is doing plaintiff’s work for Yeshiva University, which claims $14.5 million in losses (seemingly small potatoes in the grand scheme of this mess); and
- Steven Molo (Illinois BS ’79, Illinois JD ’82) of Shearman & Sterling has Carl Shapiro, the 95-year old philanthropist who claims $545 million in losses between his personal accounts and his foundation.
HT: John Carney (himself a former Skaddenite) at Clusterstock.
Related posts:
