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[Editor's Note: The economic downturn that began in 2008 has been called a "100-year flood" for the legal profession. Layoffs, downsizing and even disappearing firms became common as lawyers sought to survive. The entertainment bar looked for workable survival strategies, too, especially, for example, as the traditional business base of many music lawyers shrank along with the declining recording revenues of the digital era. This article focuses on a law firm that, with income shrinking, nevertheless increased its entertainment practice as a way to stabilize and grow.]
Five years ago, nearly 100 lawyers worked at Los Angeles-based Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor (www.linerlaw.com), many of them specializing in big-ticket business litigation. Today, the firm's total headcount is nearly half that size. And its focus has shifted away from big cases toward contingent-fee and alternative-fee litigation.
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
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