M&A Activity Disappoints, But All's Not Lost for Deals Lawyers

On The Merits

#Business #Law Firm #Business News #News #Bloomberg Industry Groups #Bloomberg Laws

17:27

Why do so many of us get nervous when public speaking? Communication expert Lawrence Bernstein says the key to dealing with the pressure is as simple as having a casual chat. He introduces the "coffee shop test" as a way to help you overcome nerves, connect with your audience and deliver a message that truly resonates. After the talk, Modupe explains a similar approach in academia called the "Grandma test," and how public speaking can be as simple as a conversation with grandma. Want to help shape TED’s shows going forward? Fill out our survey ! Become a TED Member today at https://ted.com/join Learn more about TED Next at ted.com/futureyou Hosted on Acast. See acast.com/privacy for more information.…

about a year ago 19:35

MP3•Episode home

But the first two months of 2025 have fallen far short of expectations. Not only have deal tallies been lower than hoped, they are the lowest in five years.

On this episode of our podcast, On The Merits, Bloomberg Law's Mahira Dayal talks about what this slowdown means for law firms. Also, Hogan Lovells partner Mahvesh Qureshi discusses the current M&A environment and what it will take to get deals moving in the coming months. Qureshi leads the firm's Corporate and Finance group for the Americas, is a member of their global board, as well as a member of the firm’s Global Tech M&A leadership team.

Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

259 episodes

M&A Activity Disappoints, But All's Not Lost for Deals Lawyers

On The Merits

31 subscribers

published about a year ago

MP3•Episode home

But the first two months of 2025 have fallen far short of expectations. Not only have deal tallies been lower than hoped, they are the lowest in five years.

Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

259 episodes

#Business #Law Firm #Business News #News #Bloomberg Industry Groups #Bloomberg Laws

All episodes

1
Paul Weiss Post-Trump Deal Exits: Catastrophe or Set Back? 18:29

1 day ago18:29

18:29

It's never a good look for a law firm to lose partners in bunches, and that's what's been happening at Paul Weiss in the past few weeks. Some of the firm's high-profile litigators have announced their departures, following the deal it struck with the Trump administration to avoid a punitive executive order. Ironically, the firm negotiated the White House agreement—which includes a pledge to provide $40 million in free legal services on shared priority causes—in part to avoid a run on partners. On today's episode of our podcast, On The Merits, Bloomberg Law reporters Roy Strom and Justin Henry explain why this is a setback for Paul Weiss, but not a catastrophic one. They note that, thus far, only trial lawyers have departed the firm, leaving intact its ability to operate in the lucrative deals space. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Bondi's Loss May Not Be the End of Attacks on the Bar 14:45

4 days ago14:45

14:45

Brad Bondi, a lawyer at Paul Hastings and brother of the current Attorney General, failed yesterday in his bid to become president of the DC bar association. But criticisms and attacks from conservatives on these legal groups, at both the state and national level, will likely continue. That's one of the takeaways from this week's episode of our podcast, On The Merits, in which Bloomberg Law reporter Tatyana Monnay talks about why Bondi tried to seize control of the DC bar and why his campaign drew so much attention. Also, her fellow reporter Sam Skolnik talks about how conservative attacks on the American Bar Association are hurting the century-old institution in serious and potentially existential way. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Karl Racine Breaks Down Latest Trends for State AG Practices 17:28

10 days ago17:28

17:28

One would think that the Trump administration's pullback on enforcement across the federal government would mean fewer clients for attorneys to defend. But that would be overlooking another important law enforcer in our system: state attorneys general. Karl Racine and Jason Downs, both partners at the firm Hogan Lovells, are bolstering their practice specializing in helping clients under scrutiny by state AGs, many of whom are actively trying to fill enforcement gaps left by the federal government. It's an area the two know well, with Racine serving as attorney general in the District of Columbia during Donald Trump's first term and Downs serving as his chief deputy. They spoke to Bloomberg Law reporter Roy Strom on the latest episode of our podcast, On The Merits, about a few of the enforcement areas they've seen state AGs prioritizing: crypto, the environment, consumer financial protection, and especially AI. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Some Summer Associates Are Unforgettable—But Not in a Good Way 14:18

15 days ago14:18

14:18

Being a summer associate at a law firm can be tricky. On the one hand, you want to be remembered; on the other hand, you don't want to be remembered for the wrong reasons. On today's episode of our podcast, On The Merits, we hear from Kate Reder Sheikh, a partner in the associate practice group at Major, Lindsey & Africa, about the pitfalls that summer associates can fall into—from over-imbibing at company functions to trying too hard to get face time with a partner. She says, in the legal world, "there probably are such things as stupid questions," especially when they're being asked of a busy partner with a high billing rate. Reder Sheikh told Bloomberg Law editor Jessie Kokrda Kamens that those most likely to fall into these traps are students who are so-called "K-through-J.D.," or who went straight from undergrad to law school. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
The Law Firm That's Defying Trump on DEI Recruitment 14:05

24 days ago14:05

14:05

Dozens of law firms have sought to de-emphasize, or outright kill, their diversity initiatives since the Supreme Court's 2023 affirmative action decision—and especially since Donald Trump retook office this year and started issuing punitive executive orders that mention them. However, one firm is now doing the opposite. Susman Godfrey announced last week it would expand its annual prize awarded to law students of color, even though this program was specifically called out by Trump in his executive order targeting the firm. Bloomberg Law reporter Tatyana Monnay wrote about the firm's move and why it was taking this step now. She joins our podcast, On The Merits, to talk about what Susman Godfrey did and why its confidence may have been boosted by a federal judge's chilly reaction to Justice Department arguments against the firm. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Cutting Deals With Trump: Some Law Firms Win, Others Lose 13:34

30 days ago13:34

13:34

We're starting to see the impact of a string of deals reached over the last two months between President Donald Trump and top law firms. Some firms appear to be moving on—and even thriving—after pledging hundreds of millions of dollars in free legal services on causes backed by the White House to avoid punitive executive orders like those Trump has lobbed at others. At least three firms that made deals are primed to cash in on Saudi Arabia's plan to invest $1 trillion in the US, thanks to their ties to a leading sovereign wealth fund: Latham & Watkins, A&O Sherman, and Kirkland & Ellis. Cadwalader Wickersham & Taft, meanwhile, is seeing the downside of doing a deal with Trump. A string of partners have headed for the exit since the firm's agreement with Trump was announced, including some who left because of their opposition to the deal. Justin Henry joins fellow Bloomberg Law reporter Roy Strom on this episode of our podcast, On The Merits, to talk about these two developments and about why it's still too soon to say whether law firms that acquiesced to the president made the right move. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Trump's War on Law Firms Puts In-House Counsel in Tough Spot 20:59

4 weeks ago20:59

20:59

The Trump administration's attacks on law firms are having ripple effects on the general counsel whose companies employ those firms. Top attorneys at many large companies may be considering whether to switch the firms they use as outside counsel, according to Bloomberg Law reporter Brian Baxter. In some cases, GCs don't want to work with a firm that's under attack from President Donald Trump; in other cases, they may feel uncomfortable that the firm struck a deal with the White House. On this episode of our podcast, On The Merits, Bloomberg Law editor Jessie Kokrda Kamens speaks with Baxter about what GCs are telling him and why they may be ready for a change. Kamens also speaks with Sara Kropf, partner at the firm Kropf Moseley Schmitt, about which types of companies are most likely to want to switch firms and why actually doing this is much harder than it seems. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Trump's Law Firm Deals Now Clearer, but Still Far From Clear 15:44

5 weeks ago15:44

15:44

Shortly after law firms started striking deals for free legal services with the White House, Bloomberg Law reporter Meghan Tribe appeared on our podcast, On The Merits, to talk about how much ambiguity there was around what the firms were agreeing to and how these agreements would be enforced. Now, Tribe and her colleague Brian Baxter have seen a copy of one of these deals but many unanswered questions remain. However, we do have more concrete insight into the separate deals firms struck with the Equal Employment Opportunity Commission. Tribe rejoins the On The Merits podcast to talk about what she uncovered and about the details of the EEOC deals. She also discusses whether the firms that struck deals may have made a mistake, or whether it's too soon to say. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
100 Days of Uncertainty and Seismic Shifts in the Legal World 18:55

6 weeks ago18:55

18:55

The legal industry is in a state of tremendous flux after just 100 days of the second Trump administration, with the biggest law firms in the country under attack and the Department of Justice's independence in question. Three Bloomberg Law reporters covering three different beats teamed up to write a story chronicling everything that's been happening in the legal world since Donald Trump retook office earlier this year and where we might be heading in the months to come. Those three reporters—Roy Strom, Justin Wise, and Suzanne Monyak—join our podcast, On The Merits, to talk about what they learned in their reporting and why it took all of them to tell this story. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Trump's Attacks on Firms Scramble Law Students' Career Paths 13:05

6 weeks ago13:05

13:05

Many students at elite law schools end up working in Big Law for at least a spell. The Trump administration's attacks on the industry, and deals with some of its top players, are making the choice of where to start their careers much more complicated. Students are stuck between two very uncertain options: go to a firm that struck a deal with the White House, despite concerns about a lack of principles; or, go to a firm that's fighting Trump in court, despite concerns about the firm remaining financial stable. Bloomberg News reporter Claire Ballentine wrote about how students are making these tough choices and she speaks with Bloomberg Law editor Jessie Kokrda Kamens on this episode of our podcast, On The Merits. Ballentine talks about how some law students are organizing to help each other make a decision and how the massive debt loads many of them shoulder are factoring in. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
If Trump Keeps Defying Courts, What's the Endgame for Judges? 19:45

7 weeks ago19:45

19:45

Judge James Boasberg began the process of holding Trump administration officials in contempt of court last week as he struggles to get them to follow his orders around the deportation of alleged Venezuelan gang members. That contempt process was halted a few days later by an appellate court, but Boasberg's actions raised questions about how it might play out if he or another federal judge did eventually fine or attempt to jail recalcitrant executive branch officials. Could Justice Department lawyers get arrested? Would the U.S. Marshals Service be arresting them? And what if the president orders it not to? On today's episode of our podcast, On The Merits, Rutgers University law professor David Noll walks us through how these contempt proceedings might work and what the personal consequences would be for Justice Department lawyers caught up in an escalating standoff. Noll also talks about how judges may be able to get around a President who orders US Marshals to stand down: deputizing local police officers. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Trump Orders Could Implode Law Firms With Frightening Speed 24:23

8 weeks ago24:23

24:23

Like a run on a bank, law firms can quickly collapse if a few rainmakers pick up and take their books of business elsewhere—a vicious cycle that's hard to stop once it gets going. That's the takeaway from a law review article by Yale professor John Morley. He says a partner exodus can happen quickly because there's a huge financial incentive not to be one of the last partners remaining at a firm. That dynamic is on many partners' minds right now as they debate whether to fight the White House's punitive executive orders. For this episode of our podcast, On The Merits, Morley spoke with Bloomberg Law reporter Roy Strom about how these so-called "runs on the partnership" can play out and about which types of firms are the most vulnerable to a catastrophic implosion. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Trump Gets Millions in Pro Bono Work, But Details Still Fuzzy 18:03

10 weeks ago18:03

18:03

Law firms are striking deals with President Trump to avoid getting hit with a punitive executive order, and all of these deals include pledges of tens of millions of dollars in pro bono legal work. In this quickly changing landscape, it appears that the biggest law firm in the country, Kirkland & Ellis, is considering one of these commitments to the White House. However, the details of how these deals will work in practice are scant to nonexistent. How will the legal work be tracked? What qualifies as a conservative client? Can the White House reject certain clients as not conservative enough? And does this mean these firms will now turn away liberal-leaning pro bono clients? On today's episode of our podcast, On The Merits, Bloomberg Law reporters Justin Henry and Meghan Tribe dig into the questions surrounding these law firm deals and ask whether this ambiguity is by design. They also talk about what it means that a firm as big as Kirkland is now choosing to negotiate with the White House rather than fight it in court. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Skadden Is Heading Down a 'Craven Path,' Associate Says 26:23

11 weeks ago26:23

26:23

"I cannot imagine a worse deal than the one that Skadden came away with." That's the opinion of one of the law firm's own associates, Rachel Cohen. The Chicago-based finance lawyer has grabbed the spotlight by criticizing Skadden and Paul Weiss for reaching agreements with President Donald Trump as he targets Big Law through a series of executive orders. She's also slammed others for staying quiet, even as three major firms fight Trump directives in court. "The industry is not uniting," said Cohen, who is set to officially leave the firm later this week. "We have to be proactive here and we've not seen that from anyone except for associates." Late last week, President Trump said that, to avoid being targeted by a punitive executive order, Skadden, Arps, Slate, Meagher & Flom agreed to provide $100 million worth of pro bono services to causes Trump supports. This is $60 million more than was offered in a similar deal struck by the firm Paul Weiss weeks earlier. Even before this, Cohen had already put in her resignation, which will take effect later this week. More than 1,500 Big Law associates anonymously signed an open letter criticizing the industry's response to Trump's attacks. Cohen chose not to remain anonymous. Now she's calling on Big Law associates to go on a "recruitment strike" and refuse to do any recruitment for their firms until partners take a stronger stance against Trump. On this episode of our podcast, On The Merits, Cohen speaks with Bloomberg Law editor Jessie Kokrda Kamens about her reaction to the Skadden deal and about what power associates have in this ongoing battle between Big Law and the White House. "Associates are the workhorses," she said. "And the partners certainly do not want to be responsible for the work that they historically farm out to associates." Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

1
Big Law Banker Sees ‘Mood Shift’ as Market Rebound Hopes Delayed 15:35

11 weeks ago15:35

15:35

The US legal industry was already in a tough spot before President Donald Trump started attacking Big Law firms. Gloomy economic conditions and tariff-related uncertainty quickly tanked law firm leaders' expectations for a rebound that followed Trump's election. They're looking to stay off the president's target list in a wave of executive orders, while navigating a slowdown in deals activity and across practice groups. "From cautiously optimistic to cautious." That's how Gretta Rusanow described the mood shift she's seen in recent weeks among managing partners at some of the country's biggest law firms. Rusanow, the leader of Citigroup's law firm advisory group, says firms are feeling much more bearish now than at the end of last year. There's potential for an economic contraction, she says, and the fact that the huge revenue growth of prior years is now looking more like an aberration. Even as the country's elite firms come off of a record year for revenue and profits. Rusanow joins our podcast, On The Merits, to talk about why 2025 likely won't see the industry outperform its average growth numbers. She also tells Bloomberg Law reporter Roy Strom that any overachieving that does happen this year will likely flow toward just a handful of the largest firms. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
How Law Firms Singled Out by EEOC for DEI Practices Can Respond 18:17

11 weeks ago18:17

18:17

President Donald Trump has targeted major law firms in his second term in unprecedented ways. He hit three Big Law firms with executive orders that pose potentially existential threats to those firms. Then on March 21, the Trump administration issued a broad memo targeting any lawyer who files “frivolous, unreasonable, and even vexatious litigation against the United States.” On this podcast episode we’re talking about yet another way the administration is going after firms. Andrea Lucas, the acting chair of the Equal Employment Opportunity Commission, sent a letter to 20 major firms such as Kirkland & Ellis, Skadden, and Simpson Thacher requesting extensive documentation to investigate whether their Diversity Equity and Inclusion programs are discriminatory. The EEOC is asking for names, gender, race, law school and GPA information for all who have applied to be hired since 2019. Joining the podcast are two Bloomberg Law reporters who are following this story, Business & Practice reporter Tatyana Monnay and EEOC reporter Rebecca Klar. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
M&A Activity Disappoints, But All's Not Lost for Deals Lawyers 19:35

12 weeks ago19:35

19:35

After Donald Trump won the presidential election, dealmakers at corporations—and the Big Law lawyers that represent them—were optimistic about the prospects for increased corporate mergers and acquisitions. But the first two months of 2025 have fallen far short of expectations. Not only have deal tallies been lower than hoped, they are the lowest in five years. On this episode of our podcast, On The Merits, Bloomberg Law's Mahira Dayal talks about what this slowdown means for law firms. Also, Hogan Lovells partner Mahvesh Qureshi discusses the current M&A environment and what it will take to get deals moving in the coming months. Qureshi leads the firm's Corporate and Finance group for the Americas, is a member of their global board, as well as a member of the firm’s Global Tech M&A leadership team. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
Trump's War on Big Law: 'No Firm Too Big to Be Attacked' 22:04

13 weeks ago22:04

22:04

The White House has now hit several of the largest law firms in the world with directives that strip their attorneys of security clearances and order federal agencies to scrap contracts they hold with the firms' clients. Paul Weiss is the most recent target, but there's reason to believe it won't be the last. Bloomberg Law reporter Tatyana Monnay says it's now clear that "there's no firm too big to be attacked." In an executive order targeting law firm Perkins Coie, Trump said he was looking into at last 15 other firms for noncompliance of the law due to DEI initiatives. On this episode of On The Merits, Monnay and fellow Bloomberg Law reporter Justin Henry talk about what's happening with the orders and how things are going with Perkins Coie, which fought back against the White House in court. They also discuss why even getting vindication before a judge may not be enough to stave off severe financial damage. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
Kirkland's Blackstone Connections Pay Off in Big Haul 13:03

14 weeks ago13:03

13:03

Kirkland & Ellis, the world's largest law firm by revenue, brought in more than $100 million last year from just one of its clients: Blackstone Inc. That's more than double the amount Kirkland earned from the private equity giant in 2023. The dollar amount itself is eye-popping, but also notable is that we even know this information at all. Blackstone was required to disclose the payments in investor filings late last month because a Kirkland partner, Reg Brown, sits on its board. On this episode of our podcast, On The Merits, we talk with Bloomberg Law's Brian Baxter about what Kirkland has been doing for Blackstone, the strong professional and personal ties between the two companies, and what the massive fees tally means for the law firm that typically handle's most of Blackstone's business, Wall Street's Simpson, Thacher & Bartlett. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
How the Anti-Bribery Law Pause Will Impact Companies and Big Law 20:44

14 weeks ago20:44

20:44

The Foreign Corrupt Practices Act has been a mainstay of corporate culture for the last quarter-century, and has cost companies millions, sometimes even billions, of dollars in fines. And that’s before you start counting the lawyers’ fees. This law, used to prevent US businesses from engaging in bribery to win foreign business, has seen a major uptick in enforcement over the last 25 years. And, over that period, it has become a major revenue driver for elite law firms. Some say that the law keeps companies honest, and actually benefits corporations by providing them a shield for responding to requests for bribes. But last month President Donald Trump said the law “sounds good on paper but in practicality, it’s a disaster.” Trump signed an executive order pausing the initiation of new investigations for 180 days and meanwhile ordering the AG to issue updated guidelines. On the latest episode of On The Merits, leading FCPA practitioner, Martin Weinstein, the chair of Cadwalader’s compliance, investigations & enforcement practice, talks about the impacts of a law he calls the “greatest tariff in the US Code” and what it could mean for business if enforcement winds down. And Bloomberg Law reporter Roy Strom discusses the impact on large law firms, which have built premier practices focusing on this law. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
'Dirt Lawyers' to Megadeals: How Houston Became Big Law Hot Spot 20:24

15 weeks ago20:24

20:24

Houston's legal market wasn't always one of the most competitive arenas in Big Law. But today, 14 of the 15 largest law firms by revenue have an office in Space City. The market's growth has mirrored the explosion of the country's energy industry over the past decade or so. And the competition among law firms continues to evolve, as the biggest firms fight for their share of a market once dominated by local firms. On this episode of On the Merits, Bloomberg Law’s Roy Strom spoke with Nick Dhesi, the managing partner of Latham & Watkins' Houston office, which is credited as the first to truly crack the once-insular market. Latham in February celebrated its 15th year in Houston. The firm has more than 120 lawyers in the city, the fifth-largest presence among the 100 largest firms by revenue, according to Leopard Solutions. Other firms, such as Kirkland & Ellis, Sidley Austin, Simpson Thacher & Bartlett, and Gibson Dunn & Crutcher, have piled into the market, lured by its dominant oil and gas scene. Just last year, Paul Weiss made an unsuccessful effort to open in Houston, Bloomberg Law reported, which included an attempt to poach from Latham. Latham, the second-largest firm by revenue, now has a roughly $2 billion energy and infrastructure practice, led by Houston partner Justin Stolte. In the podcast, Dhesi talks about Latham's main competitors now, what a "dirt lawyer" is, and how the Texas legal market will respond to an economy that's branching out of the traditional oil and gas deals that powered its growth. He also discusses how the Houston and Dallas legal markets are different, and what Texas law schools have been doing to supply more high-caliber lawyers to all the top firms clamoring for talent in the state. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
Agency Lawyers on the Job Market Should Think Broadly in Search 21:11

16 weeks ago21:11

21:11

The federal workforce has been hit with a wrecking ball since Elon Musk’s Department of Government Efficiency started its campaign to fire and furlough federal employees. Meanwhile, law firms are seeing a flood of resumes from attorneys who have lost their jobs and from lawyers who want to leave behind the new instability of federal employment. However, law firms have limits to how many attorneys they can hire, especially when those attorneys don’t come with a book of business. So what should government attorneys looking to transition to private practice do next? On this episode of On The Merits, Bloomberg Law reporter Tatyana Monnay; Justine Donahue, a partner with the legal recruiting firm Macrae; and Bloomberg Law columnist and former Airbnb general counsel Rob Chesnut discuss federal workforce developments, the job market for private practice, and how government attorneys can pivot their careers. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
How Sports Deals Became 'Sexy' at Leading Law Firms 15:10

16 weeks ago15:10

15:10

The sports business is booming. You’ve probably seen the headlines. An NFL team sold for $6 billion, and private equity is pouring money into almost anything that involves a ball or a stick. For law firms, that means opportunity. More Big Law firms view the business of sports as a target for the types of megadeals that drive revenue. Naturally, there's a lot more competition coming for a practice area that was once dominated by only a handful of repeat players. On this episode of On The Merits, Bloomberg Law's Roy Strom spoke with Sidley Austin's Irwin Raij and Eric Geffner. The veteran dealmakers have guided transactions involving the NBA's Charlotte Hornets, the NFL's Washington Commanders and Carolina Panthers, and women's pro soccer franchise the Chicago Red Stars. Raij and Geffner discussed why sports deals work is a "very sexy practice right now" that's getting the attention from more major firms. They also talked about the growth of investments in women's sports and new opportunities for private equity in the National Football League. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
Musk Attacks, 'DExit' Worries Rattle America's Corporate Capital 15:57

16 weeks ago15:57

15:57

Delaware has been the US corporate capital for about a century. But a wave of high-profile departures—amid a barrage of attacks from Elon Musk—has many members of the state's corporate community worried about the future. Although the world's richest man has been trying to provoke a corporate exodus for more than a year, the increasingly powerful Musk isn't the only critic of recent Delaware court rulings. Other stakeholders, such as the state's influential corporate defense bar, also say Delaware law has been evolving in a direction hostile to business leaders and controlling stockholders. At the same time, there's a lot of buzz about Nevada—which presents itself as a sort of anti-Delaware—and Texas, which recently set up a new commercial court to compete with the famous Delaware Chancery Court. It's still too early to stay if the "DExit" will widen from a trickle into a flood. On this episode of our podcast, Bloomberg News reporter Jef Feeley and Bloomberg Law senior correspondent Jennifer Kay discuss the latest developments out of Delaware. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690…

On The Merits

1
How Tom Goldstein's Risky Poker Habit Caught Up With the SCOTUSblog Founder 16:21

17 weeks ago16:21

16:21

At its height, the influential SCOTUSBlog provided Supreme Court coverage that drew comparisons to the comprehensive way ESPN reports on sports. But while the blog was becoming required reading for attorneys, law students, and journalists, its founder was allegedly racking up millions in gambling and tax debts. High-profile Washington attorney Tom Goldstein was indicted last month on federal charges allegedly tied to an ultra-high-stakes poker hobby involving billionaires, professional gamblers, Hollywood stars, and trips to Macau. Goldstein—a seasoned litigator known as a risk-taker both in court and at the poker table—was arrested Feb. 10 after prosecutors said he violated the terms of his release by hiding cryptocurrency accounts from pretrial services and transferring funds without approval. He has since filed an emergency motion challenging his detention. On this episode of our podcast, investigative reporter Alexia Fernández Campbell and legal reporter Holly Barker discuss the story that’s riveting the legal world. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690…

On The Merits

1
Why Do Big Law Mergers Fall Short of Revenue Hopes? 14:59

18 weeks ago14:59

14:59

Big law firms are increasingly feeling pressure to grow, and many use mergers with other firms to expand. But a recent Bloomberg Law analysis reveals that about two-thirds of the 18 largest mergers within the past 15 years saw slower revenue growth than their competitors. Bloomberg Law reporter Meghan Tribe joins the podcast to talk about why firms merge, what challenges they face, and what the most successful mergers look like. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690…

On The Merits

1
A Big Law Music Dealmaker Explores Future of the Business 19:39

19 weeks ago19:39

19:39

People are always finding new ways to listen to music, from vinyls and cassettes to stolen downloads and paid streaming services. So, how is the music business holding up? Who’s making the money today? And what's in store for musicians with the growth of artificial intelligence? On this episode of our podcast, On the Merits, Bloomberg Law’s Roy Strom dives into those questions and more with Sid Fohrman, chair of the music industry practice at Paul Hastings. The Los Angeles lawyer, who joined the firm from Willkie Farr & Gallagher last month, has advised on deals involving Lady Gaga, David Bowie's estate, and Taylor Swift. He's also a musician himself who packed his bags early in his legal career and headed from Chicago to Hollywood to take a chance following his passion. Fohrman has had a seat at the table as the music industry figured out how to make your favorite songs ubiquitous. The real challenge is how to make money—and how to make the money go where it should. That’s where Fohrman thinks the industry can do a better job. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
KPMG's Move to Practice Law in Arizona May Signal Paradigm Shift 16:49

19 weeks ago16:49

16:49

Big Law has long feared that the Big Four accounting firms–Deloitte, PWC, KPMG, and EY–would start practicing law in the US. Now, that may soon be a reality. Big law's fear is that the Big Four has scale that dwarfs even the largest US law firms, and its dominance in legal technology could lead to a paradigm shift in how legal services are delivered. But American lawyers have always had a safety net. The ethical rules for lawyers say that non-lawyers can’t own law firms. This has put a fence around US law firms that has kept out the Big Four. Now, a couple of states, including Arizona, have changed these rules to allow non-lawyer ownership. KPMG has applied to practice law in Arizona. On this episode of On The Merits, Bloomberg law reporters Justin Henry, Amanda Iacone, and Roy Strom discuss KPMG’s big move and what it could mean for the legal industry. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.…

On The Merits

1
Oligarch Family's $3 Billion Feud Highlights Sanctions Gray Area 19:15

20 weeks ago19:15

19:15

When Russian chemicals magnate Oleg Burlakov died of Covid, he left behind a $3 billion fortune that prompted an international legal battle among feuding members of his family. In one corner stand his sister and brother-in-law, who say they had a secret agreement with Burlakov entitling them to half of what he left behind. In the other: His estranged widow and adult daughters. Their fight over Burlakov’s billions has led to litigation in London, Moscow, Monaco, and Miami. Now, the Miami case—before a state court judge—has been complicated by the potential involvement of a Russian litigation funder and a Swiss money manager who’s been sanctioned for allegedly facilitating Russian money laundering. On this episode of our podcast, correspondent Emily Siegel and senior investigative reporter John Holland discuss the wrangling over Burlakov's estate and what it tells us about how judges in the US are grappling with sanctions related to Russia’s invasion of Ukraine. Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690…

On The Merits

1
What Big Law’s Top Deals Firm Expects for 2025 Markets 16:55

21 weeks ago16:55