"A decision was made—and I might say it was a very painful decision—that it would terminate its broker-dealer operations, and it has done so."
- General counsel for the WJB Capital Group Inc. at law firm Platzer, Swergold, Karlin, Levine, Goldberg & Jaslow LLP Mark Skolnick
WJB Capital is a Wall Street firm with more than 100 employees that recently had to shut down its brokerage operations when it was “unable to resolve its financial issues,” Skolnick said.
“We are disappointed by the Department of Justice’s decision to intervene in the qui tam litigation. This action is especially troubling because we believe it could constrain certain patients — most notably those who suffer from unpredictable disease — from utilizing the hospice benefit. The allegations contained in the complaint are without merit, and AseraCare operates in full compliance with the law.”
- AseraCare general counsel David Beck
Comet’s Counterfeit CDs
“Comet's actions were unfair to customers. We expect better from retailers of Microsoft products – and our customers deserve better, too."
- David Finn, associate general counsel for Worldwide Anti-Piracy at Microsoft
Microsoft is suing U.K. retailer Comet over 94,000 allegedly rip-off recovery discs of Windows XP and Vista that the company claims infringe its IP rights.
"They've got the complete game. They're aggressive and tenacious—they're incredible trial lawyers and superb on appeal. They really dig deep and nail down facts, and then they come up with the best legal and factual arguments.”
- Theodore Ullyot, general counsel of Facebook Inc.
Facebook’s Ullyot gave his stamp of approval to The American Lawyer’s choice for Litigation Department of the Year—Gibson, Dunn & Crutcher—which won the honor in 2011 for the second year in a row.
Pleading for Protection
“The prolonged delay in determining both the amount and location of missing customer funds in the wake of MF Global’s collapse highlights the need for stringent measures.”
- Scott Goebel, senior vice president and general counsel at Fidelity Investments
Goebel expresses his company’s desire for protections for swap traders’ collateral in a letter to the U.S. Commodity Futures Trading Commission (CFTC) in the wake of the MF Global collapse. The CFTC may create such rules next week.