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Legal Bisnow
    August 2, 2012  
 
How Obama/Romney Might Not Matter

 
Financial services boutique BuckleySandler has added two major players: chief of the SDNY civil division Andrew Schilling and first chief of the SEC Office of Market Intelligence Tom Sporkin. Regardless of the 2012 results, they'll both be swamped.
 
Andy Sandler flanked by Andrew Schilling and Tom Sporkin
We snapped Andrew and Tom flanking firm chairman Andy Sandler. Financial services fraud enforcement is explodingand they don't expect the election results to have a damping impact. Andy says his mortgage-related enforcement and lit matters went from six to 10 per year to 40 to 50. They may yet go higher. Tom tells us there’s no shortage of tips: Enforcement director Robert Khuzami could double the cases with double the budget. (The name Sporkin itself is well known in enforcement; Tom’s father is the legendary former Enforcement director and federal judge Stanley Sporkin.) Andrew and Tom will focus on regulatory and enforcement work, securities investigations, FCA, Dodd-Frank, and whistleblower matters.
Tom Sporkin and Andy Sandler

Starting a firm at the height of a recession, as Andy Sandler did with 40 lawyers from Skadden and Buckley Kolar in ‘09, is no guarantee. But BuckleySandler has boomed to over 150 attorneys in three cities, and reps the country’s 10 largest banks. Looking for comparisons for the magnitude of this add, Andy tried “manna from heaven.” Tom and Andrew are the first laterals from government for the firm and the first lawyers who Andy and his co-founders haven’t personally known for the past couple decades. (Don’t expect more, this was a “one-off.”) But there’s no doubt they know of them: Andrew headed the SDNY’s 57 civil AUSAs and established its new Civil Frauds unit, and Tom helped establish the SEC's whistle-blower program and 50-person OMI on the heels of the Madoff scam.

Andrew Schilling

Everyone remembers great advice they've heard. For Andy, it was from former Clinton counsel Bob Bennett when they were at Skadden: "Be the porcupine." (For the uninitiated, it means a good defense lawyer seeks to "position clients as porcupines so they’re less desirable targets to government enforcers, who are gourmet eaters.") Andy, who bulks up that advice with a Band 1 Chambers ranking in banking and consumer finance, tells us the firm is looking for strategic alliances in Europe, Asia, and Latin America rather than to open its own offices worldwide. (Based on its prior growth, we'll keep our eyes on Mars as well.)


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The Return of Online Poker?
 
Jeff Ifrah, David Deitch, Ifrah Law

Yesterday wrapped up a historic $731M settlement with the DOJ, Full Tilt Poker, and the world's largest online poker site PokerStars. "I don't know if John Grisham could have thought this one up," says Full Tilt counsel Jeff Ifrah about the case it closes. It was a 15-month run that started with what poker players call "Black Friday"—12 indictments against a host of online poker sites and execsby paving the way for poker players to be repaid (the government froze money in the online sites) and selling Full Tilt's assets to Poker Stars. Ifrah Law partner David Deitch, who also worked the case, tells us today that it's good to have it resolved, but that they're of the view that it never should have happened. With some bills in Congress getting momentum behind bringing online poker back to the US, it may never again.


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Judge: Nudity is a  Thumbs Up
 
"censored" sign

Good news for frequent fliers. First, the aversion of the near collision at Reagan this morning. Next: If you’re getting ticked at TSA, feel free to take it off to protest. A judge ruled that an airport strip-down, like one where a 50-year-old passenger got naked to protest the backscatter machines and pat-down inspections, is protected as free speech. Okay, so the judge was in Oregon, but it’s only a matter of time until we see the same thing in DC. (Though hopefully without actually having to, you know, see it.)

 
Censorship? We're not censored. If we were, we couldn't say @#!!. Roksana@bisnow.com.
 
 
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