Every dawn in the early spring of 2011, Matthew Kluger peered out his window, wondering when federal agents would knock at his door. Kluger, a mergers-and- acquisitions lawyer, says he worried that authorities were closing in on him as the source of illegal tips in a three-man insider-trading ring that had eluded detection for 17 years.
Cravath, Swaine & Moore LLP represented Element Financial Corp., the Toronto-based equipment finance company, on its agreement to buy PHH Corp.’s North American fleet-management business for $1.4 billion.
Salesforce.com Inc., the largest maker of customer-management software, agreed to buy ExactTarget Inc. for about $2.5 billion, making its biggest acquisition ever to expand in online marketing. Wilson Sonsini Goodrich & Rosati PC and Gibson, Dunn & Crutcher LLP worked on the deal.
Although law firm revenues increased slightly in the first half of 2012, the growth in expenses outpaced the revenue increase during the same period. That’s the takeaway of the recent quarterly survey of the law firm group of the Citi Private Bank of Citigroup Inc.