Job Securities - 3/30/2009

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News	News 2009
HEADLINES \| SETTLEMENTS AND DISMISSALS \| COURT FILINGS LINKS TO OTHER NEWS \| NEWS ARCHIVE	HEADLINES ARCHIVED SETTLEMENTS AND DISMISSALS ARCHIVED

HEADLINE NEWS:

Job Securities, Turns Out There Are Jobs For Associates: Plaintiff Class Action Firms Are Hiring
Petra Pasternak

The Recorder. March 30, 2009
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EXCERPT: While so many firms are making the news for layoffs, a number of plaintiff firms with securities class action practices are hiring associates. Thanks to an influx of large financial and securities fraud cases, 60-lawyer Bernstein Litowitz Berger & Grossmann has added eight associates firmwide since mid-2008, San Diego partner Blair Nicholas said. In that time, the firm also hired four counsel. His firm also is among those that report seeing more defense-side resumes lately. Although he said the firm has no target numbers for future hires, the search isn't over. 'We're looking for associates at all levels in New York and San Diego,' said Nicholas. 'We reassess our needs frequently -- probably on a monthly, if not more frequent, basis.' Those needs have been fueled in part by the financial meltdown, Nicholas said, which has spawned big cases, with more defendants and clients willing to pursue all avenues. Bernstein Litowitz has recently been appointed lead or co-lead counsel in securities fraud actions involving New Century Financial, Washington Mutual and Lehman Brothers, among others. In Northern California, Joseph Tabacco Jr., the managing partner of Berman DeValerio's San Francisco office, said he, too, is actively seeking lawyers. Tabacco said he's planning to add up to two junior or senior associates to the 10-lawyer San Francisco office. 'It would certainly help if they're steeped in antitrust or securities litigation, because we're busier in both areas,' he said, adding that Berman DeValerio was recently appointed co-lead counsel in a Bear Stearns securities class action. Girard Gibbs just hired two associates, one a third-year, the other a fifthyear. Managing Partner Daniel Girard said the firm continues to actively evaluate resumes, and that it's looking to add at least two more associates this year. Girard Gibbs is involved in the In re Lehman Brothers securities litigation. It will also be lead counsel on auction rate cases against Bank of America, Merrill Lynch, UBS and other financial institutions. 'The market meltdown demonstrates that private rights of action under the federal securities laws play a critical role, particularly considering the failure of the SEC and other regulatory agencies to enforce adequate standards for disclosure,' said Girard, who's based in San Francisco. 'The next five to 10 years in this field are going to be an interesting and very active time,' he added.

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