NOT AN APRIL’S FOOLS JOKE!

[ by Melanie Gretchen ]

Bingham McCutchen is bleeding partners this week from its securities-enforcement practice.  On Monday, 11 partners at the Boston-based law firm resigned to join Sidley & Austin, the 6th-largest U.S.-based corporate law firm with approximately 1,700 lawyers, according to the firm's website.

The Departed. A Bingham spokeswoman said the firm wished the lawyers well.  However, the departure may indeed cut the firm deeply, considering the partners all left from one department, which in turn, may shed some light on the practice in question.  Departing attorneys include:

• Susan Merrill, former head of enforcement at FINRA
• Neal Sullivan, head of the practice group
• Herb Janick III, former official with SEC Enforcement & General Counsel at UBS Fincl Svcs

While at the firm, Ms. Merrill worked with senior partner Geoffrey Aronow, who left a few months ago to become general counsel at the SEC.  Their work included several of the firm’s prominent securities enforcement cases, including the representation of Christine Serwinski, the former CFO of the North American arm of MF Global.  That brokerage firm collapsed in 2011 under Jon Corzine's leadership.

Twenty partners remain ... in Bingham McCutchen's securities practice - a group that has long been known for its expertise in this area.  Dozens of associates are assigned to this group, as well.  Among those remaining are former SEC Chairman Christopher Cox, who's based in the Costa Mesa, CA office.

For further details, go to [Dealbook, 4/1/13].

To contact Melanie Gretchen: melanie@compliance-insights.com.