Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates

Skadden,  Arps, Slate, Meagher & Flom LLP and Affiliates Company Profile

Giant among Mortals

Kind of like Oprah or Prince, Skadden is a giant among mortals. Known by its one name, it sits atop its world, continuously topping the AmLaw 100 as one of the most profitable law firms. It was the first law firm to report $1 billion in annual revenue-now an industry brass ring. But it's not just about the money or numbers-Skadden consistently draws top accolades from the most esteemed rankings: Chambers, The American Lawyer, The National Law Journal and the Financial Times. The firm also gets regular annual kudos from industry-specific publications-such as Corporate Board Member's ranking of "America's Best Corporate Law Firms"-and overseas rankings.

A Legendary Leader

Much of Skadden's ethos can be attributed to Joe Flom, who started at Skadden three months after its 1948 founding (legend has it that Flom's early wages came from a weekly pinochle pot) and whose name graced the door a mere 13 years later. Flom-who was active in the firm almost up until his passing, at 87, in February 2011-participated in most of the major M&A deals of the 70s and 80s, establishing Skadden's hard-nosed style and building a reputation for aggressive strategies. Flom also spearheaded the firm's practice diversification efforts from its original M&A base, and Skadden now boasts top-notch restructuring, capital markets, IP, white-collar defense, and commercial, securities, and products liability litigation groups. In recognition of Flom's imprint on the legal industry, The American Lawyer named him one of "The Lawyers of the Century" in 1999. Other stars and alumni of the 1,600-lawyer firm include famed litigator Robert Bennett and ex-New York Governor Eliot Spitzer.

Brioche and Butter

Multifaceted as it is, Skadden's forte is still M&A. Deals such as DuPont-Conoco, U.S. Steel-Marathon Oil, and most notably the 1989 takeover of RJR Nabisco launched the firm onto the top rung of American law firms. Following the 2008 financial bust-up, Skadden served as lead counsel on five of the ten most successful restructurings in 2009, according to Turnarounds & Workouts. Among the major matters the firm worked on during the financial crisis was the rescue of CIT Group, in what was the largest prepackaged bankruptcy solicitation ever and one of the largest by a financial institution. And two Skadden corporate restructuring partners were named among the decade's most influential lawyers by The National Law Journal in 2010.

The firm's work in M&A spans industries and continents, and it continuously garners awards and recognition. Skadden is a regular atop The American Lawyer's annual "Corporate Scorecard" for handling the greatest number of the largest M&A deals.

Masters of the Private Domain

Skadden helped to pioneer the privatization of private equity, which continues today. The high-profile IPO of Blackstone marked a milestone for the industry, with Blackstone becoming the first large U.S. buy-out fund to sport a public listing. It was also one of the most audacious IPOs in securities history, drawing attention to Skadden's talent for "innovative" structuring schemes.

Litigation: Bigger is Better

Don't be deceived by Skadden's M&A foundation-the firm's litigators are first-rate. In 2010, the firm successfully defended former Bristol-Myers Squibb CFO Frederick Schiff against securities fraud charges, securing a deferred prosecution agreement that will result in the dismissal of all charges within one year. In recent years he firm has recently added such prominent lateral hires as former Obama White House Counsel Greg Craig, former Acting U.S. Attorney for the District of Massachusetts Michael Loucks and former U.S. Attorney for the District of Illinois Patrick Fitzgerald. The firm has an active London dispute team and a top-ranked Asia Pacific international arbitration and litigation group and has handled major matters stateside for the likes of Citigroup, CME Group, Credit Agricole, Deloitte, JPMorgan Chase, KPMG, Pfizer, and UBS.

IN THE NEWS

March 2014

Top of the Heap
Skadden was named by Chambers Global as "International Law Firm of the Year" for 2014. The recognition "is awarded to the firm that has demonstrated its ability to advise on the highest profile matters across a broad range of practice areas all over the world. The firm is consistently recognized for its high quality legal advice by clients." Chambers also recognized Skadden as the 2014 "Corporate / M&A Law Firm of the Year," stating: "This leading US firm has an impressive global footprint, with particular strength in Asia and Latin America. Commentators appreciate its global network and client base, which enables it to work on international transactions involving multiple offices."

January 2014

Litigation Luminary
Skadden was selected by The American Lawyer as a finalist for its biennial "Litigation Department of the Year" competition. The publication based the award on interviews with partners, client references and litigation achievements across various practice areas. In a story titled "The Internationalists," the magazine highlighted the growth and strength of Skadden's global litigation capabilities and described the firm as "a global one-stop shop for antitrust, mass torts and securities litigation, as well as white-collar defense and regulatory work."

November 2013

Innovative Streak Runs Deep
Skadden again ranked as the No. 1 firm in the country for innovation in the legal sector in the Financial Times' annual "US Innovative Lawyers" report. Skadden is the first firm to receive this honor twice and has ranked as one of the top two firms all four years the report has been published. The FT gave Skadden 11 ranked submissions-the most by any firm in the history of the report-including at least one ranked item in each of the report's five firm-related categories: corporate, finance, litigation, "lawyers to the innovators" and "business of law."

September 2013

Surefire Sprinters
At its inaugural Global Legal Awards, The American Lawyer recognized Skadden's work for Sprint Nextel Corporation in its $21.6 billion merger with SoftBank as the "Global M&A Deal of the Year: Grand Prize." The firm successfully led two simultaneous transactions for the company: the sale of a 78 percent share of Sprint to SoftBank for $21.6 billion and the purchase of the shares of Clearwire that Sprint did not already own for $3.6 billion. The deals were termed "the most complex and unusual deals in the annals of takeovers" and "among the most complicated battles over public companies ever," according to The Wall Street Journal.

March 2014

Merry Mergers for MacAndrews & Forbes
In a landmark decision, the Delaware Supreme Court affirmed the Delaware Court of Chancery's entry of summary judgment for MacAndrews & Forbes Holdings, Inc., holding for the first time that the deferential business judgment standard of review applied to a merger between a controlling stockholder and its subsidiary. The decision provides a roadmap for structuring mergers involving controlling stockholders that can reduce costly and time-consuming stockholder litigation. Skadden represented MacAndrews & Forbes in both the Delaware Chancery and Supreme Courts.

March 2014

No Fraud for News Corp.
On behalf of News Corp., its subsidiary NI Group, and Rupert and James Murdoch, Skadden won the dismissal of a securities fraud class action arising out of news-gathering practices at News of the World and The Sun. The plaintiffs claimed that the defendants, which also included Les Hinton and Rebekah Brooks, deliberately concealed these practices through false statements that they failed to correct, and that News Corp.'s stock price dropped when the extent of the practices was revealed. On March 31, 2014 Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York dismissed the complaint on the ground that most of the alleged false statements were made prior to the class period.

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Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates


Four Times Square
New York, NY 10036
Phone: (212) 735-3000
www.skadden.com

STATS


  • Employer Type: Private
  • Executive Partner: Eric J. Friedman
  • Hiring Partner: Howard L. Ellin
  • Total No. Attorneys 2014: 1,600

  • Employment Contact

    Carol Lee H. Sprague
    Director, Associate/Alumni Relations & Attorney Recruiting
    Phone: (212) 735-2076
    E-mail: carol.sprague@skadden.com


  • Base Salary

    All U.S. offices
    1st year: $160,000
    2nd year: $170,000
    3rd year: $185,000
    4th year: $210,000
    5th year: $230,000
    6th year: $250,000
    7th year: $265,000
    Summer associate: $3,100/week


  • Summer Associate Offers

    146 out of 148 (2013)


  • Major Departments & Practices

    Antitrust and Competition
    Banking
    CFIUS
    China
    Class Action Litigation
    Consumer Financial Services Enforcement and Litigation
    Corporate
    Corporate Finance
    Corporate Governance
    Corporate Restructuring
    Derivative Financial Products, Commodities and Futures
    Energy and Infrastructure Projects
    Energy Regulation and Litigation
    Environmental
    European Union/International Competition
    Executive Compensation and Benefits
    False Claims Act Defense
    Financial Institutions
    Government Enforcement and White Collar Crime
    Health Care and Life Sciences
    Insurance
    Intellectual Property and Technology
    International Litigation and Arbitration
    Investment Management
    Labor and Employment Law
    Litigation
    Mass Torts and Insurance Litigation
    Mergers and Acquisitions
    Patent and Technology Litigation and Counseling
    Political Law
    Private Equity
    Real Estate/Real Estate Investment Trusts
    Securities Enforcement and Compliance
    Securities Litigation
    Structured Finance
    Tax
    Tax Controversy and Litigation

Major Office Locations

  • New York, NY (HQ)
  • Boston, MA
  • Chicago, IL
  • Houston, TX
  • Los Angeles, CA
  • Palo Alto, CA
  • Washington, DC
  • Wilmington, DE
  • Beijing
  • Brussels
  • Frankfurt
  • Hong Kong
  • London
  • Moscow
  • Munich
  • Paris
  • São Paulo
  • Seoul
  • Shanghai
  • Singapore
  • Sydney
  • Tokyo
  • Toronto
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