SAN FRANCISCO, May 16, 2016 - Baker Botts L.L.P., a leading international law firm, today announced the admission of Stuart Plunkett and Jonathan Shapiro as partners in the firm’s recently opened San Francisco office.
“Both Stuart and Jon are outstanding litigators and we are delighted that they have chosen to join us,” said Andrew M. Baker, Managing Partner of Baker Botts. “Baker Botts has a strong presence in California, and the addition of both Jon and Stuart in San Francisco speaks to the interest and momentum that we have seen, since we opened our office earlier this year,” added Mr. Baker.
Mr. Plunkett has 19 years of national experience representing clients in complex antitrust and commercial litigation matters. His clients include companies and individuals in a broad range of industries, including high tech, financial services, energy and healthcare.
Mr. Plunkett regularly speaks and writes on antitrust litigation topics. He served as Chair of the Antitrust Section of the Bar Association of San Francisco and currently serves on the Bar Association’s Executive Committee. Mr. Plunkett previously served on the Executive Committee of the Antitrust Section of the State Bar of California.
Mr. Shapiro’s practice focuses on the defense of business and securities litigation and government enforcement actions. He has litigated class actions, challenges to corporate transactions and governance, and other matters regarding allegations of fraud and breach of fiduciary duty, including jury and bench trials.
Mr. Shapiro’s clients include public and financial services companies, officers and directors, and investment bankers. He also serves as counsel defending and conducting internal investigations to those subject to enforcement action under the Securities and Exchange Commission, the Department of Justice, FINRA, and other government agencies and self-regulatory organizations.
Mr. Plunkett joins the firm from Morrison Foerster, while Mr. Shapiro joins from Mintz Levin.
“Adding Stuart and Jon in San Francisco is another step in the execution of our strategic plan to help us meet growing client demand in California, while ensuring we maintain our high level of professional excellence and client service. We expect to add other high quality legal talent to our Bay Area offices in the near term,” said Pat Stanton, Partner-in-Charge of the firm’s San Francisco office.
Transactions involving the electric power industry have been a core competence of Baker Botts for over 100 years. During that time, much of the worldwide power industry has been deregulated and privatized. Today, growing concerns about global warming promise even greater changes – more renewable generation, carbon abatement transactions and projects, and implementation of smart grid technologies. We understand the commercial and regulatory implications of these trends, and assist our clients in all aspects of this dynamic industry.
Our clients cover the spectrum of participants in the power industry in virtually all types of relevant transactions, projects, and regulatory proceedings, including project development, project finance, permit and rate cases, and acquisitions and divestitures.
Our clients include:
In 2015, the Houston-based firm topped $1 million in revenue per lawyer for the first time—"finally," says managing partner Andrew Baker. Specifically, RPL climbed 7.4 percent, to $1.01 million, and gross revenue rose 7.9 percent, to $704.5 million. Profits per partner increased 6.2 percent, to $1.805 million.
Diversification was key to the firm's success. "While commodity prices were down, we're more diversified [than some other Texas firms], so we saw strong performance across the board," Baker says. Eight of the firm's top 15 clients, as measured by revenue generated for Baker Botts, are in the technology sector, not energy.
Still, one of the firm's splashiest successes in 2015 was for an energy client: a victory in district court in Fort Worth for Russian oil and gas company OAO Gazprom in a suit brought by Moncrief Oil International. Moncrief's $1.37 billion claim was dismissed with prejudice after the company was accused of producing a falsified key document.
Will 2016 be another record-breaking year? Baker says that's no sure thing, despite the firm's diversification. "It will be challenging," he says.
To read the Full article, Tech Work Shields Baker Botts From Energy's Slowdown, visit The American Lawyer website.
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On May 17, 2016, the Department of Labor’s Wage and Hour Division (the “DOL”) published the final rule increasing the salary basis requirement to establish that an executive, administrative, professional, outside sales, or computer employee is exempt from overtime pay (the “Final Rule”).
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On May 4, 2016 the Internal Revenue Service (the “IRS”) issued final and temporary regulations, Treasury Regulation § 301.7701-2T (the “Regulation”), to clarify the employment tax treatment of partners in a partnership that owns a disregarded entity.