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The financial services industry and more than a dozen top law firms that represent the industry are expressing concern that reaction to JPMorgan's recent $2 billion loss could sour months of expensive lobbying work on Capitol Hill and before key regulatory agencies. Nowhere is this tension more apparent than in the push and pull over the pending multiagency Volcker Rule, which proponents say could rein in the activity that led to the company's massive trading loss.

The abrupt dismissal of a $3 billion malpractice case came amid concerns about Dewey's finances and a stream of partner departures, but it's hard to know whether resolving it added to the fiscal woes that overtook Dewey. That's because the settlement's terms, and details about how much the firm agreed to pay out, are shrouded in secrecy.Also see: Dewey: Profiles in Something from The Am Law Daily

If you think your company doesn't send spam, you may want to double-check. A Canadian anti-spam law with global reach is poised to cast a wide net for offending communications. Given the hefty fines and class action potential, the new law is sure to prompt tough conversations between in-house counsel and company marketing departments.

Facebook may rake in more than $18 billion in its initial public offering. And plaintiffs lawyers are already vying for a big chunk of the proceeds: Plaintiffs in a proposed privacy class action have filed an amended complaint demanding $15 billion in damages and injunctive relief.

New York lawmakers battling to legalize the medicinal use of cannabis are lauding an op-ed column by Brooklyn Supreme Court Justice Gustin Reichbach in which he admitted smoking marijuana to cope with the effects of cancer. But Reichbach's civil disobedience could be construed as disrespect for the law he is pledged to support.