April 2, 2010 3:06 PM
Price for a Career as Counsel at Skadden: $9 Million?
Posted by Zach Lowe
The Skadden, Arps, Slate, Meagher & Flom lawyer whose husband is accused of attacking her earlier this year stands to lose $9 million in income if she cannot return to work in the aftermath of the alleged attack, according to expert testimony recounted in this story from the Stamford (Conn.) Advocate.
The testimony came Thursday in a preliminary hearing in the civil case that Mary Margaret Farren, 44, counsel in Skadden's Washington, D.C., office, filed against her ex-husband, a former attorney in both Bush administrations, the Advocate reports.
In addition to his ex-wife's $15 million civil suit, John Michael Farren faces attempted murder charges in connection with the alleged January attack. He has pleaded not guilty to criminal charges and is being held on bond. The trial court in Stamford is wrapping up a preliminary hearing to decide whether the court may freeze John Michael Farren's assets as part of the civil suit, the Advocate says.
As we reported last month, Mary Farren has said the alleged attack has impaired her ability to process large amounts of information quickly. Mary Farren has testified she fears she may no longer be able to do her job as a litigator on behalf of energy companies. A finance professor at the New York Institute of Technology testified Thursday that Mary Farren's income over the remainder of her Skadden career would be about $9 million. The professor, Steven Shapiro, based that calculation on median lawyer salaries, life expectancy, and other variables, the Advocate reports.
Farren's Skadden salary was $300,000 per year, according to prior reports.Make a comment