The Talent

May 26, 2009 12:01 PM

That Was Fast: Dorsey Terminates Partner Charged with Insider Trading

Posted by Zach Lowe

Apparently, law firm management in the U.K. can be as ruthless as the terminators that The Am Law Daily saw in Terminator Salvation this weekend, especially when one of their partners faces serious white-collar crime charges. Less than a week after news broke that the U.K.'s Financial Services Authority had charged Dorsey & Whitney partner Andrew Rimmington with insider trading related to a 2006 pharmaceutical merger, the firm has announced that it has terminated Rimmington, according to Legal Week, an Am law Daily sibling publication.

The firm was careful to specify that Rimmington apparently acted alone in allegedly trading on nonpublic information about Novartis's takeover of Neutec Pharma, according to Legal Week. Also facing charges in the case: Peter King, Neutec's former financial director, and Michael McFall, a former partner at McDermott Will & Emery

Dorsey and McDermott both have said the firms did not have any advisory role on the Novartis-Neutec deal, according to Legal Week. All three men are scheduled to appear in court in June.

Let's conclude with a question for readers who've seen the fourth Terminator movie:
Does the internal narrative even make sense anymore? The Am Law Daily left the theater with a headache. 

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