Sidley Austin

Sidley Austin LLP
Sidley Austin
HeadquartersOne South Dearborn
Chicago, Illinois
No. of offices20 Worldwide [1]
No. of attorneys2,000[2]
Major practice areasGeneral practice
RevenueIncrease 2.036 billion USD (2018)[3]
Date founded1866
FounderNorman Williams and
John Leverett Thompson
Company typeLimited liability partnership
Websitewww.sidley.com

Sidley Austin LLP, formerly known as Sidley Austin Brown & Wood LLP, is the sixth-largest U.S.-based corporate law firm with 2,000 lawyers[2] and annual revenues of more than two billion dollars. The firm is one of the highest paying companies in the U.S.[4] (with a base salary of $190,000 for first year associates and $340,000 for eighth year associates; partners see a profit of $2.2 million annually).[5] Today, Sidley has offices in 20 cities worldwide, with the most recent addition of Munich in 2016. It is a full-service law firm, with broad experience in transaction and litigation matters. Its original predecessor firm was founded in 1866 and had former first lady Mary Todd Lincoln, the then widow of President Abraham Lincoln, among its earliest clients. The firm was formed as the result of the merger of two firms: the Chicago-based Sidley & Austin, founded in 1866, and the New York-based Brown & Wood, founded in 1914.[6] The merger was completed in May 2001. The firm's headquarters is at One South Dearborn in Chicago's Loop.[7]

In each year since the survey's inception, Sidley has received more First-Tier National Rankings than any other U.S. law firm in the Best Law Firms Survey by U.S. News & World Report.[8] The 2015 U.S. News Survey also named Sidley as the "Law Firm of the Year" in International Trade and Finance Law as well as Litigation – Securities.[9] As of 2014, it was the 13th largest law firm in the world (and 8th in the US) by revenue.[10]

History

Origins in Chicago

The firm that was to become Sidley Austin was formed in Chicago in 1866 by Norman Williams and John Leverett Thompson as the partnership of Williams & Thompson. One of the nascent firm's first clients was the Pullman Company, the manufacturer of specialty sleeping railway cars. Other early clients included Western Union Telegraph Company, which moved its Midwest headquarters from Cleveland to Chicago in 1869. After the Great Chicago Fire of 1871, the firm represented numerous insurance companies including Equitable Life Assurance Society. In 1892, William Pratt Sidley joined the firm after having earned an LLB from Union College of Law and a M.A. from Harvard Law School. By 1913, the firm's name was changed to Holt, Cutting & Sidley, although Sidley would be the guiding personality for the Chicago firm through the 20th century. Three years later—the firm then fifty years old—had four partners, four clerks (associates), and ten staff employees with gross income of around $100,000 (roughly $1.9 million in 2008 dollars).

Buffeted by the Great Depression, the firm experienced a dramatic fall in revenues until the New Deal in the 1930s reinvigorated the capital markets. The firm represented Halsey, Stuart & Co., a Chicago-based underwriter in one of the first transactions under the Securities Act of 1933. In 1944, the name was changed to Sidley, Austin, Burgess & Harper and shortened to Sidley & Austin in 1967.

Towards a national firm

After the Second World War, Sidley & Austin began expanding beyond its Chicago roots as many of its clients entered new markets. In 1963, its Washington, D.C. branch was established which would soon become an important player in that city's legal market through its representation of the American Medical Association, American Bar Association and the International Minerals & Chemical Corporation. The firm developed strengths in antitrust and the representation of clients in front of the Federal Trade Commission.

Sidley & Austin was among several law firms caught up in the Savings & Loan Crisis and paid $7.5 million to settle legal malpractice claims stemming from its representation of the Lincoln Savings and Loan Association. Such legal work was profiled in the book by Ralph Nader and Wesley J. Smith, No Contest: Corporate Lawyers and the Perversion of Justice in America.

Expansion and consolidation

Sidley & Austin expanded tremendously in the 1970s and 1980s. In 1972, the firm merged with the 50 lawyers of Chicago firm Leibman, Williams, Bennett, Baird & Minow. Offices were established in London, Los Angeles, Singapore and New York in short order.

In 2001, the firm merged with Brown & Wood, a New York-based law firm established in 1914 with 400 attorneys additional domestic offices in Washington, D.C., San Francisco and Los Angeles and overseas branches in London, Beijing and Hong Kong (where it practiced English law in addition to U.S. law). Brown & Wood was known for its securities, structured finance and securitization practices. The firm's well-regarded publication, Accessing the U.S. Capital Markets: An Introduction to United States Securities Law, continues to be updated annually today. Brown & Wood had offices in the World Trade Center. The firm was known as Sidley Austin Brown & Wood until the name was rebranded as Sidley Austin in 2006.

Appellate Practice Group

In 1985, U.S. Solicitor General Rex E. Lee founded Sidley Austin's Appellate Practice Group to represent clients in all appellate courts, including the United States Supreme Court, the federal courts of appeals, and state appellate and supreme courts. Following Lee's death, the group was led by Carter Phillips, who has argued more cases before the Supreme Court than any lawyer in private practice[11] and who now chairs the firm's executive committee.[12] The current co-chairs of the practice group are former Acting Attorney General Peter Keisler and former Principal Deputy Associate Attorney General Joseph Guerra.

The Appellate Group has argued several landmark cases before the Supreme Court including U.S. Term Limits, Inc. v. Thornton (constitutionality of state-imposed term limits on members of Congress), Missouri v. Jenkins (proper role of federal courts in imposing desegregation remedies), and United States v. Lopez (Commerce Clause challenge to a federal statute prohibiting the possession of firearms within 1,000 feet of a school).[13][14] Directly or indirectly, Sidley Austin plays a role in 40 percent of the cases the Supreme Court hears every term. Over the last 30 years, its lawyers have argued 115 high court cases.[15]

On March 19, 2015 the U.S. Court of Appeals for the Federal Circuit ruled that a client of Sidley Austin, AT&T Inc., filed its appeal too late in a patent infringement case, which cost AT&T its right to appeal a $40 million adverse judgment. The Federal Circuit held that a team of lawyers from the firm failed to file a notice of appeal within the requisite thirty days after a federal district court denied several post-trial motions. The court affirmed the district court's ruling that it was "troublesome" that none of the eighteen lawyers and assistants who received the electronic notices "bothered to read the orders issued by the court."[16][17]

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