Delaware has been the US corporate capital for about a century. But a wave of high-profile departures—amid a barrage of attacks from Elon Musk—has many members of the state's corporate community worried about the future.Although the world's richest man has been trying to provoke a corporate exodus for more than a year, the increasingly powerful Musk isn't the only critic of recent Delaware court rulings. Other stakeholders, such as the state's influential corporate defense bar, also say Delaware law has been evolving in a direction hostile to business leaders and controlling stockholders.At the same time, there's a lot of buzz about Nevada—which presents itself as a sort of anti-Delaware—and Texas, which recently set up a new commercial court to compete with the famous Delaware Chancery Court. It's still too early to stay if the "DExit" will widen from a trickle into a flood.On this episode of our podcast, Bloomberg News reporter Jef Feeley and Bloomberg Law senior correspondent Jennifer Kay discuss the latest developments out of Delaware.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

At its height, the influential SCOTUSBlog provided Supreme Court coverage that drew comparisons to the comprehensive way ESPN reports on sports. But while the blog was becoming required reading for attorneys, law students, and journalists, its founder was allegedly racking up millions in gambling and tax debts.High-profile Washington attorney Tom Goldstein was indicted last month on federal charges allegedly tied to an ultra-high-stakes poker hobby involving billionaires, professional gamblers, Hollywood stars, and trips to Macau.Goldstein—a seasoned litigator known as a risk-taker both in court and at the poker table—was arrested Feb. 10 after prosecutors said he violated the terms of his release by hiding cryptocurrency accounts from pretrial services and transferring funds without approval. He has since filed an emergency motion challenging his detention.On this episode of our podcast, investigative reporter Alexia Fernández Campbell and legal reporter Holly Barker discuss the story that’s riveting the legal world.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

Big law firms are increasingly feeling pressure to grow, and many use mergers with other firms to expand. But a recent Bloomberg Law analysis reveals that about two-thirds of the 18 largest mergers within the past 15 years saw slower revenue growth than their competitors.Bloomberg Law reporter Meghan Tribe joins the podcast to talk about why firms merge, what challenges they face, and what the most successful mergers look like.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

People are always finding new ways to listen to music, from vinyls and cassettes to stolen downloads and paid streaming services.So, how is the music business holding up? Who’s making the money today? And what's in store for musicians with the growth of artificial intelligence?On this episode of our podcast, On the Merits, Bloomberg Law’s Roy Strom dives into those questions and more with Sid Fohrman, chair of the music industry practice at Paul Hastings.The Los Angeles lawyer, who joined the firm from Willkie Farr & Gallagher last month, has advised on deals involving Lady Gaga, David Bowie's estate, and Taylor Swift. He's also a musician himself who packed his bags early in his legal career and headed from Chicago to Hollywood to take a chance following his passion.Fohrman has had a seat at the table as the music industry figured out how to make your favorite songs ubiquitous. The real challenge is how to make money—and how to make the money go where it should. That’s where Fohrman thinks the industry can do a better job.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Big Law has long feared that the Big Four accounting firms–Deloitte, PWC, KPMG, and EY–would start practicing law in the US. Now, that may soon be a reality.Big law's fear is that the Big Four has scale that dwarfs even the largest US law firms, and its dominance in legal technology could lead to a paradigm shift in how legal services are delivered.But American lawyers have always had a safety net. The ethical rules for lawyers say that non-lawyers can’t own law firms. This has put a fence around US law firms that has kept out the Big Four.Now, a couple of states, including Arizona, have changed these rules to allow non-lawyer ownership. KPMG has applied to practice law in Arizona.On this episode of On The Merits, Bloomberg law reporters Justin Henry, Amanda Iacone, and Roy Strom discuss KPMG’s big move and what it could mean for the legal industry.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

When Russian chemicals magnate Oleg Burlakov died of Covid, he left behind a $3 billion fortune that prompted an international legal battle among feuding members of his family.In one corner stand his sister and brother-in-law, who say they had a secret agreement with Burlakov entitling them to half of what he left behind. In the other: His estranged widow and adult daughters. Their fight over Burlakov’s billions has led to litigation in London, Moscow, Monaco, and Miami.Now, the Miami case—before a state court judge—has been complicated by the potential involvement of a Russian litigation funder and a Swiss money manager who’s been sanctioned for allegedly facilitating Russian money laundering.On this episode of our podcast, correspondent Emily Siegel and senior investigative reporter John Holland discuss the wrangling over Burlakov's estate and what it tells us about how judges in the US are grappling with sanctions related to Russia’s invasion of Ukraine.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690

Donald Trump’s presidential election had market commenters rushing to conclude that the new administration would yield a flood of corporate dealmaking.But the widely anticipated Trump Bump for deals is already facing hurdles. Interest rates have steadily risen as the fear of inflation remains. Markets are buffeted by every piece of news about potential tariffs. And stock prices have faltered from their initial post-election surge.With Trump now in the White House, has the optimism for a dealmaking surge already withered?On this episode of On the Merits, Bloomberg Law’s Roy Strom spoke with Jennifer Perkins and David Klein, M&A partners at Kirkland & Ellis, the busiest law firm for corporate transactions last year. Kirkland advised on more than $427 billion in global mergers and acquisitions over the year, surpassing rivals like Latham & Watkins, Skadden Arps Slate Meagher & Flom, and Freshfields.Perkins and Klein told Roy the “floodgates” for M&A may not be open right away, but they both expect a strong year for dealmaking ahead. They discussed a backlog of companies private equity funds are looking to offload, how a reinvigorated IPO market could further fuel deals, and how law firms are evolving as private capital markets expand.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.

Today on 'On the Merits,' we revisit our March 2024 episode that explores California's ongoing battle to keep homeowners insured amidst the persistent threat of wildfires.

In this engaging conversation, Kate Rader-Sheik, a partner at Major, Lindsey & Africa, discusses innovative compensation models reshaping the legal industry. She highlights the new tiered billing approach that allows associates to select their billable hours, offering them more control over their careers. Kate also explores the potential benefits and risks of this model for both associates and firms. Additionally, she provides insights on remote work challenges and current trends in associate recruitment, especially in a fluctuating economy.

Elon Musk's six-year saga defending his $56 billion Tesla Inc. pay package in the Delaware Chancery Court has captivated the state's tight-knit legal community and the wider world of Musk watchers, including his more than 200 million online followers.In January 2024, the court's chief judge struck down the pay package, prompting a months-long social media barrage—and a host of novel legal stunts—from the tech titan. In December, the judge rejected the compensation deal again, handing $345 million to the shareholder attorneys who led the case.On this episode of our podcast, On The Merits, senior correspondent Jennifer Kay and reporter Roy Strom discuss the long-running courtroom drama, the lead trial lawyer who took aim at the pay package, and the judge who has repeatedly stood up to the world's richest man.Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690