Legal Opinion
Jacoby & Meyers, LLP v. Presiding Justices of the First, Second, Third & Fourth Departments, Appellate Division of the Supreme Court
District Court, S.D. New York
Decided March 8, 2012No. 11 Civ. 3387 (LAK)PublishedCited by 4 opinions
1Opinion of the Court
MEMORANDUM OPINION
LEWIS A. KAPLAN, District Judge.
Lawyers in the United States are not now permitted to obtain equity investments in their practices from non-lawyers, which precludes them from, among other things, selling stock in their practices to the public. The law firm of Jacoby & Meyers, LLP (“J & M”)1 and an affiliate here seek a declaration that Rule 5.4 of the Model Code of Professional Conduct, as adopted in New York, which is among the New York laws and regulations that embody that principle, is unconstitutional.2 They argue that the prohibition on non-lawyer equity investment…
2Cases cited10 opinions
- Lujan v. Defenders of WildlifeSupreme Court of the United States · 1992
- Allen v. WrightSupreme Court of the United States · 1984
- Railroad Comm'n of Tex. v. Pullman Co.Supreme Court of the United States · 1941
- John C. Norton v. Sam's Club, Wal-Mart Corp., Wal-Mart Stores, Inc.Court of Appeals for the Second Circuit · 1998
- Matter of Co-Operative Law Co.New York Court of Appeals · 1910
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3Cited by4 opinions
- Jacoby & Meyers, LLP v. Presiding Justices of the First, Second, Third & Fourth Departments, Appellate Division of the Supreme Court of New YorkCourt of Appeals for the Second Circuit · 2017
- Xiotech Corp. v. Express Data Products Corp.District Court, N.D. New York · 2014
- Jacoby & Meyers, LLP v. Presiding Justices of the First, Second, Third & Fourth DepartmentsDistrict Court, S.D. New York · 2015
- Jacoby & Meyers v. the Presiding JusticesCourt of Appeals for the Second Circuit · 2017