U.S. News and Best Lawyers, the leading survey of lawyers worldwide, announced last year that the two publications have teamed up for an expansion of U.S. News's signature "America's Best" series to include new rankings of "America's Best Law Firms" and "America's Best Law Firms to Work For."

We want to give an update on the status of these new rankings. The ranking projects continue to make progress on the collection of client references and associate references from law firms. The vast majority of America's major law firms have provided the requested information. As with other rankings published by U.S. News, we believe that we will be able to secure from various sources quantitative data concerning those law firms that do not provide the requested statistical data directly to U.S. News and Best Lawyers.

Combined with the qualitative reviews of the firms by clients —more than 50,000 client references have already been accumulated—and qualitative peer-reviews by leading lawyers, this will enable the publication of valid rankings for all major law firms, both large and small, across the United States in the inaugural year. In time, it is expected that an increasing number of the ranked law firms will participate in the process.

Four law firms have been included in this year's Workplace Equality Index compiled by gay rights charity Stonewall.

The index, which ranks the top 100 gay-friendly employers in the UK, included Simmons & Simmons as the highest-ranked law firm in 15th place, up from 31st place last year.

Elsewhere, Pinsent Masons ranks 36th, up from 50 in 2009, Herbert Smith moves from 77th to 56th position and Eversheds has risen to 85th up from 100 last year.

In total, 24 law firms submitted entries to Stonewall this year.

Computing giant IBM topped the rankings for the second time in four years, replacing last year's winner Lloyds TSB.

The process sees companies nominate themselves to participate through an online survey giving evidence of their policies. An anonymous staff survey is then carried out, which this year saw 7,000 lesbian, gay and bisexual participants. The top 20 finalists are then separately audited.

Stonewall chief executive Ben Summerskill said: "We received more entries than any previous year from employers who understand and have benefited from Stonewall's research which found that gay people are far more likely to buy goods or services from companies they know are gay-friendly."

Last year, law firms chose to buckle down and manage their expenses instead of expanding their businesses with mergers and acquisitions, according to recently released data.

In 2009 there were 53 new law firm mergers and acquisitions in the U.S. That was down 24 percent over 2008’s total, according to a report from legal research firm Altman Weil MergerLine.

About 79 percent of 2009’s deals involved the acquisition of small law firms with 20 or fewer lawyers, per the report.

“This reflects law firms’ cautious approach last year, as most firms spent 2009 focused on internal issues of cost cutting, layoffs, and compensation adjustments in response to the Great Recession,” said Altman Weil principal Ward Bower, in a statement. “But we expect to see an uptick in 2010 as deals currently on hold pending 2009 year-end results are finalized.”

One of the big exceptions to that, which was cited in the report, involved Boston-based Bingham McCutchen, which acquired McKee Nelson, a 120-attorney firm, in August. Another big deal saw K&L Gates, which has a large presence in Boston, acquire Bell Boyd and Lloyd in January.

The biggest deal, per the report, was the merger of the U.K.’s Lovells LLP with Washington, D.C.-based Hogan & Hartson. When that deal is ultimately finalized in May of 2010, it will be the second largest law firm merger ever accomplished, forming a 2,500-lawyer firm, according to Altman Weil.

A federal judge threw out the fraud conviction of Chicago's former streets and sanitation commissioner Tuesday and granted him a new trial on charges of illegally rewarding political campaign workers with city jobs.

Al Sanchez was convicted at the high profile trial based on testimony from a key witness whose arrest record and gang affiliations should have been disclosed beforehand to defense attorneys but were not, Judge Robert W. Gettleman said.

FBI agents based in Indiana also should have told prosecutors in Chicago that the witness, Brian Gabriel, was under investigation in a gang war between the Spanish Vice Lords and Latin Kings at the time of the trial, Gettleman said.

And the prosecutors could have learned of that investigation if they had performed a records search, Gettleman said in his 22-page opinion.

"Based on these findings, this court has lost confidence in the integrity of the verdict convicting these defendants," Gettleman said in his 22-page opinion.

Gettleman also ordered a new trial for a youthful former aide to Sanchez, Aaron Delvalle, who was convicted of one count of perjury at the March trial.

The trial attracted the spotlight because as streets and sanitation commissioner Sanchez headed a department that for decades was a major pool of patronage jobs for the once mighty Chicago Democratic Machine. That spotlight was intensified because in recent years the U.S. attorney's office has conducted a major investigation of hiring fraud at City Hall.

Lyondell Chemical Co. settled a lawsuit brought by its unsecured creditors against bank lenders to help the chemical company reorganize in bankruptcy. The creditors don't support the agreement.

The settlement, which still needs court approval, resolves a lawsuit brought by the creditors on behalf of Lyondell against the company's bank lenders related a 2007 buyout, Lyondell spokesman David Harpole said in a phone interview.

Creditors' lawyer Steven Pohl said while his clients don't support the deal, under bankruptcy law Lyondell owns the creditors' claims and has the right to settle.

“Its especially unusual on the eve of a trial for the debtor to come in and settle when the parties have spent four months getting ready for trial,” said Pohl in a phone interview.

The proposed settlement would give the creditors a cash payment of $300 million when Lyondell exits bankruptcy, and establish a litigation trust to fund lawsuits against third parties. The accord was reached after a mediator, whose appointment was announced Nov. 9, failed to resolve the dispute, Harpole said.

“This clears the path for us to move forward with filing an amended disclosure statement and exiting bankruptcy,” Harpole said.

Lyondell's creditors and lenders accepted the appointment of mediator Myron Trepper “for the purpose of facilitating settlement discussions,” U.S. Bankruptcy Judge Robert Gerber said in court papers filed Nov. 9. The lawsuit, filed July 22, sought a trial to determine damages.

The lawsuit claimed Lyondell's 2007 buyout, financed with $22 billion in borrowings, left the company with too much debt and caused it to fail a year later. The suit names Lyondell's parent, Netherlands-based LyondellBasell Industries AF, and banks including ABN Amro Bank NV, Citibank NA, Goldman Sachs Group Inc., Merrill Lynch & Co. and UBS AG.

NORWALK, Conn. — Xerox Corp. said Monday that a pension fund hasdropped a lawsuit over provisions in the copier company's purchase ofAffiliated Computer Services Inc. that would have made it tough for abetter buyout offer to succeed.

Xerox said the plaintiffs, Cityof St. Clair Shores Police and Fire Retirement System in Michigan,ended the litigation after the copier company agreed to removeroadblocks to a superior offer for ACS.

Xerox agreed that if theACS board receives a better offer to its $5.6 billion cash-and-stockbid for ACS, the copier company will not require ACS Chairman DarwinDeason to vote his shares in favor of Xerox.

The previousagreement would have forced Deason to give half of his votes to supportthe Xerox bid. He controls a 44 percent of the votes at ACS.

Xerox also won't force ACS to hold a shareholders meeting to vote on the Xerox bid but instead end the merger if requested.

The lawsuit was filed in October in Dallas County, Texas. A separate shareholder class action lawsuit is pending in Delaware.