Lawyers Find Limelight, Shine Without It

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The legal industry in Los Angeles has seen its share of the limelight in the past year, with local attorneys representing figures who have drawn outsized attention in media, academic and political scandals. The reality, however, is that this is a tiny slice of the legal work being done here in Los Angeles, and much of the high-level lawyering happens with little fanfare. That’s the way most lawyers like it: A quiet but successful resolution of a dispute or a deal closed is often the best result for a client. In our Law Firms Special Report, we highlight a few under-the-radar trends and how some lawyers support businesses in the region — in some cases with their own venture capital…One of the trends highlighted in our special report is how lawyers are handling clients looking for guidance on a new provision in the federal tax code that designated certain low-income areas as “opportunity zones.” The work has been a mixed bag for lawyers since the law went into effect about a year ago, but many think they could reap rewards down the line. It’s hard not to see the potential for billings when high-profile folks such as casino magnate Steve Wynn are reportedly looking at how to take advantage of the tax incentive. Wynn, who was ousted as chief executive and chairman of his eponymous resort business last year after sexual misconduct allegations surfaced, is apparently looking to reinvest at least a portion of the $2.1 billion he received as part of a buyout package into opportunity zones, according to a Wall Street Journal report last week. It remains to be seen if Wynn goes through with the investment, but the news of his interest has the legal and broader business communities watching closely…Lawyers are often seen as a buttoned-up crowd, but there’s a group of attorneys who have been rocking out – quite literally – for almost a decade. Law Rocks USA, a nonprofit foundation that puts on benefit concerts headlined by attorneys cum musicians, is kicking off its 8th annual tour in Los Angeles at the Whiskey A Go Go on the Sunset Strip with two shows on March 21 and March 22. The battle-of-the-bands-style concert pits lawyers against each other with a goal to raise money for a variety of worthy causes. The organization said it’s raised more than $3 million since it was founded in 2009…The ownership group behind the Santa Anita Park horseracing track announced major changes to its rules after another horse died at the venue last week. The death was the 22nd since December, and the carnage has drawn national attention to the track and the dark side of the sport. Santa Anita is considered California’s premiere horseracing venue and is often the site for the annual Breeders’ Cup, one of the biggest events in the sport outside of the Triple Crown races, the Kentucky Derby, Preakness Stakes and Belmont Stakes. The ownership group behind Santa Anita, Toronto-based Stronach Group Inc., said as part of reforms at the track that it would ban the use of drugs and whips on race days.

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