MTV Networks Changes Channel on Outside Counsel

The tangled bankruptcy mess created by former boy band impresario Lou Pearlman -- currently in prison after admitting he ran a $300 million Ponzi scheme -- has left a trail of out-of-pocket investors looking to recoup their losses. In August 2008 the trustee in Pearlman's ongoing Chapter 11 case sued MTV Networks over its role in a joint venture with Pearlman's television production company. Last week, MTV canned its litigation counsel at K&L Gates in favor of new counsel at Paul Weiss and Holland & Knight.