What were the firm’s biggest or most important (non-client) achievements as a firm in 2020?
Our biggest achievement was our resilience in continuing to grow as a firm and move forward on our long-term plans despite the challenges posed by the coronavirus pandemic. Our highlights included:
· Hired 46 lateral lawyers, including 11 partners, in key markets and practice areas;
· Opened new offices in San Francisco and North Dallas;
· Signed a lease to move our Dallas office in 2023 to a new office tower in the Harwood District;
· Moved into newly renovated offices in Houston.
As a firm, what were your biggest challenges and how did you address them?
Our biggest challenge was to successfully serve our clients in a remote work environment. We navigated that challenge flawlessly thanks to the firm’s massive investments in technology, starting in 2018, which enabled attorneys and staff to have fully operational home offices. Within days of closing our offices, about 95% of our lawyers and staff with remote access to our network had logged in seamlessly from remote locations.
What were three of the most important successes your firm’s Texas lawyers achieved for clients last year?
· Represented Landry’s in a purchase agreement with Landcadia Holdings II, resulting in the sale of Golden Nugget Online Gaming (GNOG) to Landcadia and GNOG becoming only the second pure publicly traded online casino company in the U.S. Landcadia is a publicly traded SPAC co-sponsored by Fertitta Entertainment, Inc. and Jefferies Financial Group Inc.
· Represented Blucora Inc. in its acquisition of HK Financial Services, a fast-growing, CPA-focused registered investment advisor, for an upfront purchase price of $100 million. The acquisition closed July 1, 2020. Based in Irving, Texas, Blucora provides tax-smart financial solutions that empower people’s goals.
· Persuaded a Texas appellate court to overturn a $110 million fraud verdict against client BBVA. The suit was brought against BBVA by a borrower, David Bagwell, who claimed that a BBVA employee made misrepresentations during loan renewal negotiations. A jury in 2017 found in favor of Bagwell, and the trial court entered a $98 million judgment, which, with interest, had grown to $110 million. Haynes and Boone was hired by BBVA after the jury verdict. On Dec. 14, 2020, a three-justice panel of the Fifth Court of Appeals in Dallas unanimously reversed the judgment and ruled that Bagwell take nothing on his claim.
What was the firm’s biggest pro bono/public service success in Texas of 2020?
We had two fundraising campaigns last year for Feeding America, to help the nationwide network of food banks respond to the rise in hunger and food insecurity in the wake of the pandemic. In both campaigns, employee donations far exceeded the firm’s matching pledge. The firm also donated hundreds of pro bono hours, representing about $600,000 in value, to help Feeding America and its member food banks navigate campaign finance, non-profit and labor laws in the context of the 2020 election.
What was the firm’s most significant move forward in addressing diversity and inclusion in 2020?
In the wake of the George Floyd murder, the firm established a diversity taskforce to explore how we can improve the recruiting, retention and promotion of minority lawyers. The taskforce undertook a comprehensive, fact-finding assessment of offices, practices and programs firmwide, including interviewing current and former minority lawyers at the firm, as well as Haynes and Boone board members and practice leaders. The taskforce made recommendations that are now being implemented to foster a culture that is more inclusive and equitable.
What is your No. 1 goal as a law firm for 2021?
We hope to continue the positive momentum we established in 2020 by continuing to bring value to our clients, grow strategically in key markets and practices, and make further progress on our diversity, equity and inclusion goals.