The company leaders behind both The Williams Companies and Energy Transfer have taken the stand in the final trial involving companies’ contentious legal battle over their failed $38 billion merger. Both got grilled, but one CEO’s cross-examination appeared to be more brutal than the other.
Day 1: Witnesses say ETE Offering Was ‘Seriously Adverse’ to Williams Investors in $38B Merger
Key negotiators for The Williams Companies in its failed 2016 merger with Energy Transfer Equity testified Monday in the Delaware Court of Chancery about an equity offering executed by ETE that they say breached the parties’ $38 billion merger agreement because of how unfair it was to Williams shareholders. But they didn’t go unchallenged on cross-examination.
$410M+ Merger Breakup Trial Begins in Delaware Next Week
The final chapter of Energy Transfer and Williams’ legal battle over their failed mega-merger from 2016 will unfold in a six-day trial that begins Monday in Delaware. If you forgot what they’re still fighting about, not to worry. Natalie Posgate has the who, what, when, where and why to refresh your memory.
Fort Worth Judge Dismisses Shareholder Derivative Suit Against Six Flags Board
For the second time this spring, a Fort Worth federal judge has dismissed with prejudice a lawsuit that stemmed from a business deal that fell apart between Arlington-based Six Flags Entertainment Corp. and Riverside Investment Group related to the development of Six Flags parks in China.
Jury Clears Dril-Quip, Engineer of Liability in Trade Secrets Trial — Updated
A Houston jury ruled Thursday afternoon that Houston-based TechnipFMC did not own trade secrets related to subsea drilling designs that the company had accused hometown rival Dril-Quip and ex-FMC engineer Rick Murphy of misappropriating, handing FMC a take-nothing verdict.
Lawyers for Dril-Quip and Murphy said they were thrilled with the result. An attorney for FMC said the company respects the verdict, but promised an appeal.
Defense Lawyers in Trade Secrets Trial Against Technip FMC: Where’s the Beef? — Updated
For a day and a half, a Houston jury has been weighing whether Houston-based Dril-Quip and one of its engineers stole trade secrets from TechnipFMC, a rival competitor in the subsea drilling industry, and if so, how much those trade secrets are worth. They return Thursday morning to continue the debate.
APCON Scores Defense Patent Win in EDTX
A federal jury in East Texas has cleared patent infringement liability for APCON Inc., an Oregon-based network security company with significant operations in Plano. The jury also invalidated five patents owned by the plaintiff, Gigamon.
WDTX Jury: No Dough for VLSI in Second Trial Against Intel — Updated
Nearly two months after a Waco jury rendered a $2.175 billion verdict for VLSI in the first installment of its three-part patent infringement legal battle with Intel, a separate jury in the same courtroom Wednesday rendered a victory for Intel, sending hedge fund-owned VLSI home with zero dollars. Legal experts told The Lawbook why they thought Intel had better success this time around.
13 Years Later, Trade Secrets Legal Battle Is Over … Almost
A decade-plus-old trade secrets legal battle is closer to a resolution after a jury awarded $86 million to Plano-based AMS Sensors USA on Friday. The litigation has gone before two East Texas juries, two federal trial judges and the Federal Circuit. Natalie Posgate details the twists and turns for AMS and its lawyers at Munck Wilson Mandala.
Roku Scores Defense Patent Verdict in WDTX… Again
For those following the patent jury verdicts unfolding in Judge Albright’s court, the game count is now tipping toward defense wins, 2-1. Roku was the latest to score a defense win on Friday, which came after a separate defense win Roku scored in October during Judge Albright’s first patent jury trial. But those aren’t even the most notable facts of the case. Natalie Posgate has the details.