Mark Shank was a high school sophomore when he read a novel by Irving Wallace called The Seven Minutes, a legal thriller about a First Amendment trial over the banning of a book considered “the most obscene pornography ever written.” The lawyer in the book won an historic jury victory and convinced a teenaged Shank he should become a lawyer. Five decades later, Shank is the author of the 2022 edition of The Texas Litigator’s Guide to Departing Employee Cases. The Texas Lawbook interviewed Shank about his life, legal career and the behind-the-scenes making of his book.
TX GC Forum Honors Mary Kay’s Julia Simon for Ethics and Law
Last week, the Texas General Counsel Forum honored Mary Kay Chief Legal Officer Julia Simon with its Robert H. Dedman Award for Ethics and Law. Kimberly-Clark Deputy GC Shonn Brown introduced Simon, calling her “a fierce advocate for justice and equity.” Simon said she accepted the award “knowing it’s my job to strive to live up to standards this award represents every day. I accept it knowing it’s not just for what I have done in the past but what I intend to do, now and in the future.” The Texas Lawbook has the exclusive details.
Yvette Ostolaza is ‘First Texan to Lead a Global Law Firm’
Yvette Ostolaza, a first-generation Cuban American who grew up in a working-poor neighborhood in Miami, learned English from Sesame Street and almost didn’t go to college. On Friday, Ostolaza becomes chair of the management committee of Chicago-founded Sidley Austin, a 2,000-lawyer global corporate law firm that reported nearly $2.8 billion in revenue in 2021. She is the first Latina and the first Texan to lead a top 50 global corporate law firm. Ostolaza joined Sidley from Weil Gotshal in 2013 as the leader of the infamous “Seven-Plus-One.” During her time leading Sidley in Dallas, the firm has tripled its Texas lawyer headcount and quadrupled the revenues it generates in the state, according to The Texas Lawbook 50.
Texas Appeals Court Hears Arguments on Legality of $9,000 Electric Rates During Winter Storm Uri
The Texas Public Utility Commission’s February 2021 emergency rules allowing an increase in electric rates to $9,000 per megawatt hour in response to Winter Storm Uri were “invalid and ineffective” and “wreaked havoc” on the state’s power system, lawyers representing several large energy companies told a Texas appeals court Wednesday. A decision by the Austin Court of Appeals could impact the efforts by more than a dozen electric providers challenging billions of dollars in ERCOT invoices.
All-Women Slate of Appellate Advocates to Argue Historic Winter Storm Uri Case
Lawyers for some of Texas’ largest energy companies and their government regulators are scheduled to argue one of the most important cases resulting from Winter Storm Uri last year and the line-up includes some of the most prominent women appellate experts in Texas. The question is whether the Texas Public Utility Commission illegally adopted rules during the historic storm that allowed the Electric Reliability Council of Texas to increase the price of electricity 650 percent for nearly a week. Billions of dollars for several major energy companies are at stake.
Dawud Crooms Joins Atlantic Aviation as GC
Dawud Crooms, an in-house lawyer who led Dallas retail giant 7-Eleven through 15 acquisitions with a combined deal value of about $30 billion during the past seven years, is the new general counsel at Atlantic Aviation, a private airline support-services operation. During his seven years at 7-Eleven, Crooms played a leading role in the convenience store chain’s purchase of Sunoco for $3.3 billion and its 2020 acquisition of Speedway for $21 billion.
Texas Mutual’s GC Retires After 26 Years as Workers’ Comp System’s Most Ardent Advocate
Mary Barrow Nichols retires Friday after 26 years as general counsel with a new startup building upon the wreckage in the mid-1990s of the Texas workers’ comp system. The new startup? Texas Mutual Insurance Co. “You are now the person who cares more than anyone else about how the new Texas workers’ compensation law works,” her then-mentor, David Brown, told her as she left Vinson & Elkins. “It turns out,” she says, “he has been right for 26 years.”
Former SEC Enforcement Lawyer Looks Back and Forward
Federal regulators will focus more resources on special purpose acquisition companies seeking to go public because the increased frequency of so-called de-SPACing could lead to a jump in improper accounting, financial misstatements and even fraud. That’s according to Rebecca Fike, who spent the past 10 years at the SEC’s Fort Worth Regional Office prosecuting violators of accounting and financial fraud, who said cryptocurrency, corporate governance and de-SPACing are “ripe for potential securities issues” to be investigated by the federal agency.
SEC Issues Draft Climate Change Disclosure Requirements — Updated
The biggest impact, according to legal experts, will be to corporations in the energy industry and those with a significant amount of greenhouse emissions. Experts from V&E, Winstead, Porter Hedges, Winston & Strawn, Bradley and Sidley share their insight and analysis on the new proposed rules.
Michael Piazza, Advisor for the Oaks, Jumps to Gibson Dunn
For the second time in less than a week, a top corporate partner in Willkie Farr’s Houston office is joining a competitor.