One of five banks facing a multibillion-dollar fraud trial next month in Houston for providing financial services to Ponzi scheme perpetrator R. Allen Stanford and his investment firm has agreed to settle its part of the case for $100 million. Mississippi-based Trustmark Corporation, the parent of Trustmark National Bank, agreed late New Year’s Eve to pay the $100 million instead of facing a federal jury alongside four other banks accused of “aiding, abetting and participating in the fraudulent scheme” perpetrated by Stanford and his associates.
‘Medical Emergency’ Forces Mistrial in Oft-Delayed $158M Pharmacy Fraud Case
After eight aborted settings since 2017, the trial on bribery and kickback charges was under way in Dallas when a defense lawyer needed surgery. Rather than resuming after a monthlong delay — and making jurors work through the holidays — U.S. District Judge Sam Lindsay rescheduled the trial for next September.
Senior U.S. District Judge Thad Heartfield Dies
Senior U.S. District Judge Thad Heartfield, who served in the Eastern District of Texas, died Tuesday. He was 82.
Fort Worth Bank, Former VP Allegedly Aided Home Flipper’s Ponzi Scheme
Bankruptcy trustee James E. Cross alleges Dallas-area home flipper Skyler Aaron Cook, who has filed for bankruptcy in Arizona, defrauded investors out of at least $3 million in a scheme aided by Valliance Bank. The bank and its former executive vice president have denied the allegations.
Top Commercial Litigation in 2022
As restrictions imposed during the COVID-19 pandemic were rolled back in 2022, courts across the state went to work adjudicating long-delayed cases. Here, in no particular order, The Texas Lawbook looks back on some of the most significant litigation Texas lawyers handled in 2022.
Remembering Fort Worth Federal Judge John McBryde
Senior U.S. District Judge John McBryde of Fort Worth was old school and hardcore, viewed as the epitome of a federal judge and always regarded as the lord of his courtroom. Criminal defense lawyers compared him to the hanging judges of the Wild West because of the lengthy prison sentences. But other lawyers and judges say he was a fierce protector of the rule of law and the right to trial by jury. Judge McBryde, appointed to the federal bench in 1990 by President George H.W. Bush, died Sunday. He was 91.
Dallas Jury Awards $15M in Asset-Moving Default Judgment Case
The jury deliberated for about three hours before siding with Maiden Biosciences on Tuesday morning. Over five days of testimony 15 witnesses were called, including five experts.
Litigation Roundup: SCOTX Grants Highlighted, Poultry Prep Patent Invalidated and Panel Decides Astronaut Artifacts Spat
In this week’s edition of litigation roundup, appellate rulings take center stage. The Texas Supreme Court granted review in a tax dispute between Kinder Morgan and a school district and allowed a sex trafficking lawsuit against Salesforce to proceed. In the Fifth Circuit, a former general counsel and staff attorney at a Louisiana college appeal to revive their pay discrimination and retaliation suit.
Steeped in Conflict, Insurance Bar Works Together to Navigate Evolving Legal Landscape
In sheer numbers, insurance coverage disputes arguably generate more litigation than any other. The American College of Coverage Counsel recently held its annual Insurance Law Symposium at SMU in Dallas to share best practices and explore cutting-edge and emerging issues. Practitioners also addressed two cases on this year’s Texas Supreme Court docket.
Government Touts $38.5M Recovery in Case it Argued ‘Never Should Have Proceeded This Far’
Five years after first arguing that the False Claims Act Lawsuit against Academy Mortgage Corporation should be dismissed, the Department of Justice publicized the $38.5 million settlement on Wednesday. This lawsuit marked the first time a judge denied the government’s motion to dismiss an FCA suit, presenting an issue of first impression to the Ninth Circuit panel that heard the case. Earlier this month, a case that asks what authority and discretion the government should have to dismiss whistleblower actions was heard by the U.S. Supreme Court.
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