Dallas-based Texas Coastal Energy Company and its CEO committed federal securities fraud by lying to investors and misappropriating $2.6 million of their money, the U.S. Securities and Exchange Commission said Tuesday.
The North Texas corporate legal industry has experienced monumental structural changes during the past year, but the business law community is suddenly facing the possibility of a major disruption that could change how business M&A law is practiced in Dallas for the next generation.
As summer approaches, many Texas businesses are preparing to welcome interns into the workplace. Companies considering unpaid internships should be aware of the Department of Labor’s new seven-factor test for determining whether or not interns must be paid as employees. Jordan Faykus and Emily Harbison of Baker McKenzie provide an analysis of this new legal standard.
A group of Dallas lawyers from Munck Wilson Mandala made patent history Tuesday by securing a laser detection technology patent for Raytheon. It is the 10 millionth patent to be issued in the U.S. since George Washington issued the first in 1790 to Samuel Hopkins for potash, an ingredient used in fertilizer.
For the past four years, Dallas lawyer Randy Johnston has been quietly representing the author of No Easy Day, a controversial book by a former U.S. Navy SEAL about the raid that resulted in the death of Osama bin Laden. The book gained notoriety after it was published without Pentagon review, a circumstance Johnston says was the result of bad advice from an Indiana-based lawyer. The lawyer’s bad advice resulted in a pair of federal investigations, the loss of $6.6 million in royalties intended for charity and a load of vitriol from the press. Two weeks ago, a federal magistrate cleared the way for a trial in the case, and Johnston says he is determined to set the record straight. The Texas Lawbook brings the case up to date.
Today, I am pleased to announce that The Texas Lawbook has reached and surpassed 10,000 paid subscribers – 2,359 of whom are general counsel or corporate in-house counsel.
The time has come to eliminate venue shopping in corporate bankruptcies and restructuring. Based on my first-hand experience leading American Airlines’ corporate restructuring in a distant locale, it is my view that Congress should amend the bankruptcy laws and eliminate venue shopping. U.S. corporations should be required to file bankruptcy cases in their hometown jurisdiction. This exclusive Texas Lawbook article explains why.
A state court in Fort Worth has denied requests by Chesapeake Exploration and Total E&P USA to dismiss claims in multidistrict litigation brought by North Texas mineral interest owners over “sham” transactions tied to royalty payments. The ruling continues a widespread rebellion by mineral rights owners who claim the Oklahoma City energy giant cheated them on royalty payments. Details in The Texas Lawbook
The 80-year-old scion of a Dallas oil and gas production company has sued the owners of Restland Cemetery for allowing the removal of his parents’ remains to another cemetery without his consent. The suit, though filed against Restland, evolved from a long-simmer business dispute between Dorfman and his late brother’s children. Natalie Posgate has the vivid details.
DBJ: Lawsuit Alleges Fraud by Toyota Music Factory Developer, Seeks to Block Payment of $44M From Irving
Dallas attorney Larry Friedman filed a lawsuit Wednesday attempting to block the North Carolina-based developer of the Toyota Music Factory from receiving $44 million in public money. Friedman filed on behalf of an Irving taxpayer advocacy group, alleging that Charlotte-based ARK Group cut corners during construction to gain certificates of occupancy by certain deadlines. Bill Hethcott of The Dallas Business Journal has the story.