In lieu of closing arguments, the company and the U.S. government agreed to file post-trial briefs with Chief Judge David C. Godbey of the Northern District of Texas, who presided over the weeklong tax dispute trial stemming from ExxonMobil’s natural-gas mining venture with Qatar.
SCOTUS Narrows Application of Exchange Act Rule 10b-5(b) to Half-Truths
Until last week, federal circuit courts were split on whether so-called “pure omissions” could support securities fraud claims under Securities Exchange Act Rule 10b-5(b). For those not fluent in the application and enforcement of Rule 10b-5(b), its text does not exactly roll off the tongue and its concepts can be tricky to apply in practice.
ExxonMobil Demands IRS Refund, Claiming $1.9B Tax Overpayment
In a bench trial before Chief Judge David C. Godbey of the Northern District of Texas, the oil giant claims the government erred by rejecting, for tax purposes, its “partnership” with the government of Qatar in a huge natural gas project.
Voting Underway on State Bar’s Proposed Rule Changes
Most of the proposed rules on the State Bar of Texas rules vote ballot are similar to American Bar Association rules and modernize Texas laws, an expert said. The voting period closes April 30.
Operator of Phony Labs Gets 5 Years in $7M COVID-19 Testing Scam
“I make no excuse for my actions,” Connie Jo Clampitt of Dallas, one of four people to plead guilty in the healthcare fraud case, tells U.S. District Judge Brantley Starr.
Kirkland’s Sarah Mallett on the SEC’s Whistleblower Efforts, Disclosures Involving AI and Challenges Facing the FWRO
In this Q&A with The Lawbook, Mallett discusses her time at the SEC, the challenges facing the SEC’s Fort Worth Regional Office, the SEC’s expansion of its whistleblower program and the impact on Texas businesses, and other SEC enforcement trends that impact companies and those in the financial investment world.
FW SEC Office Penalizes NY Investment Firm $6.5M for Failure to Preserve Electronic Records
According to an SEC order, employees of Senvest Management, which oversees $3 billion in assets, repeatedly discussed company business in personal texts and other “off-channel” platforms in violation of federal securities laws.
SEC Assistant Director of Enforcement Joins Kirkland in Dallas
A veteran enforcement lawyer with the U.S. Securities and Exchange Commission has joined Kirkland & Ellis’s Dallas office as a partner.
Retired Dallas FBI Agent’s Accomplice in Bizarre ‘Secret Probation’ Scam Gets 70 Months
Joseph DeLeon, who helped former FBI agent Bill Stone cheat a Granbury woman out of more than $750,000, apologized and said he, too, was a victim of the grift. But U.S. District Judge Ada Brown was having none of it.
Former Senior SEC Lawyer Scott Mascianica Leaves Holland & Knight for Hilgers Graben
Mascianica joins the firm as a partner and head of its Government Investigations and Regulatory Enforcement group. Mascianica shares why the career move was “too good of an opportunity to pass up” in an interview with The Lawbook.
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