White-Collar/Regulatory Archives

SEC’s Recent Enforcement Actions a Sign of Increased Scrutiny of SPACs

Calls for heightened scrutiny of an emerging alternative to IPOs for going public include recent calls for scrutiny of a SPAC deal involving a media company controlled by former President Trump and a high profile action from the SEC’s Fort Worth Regional Office.

December 6, 2021 Elisha J. Kobre

Feds Fine UTSW $4.5 Million for ‘Shocking Disregard’ of Proper Opioid Controls

The penalty, the second largest of its kind in U.S. history, ends a federal investigation that began after two nurses at Clements University Hospital were found dead from opioid overdoses.

December 1, 2021 Bruce Tomaso

After the Storm: PUC Adopts New Winter Weatherization Rules for Generators and TSPs

In the aftermath of Winter Storm Uri, the Texas Legislature passed SB 3, which among other things required the PUC to adopt certain market-related rules. A key component of the law required the commission to adopt weatherization rules no later than Dec. 1. This new rule will require both power generation companies and transmission service providers to quickly assess a company’s ability to comply with the new rule or navigate the potentially treacherous waters of a good cause exception for noncompliance. But it also means GCs at Texas energy companies have some decisions to make.

November 17, 2021 Mike Tomsu & Jaren Taylor

DBJ: Trial Postponed in Vast Conspiracy, Fraud Case Against UDF Execs

According to court filings, the case against the Dallas-Fort Worth-area firm involves “hundreds of residential developments across North Texas and Austin,” millions of pages of documents and real estate investment funds involving billions of dollars.

November 17, 2021 Bill Hethcock of the Dallas Business Journal

DBJ: New Judge, Filings in High-stakes Case Charging UDF Execs with Cheating Investors, Banks

The criminal case against four United Development Funding executives has a new judge overseeing the case in Fort Worth federal court. Plus, new documents in the case shed light on how federal prosecutors plan to try to prove their case and how lawyers for the accused executives plan to defend them.

November 8, 2021 Bill Hethcock of the Dallas Business Journal

Talent Wars in Texas Expand to White Collar/Investigations

The rash of hiring of federal prosecutors by corporate law firms clearly indicates that leaders believe the white-collar regulatory practice is about to boom in Texas. The latest is Gibson Dunn hiring of former NDTX acting U.S. Attorney Prerak Shah.

October 27, 2021 Mark Curriden

EPA Proposes Landmark PFAS Reporting Rule Affecting Article Importers, Small Businesses

The Environmental Protection Agency’s new pending requirement that companies report their use of forever chemicals could impose a tough burden on companies across many industry sectors. This article breaks down the proposed rule and identifies what Texas companies can do to prepare for compliance.

October 26, 2021 Bryan J. Moore

Updated: Four UDF Execs Indicted & Lawyered Up; Kyle Bass’ Lawyer Speaks Up

A lawyer for one of the four executives of Grapevine-based United Development Funding who have been indicted on federal securities fraud and wire fraud told The Texas Lawbook that the allegations are baseless and vexatious and the result of “the egregiousness of the government’s misconduct” in the case. But a lawyer for Dallas hedge fund manager Kyle Bass, who initially raised the allegations that UDF was a Ponzi scheme in 2015, talked exclusively to The Lawbook about the case. The Lawbook has the in-depth and updated details of the criminal and civil cases in the Northern District of Texas and Dallas County, as well as news of a sealed lawsuit filed in the Eastern District by UDF against the federal authorities investigating them.

October 20, 2021 Natalie Posgate & Mark Curriden

Haynes and Boone Beefs Up White-Collar Practice

During his decade-plus at the U.S. Attorney’s Office in the Northern District of Texas, Nick Bunch handled more than 25 cases involving white-collar fraud. He is Haynes and Boone’s second addition from a U.S. Attorney’s office in Texas this year.

October 18, 2021 Brooks Igo

State Bar of Texas Discipline: 2 Resignations, 5 Suspensions, 1 Public Reprimand

The Texas Lawbook has details on the latest State Bar of Texas disciplinary actions, which includes lawyers who neglected their clients’ legal matters and failed to keep them in the loop. In one instance, a Dallas lawyer stole $50k from a client and filed for bankruptcy protection in an attempt to cover it up.

October 4, 2021 Allen Pusey