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.
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.
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.
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.
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.
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.
Chad Meacham Named Interim U.S. Attorney in Dallas
A veteran of high-profile criminal prosecutions, Chad Meacham will serve as the second interim U.S. attorney for the Northern District of Texas since January, succeeding Prerak Shah, who is leaving the office. There has been no public indication of when the Biden administration will nominate a permanent top prosecutor for the district.
Despite High-Profile Candidates, No News on U.S. Attorney Nominations in Texas
The Biden administration has taken no public steps to fill any of the four U.S. attorney positions in Texas, but the list of prominent lawyers wanting those high-profile jobs is growing. They include partners from Winston & Strawn, Gibson Dunn, Gerger Hennessy and Jackson Walker. Two sitting U.S. Attorneys and the son of an East Texas federal judge are also on the short list. The Texas Lawbook has details.