The firm is betting the two corporate lawyers’ institutional knowledge and experience building a successful office will reap more rewards in Austin.
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Court Awards $12M to Oil Patch Exec in Employment Contract Dispute
Gibbs & Bruns lawyers this week secured a $12 million judgment on behalf of a client who co-founded EnVen Energy Corp. and has been embroiled in a dispute with the company over his contractual severance benefits. In addition to the dollar amount obtained, the case has personal significance for a member of the trial team.
Former Concho GC Heads to Bracewell
Travis Counts is the second former C-suite hire from a major oil and gas player this year. He has negotiated and closed transactions exceeding $75 billion in value over his career, which includes Concho’s $9.5 billion sale to ConocoPhillips that closed in January.
The SEC Pushes the Limits on Insider Trading
The Securities and Exchange Commission did something rather extraordinary last month in a case involving “shadow trading” that could push the limits of the “traditional” theory of insider trading. This article examines the case and its implications.
CDT Roundup: 17 Deals, 11 Firms, 103 Lawyers, $10.6B
Latham & Watkins’ Justin Stolte caught up with The Texas Lawbook as the firm’s Houston office works to service client demands spurred along by the energy transition and a meaningful uptick in commodity prices. And in last week’s deal activity, more than 100 Texas-based lawyers participated in more than $10.6 billion worth of deals.
Biden Administration Directs OSHA to Mandate Vaccines and Testing
The president’s recent mandate brings more questions than answers and will almost certainly be met with legal challenges. But employers should anticipate a rollout within the coming weeks and prepare accordingly.
Simpson Thacher Lands Houston Corporate Partner from Latham
Simpson Thacher is adding a young partner who played a key role in EQT’s $2.9 billion acquisition of assets from Alta Resources in May.
Magellan Midstream Exec Joins Sidley
Trent Bridges served as the lead lawyer on numerous mergers and acquisitions and other corporate matters for the Tulsa, Oklahoma-based company.
Munck Wilson Builds on IP Strength, Combines with Austin Firm
The merger gives Munck Wilson one of the largest trademark/soft intellectual property practices in the Southwest and more than doubles its headcount in Austin.
Fifth Circuit Issues ‘Devastating’ Defeat for Oil and Gas Companies in Wage and Hour Dispute
Energy companies that compensate employees by the day must still pay those people overtime because they are not exempt salaried workers under the strict wording of the Fair Labor Standards Act, the Fifth Circuit has ruled. The appeals court decision is a huge blow to energy companies who have relied for decades on the idea that they could escape paying OT to workers paid an extra high daily wage. Dissenting judges say the decision overturns decades of standard practices within the energy sector and will have a devastating impact on the oil and gas industry. The Texas Lawbook has the full details.