Twenty-two corporate law firms operating in Texas have announced their partner promotions — 112 in all — for the 2024-25 season. Four more firms announced their new partnership ranks.
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CDT Roundup: 15 Deals, 12 Firms, 186 Lawyers, $5.3B
The biggest deal reported last week was the $2.4 billion sale of “non-core” assets along the Texas-Louisiana Gulf Coast by Dow, the chemical giant. The sale involved a 40 percent stake in Dow InfraCo sold to alternative asset manage Macquarie. The deal is only the latest in a series of “non-core” sell-offs, a phrase that is becoming as common as “consolidation” in the current market. The CDT takes a look at the “non-core” transaction trend and an observer of the Dow deal who less than impressed. And, of course, the usual report on last week’s deals and dealmakers.
ACC-DFW and Texas Lawbook Select DFW GCs of the Year
The general counsel at Toyota North America, Sandra Phillips, and the GC at the North Texas Tollway Authority, Dena Stroh, have been selected by the Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook to receive the 2024 DFW Corporate Counsel Awards for General Counsel of the Year for a Large Legal Department and a Governmental/Nonprofit Legal Department respectively.
In addition, ACC-DFW and The Lawbook have named Texas Capital GC Anna Alvarado and FirstService Residential GC LaToyia Pierce Frink as the two finalists for the 2024 DFW Corporate Counsel Award for GC of the Year for a Midsized Legal Department and Caris Life Sciences GC Russ Denton and Momentum GC Robin Everly as finalists for GC of the Year for a Small Legal Department.
Investors Allege Multimillion Dollar Fraud in Suit Against Bitcoin Mining Company
A group of investors allege Rhodium Enterprises executives and Fort Worth-based Imperium Investments Holdings, LLC deceived investors to secure a $33 million investment. Rockdale-based Rhodium filed for Chapter 11 bankruptcy in August.
P.S. — Texas Law Firms Step Up to Help Others for the Holidays — Including Squishmallows
Texas business lawyers made a lot of money in 2024, and now they are giving back. And they are apparently giving back in a currency called Squishmallows.
From Texas-based firms such as Gray Reed and Akin Gump to national operations Greenberg Traurig, Kirkland & Ellis, Latham & Watkins, Norton Rose Fulbright, O’Melveny & Myers and Winston & Strawn, lawyers are adopting angels, families, children centers and food banks. They are providing gifts for foster children, families that have been the victims of abuse and homeless veterans.
A prime objective of the Texas Lawbook Foundation is to employ journalists who showcase the public service and pro bono work of lawyers in Texas — to demonstrate that law is more than a great paying job. It is an honorable profession.
In this weekly issue of P.S., The Texas Lawbook continues to highlight specific public service efforts of nine law firms in Texas.
The staff of The Lawbook thanks you for being a good citizen.
Major Shipping Companies Accused of RICO Violations in New Suit
A lawsuit filed in federal court in Dallas Thursday by a family-owned logistics company accuses some of its biggest competitors of “illicitly” building a multibillion-dollar business by “systematically defrauding consumers and small business owners” in violation of the Racketeer Influenced and Corrupt Organizations Act.
Divided Fifth Circuit Strikes Down SEC’s Approval of Nasdaq Diversity Rules
Judge Andrew S. Oldham and the majority focused their decision on a requirement in the Securities Exchange Act dictating that the SEC must first find that any proposed regulation “is related to the purposes of the Exchange Act” before approving it. Judge Stephen A. Higginson focused his dissent on the “limited reviewing role” Congress carved out for the SEC as it relates to its ability to approve rules proposed by “self-regulatory organizations” like Nasdaq.
Bloomberg Law: Waco Judge Albright Moving to Austin
U.S. District Court Judge Alan Albright, one of the most popular jurists for handling patent infringement disputes in the U.S., is moving his chambers from Waco to Austin, Bloomberg Law reported late Wednesday. The judges of the Western District of Texas have approved Judge Albright’s request to move his primary chambers to Austin in 2025, according to Bloomberg Law. The transfer must be approved by the U.S. Court of Appeals for the Fifth Circuit’s Judicial Council.
Hunton Andrews Kurth Adds Capital Markets Partner from V&E
Joanna Enns joined HuntonAK’s Dallas office after a nearly five-year tenure at V&E, where she primarily focused on M&A, capital markets and liability management transactions in the natural resources and mining sectors.
Southwest Regroups to Defend Free Flights for Low-Income Hispanic Students Against Lawsuit
A federal judge in Dallas has given Southwest Airlines more time to prepare a legal defense against a lawsuit brought by an organization that claims the airline’s program offering free flights for low-income Hispanic students to go home to visit their parents is illegally discriminatory. Senior U.S. District Judge Sidney Fitzwater ruled Dec. 6 that the lawsuit brought by the American Alliance for Equal Rights must proceed forward even though Southwest officials agreed to end the charitable effort several months ago.