In this edition of CDT Roundup, the week ending May 24 saw 15 deals reported for a total of $24 billion. The week prior saw 16 deals for $21.7 billion. In fact, it’s the third week in a row we tallied $20 billion or more for transactions handled by Texas lawyers. And that’s the first time that’s happened since we started keeping these stats for deals reported to the CDT Roundup. It’s also the first time we’ve seen three consecutive weeks of $10 billion or more since the three weeks the third quarter of 2024.
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SCOTX Sides with American Midstream, Reverses Rainbow Energy Marketing’s $6.1M Win
Justice James P. Sullivan wrote the court’s unanimous 8-0 ruling in favor of American Midstream, holding the $6.1 million win for Rainbow Energy Marketing cannot stand. Justice Sullivan explained that when a Harris County trial judge “impermissibly blue-penciled extra words” into the parties’ contract, it caused a “cascade of errors that we now correct.” Justice John P. Devine did not participate in the decision.
SCOTX Reverses Negligence Verdict in Harvey Flooding Case
Chief Justice Jimmy Blacklock highlighted deficiencies in the plaintiffs’ expert testimony on the question of whether a pipe fabrication plant’s drainage system contributed to flooding of 30 homes in Matagorda County.
Q&A With Trial Lawyer Kim Bueno
A curious housekeeper who noticed Kim Bueno lugging weeks’ worth of outfits into her hotel room initiated a conversation with the trial attorney. The housekeeper asked Bueno about her trial. The former King & Spalding partner, who on Monday joined Kirkland & Ellis, explained that she defended a drug manufacturer against a lawsuit alleging its product was harmful. The housekeeper drilled in on three questions that prompted Bueno to rework her opening statement and to incorporate a standing ritual into her trial preparation.
Fired Trucking Company Wins $9.5M Verdict in Suit Against El Rancho Supermercado
A Dallas County jury on Thursday awarded almost $9.5 million to a trucking business that claimed it was forced aside when a private equity firm acquired its principal client, the El Rancho Supermercado grocery chain.
How Waste Management and Charles Boettcher Sealed the Stericycle Deal
Waste Management’s $7.2 billion acquisition of Stericycle was highly complex, merging WM’s $20 billion solid waste business with Stericycle’s $2.6 billion medical waste operation. The deal faced hurdles including class action litigation, a Foreign Corrupt Practices Act investigation, and major integration challenges. Over several years, WM’s Chief Legal Officer, Charles Boettcher, played a key role in strategy, evaluation, and execution — culminating in one of 2024’s most significant transactions, with outside counsel Vinson & Elkins. As a result, Waste Management’s acquisition of Stericycle is one of two finalists for the 2025 Houston Corporate Counsel Award for M&A Transaction of the Year. The award will be presented by the Association of Corporate Counsel’s Houston Chapter and The Texas Lawbook today at the Four Seasons in Houston.
Lawbook 50 — Texas Firms Reap Financial Benefits of a ‘Perfect Storm’
Corporate law firms in Texas had another blockbuster year in 2024. Record revenues. Record profits. The top business law firms operating in Texas in 2024 worked more hours for more corporate clients and charged those clients record-high rates — some now topping $2,600 an hour for premium services. The demand for high-dollar elite legal expertise and services in Texas came from companies and private equity firms involved in dealmaking for infrastructure and energy transition projects and businesses engaged in bet-the-company disputes, often battling other businesses or government agencies in court. The Texas Lawbook 50, which tracks the revenue generated by lawyers and law firms operating in Texas, found that 34 of the 50 largest corporate firms achieved record-high revenues in 2024, and an even higher percentage achieved record profits. Eight law firms grew revenue by 25 percent or more.
McDermott Legal Department is ‘More than the Sum of its Parts’
McDermott, a key contractor on the multibillion-dollar Freeport LNG facility, faced lawsuits seeking nearly $2 billion in damages. Freeport’s insurers sought over $1.3 billion in subrogation claims, while Freeport LNG itself alleged design defects. Both lawsuits were filed as adversary proceedings in the bankruptcy of McDermott’s joint venture partner, Zachry Construction. The cases involved complex engineering and contract issues among multiple partners. The cases involved complex engineering and contract issues among multiple partners. Ultimately, the insurers’ claims were dismissed as well as the consequential damages portion of the defect suit, though the insurers have appealed the dismissal. For navigating the complexities, McDermott’s in-house legal team is one of two finalists for the 2025 Houston Corporate Counsel Award for Business Litigation of the Year. The award will be presented by the Association of Corporate Counsel’s Houston Chapter and The Texas Lawbook on Thursday at the Four Seasons in Houston.
Judge Ho Expresses ‘Sincere Concerns’ About ‘Disrespect’ Shown to Pres. Trump, Judge Hendrix in Concurrence Slamming Supreme Court
In a seven-page concurrence, Fifth Circuit Judge James C. Ho accused the U.S. Supreme Court of affording “special treatment” to “favored litigants” in a case involving deportation under the Alien Enemies Act. And he stood up for U.S. District Judge James Wesley Hendrix, writing that he had “conducted himself in a reasonable and indeed admirable manner,” calling the U.S. Supreme Court’s criticism of his actions in the underlying case “unwarranted and unfortunate.”
American Airlines, Supplier.io Settle Lawsuit Over Supplier Diversity Practices
American Airlines and Qurium Solutions, doing business as Supplier.io, have settled a federal lawsuit brought by Edward Blum’s American Alliance for Equal Rights, which alleged that their supplier diversity practices unlawfully prioritized race and ethnicity. While both companies denied any wrongdoing, they agreed to revise their policies to clarify that race and ethnicity will not factor into supplier eligibility or contracting decisions.