In May, the Securities and Exchange Commission and the Financial Crimes Enforcement Network initiated rulemaking to enhance anti-money laundering compliance for certain SEC-Registered Investment Advisers and Exempt Reporting Advisers. The proposed rule was expected, following FinCEN’s February 2024 related notice that would add certain RIAs and ERAs as financial institutions subject to the Bank Secrecy Act. Taken in aggregate, these changes represent a new and more formalized regulatory wrapper for small funds, making compliance more prescriptive and resource-intensive. Recent decisions at the Fifth Circuit and the U.S. Supreme Court complicate matters further.
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CDT Roundup: 15 Deals, 14 Firms, 184 Lawyers, $16B
The CDT Roundup occasionally spotlights a lawyer whose pops up in connection with one of our larger deals. Mitch Tiras has popped up lots of times over the years, this last week in connection with the $1.54 billion Quanta Services acquisition of Cupertino Electric. We take a quick look at his recent work, along with the usual list of deals reported last week and the lawyers behind them.
Litigation Roundup: Fifth Circuit Revives Pioneer, MIECO Gas Delivery Fight
In this edition of Litigation Roundup, a Whistleblower who sued Kellogg, Brown and Root sees his $1.1 million recovery wiped out on appeal, another class action lawsuit over a data breach is filed against AT&T and a Uri-related gas delivery fight against Pioneer Natural Resources is revived.
Woodside Purchases Tellurian for $1.2B
A mostly Texas team from Akin Gump advised Tellurian while Norton Rose Fulbright advised Woodside, which the Australian company claims positions it to be a global LNG powerhouse.
Clearwater Paper Sells Tissue Business to Sofidel America
Pillsbury Winthrop Shaw Pittman advised Spokane-based Clearwater on the deal, which included lawyers from Austin. Sofidel, a major provider of tissue products in Europe and eight states in the U.S., says it plans to continue its expansion in North American markets.
Brown Fox Nabs Labor and Employment Lawyer from Jackson Lewis
Jennette “Jenny” DePonte joined Brown Fox last week as a partner in the Dallas-based boutique law firm. She was previously a principal at national labor and employment law firm Jackson Lewis.
Update: Texas Lateral Partner Hiring Boomed in H1 2024
The lateral partner market in Texas hit a fevered pitch during the first six months of 2024 — especially in Houston and among litigation practices, according to exclusive Texas Lawbook data. Some big-name lawyers changed locations during H1 2024. Dozens of the lateral partner moves are the result of a few law firms opening new offices in Texas. Four law firms took their first plunge into the Texas legal market by hiring lateral partners. Lawbook database manager Christi Trammell and reporter Mark Curriden provide the inside numbers and Lotus Legal Search Founder Kate Cassidy offers the analysis.
P.S. — A Civil Legal Aid Advocate, Legal Aid for Beryl, Baylor’s Lawyer of the Year
This week’s edition of P.S. features a federal judge in the Eastern District of Texas who was honored with Baylor’s Lawyer of the Year award, Hurricane Beryl disaster relief information from the State Bar of Texas and a Nacogdoches lawyer committed to the civil justice gap who has joined forces with Legal Service Corporation.
Lawyers, Guns and Money: An occasional series on movies, TV and other stories about lawyers and the law —The Verdict (1982, Dir. Sidney Lumet)
Frank Galvin is a mess. A drunken has-been of a lawyer, disillusioned by past failures and the corruption that plagues the justice system, he whiles away his time drinking whiskey and playing pinball at his favorite Boston bar. When Frank takes a case all but guaranteed to yield a fat settlement — a Catholic hospital gave a pregnant woman the wrong anesthetic, rendering her a vegetative state, and the diocese wants the whole thing to go away — he sees dollar signs spinning before his eyes. But then something happens.
SDTX Swears in New Bankruptcy Judge
U.S. Chief Bankruptcy Judge Eduardo Rodriguez officially administered the oath Tuesday to former Weil, Gotshal & Manges partner Alfredo Perez to become the newest bankruptcy judge in the Southern District of Texas. In an order signed July 16 by Chief Judge Rodriguez, Judge Perez will immediately join the Southern District’s complex case panel, which handles larger corporate Chapter 11 bankruptcies. Judge Perez, who will have chambers in Galveston, replaces former Houston Bankruptcy Judge David Jones.