Guardant Health and Natera had lodged false advertising claims against each other, with Guardant filing suit first in May 2021 and Natera following with counterclaims in June 2021. The jury, which was seated Nov. 4 and heard 10 days of testimony before returning a verdict Monday, awarded Guardant $75 million in damages for corrective advertising, about $41.5 million for disgorgement of Natera’s profits and $175.5 million in punitive damages.
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North Texas Tollway Authority Nets $280M Verdict Against President George Bush Turnpike Constructors
A Dallas County jury found Prairie Link Constructors, a joint venture of construction companies Fluor Enterprises and Balfour Beatty Infrastructure, breached its contract with the North Texas Tollway Authority to build six and a half miles of roads, bridges and retaining walls on the President George Bush Turnpike. A majority of the walls were found to be defective, the NTTA alleged.
Litigation Roundup: Google Goes After Ex-Engineer Over Allegedly Posting Trade Secrets Online
In this edition of Litigation Roundup, the U.S. Supreme Court agrees to review a Fifth Circuit decision against the Federal Communications Commission, we identify the Dallas lawyers who helped secure a nearly $100 million verdict for the family of Botham Jean, and Vedder Price is tapped to represent NFL quarterback Baker Mayfield in a $12 million family feud.
Texas GC Forum Honors Corporate Legal Leaders of 2024
The Texas General Counsel Forum held its annual Magna Stella Awards dinner in San Antonio Thursday night recognizing nine chief legal officers and senior in-house counsel for their extraordinary achievements and leadership successes. The GC Forum provided The Texas Lawbook exclusive access to its annual meeting and the awards ceremony. More than 350 lawyers from corporate legal departments and law firms attended the event. The recipients included lawyers from Air Liquide, LyondellBasell, PlayPower, Schwab, Sumitomo, Texas Children’s Hospital and XRI Holdings.
Correction: David Starr’s name was mistakenly printed Carr in several references. The Lawbook apologizes for the error.
Arizona Case Heightens ESOP Oversight Responsibilities of Company Directors
A recent decision in Arizona federal court shows that the directors of ESOP companies need to recognize that their interests and fiduciary duties are not always aligned with those of the ESOP investment banker (who is providing them guidance), the ESOP trustee and the ESOP advisors. This article highlights the key takeaways from a closely-watched case by the industry, Su v. Bensen.
Baker Botts, AZA, Akin, V&E Announce Associate Bonuses Up to $140K
Great news moms: If you raised young lawyers, you should expect expensive presents from your daughters and sons this Christmas. A dozen large corporate law firms operating in Texas have informed their associates that they will be receiving year-end bonuses ranging from $21,000 for first-year lawyers to $140,000 for associates in their eighth year, which will be up for partner next year. Combined with recent hikes in base salaries, the most senior associates this year will be paid more than $575,000. Two Houston-based firms — Baker Botts and AZA — are the most recent business-focused firms to announce year-end bonuses for the associates it employs in its seven U.S. offices. Legal analysts say that the bonuses paid to just those 1,600 associates will cost their respective law firms an estimated $80 million.
Marshall Jury Hits Samsung with $118M Verdict
A federal jury in Marshall found Samsung willfully infringed three patents owned by semiconductor manufacturer Netlist regarding computer memory modules. The verdict is the latest in a string of wins for Netlist against Samsung.
The 2024-25 Partner Promotion Announcements Have Begun
’Tis the season of law firm partner promotions. Between October and February, dozens of corporate law firms officially announce the associates and counsel that they are promoting to equity and nonequity partners. Most of the announcements are made in December. The Texas Lawbook’s Mark Curriden has the details on the latest announcements.
CDT Roundup: 15 Deals, 15 Firms, 153 Lawyers, $4.6B
For some, it may be too soon to talk about it, but business leaders are already weighing in on how their industries might be impacted by the election results. In one of the first survey’s we’ve seen, Endeavor Business Intelligence deployed a short questionnaire to U.S. business leaders on their perceptions of the upcoming change in administrations. There were 160 respondents, not bad for a one-week project; and the answers proved more complex than one might expect. That and the usual review of last week’s reported transactions.
ONEOK to Complete Its Takeover of EnLink Midstream with $4.3B All-Stock Deal
Kirkland & Ellis advised ONEOK and Baker Botts advised EnLink on the transaction in which ONEOK acquires the 56 percent of EnLink it doesn’t already own. The deal finishes off an $11.6 billion flurry of transactions by the Tulsa-based midstream.