After five weeks in a row logging transactions valued at $20 billion or more, deal values finally hit the wall. Of course, part of the reason is that all of the M&A and funding deals involved private equity firms, deals whose terms are often undisclosed. Still, there were only six transactions reported. But the deals that were reported were not without importance.
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Toyota Motor North America Names New GC, Compliance Officer
DFW-based Toyota Motor North America has named a new general counsel and a new corporate compliance and ethics officer — both will report to chief legal officer Sandra Phillips Rogers. The automaker has named former deputy general counsel Elizabeth Gibson to the GC position and assistant GC Dawn Pittman Collins to the corporate compliance and ethics officer post. Gibson has been a lawyer in the legal department at Toyota for more than 19 years. In her previous position, she oversaw complex litigation, government investigations and regulatory compliance.
Anatomy of an Acquittal — Delayed Vindication
At the very end of the series Mad Men, the yoga instructor encourages his class, which includes the show’s protagonist, Don Draper, with the following words: “A new day. New ideas. A new you.” From the perspective of the defense team at least, that’s a fitting introduction to the retrial of United States v. Hamilton, which resulted last week in an acquittal on all charges of conspiracy to commit bribery and two substantive counts of bribery. In the retrial, the government tried precisely the same case it tried four years ago. And why not? That case resulted in a conviction on three of four charges, which led to an eight-year prison sentence imposed by the district court.
Weil Advises PE Firm in Selling Stake as Part of $1.2B Deal
PSG Equity said it completed the sale of a minority stake in SevenRooms on June 16 to DoorDash as part of the food delivery service’s $1.2 billion acquisition of the customer relationship management technology company. Weil acted as legal counsel to PSG, with David Gail leading the transaction from Dallas. Madeleine Carpenter, an associate in Weil’s Dallas office, was also on the team.
Thought Leadership: Mission Control for International Disputes — Houston’s Arbitration Advantage
With corporate America increasingly voting with its feet by relocating to Texas and its business-friendly legal climate, general counsel and international arbitration practitioners should freshly consider Houston’s merits as a U.S.-based seat for international arbitration. By all objective criteria, Houston boasts the infrastructure, expertise, and supporting legal framework to match the leading global arbitration centers.
Jury Awards $37.9M to Residents Affected by Houston Watson Grinding Explosion, Case Continues for Others
Five victims of the Houston Watson Grinding 2020 fatal explosion saw some relief from a Harris County jury earlier this month. Their attorneys discussed the details of the case with The Texas Lawbook and the five-year journey it has taken to obtain the $37.9 million verdict. Another trial in the case is expected at the end of this month. (2020 file photo by Godofredo A. Vásquez/Houston Chronicle via The Associated Press)
Judge Approves $91.3M in Settlements in GWG Bankruptcy
At the end of a roughly two-hour hearing, U.S. Bankruptcy Judge Christopher Lopez approved a $50.5 million settlement with directors and officers of GWG, a $30 million settlement with the law firm Mayer Brown, an $8.5 million settlement with Texas accounting firm Whitley Penn and a $2.3 million settlement with brothers Jon R. and Steven F. Sabes, the original founders of GWG.
GWG Holdings Bondholders Allege RICO Conspiracy
The lawsuit, filed Thursday, names as defendants David Jones, Elizabeth Freeman, The Law Office of Liz Freeman, Jackson Walker and Porter Hedges. GWG Holdings bondholders allege those parties were part of a conspiracy to “prey upon distressed entities for their own financial gain.”
Thousands of Texas Hemp Jobs at Risk as State Legislature Passes THC Ban
Thousands of Texas hemp retailers and their employees face looming legal and financial uncertainty after lawmakers approved a sweeping ban on psychoactive THC products, including popular delta-8 and delta-9 edibles, vapes and beverages. Gov. Greg Abbott has stayed neutral on the issue, declining to say whether he plans to use his veto pen or let the bill become law by the June 22 deadline. (Photo by Jim Vertuno/The Associated Press)
P.S. — J.L. Turner Legal Association Hosts Sold-Out Inaugural Juneteenth Celebration in Dallas
In this edition of P.S., we highlight the success of the J.L. Turner Legal Association’s first official Juneteenth Celebration, held at the Dallas African American Museum. The Dallas African American bar association, named for one of the city’s first Black lawyers, shared with The Texas Lawbook why it was compelled to emphasize the importance of Juneteenth in an event that was open to people of all professions and not just the legal community. Meanwhile, the State Bar of Texas is kicking off its annual meeting on June 19 amid controversy over its decision to disinvite the NAACP president from speaking at its Bar Leaders Recognition Luncheon. Former Chief Justice of the Supreme Court of Texas, Wallace B. Jefferson, will deliver a keynote address commemorating the legal history and significance of Juneteenth. And we highlight other upcoming Juneteenth celebrations, as well.