On Friday the Texas Supreme Court granted a petition for review from USA Lending Group that aims to revive a legal malpractice lawsuit it filed against Winstead PC regarding the firm’s in a lawsuit against a former employee. USA Lending sued Winstead after its attorneys failed to request damages in a motion for default judgment, which the company alleges cost it about $1.2 million. The Texas Supreme Court will decide whether the Texas Citizens Participation Act applies to the case.
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P.S. — UT Law’s Women in Law Luncheon, Gibson Dunn’s Pro Bono Awards
In this week’s edition of P.S., we have information on the speaker, honoree and sponsors of the upcoming biennial award luncheon for the Center for Women in Law, an organization affiliated with the University of Texas School of Law and background on Gibson Dunn’s prestigious Frank Wheat Memorial Awards, which recognizes lawyers within the firm for their pro bono work each year. Other firms mentioned this week include Baker Botts, Haynes and Boone, Katten, Norton Rose Fulbright, Kean Miller and many more. Corporations mentioned include AT&T, Jacobs, Toyota and FTI Consulting.
Updated – Houston Woman Whose Ex-Cheated in Divorce Agreement Could Get $90M
Laura Yosowitz borrowed $500,000 from her family to bring a lawsuit against her ex-husband because she believed he lied about his business dealings when they divorced in 2016. This week, a Houston jury issued a verdict that Martin Lee Kay, Yosowitz’s ex, did mislead her — to the tune of $155 million.
Remembering James B. Sales
Over his 62-year career, Jim Sales tried more than 100 cases to verdict and developed the contours of product liability law in Texas and the nation. But the former Marine’s most enduring legacy was one of service, as a mentor and champion of access to justice and pro bono.
Former Texas Supreme Court Chief Justice Wallace B. Jefferson once said of Sales: “You epitomize everything that is noble about our profession.”
Sales died this month at the age of 89.
Three Banks Standing, Billions in Damages – The Final Stanford Ponzi Scheme Case Goes to Trial
HOUSTON – Fourteen years ago, on Feb. 16, 2009, lawyers for the SEC stood on the front lawn of a federal judge seeking an emergency order to freeze all assets of R. Allen Stanford and his investment firm, accusing the Houston financier of perpetrating a massive $8 billion fraud. Next Monday, exactly 14 years and 10 days later, a Houston jury will be chosen to decide whether three banks aided and abetted Stanford in the fraud.
The court-appointed receiver is expected to ask the jury to order Toronto-Dominion Bank (TD Bank), HSBC Bank and Independent Bank (formerly Bank of Houston) to pay $4 billion to $10 billion to the thousands of victims of Stanford’s Ponzi scheme. The Texas Lawbook examines the 14-year journey this case took to get to trial.
Frost Brown Todd Renames Diversity Scholarship After Late Houston MP
Frost Brown Todd has renamed its diversity scholarship after Zenobia Bivens, the late managing partner of the firm’s Houston office who unexpectedly passed away last year at the age of 40. The scholarship aims to support law students who are excelling academically and demonstrating a commitment to diversity and serving the community.
Chesapeake Sheds Eagle Ford Properties to Ineos for $1.4B
Haynes and Boone advised the Oklahoma company and Holland & Knight assisted the British chemical multinational, which marks its entrance as operator into the U.S. onshore oil and gas market.
Oral Argument Re-Do: Texas Justices Focus on German Automakers’ Conduct in Emissions Scandal Suit
The Texas Supreme Court heard oral arguments in the case for the second time Tuesday, this time with two justices from the intermediate appellate court stepping in for two high court justices who recused themselves. The major issue in the dispute is whether Texas courts have jurisdiction to hear the state’s case against Volkswagen Germany and Audi Germany.
Swiss Bank Settles Stanford Ponzi Scheme Lawsuit for $157M
The court-appointed receiver in the R. Allen Stanford massive Ponzi scheme litigation scored another victory Tuesday when one of five banks accused of aiding and abetting the Houston financier agreed to settle claims against it for $157 million. The agreement comes just days before four banks are scheduled to go to trial in Houston.
CDT Roundup: 14 Deals, 12 Firms, 158 Lawyers, $5.7B
This week the CDT Roundup gives a tip of the hat to Winston & Strawn’s Mike Blankenship, who has begun the first two months of 2023 on fire in what has become a rare form transaction: the traditional IPO. More on that, as well as the week’s roundup of Texas-related transactions.