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.
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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.
Blackstone Buys Into JV with EQT for $3.5B
Kirkland & Ellis and Milbank are advising the two of the joint venture, which will involve three midstream assets in the Appalachian Basin including the Hammerhead Pipeline and the Mountain Valley Pipeline systems.
New Trial Order Predicated on Juror Misconduct Allegations Undone in Nissan Products Liability Case
A jury had sided with Nissan in March, issuing a take-nothing verdict in the lawsuit brought by Deana A. Rios following the April 2022 death of her husband. In a 46-page opinion issued Thursday and authored by Chief Justice Terry Adams, the panel held Harris County District Judge Fredericka Phillips had abused her discretion by granting Rios a new trial, in part by relying on inadmissible testimony from some of the jurors about deliberations in the case.
Kirkland, Haynes Boone, A&O Shearman Lead Northvolt AB Bankruptcy in SDTX
Swedish-based electric car supplier Northvolt AB filed for Chapter 11 bankruptcy protection in the Southern District of Texas Thursday. The case has been assigned to U.S. Bankruptcy Judge Alfredo Perez.
Blackstone’s ‘Rushed’ $788M Sale of Energy Company Kicks Off Docket of Dallas Business Court
Oral arguments on a motion for summary judgment, pitting Kirkland & Ellis against Susman Godfrey, are believed to be a first for the newly created court.
P.S. — Oncor GC Matt Henry: ‘We Can Do This!’
The Dallas Bar Association’s annual Equal Access to Justice Campaign is hitting crunch time in its efforts to raise $1.25 million for legal aid for the poor and disadvantaged. More than 50 lawyers, law firms and corporate legal departments have already donated between $5,000 and $25,500. The State Bar of Texas has awarded its annual Minority Counsel honors. The personal injury law firm J.D. Silva & Associates is giving away 500 new winter coats.