Owners of Dallas properties available for rent on platforms such as Airbnb and VRBO have lodged a suit seeking to stop enforcement of a city ordinance that would largely ban short-term rentals in the city. It’s the latest in a long line of lawsuits challenging the ability of cities to regulate the short-term rental market, an issue the Texas Supreme Court has yet to weigh in on.
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Mapping the Regulatory Landscape for CCUS in Texas
Carbon capture, utilization and sequestration activity is a key tool in combatting climate change, with significant growth in CCUS being required to reach net zero emissions, and Texas is a potential CCUS hotspot. However, regulatory action in Texas will be required for CCUS to meet its full potential.
DLA Piper L&E Lawyers Outline New Employment Laws, Federal Agency Priorities to Watch
Recent laws are creating a more worker-friendly environment, panelists said at a CLE program for the DFW chapter of the Association of Corporate Counsel.
ExxonMobil Finally Captures Pioneer for $64.5B
In a deal three times larger than any previous Texas M&A transaction this year, ExxonMobil is purchasing Pioneer Natural Resources in an all-stock acquisition. Pioneer GC Mark Kleinman turned to Gibson Dunn partners Jeff Chapman and Tull Florey and Goldman Sachs’ Suhail Sikhtian as his lead outside legal and financial advisors. ExxonMobil turned to Davis Polk partner Louis Goldberg and Citi as its advisors. Texas Lawbook deal writer Claire Poole has the details.
CDT Roundup: 16 Deals, 13 Firms, 228 Lawyers, $6.6B
Refinitiv’s numbers are out, and they tell us what we already know: M&A is down worldwide, marking the slowest nine months since 2013. But there’s good news, and the Roundup has it — along with the weekly list of deals and the lawyers who advised them.
Sorrels Law Expands Footprint in Austin, Hires Veteran Lawyer Judy Kostura
Kostura, a leading expert on subrogation and liens, calls herself “a plaintiff’s lawyer through and through.” She was instrumental in creating a 2013 Texas health insurance reform law.
Prosperity Life Buys Moody Family’s National Western for $1.9B
Sidley counseled National Western, the second time in the last three years that the firm has assisted with sale of a publicly traded insurance company associated with the Moody family.
Litigation Roundup: Katten to Defend $170M Healthcare Fraud Case, Fatal Crash Draws $100M Suit
In this edition of Litigation Roundup, a history professor at the University of Texas at Austin sees his retaliation lawsuit revived while a finance professor at the university sees his discrimination lawsuit tossed, a judge in the valley awards a man who had his leg amputated in a workplace injury $10.5 million, and a team of lawyers at Foley & Lardner get a win for their direct-selling client against the Federal Trade Commission.
Fifth Circuit Overturns Dallas Judge’s Order Boosting Former NFL Player’s Disability Benefits
The appellate court praised U.S. District Judge Karen Gren Scholer for casting light on the NFL retirement plan’s “disregard of players’ rights” and its “lopsided system aggressively stacked against disabled players.” But, it said, former running back Michael Cloud was not entitled, under the plan’s rules, to the increase in benefits that Judge Scholer ordered.
Citi’s Legal Industry Experts: Texas Firms ‘Outperforming’ Lawyers in Most Other Regions
Texas-based corporate law firms are billing more hours, growing revenues faster and collecting money from clients better and faster in 2023 than most of their counterparts throughout the U.S., according to new data from Citi Private Bank’s Law Firm Group. Demand by business clients for legal work in Texas is also up and leaders at Texas law firms are “slightly more optimistic” about growth for the rest of 2023 and 2024 than corporate lawyers in other regions of the country. But there are negative signs that some corporate clients are taking longer to pay invoices. The Texas Lawbook has the exclusive report.