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The Vanishing Texas-based Corporate Law Firm

At midnight on Dec. 31, the sign on the front door at Locke Lord will come down, and the corporate law firm’s 130-year history as a Dallas-based institution will come to an end as the result of a merger with Troutman Pepper. Over the last dozen years, more than 30 business law firms headquartered in Dallas, Houston, Austin and San Antonio have merged with or been swallowed up by larger, more profitable corporate law firms seeking to enter the thriving Texas business market or expand specific practice areas. None of them call Texas HQ anymore.

Since 2012, seven of the 25 largest Texas-based corporate law firms have merged out of existence. Legal industry analysts predict that more Texas legacy firms — small, medium and large — will be takeover targets within the next 18 months.

15th COA Hears First Arguments in Cases Involving State Entities

Justices on the newly created court engaged in spirited questioning over appeals involving DPS’ Uvalde school shooting records, the AG’s biometric data case against Google, and the firing of a Crowley ISD teacher who pinned down a student. Lawmakers gave the court broad authority over appeals involving the state and cases from the new business courts.

Jackson Walker Bankruptcy Fee Trial Pushed to April

During a roughly 80-minute hearing Tuesday, Chief U.S. Bankruptcy Judge Eduardo V. Rodriguez set an April 21 trial date in the litigation that will determine whether the U.S. trustee can claw back millions in bankruptcy fees awarded to Jackson Walker in cases handled by former judge David Jones. The court has given the parties until Dec. 2 to file dispositive motions in the case.

Fifth Circuit Sides with Southwest Pilots Union in Fight with Airline

The Monday ruling from a three-judge panel undoes a September 2023 order from U.S. District Judge Barbara M.G. Lynn dismissing the complaint and effectively kicking the case to arbitration. Judge Lynn had concluded that the union failed to show there was “anti-union animus” that would have created an exception and allowed the case to proceed in district court.

Litigation Roundup: Rehearing at Fifth Circuit Goes Tesla’s Way in NLRB Dispute

In this edition of Litigation Roundup, we detail a 9-8 ruling from the Fifth Circuit that wiped out a National Labor Relations Board ruling against Tesla, offer new details on who is defending SpaceX in a fight with a neighboring South Texas landowner, and highlight a U.S. Supreme Court ruling that hits pause on a Fifth Circuit ruling in a case centered on the regulation of horseracing.

CDT Roundup: 8 Deals, 8 Firms, 65 Lawyers, $3.2B

Data from Pitchbook for the first three quarters of 2024 shows that global M&A has rebounded both in volume and value over the same period last year. The CDT Roundup parses their report and looks at how those global numbers compare with North America in general and Texas in particular. The numbers, extracted from the Corporate Deal Tracker database, surprise. That, and the usual summary of deal traffic during what proved to be an ironically light week.

Vertex Energy Bankruptcy Fees Hit $2,450 an Hour

The legal and financial advisors in the Vertex Energy bankruptcy and restructuring have filed their applications for official employment, and the numbers never cease to amaze. Kirkland, Bracewell, Alvarez & Marsal and Perella Weinberg Partners filed their fees to be approved by SDTX Bankruptcy Judge Christopher Lopez.

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