James Dondero had appealed to the Fifth Circuit in September 2022, arguing the bankruptcy judge wrongly found him in contempt of a temporary restraining order and awarded compensatory damages to Highland. Judge Leslie H. Southwick wrote that the “minor factual issues” Dondero raised on appeal weren’t enough to undo the sanction. “Undergirding our analysis of the sanctions award here is a recognition of the goal of such awards everywhere: ‘to do rough justice,’” he wrote.
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CDT Roundup: 14 Deals, 16 Firms, 224 Lawyers, $8.2B
The Corporate Deal Tracker has noticed an uptick in capital transactions over the past few weeks. One firm that seems to be getting its share of CapM deals is Baker Botts. In June alone, BB reported more than $4 billion in 10 capital markets transactions. Claire Poole takes a look at the lawyers behind the action at BB, along with her usual summary of Texas-related deals and the lawyers behind them.
Texas AG Signals Plans to Aggressively Enforce Texas’ New Data Privacy & Security Act
The Texas Data Privacy & Security Act became effective July 1. Along with 17 other states, Texas has now enacted data privacy protections that will require many businesses to comply with new regulations about the collection, use, processing and treatment of personal data. Businesses that operate in Texas should be aware of, and prepared to comply with, the TDPSA immediately. Companies should coordinate with their technology and legal teams to review policies and procedures and ensure their privacy policy, terms and conditions, and other documentation comply with the Texas law and other applicable privacy and cybersecurity regulations to ensure compliance and avoid enforcement actions by the Texas attorney general.
Litigation Roundup: Primexx Energy Wants Suit Over $788M Sale Tossed
In this edition of Litigation Roundup, we offer an update from the most recent hearing in the lawsuit stemming from the $788 million sale of Primexx Energy, a threatened lawsuit over the death of Congresswoman Eddie Bernice Johnson yields a settlement, and six officers and directors of a Houston-based clinic see an end to a $285 million breach claim.
Nine-lawyer Tax Team from Chamberlain Hrdlicka Moves to Nelson Mullins
Nelson Mullins has recruited lawyers from yet another firm to bolster its nascent Houston outpost. The Chamberlain Hrdlicka expats are headlined by Juan Vasquez, Jr., Peter Lowy, and former Texas Supreme Court Justice David Medina.
Bradley Arant Boult Cummings Adds Partner to its Houston Office
Lauren Black, formerly a partner at BoyarMiller, has joined Bradley’s litigation practice group. She rejoins Philip Dunlap and Cyrus Chin, two former BoyarMiller lawyers who joined Bradley as partners last year.
SCOTUS Vacates Fifth Circuit Decision in Social Media Case
In a decision Monday by the U.S. Supreme Court, the justices ruled that the U.S. Court of Appeals for the Fifth Circuit failed to “conduct a proper analysis of the First Amendment challenges” to a Texas law that regulates content posted on large internet platforms, such as Facebook and YouTube. The Supreme Court vacated and remanded NetChoice v. Paxton — a case in which the Fifth Circuit upheld a Texas law prohibiting websites and social media outlets from editing or deleting posts deemed to be false or harmful.
V&E Grabs Laterals from Kirkland, Simpson
The firm announced that East Berhane is becoming a new finance partner in Dallas and Benjamin Heriaud a capital markets partner in New York.
The SEC’s Evolving Enforcement Authority: From Courtroom to Administrative Proceedings
For more than a decade, the U.S. Securities and Exchange Commission has been able to bring enforcement actions in either federal court or the agency’s internal venue. Not anymore. The U.S. Supreme Court issued a pivotal ruling in SEC v. Jarkesy significantly curtailing the SEC’s ability to use its administrative proceedings to impose civil penalties for securities fraud. Instead, these cases must be tried in federal district court, where a defendant’s Seventh Amendment right to a civil jury trial is available. This decision not only alters the landscape for securities fraud enforcement but also signals potential broader implications for the enforcement powers of federal agencies across the government.
Coupled with a series of other recent rulings by the Court, this verdict adds to a body of law with potentially far-reaching implications for the enforcement powers of all federal agencies.
Michelle Reed Jumps to Paul Hastings
Paul Hastings continued its Texas expansion Monday announcing that a nationally recognized expert in cybersecurity and privacy litigation joined the firm’s Dallas office as a partner. The firm has added nearly 40 lawyers in Texas since last September. The Lawbook interviewed Reed on her move to Paul Hastings and developments and trends in cybersecurity litigation.