Advised by Kirkland, Skadden and others, the deal has deep ties to a number of critical Texas energy and infrastructure projects. The Lawbook has the details, as well as the names of lawyers involved.
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P.S. — The Top 10 Pro Bono & Diversity Stories of 2023
Your new year’s resolutions may no longer be intact, but hopefully your will to improve your life and those around you is. To kick off the first public service column of 2024, Natalie Posgate looks back on the 10 most important pro bono and diversity stories of 2023. So slice a piece of that cake that 2024 you said you would avoid and settle in.
The 20 Most Read Lawbook Stories of 2023
A year that began with arguments at the Texas Supreme Court that contemplated whether ERCOT is “too big to fail” and ended with a surprise sale by Dallas Mavericks owner Mark Cuban of a majority stake in his professional basketball franchise was sure to be chock-full of headlines that were attention-grabbing, compelling and noteworthy.
Navigating the AI Data Minefield: Safeguarding Personal Information Amidst Evolving Terms and Conditions
In the past year, tools and programs such as ChatGPT, OpenAI, and GitHub Copilot, among others, have surged into mainstream popularity. While they have proven to be immensely valuable tools, there has been an equal concern towards their “independent” actions that has largely stoked immense fear in the eyes of many consumers. This contrasting dilemma has struck a rift between companies hoping to effectively utilize these tools of the future for economic growth, and their consumers uneasy worry of the potential consequences.
SCOTX Decides 2 Judicial Candidate Challenge Cases, More Percolate
In two separate cases brought by judicial candidates, the Texas Supreme Court decided Wednesday that case law upholding the importance of giving candidates access to the ballot trumped the challenges trying to limit who voters get to choose from on Election Day.
Texas Supreme Court Hears UT Regents’ $51M Royalty Dispute
For 13 years, the University of Texas Board of Regents and IDEXX Laboratories seemed pleased with a royalty deal they inked for certain diagnostic tests used by veterinarians. Then an auditor told UT IDEXX had been underpaying what it owed under the structure of the deal. That finding led to litigation and a $51 million award for UT that was later undone by the Fourteenth Court of Appeals in Houston. The Texas Supreme Court has agreed to determine whether the contract binding the parties is ambiguous.
SCOTX to Decide if Class Action Suit May Proceed Against USAA
The owner of a restored vintage Mercedes that was declared salvage by USAA, a decision the company later walked back, argues the insurance giant participates in a wrongful practice of prematurely reporting to the state that it has paid claims. USAA argues the plaintiff should be required to pursue her novel claims as an individual and not on a classwide basis.
2023 — The Year of Billion-Dollar M&A Deals in Texas
The size of a deal may not always be an indicator of its success, but 2023 in Texas will certainly go down in history as the year of some massive billion-dollar transactions.
Despite the fact that the global M&A market saw a 17 percent decline in value and 6 percent decline in volume, Texas had the distinction of leading the world with the two largest megadeals: ExxonMobil’s $64.5 billion acquisition of Pioneer Natural Resources and Chevron’s $60 billion purchase of Hess Corp. Even ONEOK’s $18 billion acquisition of Magellan Midstream Partners made it to the top dozen deals worldwide, as Texas demonstrated its energy prowess across the globe.
Chesapeake and Southwestern to Merge in $7.4B Deal
Advised by lawyers from Kirkland & Ellis and Latham & Watkins, the deal brings to NG and LNG the same kind of billion-dollar consolidations taking place among major holders in the Permian Basin.
Fifth Circuit Says Lack of ‘Fair Notice’ Dooms $7.5M Jury Verdict Against Energy Futures Co., Broker
The Fifth Circuit Court of Appeals on Monday determined the Commodity Futures Trading Commission employed an “unprecedented interpretation” of a 39-year-old rule when it filed a “novel civil liability suit” against energy futures trading company EOX Holdings and a Houston energy trader that resulted in a $7.5 million penalty.