Christmas came in late November for non-partner lawyers at Vinson & Elkins. In an email Thursday to the firm’s associates, V&E announced it is paying them annual bonuses ranging from $15,000 to $115,000 and increasing their compensation between $10,000 and $20,000 per year. First-year associates will now make $225,000 and eighth-year associates will see their annual comp top $550,000 with the bonus.
More Stories
‘I Can Have a More Peaceful Life’: Sidley Helps Sexual Assault Survivor Secure VA Benefits
It was the actions of a series of men in the 1970s and 1980s that derailed the rest of Rachel Faili’s life, even almost ending it. It was the decision by a group of Sidley Austin lawyers to take action and represent this Houston veteran pro bono that helped her move forward from decades of the severe post traumatic stress disorder that has haunted her since her military service.
This is the story of both events, the bridge between them and how a lawyer’s skills can be used to truly make a difference in the lives of those who suffer.
SEC Enforcement: Five Trends to Watch
The Securities and Exchange Commission closed fiscal year 2023 on Sept. 30 with a flurry of enforcement filings. A few things stand out, including a sharp increase in cryptocurrency and other digital asset enforcement actions, which far outstrips the agency’s activity in this space in earlier years. There was also a pronounced jump in enforcement focus on corporate internal controls, continuing a trend that started last fiscal year. Meanwhile, the SEC paid record whistleblower awards and stepped up its whistleblower protection efforts, highlighting their importance to the SEC’s enforcement program. On the other hand, ESG enforcement activity appeared to wane, which contrasts with the prominence SEC officials have given to ESG issues in speeches and proposed rulemaking. And SEC administrative proceedings suffered more blows in court challenges, which, while not appearing to slow the pace at which the SEC is filing enforcement cases, could have implications for the SEC’s efforts to regulate the professionals who practice and appear before it.
Simpson Aids KKR on Buying Rest of Global Atlantic for $2.7B
The Simpson team was co-led by partner Christopher May in Houston. KKR already served as Global Atlantic’s asset manager for the last three years, offering access to its global investment and origination capabilities for the benefit of GA’s policyholders.
SCOTX Ponders if ‘Wrongful Pregnancy’ is Gift from God or Grounds for Damages
The Texas Supreme Court heard oral arguments Tuesday morning in a lawsuit where mother of four Grissel Velasco is suing Dr. Michiel R. Noe for both his failure to perform a sterilization procedure she requested and his failure to inform her the procedure had not been done. Velasco is seeking pain and mental anguish damages for the so-called wrongful pregnancy that came about 15 months after she thought she had been sterilized.
Law Schools Could House New Business Courts
Tasked with implementing new laws creating a business court system for complex, expensive litigation, the Texas Supreme Court is gauging whether the state’s law schools might want to provide courtroom space. With 10 new trial courts and an intermediate appellate court coming online next September, Chief Justice Nathan Hecht discusses logistics and substantive issues the court is considering during its rulemaking process. Meanwhile, the chief justices for the 14 courts of appeals are identifying cases involving state government for likely transfer to the new Fifteenth COA, which will have exclusive jurisdiction over those cases and appeals from the business courts.
CDT Roundup: 9 Deals, 9 Firms, 131 Lawyers, $4.8B
BlackRock is a dirty name, at least among some Texas legislators, for its vigorous investments in energy transition. But it is also the world’s largest asset manager with $9.42 trillion under management. This week’s CDT Roundup looks at BlackRock and the law firms whose Texas offices often count BlackRock as a client. That, along with the Texas lawyers and firms behind the nine deals reported during the holiday-shortened week.
White & Case Has ‘Vastly Exceeded Expectations’ in Texas
In February 2018, the global law firm White & Case opened its Houston office with four lawyers, no associates, no support staff and sublet space in Two Allen Center. The goal, firm leaders announced at the time, was to grow the office to 50 attorneys. Nearly six years later, White & Case now has more than 100 attorneys in its Houston office and occupies three floors in 609 Main Street. The firm has seen revenues double over two years and expects even more growth ahead.
Litigation Roundup: Pharma Cos Draw Texas Fraud Suit, Small Refineries Beat EPA at Fifth Circuit
In this edition of Litigation Roundup, the U.S. Court of Appeals for the Fifth Circuit sides 2-1 with a group of small refineries challenging an EPA decision to deny their requested exemptions from certain obligations under the Clean Air Act, the founder of SAExploration reaches a settlement with the SEC in a $100 million fraud case and private equity firm Welsh, Carson, Anderson & Stowe XI moves to toss an FTC monopoly suit lodged against it.
M&A/CapM Partner Leaves Sidley for Locke Lord
Houston deal lawyer Jon Daly has counseled a range of clients so far this year, including Intrepid Partners, Blue Ocean Acquisition Corp. and Sunoco on M&A and Western Midstream Partners and JP Morgan on capital markets.