Federal prosecutors say that roughly 30,000 investors are victims of the UDF executives under the Crime Victims Rights Act. Sentencing is set for May 20.
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Texas Appeals Court Hears Arguments on Legality of $9,000 Electric Rates During Winter Storm Uri
The Texas Public Utility Commission’s February 2021 emergency rules allowing an increase in electric rates to $9,000 per megawatt hour in response to Winter Storm Uri were “invalid and ineffective” and “wreaked havoc” on the state’s power system, lawyers representing several large energy companies told a Texas appeals court Wednesday. A decision by the Austin Court of Appeals could impact the efforts by more than a dozen electric providers challenging billions of dollars in ERCOT invoices.
CDT Roundup: 10 Deals; 12 Firms; 59 Lawyers; $2.24B
There is a bevy of reasons that carve-outs have become scarce of late — pandemic, inflation, war, etc. But the underlying reasons for carve-outs remain, even if the market is momentarily sparse. The CDT Roundup explores last week’s deals, which include a carve-out, as well as a few of the obstacles that put the wider market on pause.
Bell Nunnally’s UNTD Business Law Forum Seeks to Provide Real World View of Business Law, Generate Dialogue with Law School Students
Lawyers from the Dallas-based firm visited with The Texas Lawbook about the program’s goals and takeaways, including the importance of mentorship and how business law is an empowerment tool and offers greater entrepreneurial opportunities.
All-Women Slate of Appellate Advocates to Argue Historic Winter Storm Uri Case
Lawyers for some of Texas’ largest energy companies and their government regulators are scheduled to argue one of the most important cases resulting from Winter Storm Uri last year and the line-up includes some of the most prominent women appellate experts in Texas. The question is whether the Texas Public Utility Commission illegally adopted rules during the historic storm that allowed the Electric Reliability Council of Texas to increase the price of electricity 650 percent for nearly a week. Billions of dollars for several major energy companies are at stake.
Two Firms Race to the Top of the Texas Legal Market
Vinson & Elkins vs. Kirkland & Ellis. One is a storied Houston-based firm with deep connections in the Oil Patch that has been a powerhouse in law, energy and politics for more than a century. The other is a Chicago-founded firm that came to Texas just eight years ago with deep pockets, high profits and an aggressive strategic growth plan. Lawyers for the two corporate law giants often sit across the table on some of the biggest mergers and acquisitions involving energy companies and private equity firms. Both firms are always in the top three of The Texas Lawbook’s Corporate Deal Tracker scorecard of corporate transactions.
Exclusive new Texas Lawbook 50 data shows that Kirkland and V&E lawyers in Texas achieved record highs in revenues and profits in 2021. The runner up in their battle for No. 1 in Texas has to settle for having their best year ever.
American Airlines Flight Attendant Gets Day in Court
A jury trial that began Monday in Fort Worth state court will determine whether American Airlines will be held liable for an alleged sexual assault that one of its longtime flight attendants said was encouraged by airline executives. The night in question involves British celebrity chef Mark Sargeant. Natalie Posgate has the details.
Unparalleled Growth, Revenues, Profits – The State of Corporate Law in Texas in 2021
The Texas Lawbook 50 ranking by firm revenues in Texas is out. The financial numbers are staggering. For corporate law firms operating in Texas, 2021 wasn’t just a great year – it was almost certainly the best year ever. Thirty-eight of the 50 law firms achieved record revenues. Seventeen law firms grew Texas revenues by 20 percent or more. Six law firms grew Texas revenues by 40 percent or more.
No law firm had ever come close to generating $600 million in revenue from their Texas operations. In 2021, two surpassed that mark. One skipped right over it and went straight to $725 million. This Texas Lawbook exclusive shows, 2021 will go down in corporate legal history as one for the ages.
Capital Markets Pro Michelle Earley Moves to O’Melveny
With the move, Michelle Earley is rejoining former Locke Lord colleagues who joined O’Melveny in January. Earley was on the executive committee and was a diversity and inclusion leader at Locke Lord.
Former Texas SG Kyle Hawkins Exits Gibson Dunn for Lehotsky Keller Litigation Boutique
Former Texas solicitor general Kyle Hawkins is joining the litigation boutique Lehotsky Keller as head of its Texas appellate practice group. As Texas SG Hawkins argued four times before the U.S. Supreme Court. Hawkins had been with Gibson Dunn since he left as solicitor general last year.