The U.S. Supreme Court heard arguments in 10 cases during the 2023-24 term that came from the U.S. Court of Appeals for the Fifth Circuit. It reversed the Fifth Circuit seven times.
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Texas Experts: SCOTUS’ Jarkesy Decision to Have Limited Impact on SEC Enforcement
The U.S. Supreme Court’s decision Thursday that defendants in fraud cases have the right to a civil jury trial in cases in which the U.S. Securities and Exchange Commission seeks financial penalties appears to be broad and sweeping but may have only minimal impact on SEC enforcement actions. But legal experts say that the decision could have a significant impact on settlements with the SEC. The SEC’s case against George Jarkesy, a Texas hedge fund manager and conservative radio talk show host, dates back to 2013 when the government claims that Jarkesy defrauded investors by falsely leading them to believe that KPMG was auditing two funds he launched. The SEC brought their case in an administrative proceeding before an SEC-appointed ALJ. The SEC hit Jarkesy and a co-defendant with $300,000 in penalties and ordered Jarkesy’s fund, Patriot28, to disgorge about $685,000 in ill-gotten gains.
Also, click here to see the list of Fifth Circuit cases handled by the Supreme Court this term.
XCL Sheds Uinta Basin Assets to SM Energy, NOG for $2.55B
Kirkland & Ellis counseled SM Energy and NOG while Vinson & Elkins advised XCL on the deal, which marks both buyers’ entry into the area.
My Month of Pride: Celebrations, Reflections and Allyship
In this guest article, Jackson Walker bankruptcy partner Genevieve “Gen” Graham talks about her journey of coming out, Pride Month’s significance on a personal level and the importance of allyship.
A&O Shearman’s Dallas Team Leads AI SPAC Deal
Dallas lawyers from A&O Shearman counseled Nidar, a data center provider for artificial intelligence and high-performance computing in India.
Market Manipulation, Fraud Alleged in FW SEC Investigation
Meta Materials Inc. of Nevada agreed in a cease-and-desist order to pay a $1 million fine. A lawsuit against the company’s two principal executives remains pending in the Southern District of New York.
It’s Always Phishing Season for Cyberattacks: Insurance Carriers are a Big Catch for Cybercriminals
Consumers depend on insurance companies to provide protection and support in trying times, but what happens when even that insurance company becomes vulnerable to cyber risk? Just like any other business, it is critical that insurers assess their own cyber risk.
Winstead Adds Real Estate Shareholder from Fried Frank
With the move from New York to Dallas, Luis Murguia is being minted a shareholder.
Schouest, Bamdas, Soshea, BenMaier & Eastham Launches Dallas Office
Houston-based SBSB Eastham has opened its Dallas location with six new partners who joined from Hartline Barger. The group will focus on construction defect litigation, personal injury defense and employment and labor law.
Tom Tippetts, 1977-2024
A longtime M&A lawyer who spent the majority of his career with Haynes Boone died earlier this month. “While he was often the smartest person in any room, he was always the last to acknowledge it,” the firm stated. “But everyone around him benefitted, including his partners, young lawyers who became his mentees, the many clients turned friends and countless colleagues who shared his company and conversation.”