In this edition of P.S., we have details on an October luncheon that will honor Dallas attorney Frank Stevenson, the State Fair of Texas’ newest board member and his extensive history serving the organization and October dates for the Dallas Volunteer Attorney Program’s virtual and in-person legal clinics.
More Stories
Clear Channel Outdoor Pays $26M to SEC on FCPA Charges
The U.S. Securities and Exchange Commission has charged San Antonio-based Clear Channel Outdoor Holdings Inc. regarding actions taken by employees at a then-Chinese subsidiary to bribe Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act.
In a 13-page order issued Thursday, SEC officials announced that Clear Channel and its majority-owned subsidiary in China called Clear Media Limited — a subsidiary it has since sold — had “consented” to the federal agency’s findings that it violated anti-bribery, recordkeeping and internal accounting controls provisions of the Securities Exchange Act of 1934.
Enforcement Imperialism or Applying Precedent? SEC’s NFT Enforcement Actions Reignite Digital Asset Debate
Overreach. Jurisdictional landgrab. Regulation by enforcement. These terms and expressions — and many more “colorful” turns of phrase — are used by some to describe the Securities and Exchange Commission’s approach to enforcement at the intersection of digital assets and the federal securities laws. The SEC has repeatedly rejected such claims and has yet to act upon industry calls for increased clarity and guidance.
But it is the SEC’s most recent enforcement actions — its first two cases involving nonfungible tokens — that have yet again brought forth the SEC’s critics. What should we make of these first-of-their-kind enforcement actions? Doesn’t the lack of fungibility of NFTs move these tokens outside the SEC’s jurisdictional reach, making this the latest example of overreach? Or are these matters simply the latest actions in line with the SEC’s longstanding enforcement approach?
Energy Transfer Claims Fraud in $93M Contract Over Sale of West Texas Gas Gathering Company
The sellers of a gas gathering company in far West Texas seek more than $100 million from Energy Transfer for a breach of contract. Energy Transfer says the agreement was a scheme to collect a $93 million check and should be nullified.
‘The Ticket’ Settles with Ex-Hosts McDowell and Kemp
The radio station’s owners sued the two broadcast celebrities, accusing them of violating their noncompete agreements by starting a sports-talk podcast shortly after quitting in July. U.S. District Judge Karen Gren Scholer, presiding over the case, repeatedly encouraged to two sides to resolve their differences.
Texas Legal Market: Soft Landing, New Take-Offs or Just More of the Same?
The Texas legal market — just like the national economy — seems to be moving forward but at a considerably slower and more cautious pace. Lateral hiring of associates, especially transactional practitioners, is rare and six-digit signing bonuses are history. Partners with strong books of business, however, remain in demand.
Litigation partners, senior associates and counsel are more sought-after than those in the transactional practices. The DFW lateral hiring legal market is a tad stronger than Houston right now. Austin’s legal hiring has cooled considerably.
The Texas Lawbook interviewed four Texas legal industry insiders to get their insights on the Texas legal market and what they expect for the rest of 2023 and 2024.
The ‘Lasso Way’: Lessons for Lawyers from Ted Lasso Season Three
Season Three provided more takeaways for enriching attorneys on “The Lasso Way.” And of course, more quotable pearls of wisdom.
Appellate Court Threatens Contempt Proceedings Against Harris County District Judge
Harris County Judge Ursula Hall has until 5 p.m. Monday to rule on a motion that has been pending before her in a foreclosure dispute for three years and five months or the First Court of Appeals has said it will initiate contempt proceedings.
CDT Roundup: 23 Deals, 17 Firms, 230 Lawyers, $6.4B
Hydrogen ranks No. 1 in the Periodic Table of Elements, but its carbon-heavy production process has made it a target – not only of environmental concerns — but of potential solutions. Its elemental role in a variety of industrial production processes has made the pursuit of CCS technologies (carbon capture and sequestration) a rising star in a Texas-led pursuit of scalable environmental abatement. Alan Alexander, a partner at Vinson & Elkins, has made himself part of that pursuit. His views are part of this week’s CDT Roundup, along with the usual summaries of new transactions and the roster of lawyers who made them.
CapM Lawyers Lionberger, Brown Leave Winston for H&K
The pair worked on various public and private offerings of equity and debt securities as well as IPO’s, often involving SPACs.