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Another Record for Texas Revenues in 2022

The top 50 firms in Texas corporate law continued to thrive in 2022, generating more than $8 billion for the first time. The Texas Lawbook 50 raked in a record $8.6 billion in 2022 — 7.6 percent more than the prior year.

Thirty-eight of the Lawbook 50 firms scored higher revenues in their Texas offices last year than in 2021. Thirty-five of them achieved record revenues in 2022. Texas corporate law roared to new heights because of strong demand across the board, with work generated by headline events like the Winter Storm Uri litigation, the enactment of the Inflation Reduction Act, which spurred a considerable amount of transactional work in the energy industry and a steady flow of M&A activity, including a handful of mega-transactions. The Texas Lawbook has the exclusive data and analysis.

May 15, 2023 Richard Alm & Mark Curriden

Kirkland, Latham Advise on ONEOK’s $18.8B Acquisition of Magellan Midstream

The deal, the largest transaction among publicly traded energy firms so far this year, combines ONEOK’s natural gas liquids business with Magellan’s vast network of refined petroleum pipelines.

May 14, 2023 Allen Pusey

Texas Law Schools Make Jumps in 2024 U.S. News Rankings

U.S. News & World Report had to delay its release of the 2024 rankings after some institutions raised questions about the data. The new list shows the University of Texas at Austin School of Law still leads the state, but Texas A&M University School of Law is rising rapidly.

May 12, 2023 Michelle Casady

P.S. — Boards, Banks & Babies on Doorsteps

In this week’s edition of P.S., Baker Botts receives an award from a longstanding pro bono client, Gray Reed announces a first-of-its-kind firmwide volunteer day, Texas A&M’s board of regents elects a notable chairman and the Texas Access to Justice Foundation announces a new partnership with a bank that will help provide funding for civil legal services to Texans in need. Natalie Posgate has the details.

May 12, 2023 Natalie Posgate

Dallas Judge Orders BMW, Local Counsel to Pay $773K Sanction for Foot-Dragging in ‘Lemon’ SUV Suit

In a scathing order, Dallas County District Judge Eric V. Moyé said BMW and Hedrick Kring Bailey have used “delay, misdirection, and both rejected as well as frivolous arguments to make litigation unfairly difficult and expensive for its opponents.”

May 11, 2023 Bruce Tomaso

Baker McKenzie’s Nick Kennedy Goes to Washington

Nick Kennedy, a partner in the firm’s Dallas office, recently argued his first case before the U.S. Supreme Court. He sat for an interview with The Lawbook about the experience, the preparation and the possible ramifications of the court’s decision.

May 11, 2023 Michelle Casady

Expert Voices: ‘Dear GC, You May Need to Amend Your Form Natural Gas Contracts’

The Uniform Commercial Code — in all its forms — tells us that the increased or unforeseen cost of selling a good alone does not excuse performance. After all, a rise in prices or the collapse of a given market is no justification, the UCC states, “for that is exactly the type of business risk which business contracts made at fixed prices are intended to cover.” But recent case law puts a finer point on the issue and may require lawyers to refine their form natural gas purchase and supply contracts to redefine force majeure in certain circumstances.

May 11, 2023 James Rogers & Sofia Colorado

Mattress Firm GC Kindel Nuno Leads $4B Sale to Tempur Sealy

Houston-based Mattress Firm emerged from bankruptcy in November 2018 after only two months. The deal, which is likely to require antitrust scrutiny, involves more than 3,000 brick and mortar stores worldwide.

May 10, 2023 Allen Pusey

Irving-Based Mining Co. Can’t Recover $48M Mexican Judgment

The ruling is the latest — but surely not the last — in an 11-year litigation war over the operation of a gold mine in Sinaloa, Mexico.

May 9, 2023 Bruce Tomaso

FedEX, Amici Tell 5^th Circ. $365M Punitive Award Can’t Stand

The International Association of Defense Counsel, the Federation of Defense and Corporate Counsel, Airlines for America, the U.S. Chamber of Commerce and Lawyers for Civil Justice all filed amicus briefs in support of FedEx last week. FedEx is fighting a $366 million jury verdict in favor of former employee Jennifer Harris.

May 9, 2023 Michelle Casady