Sam Bankman Fried (SBF) and his FTX exchange became the latest very public example exposing risks in cryptocurrency companies. It will take time before the entire impact of the FTX failure and bankruptcy is known. However, here are five things for investors to take away from the recent events involving FTX when considering the future of digital assets.
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Jury Awards Families of Fatal Crash Victims $12.1M
A Harris County jury awarded the money to the families of three individuals who were among six killed when a twin-engine plane crashed outside Kerrville in 2019. Deliberations took about five hours before the panel determined a Raymond James financial advisor who was piloting the plane was responsible for the crash and was on the clock at the time.
Winstead Elects Jeff Matthews as Next Leader
Shareholders at the corporate law firm Winstead have elected the chair of its business and transactions practice, Jeff Matthews, as the firm’s next chairman and CEO. A 2003 graduate of the University of Texas School of Law and the son of a former Exxon general counsel, Matthews replaces David Dawson, who has led Winstead since 2014. In an interview with The Texas Lawbook, Matthews discusses the Texas firm’s position in the legal market, how 2022 has gone so far and whether there is any interest in a future merger.
CDT Roundup: 26 Deals, 11 Firms, 172 Lawyers, $12.7B
There’s no surprise in the fact that global PE deals are down. With inflation, market volatility and geopolitical concerns, investors have become increasingly cautious and borrowers increasingly concerned, according to a new Mergermarket report. But there are also indications that some underlying changes are taking place in the PE pipeline. This week’s CDT Roundup has more on the Mergermarket survey, as well as the usual roster of lawyers who reported deals last week.
This Associate Logged 100 Hours of Pro Bono in the Last Year. Here’s How He Did It
As the year comes to an end, some may be reflecting on their legal practice and looking for ways to squeeze more pro bono into their life. The Texas Lawbook spoke with Stinson associate and pro bono pro Grant DuBois, who manages a pro bono misdemeanor criminal docket in his spare time and provides tips for weaving more pro bono work into the daily grind.
“Attorneys have been viewed by the general public as an undesirable group since the beginning of our profession,” DuBois says. “Many refer to us as ‘money-sucking vampires’ motivated not by client service, but by greed. One of the ways we can start to change this generalized perception is to provide pro bono services as often as we can.”
Litigation Roundup: Targa Wants $129M Award Axed, 5th Circ. Won’t Rehear Courtroom Prayer Case
In this week’s edition of litigation roundup, Targa Channelview files its opening brief with the Texas Supreme Court in a long-running $129 million fight with Vitol Americas, Maersk says its not responsible for cargo lost at sea and a former Abraham Watkins’ associate accused of taking files and clients from the firm fires back with an anti-SLAPP dismissal bid.
SEC’s David Peavler Joining Jones Day
David Peavler is following in the steps of his two predecessors who were regional directors of the U.S. Securities and Exchange Commission’s Fort Worth office. Peavler, in an exclusive interview with The Texas Lawbook, said he will join the Dallas office of the global law firm Jones Day as a partner leading the firm’s Texas securities litigation and SEC enforcement practice.
Peavler, who announced Thursday that he was resigning as the regional director of the SEC, is a huge catch for Jones Day because of his deep experience in the area of financial accounting and because he has prior experience as a corporate general counsel – the very people who hire Jones Day for legal advice.
Texas Lawyers Lead SEC, AT&T $6.25M Lawsuit Settlement
AT&T and the SEC announced they have agreed to settle a lawsuit that accused the Dallas-based telecom giant of selectively leaking confidential financial information to Wall Street analysts in hopes of potentially manipulating revenue projections during the first quarter 2016. Two AT&T in-house counsel and a slew of lawyers from Norton Rose Fulbright, Tillotson Johnson & Patton, Willkie Farr and Haynes and Boone represented AT&T and its executives.
Baker Botts Awards $20K-$115K Annual Bonuses to Associates
Baker Botts became the first Texas-based law firm to announce year-end bonuses to associates. The Houston-based firm, in a Dec. 2 memo by Baker Botts managing partner John Martin, said associates hired out of law school in 2021 will get a $20,000 bonus this holiday. The scale accelerates up to $115,000 bonuses for seven- and eight-year associates hired in 2015 and before.
P.S. — A Couple Awards, A Memorial Fund, ‘It’s Fun to Stay at the YMCA’
In this week’s P.S. column, the Human Rights Initiative of North Texas hosts its annual Stories from the HeART fundraiser and honors a group of Texas lawyers for their contributions, a memorial fund set up in the memory of the late Dallas lawyer, Clarence Brown, seeks to raise more funds to benefit students of color at the Lamplighter School, and two nonprofits announce leadership efforts by lawyers.