Zion Oil & Gas is controversial for many reasons. After 20 years, the Dallas-based company still has no revenues, and its primary mission is to help gain political independence for Israel through science and the Bible. But it is no longer controversial for the possibility that it committed securities fraud against its investors. Natalie Posgate explains.
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Lawyers: Bill Brewer Should be Disqualified from NRA Case for Ethics Reasons
Lawyers for Ackerman McQueen, the Oklahoma advertising agency that worked with the National Rifle Association for more than three decades, want the NRA’s top lawyer, Bill Brewer, booted from their heated litigation claiming he has ethical conflicts and is paid $100,000 a day. The NRA accuses AMc of fraudulent billing.
CDT Roundup: 12 Deals, 9 Firms, 40 Lawyers, $6B
Deals are being terminated or renegotiated all over the place due to the coronavirus and fallen oil prices, with one seller in Texas taking a 30% haircut. Meanwhile, deal activity among Texas lawyers is beginning to slide with no letup in sight.
Austin False Claims Act Practitioner is Aiding Planned Parenthood in Case Before U.S. Supreme Court
Patrick O’Connell is an Austin-based solo whose practice is almost exclusively qui tam cases. He chases fraud on behalf of clients in cases in which the State of Texas is on his side. But in a case now officially before the U.S. Supreme Court, O’Connell finds himself facing off against the Lone Star State in a challenge to its COVID-19 abortion restrictions. The Lawbook’s Tony Mauro explains.
Take These Steps Today to Help Your Company Survive the Current Crisis
The combination of economic crises Texas is now facing will likely fuel corporate restructuring at all levels for years to come. Even before the pandemic, bankruptcy lawyers were preparing for a surge in oil and gas bankruptcies and reorganizations. Jeff Prostok says these challenges are not insurmountable and shares recommendations for at-risk companies in this article.
CEC Entertainment Hires Weil Gotshal and PJT Partners as Advisors in Possible Restructuring
The parent company of Chuck E. Cheese and Peter Piper Pizza has created a committee to explore restructuring and financing opportunities and hired two highly-respected firms as its primary outside advisors, according to documents filed by CEC Entertainment with the U.S. Securities and Exchange Commission.
Complex Case, Speedy Trial: WDTX Judge Hands $40M Win to Repeat Precision
U.S. District Judge Alan Albright in the Western District of Texas has issued his first patent trial judgment. But it is the tart wording of his earlier 150-page finding of fact that deserves the true spotlight. That, and the team of Locke Lord and Susman Godfrey lawyers who secured the $40 million win.
Kirkland Houston Partner Departs for Akin Gump
UPDATED The attorney specializes in private equity financings and debt restructurings in the energy industry, including special and distressed situations.
COVID-19, Cybersecurity and Workplace Investigations
These aren’t normal times. But something that has continued as normal is the work of responding to cybersecurity incidents and conducting workplace investigations. Cyberattackers are absolutely seeking to take advantage of the uncertainty and fear associated with COVID-19. In this article, John Ansbach discusses ways to avoid the pitfalls and challenges that lie ahead.
Texas M&A Falls Dramatically in Q1
For 51 consecutive quarters, energy was the dominant sector for M&A in Texas. That streak ended during the first three months of 2020, as M&A activity plunged in deal value to levels not witnessed since the Great Recession. Not one of the seven biggest-dollar Texas deals had anything to do with oil and gas, according to Mergermarket. The Texas Lawbook has the details.