Texas dealmaking slowed a bit last week, but continued the recent brisk tempo. Don’t be surprised if there is a significant uptick in the making. The recently released Dykema survey reveals remarkable optimism for M&A activity in the coming year. The Lawbook’s Claire Poole explains.
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Fifth Circuit Affirms Verdict in Favor of Saudi Prince
The U.S. Court of Appeals for the Fifth Circuit has affirmed a 2017 jury verdict that awarded $3 million to a member of the Saudi royal family in a breach of contract dispute. The ruling benefits Prince Mansour Bin Abdullah Al-Saud of the Kingdom of Saudi Arabia. Details here of the ruling.
Baker McKenzie Picks Up M&A Partner John Quattrocchi
Quattrocchi was previously at Weil.
‘Frack Master’ Faulkner Pleads Guilty to Bilking Millions from Investors
Breitling Energy CEO Christopher Faulkner – the self-proclaimed ‘frack master’ – admitted Tuesday in federal court documents that he spent tens-of-millions of dollars of investor money on booze, strippers and expensive cars. The Texas Lawbook has full details.
FTC Abandons False Advertising Case Against DIRECTV
The Federal Trade Commission on Friday dismissed its remaining claims against DIRECTV in the middle of a bench trial that once had $4 billion at stake. The dismissal is the denouement to an opinion issued by a federal judge in California in August that arguably killed the case for the FTC.
Baker Botts aids WorleyParsons on $3.3B purchase of energy, chemicals and resources segment from Jacobs
Jacobs Engineering Group Inc. of Dallas announced Monday that it agreed to sell its energy, chemicals and resources segment to Australia-traded WorleyParsons Ltd. for $3.3 billion. The move makes WorleyParsons the world’s biggest provider of professional services in energy and resources. Claire Poole explains.
Kirkland, V&E Top M&A Legal Advisor Rankings in TX
New Mergermarket data provided exclusively to The Texas Lawbook shows that Kirkland & Ellis widened its lead in advising Texas companies involved in M&A activity during the first three quarters of 2018. V&E and Jones Day rank second and third. The Lawbook has the top 30 law firms by deal count.
Barry Sorrels Represents Ex-Dallas Councilman in Tax Evasion Plea Deal
The Dallas County schools bribery scandal, which has led to convictions of two high-ranking Dallas city officials, a school superintendent and two businessmen, appears to be winding down. Four-term Dallas City Councilman Larry Duncan pleaded guilty Monday to one count of tax evasion. The Texas Lawbook has the lawyers involved.
Texas Minority Counsel Program Announces Recipients of 2018 Awards
Chasity Henry, Michael Pegues and U.S. District Judge Robert L. Pitman of the Western District of Texas received awards at the annual Texas Minority Counsel Program held last week in Houston.
Rusty Hardin Promotes Three to Partner
The Houston trial firm’s newly-minted partners are all women.