The week ending April 12 saw 14 deals reported with an aggregate value of only $2.7 billion. Don’t let that mislead. It’s both better and worse than the numbers suggest. There were 10 M&A/funding deals. But the bulk of the M&A/funding value was provided by a $1 billion fund closing. That and more in this week’s CDT Roundup, The Texas Lawbook‘s regular feature highlighting the work Texas dealmakers are doing inside and outside the state.
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Susman Godfrey: President Trump ‘is Abusing the Powers of His Office … in Retaliation Against Organizations and People He Dislikes’
Texas litigation powerhouse Susman Godfrey filed a federal lawsuit late Friday accusing President Donald Trump of issuing unconstitutional executive orders against it and other law firms and claiming the president’s actions are “a grave threat to this foundational premise of our Republic.”
Bankruptcy Judge Isgur Rips GWG Holdings Trustee’s Lawyers on Lack of Due Process Notice to Investors
U.S. Bankruptcy Judge Marvin Isgur ended a hearing Friday morning in the GWG Holdings case after finding lawyers for the trustee had failed to meet their due process obligations under the constitution to provide bondholders with notice of how a proposed settlement would impact them. “I find there is not due process notice and this is not a close call,” he said, adding the effort of the lawyers to inform bondholders, some of whom put their life savings in the company, that they could expect to get back only about 3 percent of what they invested was “completely deficient” and “an embarrassment.”
Four Law Firms in Texas Cut Deal with White House
Faced with the threat by President Donald Trump of potentially ruinous executive orders, five of the largest and most profitable corporate law firms in the U.S. — including four that have large operations in Texas — reached settlement agreements Friday with the White House that require them to allow an independent outside counsel to monitor their recruiting and hiring practices for possible discriminatory efforts.
Judge Godbey: Threats Against Judges are a Threat to Judicial Independence
The event was described as a “fireside chat,” intended as a brief, informal Q&A session to kick off the 8th Annual Bench Bar Conference for the Northern District of Texas. The discussion featured NDTX District Clerk Karen Mitchell and NDTX Chief Judge David Godbey. They began by addressing the dynamics of the district and common challenges related to budgeting and policy, including the impact of AI. However, the conversation also took a more serious turn as they talked about the issue of judicial death threats. “Non-elected, active citizens will send me death threats and publish my personal information on the internet and encourage like-minded people to try to kill me,” he said. “That’s a different ballgame.”
P.S. — Sound of Service: This Year’s ACC Houston Pro Bono and Diversity Recipients Strike Common Chord
This week’s P.S. Column is packed with award winners, from corporate counsels who are leading the way in pro bono and diversity initiatives to the longest-serving woman justice on the Texas Supreme Court to rock-and-roll attorneys fundraising for charities.
Should Law Firms Settle or Fight Trump’s EOs? Readers Respond in a Texas Lawbook Online Forum: Sally Helppie, Attorney (Dallas-Fort Worth)
Large corporate law firms have faced unprecedented actions, including presidential executive orders targeting them and more. The Texas Lawbook established an open forum for lawyers, general counsel, law professors and judges to provide substantive responses to seven questions in an online survey. We’re publishing the individual responses from our readers.
WDTX Chief Judge Removes Jackson Walker Bankruptcy Fee Cases from SDTX Chief Bankruptcy Judge
Chief U.S. District Judge for the Western District of Texas, Alia Moses, has taken control of the 34 bankruptcy cases where the U.S. Trustee is seeking to clawback millions in fees awarded to Dallas-based
Jackson Walker. “This unique case nevertheless requires stiff measures. The need to reestablish public trust and
confidence in the court system alone impels withdrawal in this highly unusual case,” she wrote.
Judge Moses to Decide Standing Issue in Ex-Judge Jones Related RICO Case
Roughly one month after deciding a bankruptcy judge should determine whether a former CEO can proceed with his lawsuit alleging he was the victim of a conspiracy carried out in proceedings before former bankruptcy judge David Jones, a federal judge changed her mind this week.
Updated — Susman Godfrey Vows to Fight Trump Executive Order, Simultaneously Scores Win in Billion-Dollar 2020 Presidential Election Defamation Case
The Texas litigation powerhouse Susman Godfrey said Thursday morning that it will fight President Donald Trump’s executive order signed Wednesday that accuses the Houston-based law firm of “egregious conduct and conflicts of interest” and representing “clients that engage in conduct undermining critical American interests and priorities.” The president’s EO came the same day that a Delaware judge gave lawyers for Susman Godfrey and their client, Dominion Voting Systems, a huge court victory against Newsmax Media in a multibillion-dollar defamation lawsuit related to the 2020 presidential election. Last week, Susman Godfrey joined an amicus brief that accuses President Trump of illegally using executive orders to punish law firms who represent clients or causes that he opposes.