The proposed update to the overtime exemptions rule under the Fair Labor Standards Act was finally put out of its misery last week U.S. District Judge Amos Mazzant. The court ruled that the department cannot create a minimum salary so high that it makes the duties test irrelevant.
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Updated – GC Forum Names 2017 Magna Stella Recipients
The Texas General Counsel Forum has awarded its prestigious Magna Stella Awards to five corporate general counsel, two corporate legal departments and three managing counsel. The recipients include four women and four men. The Texas Lawbook has updated this article to make a correction from an earlier version.
Jackson Walker Closes Texan’s Nine-Figure Colorado Ranch Purchase
JW partner Alfie Meyerson cannot identify the buyer or the exact amount of the deal, but the Cielo Vista Ranch in Colorado was listed at $105 million, making it almost certainly the biggest ranch sale in the U.S. so far this year. The property covers 83,000 acres and features the 14,053-foot Culebra Peak, the highest privately-owned summit in the world. “It’s like buying your own national park,” Meyerson told The Texas Lawbook in an exclusive interview.
M&A Round Up: Trio of Deals Keeps Lawyers Busy in the Waning Days of Summer
The end of August found oil and gas lawyers busy cranking out deals before the Labor Day weekend — and the unexpected wrath of Hurricane Harvey. This week’s dealmaking includes: Baker Botts, V&E Counsel on Forum-Global Tubing Hookup; and V&E Counseling NCS Multistage on Spectrum Tracer Acquisition.
Munck Wilson Wins $10.1M Jury Award for iLife
A federal jury ruled Thursday that gaming company Nintendo infringed on patented motion detection technology developed by Dallas-based iLife Technologies. The jury, which heard more than a week of evidence and arguments, awarded $10.1 million to iLife, a technology firm that develops vital sign monitors and other technology.
Sharply Divided 5th Circuit Rejects J&J’s Mandamus Request in Hip Implant MDL
The Fifth Circuit refused to intervene in the massive Johnson & Johnson hip implant multidistrict litigation cases that have been consolidated in federal court in Dallas. But two of the three judges on the panel criticized Judge Ed Kinkeade and asked him to reconsider moving forward with a bellwether trial set to start Sept. 5. The Texas Lawbook has full details.
Corporate Lawyers: TX AG Paxton ’s Defense of Pro-Insurance Industry Law is Misleading, Wrong
Texas Attorney General Ken Paxton and lawyers representing large and midsized businesses in the state are providing contradictory information about the impact of a new law governing the rights of people and businesses to legally challenge insurance companies decision in paying property owners in storm-related losses. Paxton says new law is no big deal and that the lawyers are deliberately misleading their clients.
Federal & State Task Force Created to Combat Hurricane Harvey Fraud Schemes
Federal law enforcement authorities announced late Thursday that they have formed a task force with state and local officials in South Texas designed to tackle fraud schemes targeting victims of Hurricane Harvey. At the same time, SEC Regional Director Shamoil Shipchandler tells The Texas Lawbook that the federal agency is closely watching the impact that Hurricane Harvey and the subsequent flooding is having – and potentially could have – on the corporations and financial advisers that it regulates.
Business Beware: Harvey Cyber Scams Targeting the Generosity of Employees
Even as the South Texas disaster brings out the best in so many, it brings out the worst in others. Cyber thieves, online attackers and cyber scammers are using email and social media to try and capitalize on and profit from the generosity of would-be charitable donors. Former Datatech GC John Ansbach has the details.
Neither Hurricane Harvey nor Record Flooding Stopped Kirkland, Sidley and Baker Botts from Completing Zenith Deal
Lots of M&A dealmakers boast about deals being turbulent, but the lawyers at Kirkland, Sidley and Baker Botts in Houston can now talk about negotiating, papering and announcing a deal in the midst of a category 4 hurricane and record flooding. The Texas Lawbook has the details.