The Fifth Circuit ruled Monday that Yahoo owes Dallas-based prize promoter SCA Promotions $5.5 million for backing out of a deal designed to pay $1 billion to anyone who successfully predicted the winner of all 63 games in the 2014 NCAA men’s basketball tournament.
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Updated – Jeff Tillotson Deposes Warren Buffett & Marissa Mayer, Defeats Yahoo at 5th Circuit
Updated – Jeff Tillotson Deposes Warren Buffett & Marissa Mayer, Defeats Yahoo at 5th Circuit
The Fifth Circuit ruled Monday that Yahoo owes Dallas-based prize promoter SCA Promotions $5.5 million for backing out of a deal designed to pay $1 billion to anyone who successfully predicted the winner of all 63 games in the 2014 NCAA men’s basketball tournament.
Kirkland and Jones Day Advise in Newest EFH-Oncor Deal
Law firms have generated hundreds of millions of dollars from the EFH bankruptcy and the billable hours continued to mount over the weekend. EFH GC Andy Wright and the Houston office of Kirkland & Ellis are leading the bankrupt energy company’s sale to Sempra Energy for $9.45 billion in cash plus assumption of billions in debt. Jones Day is advising Oncor. White & Case represents Sempra. The Texas Lawbook has full details.
Fifth Circuit: Context Matters in Review of Workplace Rules Under NLRA
In a recent decision, the Fifth Circuit overturned much of a National Labor Relations Board holding that several workplace conduct rules at T-Mobile and MetroPCS violated employee rights under the Act. The court clarified the standard for reviewing Board findings, stating that a “reasonable employee” will interpret workplace rules in light of “the everydayness of [the] job” rather than how they might impact protected activities.
Houston Trial Lawyer Paul Yetter Inducted as IATL Fellow
IATL has an exclusive membership of 500 U.S. trial lawyers.
State Bar Receives ABA Partnership Award
The State Bar of Texas recently announced that it has won a national award from the American Bar Association for its Texas Minority Counsel Program (TMCP).
$3.8B Energy Merger = Lots of Texas Lawyers & Financial Advisers Billing Hours
More than 50 lawyers from five different law firms – Bracewell, Haynes and Boone, Kirkland & Ellis and Latham & Watkins – are representing clients in the $3.8 billion merger this week of Silver Run Acquisitions II with Alta Mesa Holdings and Kingfisher Midstream. The financial advisers include Barclays, Tudor, Pickering, Holt, Citigroup, Goldman Sachs, Morgan Stanley and JP Morgan. The Texas Lawbook has the details.
Transocean Turns to King & Spalding for $3.4B Acquisition
Transocean GC Brady Long selected King & Spalding as the company’s lead U.S. legal adviser on its $3.4 billion purchase of Norway’s Songa Offshore announced Tuesday – a deal characterized as the biggest offshore drilling sector merger since oil prices collapsed in 2014.