A Delaware court ruled Wednesday that a business suing another business did not violate the state’s prohibition against “champerty and maintenance” when it engaged a third-party to finance the litigation. The opinion is believed to be the first such ruling issued by a judge in the U.S.
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Updated – SEC Settles Uni-Pixel’s Investment Fraud Case, Charges Two Former Execs
California-based Uni-Pixel agreed Wednesday to pay the U.S. Securities and Exchange Commission $750,000 to resolve allegations that the technology company fraudulently misled investors about its operations. At the same time, the SEC filed charges against two former Uni-Pixel executives for their role in a scheme in which “materially misleading” statements about the production and sales of a touch-screen sensor product were made public.
Gray Reed Elevates Three to Shareholder
Travis Crabtree, Preston Kamin and Gabe Vick are based in Houston.
Bankruptcy Judge in Sabine Energy Upends ‘Running with the Land’ Covenants
U.S. Bankruptcy Judge Shelley Chapman in Manhattan ruled Tuesday that Houston-based Sabine Oil & Gas Corp. can reject contracts with two companies that gather, treat and transport oil and natural gas as part of their Chapter 11 restructuring. The decision is a huge blow to midstream energy companies, as these contracts were previously viewed as untouchable in bankruptcy.
Sayles Werbner Promotes Two to Shareholder
Shawn Long and Rob Sayles are both graduates of SMU Dedman School of Law.
Wick Phillips Adds Insurance Coverage and Commercial Litigation Partner
The University of Texas School of Law graduate was most recently at Haynes and Boone, where he practiced for nearly 30 years.
ADJT Expands National Reach with Houston Hire
Richard Faulk, who will split his time between Texas and Washington, D.C., joins ADJT from Hollingsworth LLP in the nation’s capital.
Mayer Brown Boosts Financial Services Practice in Houston
David Tallman focuses his practice on mortgage and consumer lending issues, financial privacy and information security requirements.
Schiff Hardin Dallas Partner Tracey Wallace Named Lambda Legal National Co-Chair
Wallace will serve a two-year term.
Bell Nunnally Senior Counsel Sonja McGill Selected to 2016 Class of LCLD Fellows
McGill will spend her “Fellow” year building relationships, participating in in-person training and peer-group projects and maintaining contact with LCLD’s leadership.