An Austin federal judge ordered Waco-based Life Partners Holdings and its CEO and general counsel to pay $46.9 million for violating securities laws. In a scathing, 22-page order, U.S. District Judge James Nowlin made statements that surprised lawyers for both Life Partners and the Securities and Exchange Commission, which brought the lawsuit in 2012. The Texas Lawbook has the details.
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Baker Botts and Porter Hedges Close $460 Million Investment
An affiliate of The Energy & Minerals Group, LP (EMG) has closed its $460 million equity commitment to American Energy Minerals Holdings, LLC (AEMN), which was formed by its parent company to pursue a business plan focused on the acquisition of minerals and overriding royalty interests.
Judge Orders Life Partners, Executives to Pay $46.9 Million
An Austin federal judge has ordered Waco-based Life Partners Holdings, Inc. and two top executives to pay $46.9 million for violating securities laws by filing misleading financial statements and permanently enjoined them from doing so again in the future.
SCOTX Examines When Broad Discovery Becomes Too Broad
How much discovery is too much? The Texas Supreme Court recently offered important guidance on this practical question, holding that a request for “similar” insurance claim files was overly broad, even with limits as to place and time. This article has the full details and analysis.
UPDATE: Winston & Strawn and V&E Advise in $825 Million Transaction
Weatherford International has announced that it will sell its engineered chemistry and integrity drilling fluids businesses to an affiliate of Cleveland-based The Lubrizol Corporation (a subsidiary of Warren Buffet’s Berkshire Hathaway) for $750 million in cash.
UPDATE: Winston & Strawn and V&E Advise in $825 Million Transaction
Weatherford International has announced that it will sell its engineered chemistry and integrity drilling fluids businesses to an affiliate of Cleveland-based The Lubrizol Corporation (a subsidiary of Warren Buffet’s Berkshire Hathaway) for $750 million in cash.
Hunton Closes $4 Billion Credit Lend for Gulf Coast LNG Project
The group of banks Hunton represented financed part of a multi-train natural gas liquefaction and export facilities project on the Gulf Coast Quintana Island region run by Freeport LNG.
NTSB New Drone Decision Impacts Texas Energy, Utility and Real Estate Sectors
The National Transportation Safety Board’s new decision granting regulatory authority of unmanned aircraft systems is a blow to businesses seeking to use drones in a variety of industries. It is now clear that Texas energy and utility companies eyeing drone technology for pipeline or power-line inspections, or commercial agriculture operators considering drones for crop inspections, will need to seek exemptions from the FAA.
Locke Lord Partners Approve Merger with Edwards Wildman
Mathematics professor Maurice Locke started his Dallas solo practice in 1891. Frank Liddell joined a small firm in Houston in 1916. The firm’s first client was the Houston Chronicle and its owner Jesse Jones. Those firms merged in 1999 and then they merged again with other firms. Today, Locke Lord announced that its partners have approved combining again with a Boston firm. The Texas Lawbook has all the details.
Yetter Coleman, HayBoo Challenge TX Foster Care System
The more than 12,000 children in Texas’ long-term foster care system are seeking federal judicial oversight to improve their care.