A New York firm apparently victimized by questionable bookkeeping in an M&A deal was accused by a bankruptcy trustee last week of using that same questionable bookkeeping to pay $345 million in dividends to itself and its investors from a fraudulently obtained loan.
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Self-Driving Truck Company TuSimple Sues Co-Founder’s New Venture Over Alleged Theft of Trade Secrets, Proprietary Technology
Autonomous trucking company TuSimple Holdings Inc. is suing a new venture led by TuSimple’s co-founder and ex-CEO in one of the first Texas business court cases. Lawyers for TuSimple say the case is among the earliest and largest nationwide in which artificial intelligence technology is at the core.
Spicey Partners Real Estate, aka Cosmed, Files for Bankruptcy in Houston
Rhode Island-based sterilization company Cosmed Group and its affiliated company Spicey Partners Real Estate have filed for bankruptcy in the Southern District of Texas.
P.S. — This Week’s Givers: Haynes Boone, Squire Patton Boggs, John DeWitt Gregory Trust and Witherite
The Dallas Bar Association’s Equal Access to Justice Campaign is about one-third of the way to its $1.4 million goal. Texas Appleseed raised $544,000 at its annual Good Apple Dinner last week, including a $1,000 donation from The Texas Lawbook. A Dallas plaintiff’s law firm is the first in the legal industry to announce it is sponsoring a Thanksgiving food giveaway. And a Squire Patton Boggs senior partner in Dallas will be honored next week for a career of professionalism.
2024-2025 Partner Promotions
The Texas Lawbook tracks promotions to partner by law firms in Texas. Promotions for the 2024/2025 class have started and are available to subscribers in a searchable database that will update as new Texas-based partners are announced.
FourPoint Acquires $2B in Uinta Assets from Ovintiv
Denver-based Ovintiv was also involved on the buyer side of a $2B+ purchase of Canadian upstream assets in the Alberta Montney Basin. More than 50 V&E, Kirkland, Latham and Gibson Dunn lawyers were involved.
SkyWest Airlines Lawyer Seeks to Challenge Ex-Worker’s Sexual Harassment Claim
Under cross-examination, the former employee, Sarah Budd, acknowledged that she provided few details when she complained to her supervisor in 2019 about what she called pervasive crude and demeaning conduct by the overwhelmingly male force of mechanics she worked with at DFW International Airport.
November 14 — The Day Fulbright & Jaworski Changed the Texas Legal Landscape Forever
Fulbright & Jaworski was the biggest of the Big Three in Texas a dozen years ago. For the past century, Fulbright, Baker Botts and Vinson & Elkins reigned as the masters of corporate law in Texas. Lawyers at the trio didn’t need to do much business development because clients rushed to their offices when they needed big-time help. Fulbright and her two sister firms — all headquartered in Houston — represented Texas’ biggest businesses and wealthiest citizens. Each employed about 700 attorneys, and they reported roughly the same revenues and profits. The best students at all the Texas law schools prayed one of the Big Three would extend them an offer. Lawyers joined Fulbright and stayed until they retired. Even as national law firms dipped their toes in the Texas legal market waters, leaders at the Big Three swore they would never merge. Texas forever.
Then came Nov. 14, 2012. And everything changed.
Brown Rudnick Expands in Houston with IP Lit Practice
Brown Rudnick, a Boston-founded law firm that opened in Houston three months ago, announced Wednesday that it has added eight intellectual property litigators, including three partners, to its Texas operation.
Coterra Acquires Permian Assets for $3.95 Billion
Gibson Dunn advised Coterra and Kirkland advised two Denver-based sellers, Franklin Mountain Energy and Avant Natural Resources, on two separate deals involving as many as 550 net well locations and 125 miles of pipeline in New Mexico.