Main Content
Top Stories
Top Stories
Litigation Roundup: Harrison County Pharma Lawsuit Nets $41.5M Settlement - In this edition of Litigation Roundup, Texas Attorney General Ken Paxton announces a $41.5 million settlement of one Harrison County state court lawsuit against pharmaceutical industry defendants and files another in the same venue, and a fraternity at the University of Texas at Austin draws a wrongful death lawsuit in the wake of a freshman’s death by suicide. November 24, 2025
SPACs Gobble Targets Ahead of Thanksgiving - The week that ended Nov. 22 saw 20 deals reported with a total reported value of $5.5 billion, heavy on deal volume and private equity transactions, including a PE firm buying a majority stake in Topgolf. The seven days prior saw 16 deals at $16.4 billion, marking ten straight deal-weeks of $11 billion or more. Tailing that streak, a week in the single-digit billions seems like a literal downer.
But this time last year saw fewer deals (15) at a lower reported value ($4.55 billion), and a heavy volume of private transactions tends to depress reported values.
It also proved a special week for SPACs — that and more in this edition of CDT Roundup. November 23, 2025
But this time last year saw fewer deals (15) at a lower reported value ($4.55 billion), and a heavy volume of private transactions tends to depress reported values.
It also proved a special week for SPACs — that and more in this edition of CDT Roundup. November 23, 2025
Lawyers Discuss Impact of Judge Smith’s Scathing Dissent in Redistricting Case - Pushing aside what’s already been reported — like the number of times Judge Jerry Smith wrote that he dissents (16), the number of times he calls out Judge Jeffrey Brown by name (279) and the number of times he references the Soros family (17) — The Lawbook asked more than a dozen appellate lawyers to weigh in on the aftermath: whether the tone of the dissent and the majority’s decision on the timing of the opinion’s release would have an impact on the judiciary, and the public’s opinion of the judiciary, moving forward. November 21, 2025
Former TV News Anchor Gets 10 Years in Pandemic Loan Scam - Stephanie Hockridge, a former local news anchor in Phoenix, was sentenced Friday by U.S. District Judge Reed O’Connor of Fort Worth for her role in what prosecutors called a vast fraud based on phony applications for loans under the Covid-era Payroll Protection Program. Her husband, Nathan Reis, pleaded guilty in August for his role in the scam. November 21, 2025
Lynn Pinker Wins Trade Secrets Case in Eastern District of Texas - A jury found Signature Systems Group had committed breach of contract and misappropriated the trade secrets of Spartan Composites, a company that manufactures industrial mats used at construction sites. Following a few hours of deliberation, the jury awarded the requested damages along with punitive damages. November 21, 2025
Houston Appellate Court Won’t DQ AZA as Transocean Defense Counsel - In a five-sentence per curiam opinion issued Thursday morning, the First Court of Appeals in Houston declined to disturb rulings from a trial judge that allowed the law firm Ahmad Zavitsanos & Mensing to continue its defense of Transocean in multidistrict litigation stemming from offshore workers’ injuries. Lawyers from Arnold & Itkin, representing the plaintiffs, had argued the move was required and told The Texas Lawbook Thursday they are considering all options as it relates to a possible appeal. November 20, 2025
Haynes Boone Duo Wins $973K Pro Bono Fraud Verdict in Trial Debut - Haynes Boone associates Ashley Koos and Sean Lewis secured a $973,000 pro bono verdict for gospel singer and minister Wintley Phipps in their first-ever trial, convincing a Harris County jury that a longtime acquaintance and former business partner defrauded Phipps. The young lawyers — standouts from the firm’s inaugural Trial Academy — served as co-first chairs and built a case centered on breached trust, ultimately winning $308,000 in compensatory and $665,000 in punitive damages. Their performance, firm leaders say, reflects both the professional development the academy is designed to foster and the essential role pro bono cases play in giving young attorneys real courtroom experience while expanding access to justice. November 20, 2025
Asked & Answered with Susman Godfrey’s Justin Nelson: Try Your Best, Be Polite and Do Justice - In this edition of Asked & Answered, Susman Godfrey partner Justin Nelson talks about settlements against Fox News and the AI company Anthropic, along with where he sees AI regulation headed. Nelson also discusses lessons learned in his career from clerking for U.S Supreme Court Justice Sandra Day O’Connor to running for Texas attorney general. November 20, 2025Centerpiece
The 40-Year Legacy of Pennzoil v. Texaco — An Appeal for the Ages - Executives at Texaco woke up Nov. 20 — exactly 40 years ago today — like it was the morning after aliens attacked in the movie Independence Day. A day earlier, a Houston jury ruled the New York-based oil and gas giant had tortiously interfered with a 1984 agreement Getty Oil made to merge with Pennzoil and awarded Pennzoil $10.53 billion. Texaco’s stock took a beating — dropping from $80 per share when the litigation started to $32 the week following the trial. Some Wall Street analysts were openly warning about bankruptcy. The company’s convertible bonds plummeted in value. Texaco’s debt rating was cut by Standard & Poor’s. Interest accruing on the judgment was $2.8 million every single day.
Between Thanksgiving 1985 and Christmas 1987, the two energy companies and their ever-expanding roster of litigators did battle. The litigation itself multiplied, including a precedent-setting federal case in New York over Texaco’s appeals bond, a monumental appellate battle, a bizarre decision by the Texas Supreme Court, the world’s largest corporate bankruptcy at the time and a historic settlement.
Both sides hired major reinforcements — fresh legs and fresh eyes, if you will — as the trial teams had been going full speed for 21 straight months. The appeals team for Texaco beefed up with several heavy hitters from Fulbright & Jaworski and David Boies of Cravath in New York. Pennzoil added a Texas superstar in V&E’s Harry Reasoner and Laurence Tribe of Harvard Law School.
In Part II of our series looking back at the significance of the Pennzoil v. Texaco trial, The Lawbook examines the post-verdict appeals, which were historic and precedent-setting. November 20, 2025
The Legacy of Pennzoil v. Texaco 40 Years Later — The Civil Jury Trial of the Century - Forty years ago tomorrow, a Houston jury delivered a verdict that rocked Wall Street and put fear in the heart of corporate dealmakers when it ordered Texaco to pay Pennzoil $10.53 billion — $30 billion today — for tortiously interfering with Pennzoil's agreement to buy Getty Oil. It was largest civil jury verdict in history at the time and is still the largest actual damages verdict ever upheld on appeal. Pennzoil v. Texaco legacy remains significant, as it changed how companies handle mergers and acquisitions, caused the Chamber of Commerce to designate Texas as a judicial hellhole in 1986 and directly led to two decades of massive tort reform efforts that dramatically limited the rights of Texans to sue businesses, doctors and insurance companies for wrongdoing. It also launched Texas trial lawyer Joe Jamail to national stardom and made him the richest trial lawyer in American history.
In this in-depth article, The Texas Lawbook provides a detailed timeline of the events involved in the historic litigation, as well as comments from more than a dozen lawyers about the legal strategies employed. November 18, 2025
Expert Voices
Covenants Not to Compete on ‘Y’all Street’ — Insights on Texas Law for Newly Relocated Texas Professionals - In the midst of a relocation, it’s tempting for companies and professionals alike to narrow their focus on the obvious to-dos, like finding new homes or offices or hiring new staff. But what’s equally important is ensuring all parties understand what their move means in terms of employee job mobility, specifically when it comes to covenants not to compete. November 24, 2025
