XCL Sheds Uinta Basin Assets to SM Energy, NOG for $2.55B
Kirkland & Ellis counseled SM Energy and NOG while Vinson & Elkins advised XCL on the deal, which marks both buyers' entry into the area.
Market Manipulation, Fraud Alleged in FW SEC Investigation
Meta Materials Inc. of Nevada agreed in a cease-and-desist order to pay a $1 million fine. A lawsuit against the company’s two principal executives remains pending in the Southern District of New York.
CDT Roundup: 12 Deals, 8 Firms, 137 Lawyers, $5.7B
Thomas Laughlin is one busy dude. Trinity Hunt Partners helps keep him that way. The CDT Roundup this week takes a deeper look at what Trinity and Laughlin, a Dallas-based Kirkland PE partner, have been up to, of late. There's that, and the usual summaries of transactions reported last week along with the firms and lawyers who worked them. But brace yourself; the list will be, shall we say, a brief read.
Litigation Roundup: Oncor’s Transmission Line Appraisal Suit to Proceed
In this edition of Litigation Roundup, Haynes Boone helps Fox News escape a defamation lawsuit stemming from the Allen Outlet Mall shooting, a Metroplex resident is sued by the U.S. Securities and Exchange Commission for fraud over his allegedly bogus $200 million offer to buy Richard Branson’s Virgin Orbit and a former San Antonio-area city councilwoman is vindicated by the U.S. Supreme Court.
Landfill Dispute Returned to District Court Minus Fair Market Value Claim
The Texas Supreme Court kept alive the lawsuit filed by Travis Central Appraisal District over a landfill’s slashed property valuation but returned the case to the district court on substantially narrowed grounds. The court sided with Texas Disposal System in removing the appraiser’s fair market value claim but will allow market value evidence to be heard. The tax dispute centers on an unusual property that also houses exotic animals and hosts private parties.
Divided Court Wipes Out Dentist’s $16M Medicaid Fraud Penalty
During oral arguments, much of the court’s questioning centered around whether Texas had proven scienter, or that Dr. Richard Malouf knew he was violating the statute when he submitted 1,842 claims for reimbursement, which is required for the judgment against Malouf to stand. But that was not the issue that carried the day for Malouf.
P.S. — A Pledge to Help Students, An Immigrant-Oriented Public Defender System Gaining Notice
This week’s P.S. features the winners of two ABA awards that recognize outstanding public defenders and other public sector lawyers and details on a Dallas law firm’s hefty batch of higher education scholarships being distributed to students in DFW, Chicago and Atlanta to the collective tune of nearly $900,000.
Nate Paul’s Fight Against Criminal Contempt Finding Goes to SCOTUS
Paul, who argues that what happened to him in this case is “a stunning episode of Wild West justice,” filed his petition on June 13. The Mitte Foundation, which alleges Paul’s petition contains “many factual misstatements,” has until July 18 to file a response. The petition asks the U.S. Supreme Court to answer two questions: 1. Whether a criminal-contempt prosecution by an interested private party violates the Due Process Clause. 2. Whether sentencing a criminal defendant to jail via email, in absentia and without the opportunity to address the judge, violates the Due Process Clause or the Sixth Amendment.
A&O Shearman: Texas is Strategic to New Firm’s Success
The 800 partners of the newly merged firm A&O Shearman recently conducted their first partner retreat in Denmark but a big part of their focus was 5,180 miles away on their practices in Houston, Dallas and Austin. The 3,900-lawyer corporate firm, the result of Allen & Overy and Shearman & Sterling combining, has 64 attorneys in Texas, but its leaders tell The Texas Lawbook major additions are planned.
“We are less than two months into this new firm, but the growth opportunities we see now are significantly larger than the opportunities for growth we saw before,” said Bill Nelson, managing partner of the Texas region for A&O Shearman and a capital markets partner in the firm’s Houston office.
CDT Roundup: 13 Deals, 16 Firms, 214 Lawyers, $9.9B
There were three billion-dollar transactions last week: a shale E&P deal, an offshore drilling acquisition and a midstream divestiture. All were in energy, but they had something else in common: they are part of an on-going consolidation in nearly every phase of energy production. The CDT Roundup takes a look at what these latest deals tell us, along with the usual summation of last week's transactions and the lawyers and firms behind them.