The Mergermarket year-end polling is out and the results are optimistic. More than 60 percent of decision-maker respondents from 300 corporate and PE firms predict overall increases in M&A, despite the ongoing threat of inflation and continued geopolitical challenges. The CDT Roundup has details of the survey, as well as which markets they are predicting will prosper. As always, there are the names of Texas lawyers who advised on 14 deals reported last week.
Government Touts $38.5M Recovery in Case it Argued ‘Never Should Have Proceeded This Far’
Five years after first arguing that the False Claims Act Lawsuit against Academy Mortgage Corporation should be dismissed, the Department of Justice publicized the $38.5 million settlement on Wednesday. This lawsuit marked the first time a judge denied the government’s motion to dismiss an FCA suit, presenting an issue of first impression to the Ninth Circuit panel that heard the case. Earlier this month, a case that asks what authority and discretion the government should have to dismiss whistleblower actions was heard by the U.S. Supreme Court.
Texas Capital Bank’s Anna Alvarado: “Lawyers are expected to be strategic partners”
Last month Texas Capital Bank closed a $3.4 billion sale of its insurance premium finance unit, BankDirect Capital Finance. At the center of that transaction was Anna Alvarado, general counsel of TCB. In a Q&A with Claire Poole, Alvarado discusses that deal, her views on lawyers in the banking business and the steep trajectory of a work life that began picking grapes.
DFW & Houston Litigation Boutiques Having Record 2022, Paying Record Bonuses
Civil jury trials all but disappeared across Texas for 18 months due to the Covid-19 pandemic, but the reopening of the courthouse in 2022 has meant a blockbuster year for most civil litigation-focused law firms. Boutiques specializing in complex commercial disputes report they are experiencing a record number of trials, depositions and courtroom battles in 2022. The result, according to legal industry insiders, is that Houston and Dallas litigation boutiques are projecting record revenues, profits and associate bonuses for 2022.
SEC Charges Eight ‘Stock-Picking Gurus’ on Twitter with $100M Scam to Manipulate Share Prices
Four Houston-area men were among eight social media influencers accused Wednesday by the U.S. Securities and Exchange Commission of using Twitter, online chat rooms and a podcast to manipulate stock prices in a $100 million trading scam. The SEC complaint filed in federal court in Houston accuses the eight of promoting stocks via social media and then dumping shares they’d purchased once their promotional efforts drove up the stocks’ prices.
Sidley Advises United Airlines in Historic Widebody Aircraft Purchase
A team led from Houston advised the airline in a widebody aircraft inventory overhaul that will include as many as 200 Boeing 787s over the next decade. Along with earlier announced acquisitions, the company says it will be accepting delivery of some 700 new aircraft, averaging delivery of as many as two per week in 2023.
Dallas Jury Hits Hospital with $10.1M Verdict in Paralysis Case
The panel deliberated for about eight hours before returning the verdict finding Texas Health Presbyterian Hospital Flower Mound 69 percent liable for the permanent injuries suffered by Judy “Jessie” Adams.
CDT Roundup: 14 Deals, 12 Firms, 88 Lawyers, $10.1B
Houston-based NRG Energy made news last week with their $5.2 billion acquisition Vivint Smart Home Inc. The deal included the assumption of $2.4 billion in debt, and was immediately unpopular with the market, but the company says the deal’s expansion of its retail utility product line is worth the price. The CDT Roundup has the lawyers behind that deal, as well as 13 others and a bonus Q&A with Latham partner Ravi Purohit, who has reported several high-profile deals in recent weeks.