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Divided Fifth Circuit Strikes Down SEC’s Approval of Nasdaq Diversity Rules

Judge Andrew S. Oldham and the majority focused their decision on a requirement in the Securities Exchange Act dictating that the SEC must first find that any proposed regulation “is related to the purposes of the Exchange Act” before approving it. Judge Stephen A. Higginson focused his dissent on the “limited reviewing role” Congress carved out for the SEC as it relates to its ability to approve rules proposed by “self-regulatory organizations” like Nasdaq. 

Michelle Casady

Bloomberg Law: Waco Judge Albright Moving to Austin

U.S. District Court Judge Alan Albright, one of the most popular jurists for handling patent infringement disputes in the U.S., is moving his chambers from Waco to Austin, Bloomberg Law reported late Wednesday. The judges of the Western District of Texas have approved Judge Albright’s request to move his primary chambers to Austin in 2025, according to Bloomberg Law. The transfer must be approved by the U.S. Court of Appeals for the Fifth Circuit’s Judicial Council.

Mark Curriden

Southwest Regroups to Defend Free Flights for Low-Income Hispanic Students Against Lawsuit

A federal judge in Dallas has given Southwest Airlines more time to prepare a legal defense against a lawsuit brought by an organization that claims the airline’s program offering free flights for low-income Hispanic students to go home to visit their parents is illegally discriminatory. Senior U.S. District Judge Sidney Fitzwater ruled Dec. 6 that the lawsuit brought by the American Alliance for Equal Rights must proceed forward even though Southwest officials agreed to end the charitable effort several months ago.

Mark Curriden

BakerHostetler Will Ring in New Year with a Texas Expansion

BakerHostetler announced Tuesday that it will kick off 2025 in style by opening its 18th office nationwide and its third in Texas, which will include adding ten transactional lawyers from Locke Lord, including longtime partner Cynthia Bast, who will lead the new office.

Jeff Schnick

Hilda Galvan Seeks to ‘Leverage Experience and Passion to Drive Meaningful Change’

For three decades, Hilda Galvan has established herself as one of the most successful IP litigators in the U.S. and a highly respected leader in the legal profession. She has won huge cases for IBM, Charles Schwab, OnStar, Motorola and Compass Bank. After nearly three decades at global legal giant Jones Day — including a decade as the managing partner of its Dallas office — Galvan has decided to step away to “seek new opportunities to make an impact.”

"I plan to dedicate my efforts to consulting with technology startups, joining corporate boards and deepening my involvement in nonprofit boards and community engagement," Galvan told The Texas Lawbook. "This allows me to leverage my experience and passion in ways that will drive meaningful change.”

Mark Curriden

CDT Roundup: 16 Deals, 10 Firms, 231 Lawyers, $4.8B

In the year that will soon be past, the sheer volume of energy-related, or energy-adjacent transactions are worth noting. Whether in O&G per se, data center energy demands or the more mundane multitude of PE acquisitions in HVAC manufacturing and service companies, the sides seem okay with the value. So, we weren’t that surprised by the November findings of the semi-annual Haynes Boone Borrowing Base Redeterminations Survey. The CDT Roundup takes a look at the details, along with the usual run-down of the week's M&A deals and the lawyers behind them.

Allen Pusey

Law Professors Talk Possible Jackson Walker Defenses in Bankruptcy Fee Litigation

Two law professors recently shared their thoughts in interviews with The Texas Lawbook on what defenses Jackson Walker is likely to raise in litigation where the U.S. Trustee is attempting to claw back millions in fees awarded to the firm in cases where David Jones served as a mediator or judge. Jones resigned his bench last year after a secret romantic relationship with a former Jackson Walker bankruptcy professor came to light.

Michelle Casady

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