Casino games maker Multimedia Games Holding Co. Inc. was hit with a second shareholder class action in Texas federal court Thursday alleging its proposed $1.2 billion buyout by Las Vegas-based Global Cash Access Holdings Inc. cheats shareholders, casting another cloud over the deal.
A Texas federal judge has granted the U.S. Commodity Futures Trading Commission a $3.3 million judgment against Financial Robotics Inc. for fraudulent sales of forex products to an attorney who was convicted of a $40 million Ponzi scheme, the regulator said on Friday.
An oil field services company on Tuesday blasted American Home Assurance Co.’s argument that its $2 million indemnification claim stemming from faulty repairs on a Chevron USA Inc. oil rig wouldn’t be covered under its general liability policy, telling the Fifth Circuit that the insurer is rehashing old arguments.
Tesoro Logistics LP priced its previously announced debt offering Wednesday saying it would issue two sets of senior notes to raise a total of $1.3 billion in order to help pay for its recent acquisition of a midstream natural gas and crude oil business from a QEP Resources Inc. subsidiary.
Thursday's win for Johnson & Johnson’s DePuy Orthopedics Inc. unit at the first bellwether trial over its Pinnacle line of metal-on-metal hip implants dealt a surprising early blow to plaintiffs' attorneys that lawyers say will have Johnson & Johnson digging in its heels in upcoming trials.
The Texas Securities Board on Wednesday gave the green light to new equity crowdfunding rules in the Lone Star state, releasing Texas startup companies seeking funding from the red tape associated with registering their securities with the Securities and Exchange Commission.
The widow of Charles Wyly Jr. filed for bankruptcy protection Thursday, in the wake of a judgment worth hundreds of millions of dollars against the estate of the late Texas tycoon and his brother, Sam Wyly, for allegedly using secretive offshore trusts to trade stocks while evading taxes.
The U.S. Securities and Exchange Commission on Thursday secured a freeze on Texas tycoon Sam Wyly’s assets a day after he filed for bankruptcy in Texas in the face of a looming offshore-trading penalty the SEC has pegged at $198 million.
A Texas federal jury on Thursday unanimously cleared Johnson & Johnson's DePuy Orthopedics Inc. unit of accusations it manufactured a dangerous and defective metal-on-metal hip implant, in a bellwether trial in multidistrict litigation over the company's Pinnacle device.
The Fifth Circuit can’t overturn the dismissal of a suit brought by a group of oil and gas development companies alleging a Texas investor and her lawyer improperly tried to seize the businesses to satisfy a $31 million arbitration award, because the federal court cannot review a final state court decision, the investor said Tuesday.
Private-equity backed Aqua Terra Water Management LP said Thursday that it will acquire two saltwater disposal facilities in Texas and a permit for a third in a deal advised on by Dechert LLP.
Houston-based Phillips 66 Co. is selling two newly constructed crude oil rail terminals and portions of a refined products pipeline to the master limited partnership it controls for $340 million, the MLP said Wednesday.
ExxonMobil Pipeline Co. on Wednesday asked a Texas appellate court to throw out a fired employee’s defamation suit under a state free speech law, arguing that an internal conversation between the man’s supervisors was protected speech.
Disgraced Texas tycoon Robert Allen Stanford on Tuesday urged the Fifth Circuit to overturn his 110-year prison sentence for a $7 billion Ponzi scheme, arguing in an appeal in which he is representing himself that federal authorities didn't have jurisdiction over his bank.
Prophet Equity LP filed a $15 million suit against Twin City Fire Insurance Co. in Texas court Tuesday, for allegedly breaching a policy by refusing to pay the private equity fund after it was sued by a former employee.
Private equity-backed chicken wing chain Wingstop is cooking up a potentially $100 million initial public offering, while marketing software maker Yodle is reconsidering its plans for a public debut.
Google Inc., Apple Inc., and Amazon.com Inc. were among several tech businesses sued on Tuesday in Texas federal court by Vantage Point Technology Inc., which claims services such as Google Drive and iCloud violate a patent covering a method for transferring documents over the Internet.
A Texas federal judge on Tuesday trimmed away one of Omnicare Inc.’s defenses in a long-running False Claims Act suit, finding that the nursing home pharmacy can’t dodge kickback allegations just because a whistleblower may have also been involved in misconduct.
Lawyers for billionaire investor Sam Wyly on Wednesday told a Texas bankruptcy judge his voluntary Chapter 11 petition protects his estate from the U.S. Securities and Exchange Commission’s attempt to secure an asset freeze in New York federal court.
BP PLC asked the Fifth Circuit on Monday to expedite its bid to claw back payouts it made under a since-overturned claims calculation in its $9.2 billion settlement in the Deepwater Horizon multidistrict litigation, saying that there won’t be any money left to recover if the appeal goes too long.
Notwithstanding its arguably questionable precedential support, the Third Circuit’s decision in Opalinski v. Robert Half Inc. is not surprising. It continues arbitration law’s march toward a likely end, by any path, for class action liability for companies and other business entities, say Brian Berkley and Matthew Adler of Pepper Hamilton LLP.
In U.S. Metals Incorporated v. Liberty Mutual Group Inc., perhaps the most significant issue to be decided by the Texas Supreme Court is whether the incorporation of a defective product into other property constitutes “physical injury” to other component parts of the property, says Kristin Cummings of Zelle Hofmann Voelbel & Mason LLP.
The Nevada federal court's recent ruling in Agincourt Gaming LLC v. Zynga Inc. is an important reminder that a nonparty wanting to challenge a civil subpoena should consider carefully the appropriate jurisdiction in which to file a motion to quash under recently enacted Rule 45, say Steven Luxton and Brad Nes of Morgan Lewis & Bockius LLP.
In Wheeler v. Enbridge Pipelines, the Texas Supreme Court provided guidance to midstream companies on the proper calculation of damages to real property stemming from the breach of a pipeline right-of-way agreement — a decision that has implications well beyond the oil and gas industry, say attorneys with K&L Gates LLP.
The U.S. is the only country in the world where standard juries are used in patent cases. With patent trolls imposing huge costs on the economy and crippling our power to innovate, Americans should be willing to consider major changes in how we decide patent cases, says William Watkins, a research fellow at The Independent Institute.
Although many may associate patent litigation with a proliferation of stratospheric jury verdicts, these preconceptions are most often wrong. Few patent cases go to trial, and fewer result in any damages, let alone the kind that make headlines. Let's look at the numbers, says Brian Howard, co-author of the Lex Machina Patent Litigation Damages Report.
Fifty years ago, Justice Felix Frankfurter cautioned courts about getting mired in the “political thicket” of redistricting. In agreeing to hear Arizona State Legislature v. Arizona Independent Redistricting Commission, the U.S. Supreme Court could be about to take a big step further into that thicket, says Michael Li, counsel at the Brennan Center for Justice, NYU School of Law.
There is an inherent tension between the process of preparing a corporate representative to testify and the protections usually afforded by attorney-client privilege. Judicial decisions addressing these tensions are limited and, as of yet, the Federal Circuit Courts of Appeals do not appear to have weighed in on these issues in any meaningful way, say Vanessa Miller and Nicholas Ellis of Foley & Lardner LLP.
Given the steady increase in retaliation claims filed with the U.S. Equal Employment Opportunity Commission, employers need to train managers before taking adverse employment actions — especially when they involve employees that may have engaged in protected activity, says Mauro Ramirez of Fisher & Phillips LLP.
If the U.S. Supreme Court applies strict scrutiny in Williams-Yulee v. Florida Bar to strike down reasonable restrictions on judicial campaign activity, the increasing flood of judicial campaign spending may further damage the public’s eroding confidence in the judiciary, says Matthew Menendez, counsel in the Democracy Program at the Brennan Center for Justice, NYU School of Law.