As the work of reforming the federal tax code took a temporary timeout for Thanksgiving, opponents of legislation that would fully or partly eliminate deductions for state and local taxes didn’t let up in their fight, despite increasingly long odds they would succeed in changing lawmakers' minds when they return from their break.
Argentine energy giant YPF SA had an almost $10 million award against oil and gas exploration and production company Apache Corp. confirmed earlier this week, with a Texas federal court finding that the award was properly decided by KPMG LLP partners per an agreement between the companies.
A Texas federal jury on Tuesday awarded $10.25 million in lost profits to a toy company over two patents for a relatively new water balloon-filling device, copycats of which were allegedly sold by Telebrands Corp. at Bed Bath & Beyond Inc. and other retailers — just weeks before the Patent Trial and Appeal Board is set to hold its own trial over the two patents.
Hunton & Williams LLP asked a Texas federal judge Tuesday to reject the objections that have been raised to its $34 million deal to settle allegations that it aided Robert Allen Stanford’s $7 billion Ponzi scheme, saying the settlement is fair and won’t impact the rights of other parties embroiled in litigation over the scheme.
A Texas federal judge has granted a request to pause litigation brought by two Texas companies and their Chinese owner against a Michigan furniture seller that tried to haul them into arbitration over a contract, after the parties told the court they had agreed to settle and thought a complete resolution was imminent.
A Texas appeals court recently affirmed a lower court's order that a doctor under investigation by the Texas Medical Board for his and his staff's treatment of patients must comply with a subpoena request from the agency for medical and billing records for three patients.
In past years, many BigLaw firms have played follow-the-leader in matching associate bonuses to those set by the most profitable firms, but as law firm profit gaps grow, experts say it's likely that bonuses at less profitable firms will remain on trend with past years even as their counterparts up the ante for a select few associates.
A Texas federal judge on Tuesday ordered a Dallas businessman to forfeit about $3.79 million together with two co-conspirators in a diamond investment fraud scheme, also sentencing him to nearly four years in prison and two years of supervised release.
The U.S. Department of Justice upended conventional wisdom with its lawsuit Monday claiming that the vertical integration of AT&T Inc.'s DirecTV distribution network with Time Warner Inc.'s must-have content would lead to hundreds of millions of dollars worth of price increases and squelch innovative competition in digital video distribution.
Brazilian oil giant Petrobras on Monday told the Fifth Circuit it doesn’t have to arbitrate a $400 million claim against Spanish manufacturer Vicinay Cadenas SA over an allegedly defective component used in an offshore oil and gas rig.
As the government tries to block AT&T from buying Time Warner in what could be the first merger trial under the new administration, the telecom giant has put its hopes for a digital content future in the hands of a firm that's been no stranger to courtroom faceoffs in the last decade. Here, Law360 looks at the biggest challenges O'Melveny & Myers LLP has defended in recent years.
A Delaware bankruptcy judge declined Tuesday to postpone a Dec. 11 sale hearing for M&G USA Corp.’s $1.7 billion Chapter 11, but delayed for 10 days a final hearing on the global plastic resin supplier’s $100 million debtor-in-possession loan.
A minority shareholder in Texas utility Oncor Electric Delivery Co. LLC told the Delaware Chancery Court on Monday that NextEra Energy owes it $72 million as a breakup fee for a merger shot down by state regulators.
The U.S. Department of Justice’s challenge of AT&T’s planned Time Warner purchase was assigned to Senior Judge Richard J. Leon on Tuesday, a D.C. district judge with extensive antitrust experience who required extra conditions before greenlighting the government’s settlement with Comcast for its NBC Universal deal.
A federal judge in a flurry of orders Monday appointed four groups of lead counsel to steer claims brought by the thousands of homeowners alleging the government is responsible for flooding in the wake of Hurricane Harvey, also spelling out a framework for the litigation going forward.
An American International Group Inc. unit doesn't have to cover Cooper Industries Ltd.'s $17 million loss to a Ponzi scheme, the Fifth Circuit affirmed on Monday, agreeing with a lower court that the electrical products manufacturer didn't own the money for coverage purposes because it invested in the scheme via loans.
The Federal Aviation Administration and the U.S. Department of Transportation on Monday argued they should be freed from a Texas federal court fight between Southwest Airlines Co. and Delta Air Lines Inc. and the city of Dallas over gate access at a local airport.
Talos Energy LLC and Stone Energy Corp., which emerged from bankruptcy earlier this year, on Tuesday said they will merge in an all-stock deal that will create an offshore drilling company with an enterprise value of $2.5 billion and an initial market capitalization of $1.9 billion.
A Texas federal judge on Monday said the criminal restitution ordered for a former hedge fund manager who copped to ripping off investors in his Lobo Volatility Fund LLC doesn't preclude him from having to pay the disgorgement he previously agreed to in settling the U.S. Securities and Exchange Commission's related civil case.
Kirkland & Ellis LLP has bolstered its capital markets practice and hired away a former partner at Vinson & Elkins LLP to join its Houston office, the firm announced Monday.
While there will likely be insurance disputes as to whether claimed damage from Hurricane Harvey is excluded by an insurance policy’s water exclusion, “flood water” and “surface water” have established definitions in Texas courts and the anti-current causation clause has clear precedent to help decide whether these exclusions apply, say Michael Upshaw and Shannon O'Malley of Zelle LLP.
Albert Einstein famously said, “The definition of insanity is doing the same thing over and over again, but expecting different results.” That maxim applies to large companies that seek more value and diversity from their outside counsel by expecting big firms to change. There’s a simple solution to this problem, according to attorneys Margaret Cassidy, Sara Kropf and Ellen D. Marcus.
While many businesses understandably focus on their traditional coverages, first-party property insurance policies sold to commercial policyholders often contain common extensions that may provide additional paths to recovery for storm losses from Harvey and Irma, say Rukesh Korde and Teresa Lewi of Covington & Burling LLP.
There will be plenty of similarities between Katrina insurance claims and those arising from Harvey and Irma. This time around, however, expect to see arguments made that the Insurance Services Office’s 2011 amendments to the flood exclusion, contained in the organization’s homeowner’s policies, affect certain claims, says Randy Maniloff of White and Williams LLP.
When venue is challenged, who bears the burden of proof in patent cases? It turns out the courts are sharply divided on this important issue, say attorneys with Mayer Brown LLP.
The Fifth Circuit's recent approval of the U.S. Department of Labor’s request to dismiss its appeal regarding the Obama administration’s revised overtime regulations likely indicates the end of the proposed amended rule. However, it appears probable that in due course the Trump DOL will issue new regulations that similarly expand those same Fair Labor Standards Act protections, say Dale Hudson and Jeffrey League of Nixon Peabody LLP.
What if, after a storm like Hurricane Harvey or Irma, a small business finds itself liable for hundreds of thousands (or even millions) of dollars of environmental contamination that spilled out during the storm? This is a very real concern for businesses that store and use chemicals, but there are ways to establish protections, says Kevin Daehnke of Daehnke Cruz Law Group LLC.
Business interruption claims are frequently the most difficult and hotly contested of insurance claims, and this is even more so in the aftermath of large-scale natural disasters like Hurricanes Harvey and Irma. One common dispute is whether the measurement of business interruption should take into account the post-loss area-wide economic conditions, say attorneys with Pillsbury Winthrop Shaw Pittman LLP.
Payment collection delays have caused law firms to seek new options, one of which is litigation finance. In this context, litigation finance can offer alternative avenues to firms as they approach the end of a fiscal year or partnership distribution dates, says Travis Lenkner of Burford Capital LLC.
Despite the unique and critical need for collaboration among competitors following Hurricanes Harvey and Irma and other natural disasters, these events are not an invitation for businesses to ignore antitrust laws, say Meytal McCoy and Jessica Michaels of Mayer Brown LLP.