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Energy
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June 28, 2024
Maxeon Was Overreliant On SunPower Sales, Investor Says
Maxeon Solar Technologies was hit with a proposed shareholder class action alleging that the company concealed that a significant portion of its business depended on exclusive sales of certain products to its former parent company, SunPower Corp., and that a terminated contract between the two would lead to a 41% revenue drop for Maxeon.
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June 28, 2024
As Election Looms, M&A Attys Advise To 'Stay The Course'
The contentious presidential election is bound to rattle mergers and acquisitions activity in the short term, and the eventual winner will create unique sets of winners and losers in the market, but attorneys have a simple message to clients: "Stay the course."
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June 28, 2024
Shearman Veteran To Step Down After 47 Years
Allen Overy Shearman Sterling of counsel Henry Weisburg, an international arbitration specialist and veteran of Shearman & Sterling LLP for nearly five decades, will be stepping back from the firm on Monday in a move that he says will enable him to accept appointments as an arbitrator with fewer conflicts.
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June 28, 2024
EPA Coal Ash Rules Are Nothing New, DC Circ. Rules
The U.S. Environmental Protection Agency was enforcing existing rules rather than illegally issuing new ones when it rejected requests by power companies to extend a deadline to comply with regulations governing the cleanup of coal-ash waste facilities, a D.C. Circuit panel ruled Friday.
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June 28, 2024
Buchanan Ingersoll Can't Dump Harrisburg Incinerator Row
A Pennsylvania appellate court won't let Buchanan Ingersoll & Rooney PC exit long-running litigation over a trash incinerator project that sent the state's capital city into financial distress, ruling Friday that there was still ambiguity about whether the law firm's advice had been correct.
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June 28, 2024
NY Law Firm Botched Gas Co. Sale, Ex-Client Says
Albany, New York-based Whiteman Osterman & Hanna LLP is facing a lawsuit in New York federal court alleging it failed to properly structure the sale of a gas company and caused its owner to incur an avoidable tax liability.
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June 28, 2024
Taxation With Representation: Kirkland, Vinson, Skadden
In this week's Taxation with Representation, Aareal Bank AG and Advent International sell a property management and maintenance software company, Webtoon Entertainment Inc. and Tamboran Resources Corp. price initial public offerings, SM Energy Company acquires oil and gas assets, and Nokia sells Alcatel Submarine Networks to the French state.
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June 28, 2024
Litigation Pro Joins Bradley Arant From Houston Boutique
Bradley Arant Boult Cummings LLP has strengthened its litigation practice in Texas with a partner who came aboard from Houston corporate law firm BoyarMiller.
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June 28, 2024
High Court Enters July With 3 Rulings To Go
In a rare move, the U.S. Supreme Court will issue opinions into the beginning of July as the court tries to clear its merits docket of three remaining cases dealing with presidential immunity, whether governments can control social media platforms' content moderation policies and the appropriate deadline to challenge agency action.
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June 28, 2024
Supreme Court Strikes Down Chevron Deference
The U.S. Supreme Court on Friday overturned a decades-old precedent that instructed judges about when they could defer to federal agencies' interpretations of law in rulemaking, depriving courts of a commonly used analytic tool and leaving lots of questions about what comes next.
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June 27, 2024
4 Firms Guide Pair Of IPOs Totaling $457M
Venture-backed drug developer Alumis Inc. and oil-land acquirer LandBridge LLC on Thursday priced initial public offerings, raising a combined $456.5 million, under the guidance of four law firms.
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June 27, 2024
High Court Liberals Warn Jarkesy's Reach Will Be Widespread
The U.S. Supreme Court's decision to limit the U.S. Securities and Exchange Commission's use of its in-house courts will have "momentous consequences" for dozens of agencies tasked with overseeing the electric grid, environmental regulations and consumer protection laws, the court's liberal wing has warned.
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June 27, 2024
B. Riley-Linked SPAC To Settle Del. Class Action For $8.5M
The co-chairman of B. Riley Financial Inc. and others have agreed to pay $8.5 million to settle a class action in Delaware's Court of Chancery accusing them of making misleading and inadequate disclosures leading up to a $320 million special-purpose acquisition company deal for battery storage venture Eos Energy Storage LLC.
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June 27, 2024
EPA's State Smog Pollution Plan Down, Not Out Yet
The U.S. Supreme Court flexed its muscles menacingly at the U.S. Environmental Protection Agency on Thursday and blocked it from implementing an important air pollution control plan for several states, but experts say it's too early to completely write off the rule in question.
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June 27, 2024
Ch. 7 Can't Free PE Firm From Suit, Diamond Polisher Says
A Canadian diamond polisher urged a Michigan federal judge to keep alive its suit alleging that a lab-grown diamond company's private equity owner knew it couldn't make good on its promise to fund new facilities to process the gemstones, saying the fact that the company is going through bankruptcy can't shield the PE firm from liability for using its alter ego to make fraudulent statements.
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June 27, 2024
Split FERC Approves La. LNG Export Terminal
A divided Federal Energy Regulatory Commission gave the green light to a massive liquified natural gas export terminal in Louisiana during its monthly meeting Thursday, with departing Democratic Commissioner Allison Clements criticizing the agency for not adequately addressing the project's impacts.
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June 27, 2024
Chancery Orders Hearing On Musk's Texas Pay Ratification
Delaware's Chancellor on Thursday ordered arguments on the effect of Tesla Inc.'s latest ratification of a multibillion-dollar stock-based compensation award for CEO Elon Musk but separated the session from a July 8 hearing on fees for class attorneys who won an order voiding Musk's earlier pay award.
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June 27, 2024
IRS To Offer Combined Filing For Energy Investment Credits
The Internal Revenue Service will let clean energy project owners that are claiming investment tax credits for more than 200 facilities file the claims with a single form, an agency official said Thursday.
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June 27, 2024
Solar Co. Says Duty Expansion Ignores Production Process
A solar company has pressed the trade court to unwind a U.S. Department of Commerce ruling exposing Vietnamese solar products to tariffs on Chinese solar cells, saying that the cells are primarily made in Vietnam and are therefore of Vietnamese origin.
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June 27, 2024
Commerce Defends Argentine Oil Pipe Levies On Remand
The U.S. Department of Commerce did not double count companies backing the petition that prompted its dumping probe into oil and gas pipes from Argentina, the agency held in its response to a trade court remand order.
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June 27, 2024
Madigan Judge Doesn't Want Trial To Slip After Justices Rule
The Illinois federal judge overseeing the Racketeer Influenced and Corrupt Organizations Act case against former Illinois House Speaker Michael Madigan said Thursday he was hesitant to delay an October trial after the U.S. Supreme Court removed prosecutors' ability to go after state officials for accepting gratuities.
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June 27, 2024
Sichenzia Ross Guiding Fuel Cell Co. On $130M SPAC Merger
Sichenzia Ross Ference Carmel LLP is advising Infintium Fuel Cell Systems Inc. on a newly inked blank-check company consolidation deal that values the hydrogen fuel cell technology provider at $130 million.
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June 27, 2024
Feds Back Debevoise Bid To Avoid Cognizant Trial Testimony
The U.S. Department of Justice would like a New Jersey federal court to throw out a subpoena compelling trial testimony from a Debevoise & Plimpton LLP partner regarding an investigation into an alleged bribe the government believes two former Cognizant Technology Solutions executives supplied to an Indian company.
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June 27, 2024
Susan Sarandon Can Get Home Contractor's Bank Records
A Massachusetts credit union must give Hollywood star Susan Sarandon some of the personal financial records of a contractor who she says failed to properly oversee construction of her $2 million sustainable home in Vermont, a federal magistrate judge ruled Wednesday.
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June 27, 2024
Kirkland, V&E Build $2.55B Sale Of Uinta Basin Assets
SM Energy Company, advised by Kirkland & Ellis LLP, on Thursday unveiled plans to acquire the Uinta Basin oil and gas assets from private equity-backed XCL Resources LLC, led by Vinson & Elkins LLP, for an unadjusted purchase price of $2.55 billion, then sell an undivided 20% of those assets to Kirkland-led Northern Oil and Gas for $510 million.
Expert Analysis
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How 3 Unfolding Cases Could Affect The Energy Industry
Three judicial decisions now in the pipeline — Texas' challenge to the U.S. Environmental Protection Agency's methane regulations, Delaware's climate suit against big energy companies, and a case before the Supreme Court of Texas on royalty lease interpretation — could have important implications for the energy industry, say Michelle Scheffler and Rachael Cox at Skadden.
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How IRA Unlocks Green Energy Investments For Tribes
An Inflation Reduction Act provision going into effect May 10 represents a critical juncture for Native American tribes, offering promising economic opportunity in green energy investment, but requiring a proactive and informed approach when taking advantage of newly available tax incentives, say attorneys at Lewis Brisbois.
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Tipsters May Be Key To Financial Regulators' ESG Efforts
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are looking to whistleblowers to assist their climate and ESG task forces, suggesting insider information could be central to the agencies' enforcement efforts against corporate greenwashing, false investment claims and climate disclosure violations, says John Crutchlow at Youman & Caputo.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Fears About The End Of Chevron Deference Are Overblown
While some are concerned about repercussions if the U.S. Supreme Court brings an end to Chevron deference in the Loper and Relentless cases this term, agencies and attorneys would survive just fine under the doctrines that have already begun to replace it, say Daniel Wolff and Henry Leung at Crowell & Moring.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Ruling In La. May Undercut EPA Enviro Justice Efforts
A Louisiana federal court's recent decision in Louisiana v. U.S. Environmental Protection Agency will likely serve as a template for other states to oppose the EPA's use of disparate impact analyses in Title VI civil rights cases aimed at advancing environmental justice policies and investigations, say Jonathan Brightbill and Joshua Brown at Winston & Strawn.
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8 Tips As GCs Prep For New SEC Climate Disclosure Rules
The U.S. Securities and Exchange Commission's recently adopted rules governing climate-related disclosures represent a major change to the existing public company disclosure regime, so in-house counsel should begin to evaluate existing systems and resources related to emissions data, and identify the changes that will need to be made, say attorneys at Bracewell.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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How Fieldwood Ch. 11 Ruling Bolsters Section 363 Confidence
The Fifth Circuit’s recent ruling in Fieldwood Energy’s Chapter 11 cases, which clarified that challenges to integral aspects of a bankruptcy sale are statutorily moot under Section 363(m) of the U.S. Bankruptcy Code, should bolster the confidence of prospective purchasers in these sales, say attorneys at V&E.
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New Russia Sanctions Reveal Int'l Enforcement Capabilities
Significant new U.K., U.S. and EU sanctions imposed on Russia notably target Europe-based individuals and entities accused of sanctions evasion, and with an apparent political will to enhance capabilities, the rhetoric is translating into international enforcement activity, say lawyers at Cadwalader.
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Opinion
Proposed MDL Management Rule Needs Refining
Proponents of the recently proposed Federal Rule of Civil Procedure 16.1 believe it may enhance efficiency in multidistrict litigation proceedings if adopted, but there are serious concerns that it could actually hinder plaintiffs' access to justice through the courts — and there are fundamental flaws that deserve our attention, says Ashleigh Raso at Nigh Goldenberg.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.