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Energy
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September 24, 2024
Norfolk Southern Says Stock Drop Suit Based On 'Hindsight'
Norfolk Southern Corp. is urging a Georgia federal court to throw out a proposed class action alleging it duped stockholders by misleading them about the safety of its operations, leading to a stock drop after last year's derailment in East Palestine, Ohio, saying the claims are a bid to capitalize in hindsight on the crash.
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September 24, 2024
EPA Finalizes HFC Leak And Recycling Rule
The U.S. Environmental Protection Agency has issued a final rule aimed at reducing hydrofluorocarbon leaks from large refrigeration and air-conditioning equipment, while establishing a new program to better manage and recycle the potent greenhouse gasses.
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September 24, 2024
King & Spalding, Skadden Rep $1.7B DE Shaw-Macquarie Deal
Australian investment firm Macquarie Asset Management, advised by King & Spalding LLP, on Tuesday announced that it has agreed to take a "significant" minority stake in renewable energy company D.E. Shaw Renewables Investment Group, led by Skadden Arps Slate Meagher & Flom LLP, for up to $1.73 billion.
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September 24, 2024
Pillsbury Adds Locke Lord Energy Litigation Head In Houston
Pillsbury Winthrop Shaw Pittman LLP has expanded its construction and energy litigation capabilities in Texas with the addition of the former chair of Locke Lord LLP's energy litigation practice group.
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September 24, 2024
Exxon Claims It Beat Weak Defense In $1.8B Tax Trial
Exxon Mobil urged a Texas federal judge to find that it defeated what it called a scattered defense by the U.S. government during a five-day bench trial in April when the company argued for a $1.8 billion tax refund on its natural gas deal with Qatar, according to newly released filings.
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September 23, 2024
Chamber Says X Ruling Boosts Bid To Nix Calif. Climate Laws
The U.S. Chamber of Commerce and the state of California have filed competing briefs on how a recent Ninth Circuit decision blocking parts of a social media law applies to the state's corporate climate disclosure rules, with the Chamber arguing the ruling reinforces how the latter violate the First Amendment.
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September 23, 2024
High Court Enviro Shadow Docket Could Diminish DC Circ.
The U.S. Supreme Court's "shadow docket" is full of pleas from environmental rule opponents who want the justices to overturn D.C. Circuit rulings that allowed the regulations to go into effect, and recent history shows the challengers have some chance for success — but experts say the high court's willingness to step in at this stage risks diminishing lower courts' voices.
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September 23, 2024
Feds, SunZia Urge 9th Circ. To Toss Power Line Challenge
The federal government and SunZia Transmission LLC have asked the Ninth Circuit to uphold a lower court decision tossing a suit by a coalition of tribes and conservation groups challenging the government's decision to let the company route a 520-mile power line through cultural and historical sites.
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September 23, 2024
EPA Admits Mistakes In Approving New Chevron Chemicals
The U.S. Environmental Protection Agency on Friday told the D.C. Circuit that it overestimated the risk of allowing Chevron Corp. to create new fuel chemicals derived from plastic waste, asking the appeals court to remand the order authorizing the new substances back to federal regulators.
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September 23, 2024
Texas Fighting ESA Listing For Tiny Lizard In Permian Basin
Texas Attorney General Ken Paxton is asking a judge to overturn a U.S. Fish and Wildlife Service rule that listed the dunes sagebrush lizard as an endangered species, calling it a "backdoor attempt" to undermine energy development in the Permian Basin.
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September 23, 2024
Battery Exec Can't Avoid Depo In $2B Plant Fight
Battery manufacturer Gotion cannot block the deposition of its U.S. President Li Chen in a legal fight over the future of a proposed gigafactory in a Michigan town, a federal magistrate judge ruled Monday.
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September 23, 2024
Ex-Holtec CIO Says She's Owed More Than $500K Bonus
The former chief investment officer for Holtec International is alleging in New Jersey federal court that she was demoted then fired earlier this year after expressing her concern over the company's bonus structure and its failure to pay her bonuses on time in violation of the state's wage payment law.
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September 23, 2024
Calif. Sues Exxon For Plastic Pollution And Recycling Deception
California's attorney general and a coalition of conservation groups hit Exxon Mobil Corp. with a pair of lawsuits on Monday claiming the petrochemical giant has inundated the state with harmful plastic waste while misleading people about recycling's ability to ever make a dent in the problem.
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September 23, 2024
NY Extends Industrial Property Tax Break Application Deadline
New York state extended by four years to 2029 the deadline to apply for property tax abatements for eligible industrial and commercial buildings in New York City as part of a bill signed by Democratic Gov. Kathy Hochul.
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September 23, 2024
Natural Gas Co. Must Pay $6.8M To Ex-Trader In Bonus Fight
A Colorado state judge has entered a $6.8 million judgment against a natural gas marketing company for its failure to pay an ex-trading director a bonus on lucrative trades he made during a 2021 winter storm, a sum that includes more than $2.5 million in penalties for the company's intentional violation of a state wage law.
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September 23, 2024
La. Wants EPA Civil Rights Regs Vacated After Court Win
Louisiana is asking a federal judge to revisit an order and amend it to completely vacate U.S. Environmental Protection Agency civil rights regulations, after the judge granted the Pelican State's motion for a permanent injunction within its borders.
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September 23, 2024
Conn. Reaches $5M Deal To Resolve Vision Solar Case
Connecticut is asking a judge to sign off on a judgment that would impose a $5 million civil penalty against Vision Solar LLC to resolve the state's unfair trade practices complaint against the bankrupt company.
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September 20, 2024
EPA Defends Methane Rule At Supreme Court
The U.S. Environmental Protection Agency and green group allies on Friday asked the U.S. Supreme Court to reject states' and fossil fuel industry players' effort to block the implementation of a rule strengthening methane emissions control requirements for oil and gas infrastructure.
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September 20, 2024
EV Battery Co. Hit With $207M Default Loss For Lack Of Attys
Shareholders of electrical vehicle battery maker Romeo Power Inc. have secured a $206.8 million default win against the company after it failed to retain new counsel in a proposed class action alleging it concealed its acute shortage of high-quality battery cells before going public via a merger with a blank check company.
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September 20, 2024
Law Professors Say Boulder Climate Suit Clearly Preempted
Two law professors and a conservative legal nonprofit have urged Colorado justices to toss a city's climate tort lawsuit, arguing that the claims are clearly preempted by the Clean Air Act and that the city should not be allowed to make climate change policy decisions for the rest of the country.
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September 20, 2024
Utilities Group Wants In On 4th Circ. FERC Grid Policy Fight
A coalition of municipal utilities and electricity cooperatives that rely on transmission facilities they don't own to deliver power urged the Fourth Circuit to let it intervene in an appeal challenging the Federal Energy Regulatory Commission's recent overhaul of its regional transmission policy.
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September 20, 2024
NY Utilities Tell DC Circ. More Risk Should Equal More Return
A D.C. Circuit panel on Friday weighed the differences between risks and costs in a dispute between a group of New York utilities and the Federal Energy Regulatory Commission over rates the power companies can charge after making infrastructure upgrades.
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September 20, 2024
5th Circ. Says Tribunal Properly Slashed $10.6M Gas Award
A lower court improperly vacated an arbitral tribunal's decision slashing some $4 million from a $10.6 million award issued to a Colorado-based exploration company following a dispute over a Cameroonian natural gas project, the Fifth Circuit ruled Thursday in a published opinion.
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September 20, 2024
FERC Opens Enbridge Rate Probe Amid Overcharging Fears
The Federal Energy Regulatory Commission has opened a rate probe into a gas pipeline co-owned by Enbridge Inc. and DT Midstream, saying the pipeline may be overcharging its customers.
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September 20, 2024
IPO Trio Looks To Raise $536M Combined As Autumn Begins
Three companies spanning the energy, healthcare and life sciences industries are preparing initial public offerings that could raise $536 million combined in the coming week, guided by six law firms, signaling an upturn in IPOs as autumn begins.
Expert Analysis
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DOE Funding And Cargo Preference Compliance: Key Points
Under the Bipartisan Infrastructure Law, the U.S. Department of Energy will disburse more than $62 billion in financing for innovative energy projects — and recipients must understand their legal obligations related to cargo preference, so they can develop compliance strategies as close to project inception as possible, say attorneys at White & Case.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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Tips For Balanced Board Oversight After A Cyberincident
The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.
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Cos. Must Prepare For Calif. Legislation That Would Ban PFAS
Pending California legislation that would ban the sale or distribution of new products containing intentionally added per- and polyfluoroalkyl substances could affect thousands of businesses — and given the bill's expected passage, and its draconian enforcement regime, companies must act now to prepare for it, say attorneys at Alston & Bird.
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Ensuring Nonpublic Info Stays Private Amid SEC Crackdown
Companies and individuals must take steps to ensure material nonpublic information remains confidential while working outside the office, as the U.S. Securities and Exchange Commission continues to take enforcement actions against those who trade on MNPI and don't comply with new off-channel communications rules in the remote work era, say attorneys at BakerHostetler.
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What FERC's Disclosure Demands Mean For Cos., Investors
Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.
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Macquarie Ruling Raises The Bar For Securities Fraud Claims
The U.S. Supreme Court's decision last week in Macquarie Infrastructure v. Moab Partners — holding that a U.S. Securities and Exchange Commission rule does not forbid omissions in company disclosures unless they render other statements false — is a major setback for plaintiffs pursuing securities fraud claims against corporations, say attorneys at Skadden.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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GSA's Carbon-Free Power Plan: Tips For Electricity Suppliers
The U.S. General Services Administration's recent request for information concerning its intent to acquire a large amount of carbon pollution-free electricity over the next decade in the PJM Interconnection region offers key insights for companies interested in becoming electric power suppliers to federal government agencies, say Shaunna Bailey and Nicholas Dugdale at Sheppard Mullin.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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Energy Community Tax Credit Boost Will Benefit Wind Sector
Recent Internal Revenue Service guidance broadening tax credit eligibility to more parts of offshore wind facilities in so-called energy communities is a win for the industry, which stands to see more projects qualify for a particularly valuable bonus in the investment tax credit context due to the capital-intensive nature of offshore wind projects, say attorneys at Troutman Pepper.
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Traversing The Web Of Nonjudicial Grievance Mechanisms
Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.
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An Energy Industry Case Study In Expropriation Risk
Andrés Chambouleyron at Berkeley Research breaks down how expropriation risk and damage mitigation calculations vary considerably by different energy sources, and uses Argentina as a case study for how energy investors might protect their interests.
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Exploring Patent Trends In Aerospace Electrification
As blue-chip companies lead the charge to power large-scale commercial airplanes with electricity, and startups advance the trend on a regional scale, patent applications directed at improving energy storage and electric motor efficiency are on the rise, say attorneys at Finnegan.
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Opinion
Federal MDL Rule Benefits From Public Comments
The new Federal Rule of Civil Procedure concerning multidistrict litigation that was approved this week by the Advisory Committee on Civil Rules incorporates ideas from public comments that will aid both plaintiffs and defense attorneys — and if ultimately adopted, the rule should promote efficient, merits-driven MDL case management, say Robert Johnston and Gary Feldon at Hollingsworth.