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Energy
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August 09, 2024
Algonquin Power Selling Renewable Business For Up To $2.5B
Gibson Dunn-led Canadian utility Algonquin Power & Utilities Corp. has agreed to sell its renewable energy business to a wholly owned subsidiary of Milbank-advised LS Power for up to $2.5 billion, the companies said in statements Friday.
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August 08, 2024
Auto Paint Co. Faces Investor Suit Over Competition Woes
Vehicle paint protection company XPEL Technologies misled investors about the extent of competition it faced in the marketplace and how the changing demographics of electric vehicle buyers would affect the business, according to a proposed class action filed Thursday in Texas federal court.
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August 08, 2024
SPAC Investors Can't Sue Lucid Over Merger, 9th Circ. Says
The Ninth Circuit on Thursday refused to revive investors' proposed class action alleging that Lucid duped them into buying stock in a special purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, saying an acquiring company's investors can't sue the target company over its alleged misstatements before the merger.
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August 08, 2024
Feds Award $36M To Boost Wyo. Indigenous Ecotourism
The Biden-Harris administration has announced that it plans to award about $36 million to a tribal economic development fund to stimulate growth on or near the Wind River Indian Reservation in Wyoming.
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August 08, 2024
CenterPoint Accused Of Mishandling Worker Retirement Plan
A group of CenterPoint Energy employees hit the company with a proposed class action on Wednesday, alleging the entity mismanaged their employee retirement plan and cost participants millions of dollars.
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August 08, 2024
11th Circ. Affirms OK Of $188M Award Against Venezuelan Co.
The Eleventh Circuit on Thursday enforced a $188 million arbitral award issued to a British Virgin Islands commodities firm, ruling in a published opinion that a Venezuelan state-owned mining firm's corruption arguments wrongly took aim at an underlying contract, rather than the award itself.
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August 08, 2024
Nat'l Business Groups Sound Off Against Colo. Climate Case
The U.S. Chamber of Commerce and National Association of Manufacturers are urging the Colorado Supreme Court to block the county and city of Boulder from pursuing state law claims aiming to hold Exxon Mobil Corp. and Suncor subsidiaries liable for climate change harms.
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August 08, 2024
Texas LNG Investor's Estate Sues In Del. Over Stake Valuation
The estate of a deceased investor who had a minority stake in a long-delayed liquified natural gas export project in Texas has sued his investment company and co-investors in Delaware's Chancery Court, alleging they are attempting to short-change the estate by undervaluing his stake in the project.
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August 08, 2024
Drilling Permit Suit Must Be Revived, Enviro Orgs. Tell DC Circ.
Conservation groups are defending their standing to challenge federal approvals of thousands of drilling permits in New Mexico and Wyoming, telling the D.C. Circuit that they have pressed specific allegations showing that the drilling would harm the environment and their members.
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August 08, 2024
Ghana Must Pay $111M In Power Plant Fight, Court Rules
A D.C. federal judge has issued a default judgment against Ghana for more than $111 million left unpaid on an arbitral award issued by a London tribunal over the country's breach of a power plant operating deal with a subsidiary of commodities giant Trafigura.
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August 08, 2024
States, Industry Back High Court Review Of Calif. Waiver
The U.S. Chamber of Commerce, American Petroleum Institute and a group of states led by Iowa are urging the U.S. Supreme Court to reverse the federal government's decision to continue to allow California to set its own vehicle emissions programs.
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August 08, 2024
Dechert Says Merger Abandonments Are Way Up This Year
In what's shaping up to be a banner year for antitrust enforcers, U.S. merger abandonments hit historic levels in the first half of 2024, according to a new report from Dechert LLP.
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August 08, 2024
Deals Rumor Mill: Roche, Thoma Bravo, Klarna
Roche is considering divesting cancer data specialist Flatiron Health, Thoma Bravo is exploring a sale of compliance software maker Cority, and fintech startup Klarna is preparing a secondary-share sale ahead of a planned IPO. Here, Law360 breaks down these and other notable deal rumors from the past week.
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August 08, 2024
DOE To Back Integrated Georgia Solar Plant With $1.45B Loan
The U.S. Department of Energy's Loan Programs Office said Thursday it plans to move forward with a $1.45 billion loan to support Qcells' ongoing expansion of a new integrated solar supply chain manufacturing facility in Georgia.
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August 07, 2024
FTC, CFPB Turn Up Scrutiny On Solar Energy Sales Practices
The federal government on Wednesday stepped up efforts to police shady solar energy sales and financing practices, with the Federal Trade Commission, Consumer Financial Protection Bureau and other agencies releasing consumer advisories and announcing a new partnership to better monitor the industry.
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August 07, 2024
NC Court Tosses Resort's Appeal Over Tree-Cutting Loss
The North Carolina Court of Appeals threw out a resort owner's appeal arguing that Dominion Energy North Carolina cannot remove trees on its property, holding instead that the resort owner abandoned its arguments when it failed to analyze the trial court's final judgment on appeal.
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August 07, 2024
DOE Plans To Invest $30M In Tribal Energy, Colleges
The U.S. Department of Energy's Office of Indian Energy Policy and Programs plans to invest $30 million to support clean energy planning and transition Native American colleges and universities to carbon-free power sources.
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August 07, 2024
NC Biz Court Bulletin: The Battles Making Summer Sizzle
A 1983 championship basketball team's intellectual property rights and a public feud between Cadwalader Wickersham & Taft LLP and its insurer are among the legal battles that have kept North Carolina Business Court judges and Tar Heel state private practice attorneys busy this summer. In case you missed those and others, here are the highlights.
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August 07, 2024
DC Circ. Declines To Block EPA Mercury Air Toxics Rule
The D.C. Circuit on Tuesday refused to stay the U.S. Environmental Protection Agency's new rule tightening mercury and other toxic metal emission standards for some coal-fired power plants as a legal challenge filed by states and industry groups plays out.
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August 07, 2024
Blackstone Buys Majority Stake In Renewable-Focused Firm
Blackstone Inc.-backed private equity funds have agreed to acquire a majority stake in renewable-energy focused engineering firm Westwood Professional Services Inc., under guidance from Kirkland & Ellis LLP and Gibson Dunn & Crutcher LLP, marking Blackstone's latest bid to support energy transition, according to a Wednesday announcement.
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August 07, 2024
Green Groups Say Export-Import Bank Is Harming Climate
Environmental and animal rights groups on Wednesday asked the U.S. Department of State to order the Export-Import Bank to stop helping fund projects they said are contributing to climate change.
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August 07, 2024
M&A Rebounds, But Success Hinges On Broader Economy
There was a promising uptick in mergers and acquisitions activity in the second quarter, but the rising uncertainty about the broader economy that fueled Monday's stock market free fall could cause some hesitancy among dealmakers.
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August 07, 2024
Kirkland-Led SPAC Raises $350M To Pursue Energy Targets
Special purpose acquisition company EQV Ventures Acquisition Corp. began trading Wednesday after it priced a $350 million initial public offering, represented by Kirkland & Ellis LLP and underwriters' counsel Ellenoff Grossman & Schole LLP, in order to pursue an energy-related acquisition.
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August 07, 2024
Emerging Company Duo Join Pillsbury In Austin, Houston
Pillsbury Winthrop Shaw Pittman LLP announced that a pair of experienced Texas-based attorneys focused on working with emerging growth companies joined the firm's Austin and Houston offices.
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August 07, 2024
BP Malpractice Deal Needs Work, 5th Circ. Says
The Fifth Circuit scrapped a legal malpractice settlement in a consolidated lawsuit alleging attorneys were negligent in representing plaintiffs seeking compensation following the BP Deepwater Horizon oil spill, with a panel finding the terms were not mutually agreed upon.
Expert Analysis
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EPA Heavy-Duty Vehicle GHG Rules Face Bumpy Road Ahead
The U.S. Environmental Protection Agency's new standards to reduce greenhouse gas emissions for owners and operators of heavy-duty vehicles are facing opposition from both states and the transportation industry, and their arguments will mirror two pending cases challenging the EPA's authority, says Grant Laizer at Adams and Reese.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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A Look At M&A Conditions After FTC's Exxon-Pioneer Nod
The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.
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Opinion
US Solar Import Probe's Focus On China Is Misguided
The U.S. Department of Commerce's recent anti-dumping and countervailing duty investigation focuses on the apparent Chinese ownership of solar device importers in four Southeast Asian countries — a point that is irrelevant under the controlling statute, says John Anwesen at Lighthill.
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3 Recent Decisions To Note As Climate Litigation Heats Up
Three recent rulings on climate-related issues — from a New York federal court, a New York state court and an international tribunal, respectively — demonstrate both regulators' concern about climate change and the complexity of conflicting regulations in different jurisdictions, say J. Michael Showalter and Robert Middleton at ArentFox Schiff.
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Class Actions At The Circuit Courts: May Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from automobile insurance to securities — and provides key takeaways for counsel on issues including circuit-specific ascertainability requirements and how to conduct a Daubert analysis prior to class certification.
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New TSCA Risk Rule Gives EPA Broad Discretion On Science
The U.S. Environmental Protection Agency's recent final amendments to its framework for evaluating the risks of chemical substances under the Toxic Substances Control Act give it vast discretion over consideration of scientific information, without objective criteria to guide that discretion, say John McGahren and Debra Carfora at Morgan Lewis.
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Perspectives
Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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Key Insurance Considerations After $725M Benzene Verdict
The recent massive benzene verdict in Gill v. Exxon Mobil will certainly trigger insurance questions — and likely a new wave of benzene suits — so potential defendants should study Radiator Specialty v. Arrowood Indemnity, the only state high court decision regarding benzene claim coverage, says Jonathan Hardin at Perkins Coie.
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Series
Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.
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Contractors Must Prep For FAR Council GHG Emissions Rule
With the U.S. Federal Acquisition Regulatory Council expected to finalize its proposed rule on the disclosure of greenhouse gas emissions and climate-related financial risk this year, government contractors should take key steps now to get ready, say Thomas Daley at DLA Piper, Steven Rothstein at the Ceres Accelerator for Sustainable Capital Markets, and John Kostyack at Kostyack Strategies.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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Opinion
We Need A Legislative Path To Power Plant Emissions Cuts
With the U.S. Environmental Protection Agency's newest regulation targeting power plant carbon emissions likely to be overturned by courts or a future administration, it's time for bipartisan legislation to preserve affordable, reliable electricity while substantially decarbonizing the sector by midcentury, say Jeffrey Holmstead at Bracewell and Samuel Thernstrom at the Energy Innovation Reform Project.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors
Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.