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Energy
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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.
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August 07, 2024
FERC Defends Rejection Of Grid Operator's Project Cost Plan
The Federal Energy Regulatory Commission is asking the D.C. Circuit to deny two electricity cooperatives' petitions challenging its decision to reject a Southwest Power Pool plan to regionally allocate the costs of some transmission projects within the grid operator's 14-state footprint.
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August 07, 2024
Pa. Resident Proposes Nuisance Action Over Shell Facility
A Beaver County, Pennsylvania, resident has filed an amended class action complaint claiming Shell Chemical Appalachia's operation of a petrochemical plant led to the release of noxious substances and other nuisances preventing people in the region from enjoying their properties.
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August 06, 2024
From Vets To Labor: The Policies VP Pick Walz Has Backed
Democratic U.S. presidential nominee Kamala Harris' pick of Minnesota Gov. Tim Walz to be her running mate pairs her with a state leader and former lawmaker who has advocated for veterans' rights and public education while also championing a more progressive agenda, from cannabis legalization to abortion care access to stronger union rights.
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August 06, 2024
3 Firms Guide AI-Focused Semiconductor Maker's SPAC Deal
Special-purpose acquisition company byNordic Acquisition Corp. said Tuesday it plans to acquire and take public an artificial intelligence-focused subsidiary of Sivers Semiconductors AB through a deal advised by three law firms.
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August 06, 2024
Enviro Groups Seek Penalties For Suncor Refinery Pollution
Environmental justice groups sued Suncor Energy USA Inc. on Tuesday seeking civil penalties on behalf of people exposed to air pollution near an oil refinery, contending that federal and state regulators have failed to stop the company's ongoing Clean Air Act violations.
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August 06, 2024
EPA Seeks DC Circ. Remand Of Good Neighbor Plan
The U.S. Environmental Protection Agency asked the D.C. Circuit to let it take a second look at its plan to reduce smog-forming emissions across several states, arguing a remand is necessary to solve issues recently identified by the U.S. Supreme Court.
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August 06, 2024
Fifth Third Bank Faces MDL Bid Over Allegedly Hidden Costs
A group of consumers is urging the Judicial Panel on Multidistrict Litigation to centralize in New Jersey five proposed class actions alleging Fifth Third Bank NA's solar panel financing business hid loan costs from consumers.
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August 06, 2024
Conn. AG Says Utility Misconstrued Power Plant Cleanup Deal
The Connecticut Attorney General's Office has told a state court that The United Illuminating Co., now part of Avangrid Inc., raised inapplicable defenses to an environmental cleanup lawsuit by misconstruing an earlier consent decree as a "contract" the government could breach as the utility remediated an abandoned New Haven power plant.
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August 06, 2024
Wind Tower Co. Asks Full Fed. Circ. To Revisit Subsidy Duties
A Federal Circuit panel wrongly concluded that a 10% depreciation rate for deducting costs related to manufacturing facilities set by Canadian law was an unfair trade subsidy that justified countervailing trade duties, a wind tower manufacturer told the court in seeking a rehearing.
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August 06, 2024
NJ Justices Remove 'Routine' Barrier To Compressor Hub
The New Jersey state appeals court misinterpreted the word "routine" in a decision that paused a plan for a natural gas compressor station in the Highlands Preservation Area, the state Supreme Court ruled Tuesday.
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August 06, 2024
10th Circ. Says Union Contract Legally Imposed On Okla. Co.
An Oklahoma electric company must accept the successor contract imposed on it by an arbitration board, the Tenth Circuit said Tuesday, upholding an Oklahoma federal court's decision that the pact between Brent Electric Co. and an International Brotherhood of Electrical Workers local was imposed lawfully.
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August 06, 2024
SEC Defends Climate Disclosure Rules At 8th Circ.
The U.S. Securities and Exchange Commission on Tuesday cited the U.S. Supreme Court's decision axing Chevron deference and the agency's 50-plus year history of considering additional environmental-related disclosures in an effort to defend its recently adopted climate disclosure rules.
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August 06, 2024
Wash. Appeals Court Reverses On Gas Chain Owing State Tax
A Pacific Northwest gas station chain that issued fuel cards to customers must pay the Washington state business tax when cardholders purchase gas from other participating gas station chains as well as from nonparticipating chains, a state appeals court panel said Tuesday, reversing an earlier opinion.
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August 06, 2024
Ariz. Tribe Seeks To Block Lithium Exploration Project
An Arizona tribe is asking a federal district court to block the approval of a lithium exploration project that it says threatens the life of a sacred medical spring used for cultural and religious purposes, arguing the Bureau of Land Management failed to consider its actions on the historic property.
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August 06, 2024
DC Circ. Axes FERC Reauthorizations For Texas LNG Projects
The D.C. Circuit on Tuesday vacated reauthorization orders that the Federal Energy Regulatory Commission issued for liquefied natural gas projects on the Texas Gulf Coast over environmental analysis deficiencies.
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August 06, 2024
39 Law Firms Call On 6th Circ. To Reverse FirstEnergy Ruling
Dozens of law firms have signed on to an amicus curiae brief urging the Sixth Circuit to reverse a decision in a FirstEnergy shareholder litigation, the latest voices in the legal, insurance and business communities to call on the appellate court to reverse an Ohio federal judge's ruling they warn will threaten attorney-client privilege.
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August 06, 2024
Exxon Assistant GC Jumps To Duane Morris As Trial Partner
A longtime attorney at Exxon Mobil Corp. has made the move from in-house to private practice at Duane Morris LLP to begin the next chapter of his career.
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August 07, 2024
Simpson Thacher Pilots Stonepeak's $3B Opportunities Fund
Private equity firm Stonepeak, advised by Simpson Thacher & Bartlett LLP, raised $3.15 billion for a fund dedicated to opportunistic investing in the infrastructure sector, beating the fund's target by over $600 million, according to an Aug. 6 announcement.
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August 06, 2024
Solar Tech Co. SunPower Hits Ch. 11 With $2B Of Debt
Residential solar technology company SunPower Corporation filed for Chapter 11 protection in Delaware with more than $2 billion of funded debt obligations and plans for an asset sale.
Expert Analysis
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Opinion
SEC Doesn't Have Legal Authority For Climate Disclosure Rule
Instead of making the required legal argument to establish its authority, the U.S. Securities and Exchange Commission's climate-related disclosure rule hides behind more than 1,000 references to materiality to give the appearance that its rule is legally defensible, says Bernard Sharfman at RealClearFoundation.
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What 100 Federal Cases Suggest About Changes To Chevron
With the U.S. Supreme Court poised to overturn or narrow its 40-year-old doctrine of Chevron deference, a review of 100 recent federal district court decisions confirm that changes to the Chevron framework will have broad ramifications — but the magnitude of the impact will depend on the details of the high court's ruling, say Kali Schellenberg and Jon Cochran at LeVan Stapleton.
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Opinion
SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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How Cos. Can Comply With New PFAS Superfund Rule
The U.S. Environmental Protection Agency's new rule designating two per- and polyfluoroalkyl substances as "hazardous substances" under the Superfund law will likely trigger additional enforcement and litigation at sites across the country — so companies should evaluate any associated reporting obligations and liability risks, say attorneys at Alston & Bird.
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Recent Wave Of SEC No-Action Denials May Be Slowing
The U.S. Securities and Exchange Commission in March granted no-action relief to Verizon and others on the grounds that a director resignation bylaw proposal would mean violating Delaware law, bucking recent SEC hesitation toward such relief and showing that articulating a basis in state law is a viable path to exclude a proposal, say attorneys at Winston & Strawn.
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Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.
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In Energy Disputes, Good Arbitration Clauses Are Key
Recent trends have spawned many complex energy disputes that cross jurisdictional boundaries — but arbitration offers an optimal forum for resolving such matters, especially when arbitration provisions in contracts are tailored for the energy sector, say Scott Marrs at Akerman and Andrew Barton at the American Arbitration Association and the International Centre for Dispute Resolution.
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10b-5 Litigation Questions Follow Justices' Macquarie Ruling
Last month, the U.S. Supreme Court held in Macquarie v. Moab that pure omissions are not actionable under U.S. Securities and Exchange Commission Rule 10b–5(b), creating a slightly higher bar for plaintiffs and setting the stage for further litigation over several issues, say Steve Quinlivan and Sean Colligan at Stinson.
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Series
Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
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Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.
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Breaking Down EPA's Rule On PFAS In Drinking Water
Last week, the U.S. Environmental Protection Agency finalized the first enforceable federal drinking water regulation for PFAS, which, along with reporting and compliance requirements for regulated entities, will have a number of indirect effects, including increased cleanup costs and the possible expansion of existing Superfund sites, say attorneys at Morgan Lewis.
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Fed. Circ. Ruling Shows Difficulty Of Proving Deceptive Intent
The Federal Circuit’s recent Freshub v. Amazon decision demonstrates how proving the deceptive intent requirement for inequitable conduct can be challenging, even when there is a five-year delay after abandonment before revival, say attorneys at BCLP.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Wave Of Final Rules Reflects Race Against CRA Deadline
The flurry of final rules now leaping off the Federal Register press — some of which will affect entire industries and millions of Americans — shows President Joe Biden's determination to protect his regulatory legacy from reversal by the next Congress, given the impending statutory look-back period under the Congressional Review Act, say attorneys at Jenner & Block.
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Class Actions At The Circuit Courts: April Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.