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Turning the Corner: The Worst Appears to Be Over for Texas Firms
Taken as a whole, the 25 highest-grossing Texas-based firms' gross revenue was flat in 2010, compared to 2009, when the total gross revenue of the 25 top firms declined by 3.7 percent. Total net income for the 25 firms also was flat in 2010, compared to 2009. Kane Russell Coleman & Logan of Dallas moved onto the top 25 list for the first time.Union Pacific Resources Group Inc. v. Hankins
Because a covenant to obtain the best price reasonably attainable is implied under Texas law only to proceeds leases, not to market-value leases, the royalty owners have not established that there are questions of law or fact common to the class sufficient to support certification.Ousted Attorney Blames Firm for Asbestos Misconduct Claim
A former associate at Brayton Purcell has sued the firm and founding partner Alan Brayton for failing to pay his legal costs in a malpractice case and bar investigation that followed a scathing order by an Ohio judge accusing him of rampant misconduct in an asbestos case.Texas Crude: Price Setting in Good Faith
The 5th Circuit ruled in August that Exxon Corp. breached its obligation of good faith under the UCC by setting wholesale gasoline prices so high that a group of franchisees in Texas could not compete. Practitioners nationwide should be prepared to confront similar arguments by dealers or franchisees who seek lower prices in their open price term contracts.Alston Seals Calif. Deal, Adds 94 Lawyers
Alston & Bird's partnership on Wednesday approved the firm's expansion into California by acquiring a Los Angeles firm and an intellectual property practice in Silicon Valley. The L.A. firm, Weston Benshoof, has 83 lawyers, and the IP group is Akin Gump's 11-lawyer Silicon Valley office. Alston's managing partner, Richard R. Hays, said the firm added the West Coast offices in response to client demand -- particularly in the IP, energy and sustainability, financial services and litigation areas.Piper Rudnick Nabs Steinhart as San Francisco Outpost
Piper Rudnick has cracked San Francisco's legal market with a deal to swallow 32-lawyer, 100-year-old Steinhart & Falconer. Steinhart partners said the firm was still performing well financially. But, like other small local and regional players, it was feeling the squeeze from the gathering momentum of national firms, with their greater geographic reach and financial resources.Trending Stories
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