Lessons From The Past For Weil's Final Curtain Call

By Rick Archer

Weil Gotshal & Manges LLP leaders may have every reason to agree to an out-of-court wind-down, but dissolving such a storied law firm, which announced Wednesday it intends to shut down following an exodus of attorneys, is not as simple as a handshake among partners, experts said in interviews with Law360 on Wednesday.

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Investors Awarded $3M Over Miscalculated Oil Co. Warrants

By Jarek Rutz

A Delaware Chancery Court judge ruled Thursday that QuarterNorth Energy Inc. owes investors led by Mudrick Capital Management LP and Ellington Management Group about $3 million after the oil producer miscalculated warrant adjustments following a $200 million dividend.

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Courts Can't Nix Calif. Waiver Moves, EPA Tells DC Circ.

By Keith Goldberg

The Trump administration has urged the D.C. Circuit to restore the U.S. Environmental Protection Agency's move to make Clean Air Act waivers for California subject to potential rescission by lawmakers, saying a lower court wrongly intruded on Congressional authority in blocking the effort.

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Ex-ComEd CEO, Lobbyist Signal Plea Deal Over Retrial

By Celeste Bott

Attorneys for Commonwealth Edison's former CEO and a longtime lobbyist told an Illinois federal judge on Thursday that they are in talks with the government about plea deals rather than an anticipated retrial next year on charges that they conspired to win former Illinois Speaker Michael Madigan's legislative favor in exchange for do-nothing jobs for his allies.

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Navy Beats Clean Water Act Suit Over Fuel Discharges

By Madeline Lyskawa

A Hawaii federal judge ruled in favor of the U.S. Navy over an environmental group's claims it violated the Clean Water Act by discharging fuel into Pearl Harbor, saying there's no reasonable likelihood that the Navy will continue to do so.

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Brief

US Signs Key Sector Memorandums With Hungary, Finland

By Dylan Moroses

Secretary of State Marco Rubio signed memorandums with Finnish and Hungarian officials Thursday indicating that the U.S. will work together with those trading partners on key minerals, technology and energy policy matters.

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EU Head Affirms Ties With Canada As Member Talks Open

By Jack McLoone

European Commission President Ursula von der Leyen on Thursday reaffirmed the European Union's commitment to strengthening its ties with Canada at the opening of a summit to consider whether to adopt Canada as the EU's first-ever associate member.

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Canada, UAE Sign Economic Partnership Agreement

By Jack McLoone

Canada and the United Arab Emirates have reached an agreement on a trade deal that is expected to double bilateral trade between the countries, up to CA$7 billion ($5 billion) annually, the Canadian government said, lauding the agreement as being reached in "record time."

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Brief

EU Pushes China For More Fair Trade Commitments

By Jack McLoone

The European Parliament's Committee on International Trade spent a three-day trip to China pushing for an expansion of a trade framework beyond a recently reached mutual understanding on hybrid vehicles, among other concerns, the committee said Thursday.

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'We're Going To Get Sued': LA Revives Ban On Oil, Gas Wells

By Craig Clough

The Los Angeles City Council on Wednesday passed an ordinance banning all new oil and gas drilling within city limits and phasing out existing wells within 20 years, with one councilmember commenting that the city expects to get sued by members of the industry over the vote. 

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Deals Rumor Mill

BP Board Members Could Favor Biz Break-Up, More Rumors

By Jade Martinez-Pogue

Some board members of oil and gas company BP could be in favor of splitting up the energy giant, Marvell Technology is in "advanced discussions" to acquire laser maker Lumentum in a deal that could be valued at up to $83 billion, and private equity giant TPG considers acquiring British data center group Ark from Elliott Investment Management.

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Va. Data Center Order Shows State Air Permit Limits

A consent order over data center air pollution violations proposed by Virginia, which Microsoft recently agreed to, demonstrates why an emergency situation may not excuse state air permit noncompliance, and why emergency power reliability and environmental compliance cannot be evaluated in isolation, says Sanaa Chakibi at SICPA Securink.

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Weil's Demise Sparks Shock, Reflection In The Legal World

By Alison Knezevich and Andrea Keckley

The stunning collapse of Weil Gotshal & Manges LLP is the talk of BigLaw this week, as those in the industry grapple with how the powerhouse Wall Street firm could implode so quickly.

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'Leadership Vacuum' Preceded Weil's Collapse

By Daniel Moritz-Rabson and Aebra Coe

A series of leadership failures and strategic missteps preceded the precipitous downfall of Weil Gotshal & Manges LLP, sources told Law360 Pulse.

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Weil's Collapse Ends Firm's Long Run As Bankruptcy Leader

By Alex Wittenberg

Weil Gotshal & Manges LLP helped pioneer modern bankruptcy practice and earned hundreds of millions of dollars leading many of the biggest Chapter 11 cases in U.S. history. Its collapse this week marks a stunning end to that legacy and reflects major changes in how law firms function today, attorneys told Law360.

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Troutman, Baker McKenzie Report Data Breaches

By Lynn LaRowe

Troutman Pepper Locke LLP and Baker McKenzie experienced data breaches last month as a result of social engineering attacks, according to notices submitted this week to the attorneys general offices in California and Texas.

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Morgan & Morgan Seeks To Block Celebrity Ad Ban In Florida

By Ryan Boysen

Personal injury giant Morgan & Morgan PA has asked a Florida federal court for a preliminary injunction to block a Sunshine State bar rule that forbids celebrity endorsements in attorney advertisements.

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