ArticleThe PCAOB Brings First Failure-To-Supervise CaseOn April 5, the Public Company Accounting Oversight Board levied a $100,000 fine against Scott Marcello, the former Vice Chair of Audit at KPMG.United StatesAccounting and AuditWinstead PC
ArticleBusiness Divorce: Minority Shareholder Rights In TexasDavid F. Johnson presented his paper "Business Divorce: Minority Shareholder Rights In Texas" to the State Bar of Texas's Business Disputes Course on September 2-3, 2021.United StatesCorporate/Commercial LawWinstead PC
ArticleSEC Increases Financial Thresholds For Qualified ClientsOn August 16, 2021, the financial thresholds specified in the definition of "qualified client" under Rule 205‑3 of the Investment Advisers Act...United StatesCorporate/Commercial LawWinstead PC
ArticleTX-RAMP Requirements For Higher EducationUnder this new program, cloud providers need to demonstrate compliance with the security criteria to receive and maintain a certification for a cloud computing service in Texas. United StatesConsumer ProtectionWinstead PC
ArticleBusiness Divorce: Court Affirms Jury Finding That A Manager Did Not Breach Her Fiduciary DutiesIn Trinh v. Cent. River Healthcare Group, a brother sued his sister over the management of a PLLC. No. 03-19-00393-CV, 2021 Tex. App. LEXIS 4542 (Tex. App.—Austin June 9, 2021, no pet. history). United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticlePresentation: The More The Merrier? Issues Arising From Co-Trustees Administering TrustsDavid Johnson presented his paper "The More The Merrier? Issues Arising From Co-Trustees Administering Trusts" to the State Bar of Texas's Advanced Estate Planning and Probate Course on June 9, 2021. United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleMinority Owner Protection Provisions In Commercial Or Mixed-Use Condominium ProjectsA description of common minority owner protection provisions to consider in condominium declarations are set forth below.United StatesReal Estate and ConstructionWinstead PC
ArticleImpact Of Ransomware Attacks On The Cyber Liability Insurance MarketHealthcare data breaches occur on a daily basis in the US. Most healthcare providers expect it is a matter of "when" not "if" they will be impacted. United StatesTechnologyWinstead PC
ArticleCourt Holds That Shareholder Derivative Suit May Proceed Against An Officer Without A Pre-Suit Demand Where The Case Involved A Closely-Held CorporationIn Novedea Sys. v. Colaberry, Inc., co-founders of a business discussed terms of a buy-out, but ended up in litigation. No. 6:20-cv-00180-JDK, 2021 U.S. Dist. LEXIS 152372 (E. D. Tex. August 13, 2021).United StatesCorporate/Commercial LawWinstead PC
ArticleSEC Conducts Sweep Of Customers Impacted By SolarWinds Cyber BreachReuters reported today that the SEC is investigating last year's hack of SolarWinds, focusing on whether SEC registrants failed to disclose that they had been impacted by the cyber breach.United StatesCorporate/Commercial LawWinstead PC
ArticleBuzz Surrounding NIL In Texas Exploding As Governor Abbott Signs Texas NIL BillOn June 14, Governor Greg Abbott signed into law Texas' name, image, and likeness (NIL) bill, which had previously been approved by both the Texas Senate and the House of Representatives.United StatesMedia, Telecoms, IT, EntertainmentWinstead PC
ArticleSEC And DOJ Bring Parallel Cases Alleging $8 Million Serial Insider-Trading SchemeToday the SEC [1] and the DOJ [2] announced civil and criminal charges involving an alleged brazen $8 million insider-trading scheme. United StatesCorporate/Commercial LawWinstead PC
ArticleAdministrator Of An Estate Has The Power To Seek The Partition Of Community PropertyThe court discussed that Estates Code section 360.253(a) allows a surviving spouse to seek a partition, but holds that it does not make that right an exclusive one to the surviving spouse.United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleIs There A Trustee Get Out Of Jail Free Card? The Use Of Exculpatory Clauses In Trust Documents In TexasDavid F. Johnson presented his paper "Is There a Trustee Get Out of Jail Free Card? The Use of Exculpatory Clauses in Trust Documents in Texas" to the Dallas Bar Association Probate, Trusts, and Estates Section on October 26, 2021.United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleRelative Had Standing To Assert Slayer Statute And Declaration Regarding Rights To Insurance Proceeds Over Victim's EstateIn Lawrence v. Bailey, a son killed his parents with a sledge hammer. No. 01-19-00799-CV, 2021 Tex. App. LEXIS 4716 (Tex. App.—Houston [1st Dist.] June 15, 2021, no pet. history).United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleLooking Back At A Busy Summer Of NIL DealsThe allowance of student‑athletes to monetize their name, image, and likeness ("NIL") has shaken the landscape of college sports. United StatesMedia, Telecoms, IT, EntertainmentWinstead PC
ArticleSEC Charges Case Featuring Alleged Wash Sales Involving Options Of "Meme Stocks"The United States Securities and Exchange Commission recently charged two individuals— Florida residents, Suyun Gu, and his friend, Yong Lee—for their involvement in allegedly fraudulent wash sales involving out-of-the-money options in "meme stocks.United StatesCorporate/Commercial LawWinstead PC
ArticleBusiness Divorce: Court Affirms Denial Of SLAPP Motion Regarding Partnership Divorce SuitIn TSA-Tex. Surgical Assocs., L.L.P. v. Vargas, one partner sued his other partners for various claims regarding the defendants attempt to squeeze the plaintiff out of the partnership. United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleInsurance Broker Does Not Ordinarily Owe Fiduciary Duties To A ClientThe First Amended Complaint sets forth bare assertions, and nothing more, that a fiduciary relationship existed between HISD and Gallagher.United StatesLitigation, Mediation & ArbitrationWinstead PC
ArticleMixed-Use And The Lead Unit Approach: I Can Do This Better Than YouIn a typical condominium regime, the maintenance of each unit is performed by the unit owner, and the maintenance of certain shared components or facilities (i.e., common elements) is performed by the condominium association.United StatesReal Estate and ConstructionWinstead PC