Lookzy: all your daily legal news in 0.1 billable hours. Plain English coverage of deals, litigation and legal trends trusted by lawyers at Cravath, Latham, Skadden, Gunderson and elsewhere.

Welcome to Lookzy. In today's Lookzy:

• Exxon battles securities fraud revival

• Skadden launches Saudi JV

• Texas judge halts DEI rule enforcement

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THE VERDICT

Arguing today's litigation news

Exxon Climate Statements Under Fire.
The Fifth Circuit revived a securities fraud class action alleging Exxon Mobil misled investors about the financial impact of climate regulations on its Canadian oil sands business. A divided panel held that plaintiffs plausibly alleged executives made material misstatements. The case returns to district court for discovery.

SEC Sanctions Ex-Broker.
The SEC permanently barred former Ameriprise advisor Michael MacDonald for misappropriating over $1 million in client funds through fake investments and falsified account statements. MacDonald agreed to a settlement without admitting wrongdoing and may face criminal charges.

Patent Venue Ruling Narrows.
A Texas federal court dismissed a patent case against Oracle, ruling that subsidiary employment of remote workers in the district doesn't establish venue under TC Heartland. The decision may further restrict plaintiffs' ability to keep patent suits in the Western District of Texas.

THE DEAL

Wheelin' and dealin' today's corporate news

Etihad to Merge with Emirates?
Speculation swirls as UAE officials reportedly consider merging Etihad Airways with Emirates in a $10 billion consolidation play to bolster post-COVID competitiveness and streamline government support. No formal announcement has been made, but antitrust and aviation regulators are expected to scrutinize any deal closely.

Cargill Invests in Food-Tech.
Cargill led a $200 million Series D funding round in cultured-meat startup FutureMeat, marking its largest food-tech equity investment to date. The deal includes strategic IP-sharing provisions and minority board representation for Cargill.

BOILERPLATE

Firm News

Skadden Enters Saudi Market.
Skadden, Arps, Slate, Meagher & Flom announced a joint venture with Riyadh-based Al Tamimi & Co., giving it a formal presence in Saudi Arabia for the first time. The move comes amid a surge in local capital markets and sovereign wealth fund activity.

Wilmer’s New CFIUS Chair.
WilmerHale tapped partner Claire Reade to chair its CFIUS and National Security group, citing her experience at USTR and advising tech clients on foreign investment reviews. She replaces David Bowker, who moves to lead global disputes.

School News

Cornell Protest Fallout Continues.
Cornell Law is under scrutiny after police arrested six students in a building occupation protesting proposed tenure reforms and administrative opacity. Faculty have circulated a letter supporting disciplinary leniency, while the administration says policies were “clearly violated.”

Texas DEI Ban Blocked.
A federal judge in the Western District of Texas issued a preliminary injunction halting enforcement of the state’s new DEI ban at public universities, ruling it likely violates the First Amendment’s protection of academic freedom. The case was brought by faculty at UT Austin.

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