News

Mergers & Acquisitions: Delaware Chancery Court Confirms Sandbagging by Buyer is Allowed

In the context of acquisition agreements, “sandbagging” refers to a claim by a buyer based on a false representation even though the buyer knew or had reason to suspect it was inaccurate. This recent decision affirms Delaware as a “pro-sandbagging” state and sellers should be cautious in the sale process to clearly disclose to buyers all information responsive to the requirements of the agreement.

In Memory of Donald E. Pray (1932–2025)

With deep sadness, we share that our founding partner, Donald E. Pray, passed away on Monday, May 26, 2025. Don’s vision, integrity, and enduring commitment to excellence shaped not only Pray Walker but also the broader legal and philanthropic communities across Oklahoma and beyond.

Pray Walker Expands, Adds Attorneys from Aston Mathis and Campbell

Pray Walker is pleased to announce that as of March 1, 2025, the attorneys and staff of Aston Mathis and Campbell will join Pray Walker. The addition of seven attorneys and five professional staff is a strategic combination that will add expertise across a broader array of legal disciplines and escalate the blended practice to a higher level of service.

Client Alert - The Deadline for most companies to file under the Corporate Transparency Act is January 1, 2025

The Corporate Transparency Act (the “Act”) requires the filing of information about the beneficial ownership of companies that are subject to this new law. Reports are required to be filed with the Financial Crimes Enforcement Network of the Treasury Department (“FinCEN”).

Pray Walker Welcomes Maxfield Malone As New Associate

Max Malone comes to Pray Walker from the Tulsa County District Attorney’s Office as an Assistant District Attorney. His experience there included work in the juvenile and criminal divisions. While at the District Attorney’s Office Max joined the Special Victim’s Unit and prosecuted cases involving sex crimes, aggravated domestic violence and domestic homicide. 

Pray Walker Welcomes Paul Hood As New Associate

Paul earned his bachelor’s degree from Louisiana State University and law degree from Loyola University New Orleans College of Law. He earned a Master of Education -M.Ed. – with a concentration in Adult and Higher Education Administration from the University of Oklahoma. Paul’s expertise includes complex business/commercial litigation, employment and labor law, personal injury, and insurance cases. 

Pray Walker Hosted Legal Netlink Alliance General Meeting in Tulsa

Legal Netlink Alliance (LNA), a global association of independent law firms in North America, South America, Europe, and the Middle East, gathered last week for the 2024 North American general meeting. Hosted by Pray Walker, attorneys representing LNA member firms conducted their spring general meeting and conference from May 16 to May 17 at the Mayo Hotel.

How to Cash-in: Carbon Sequestration Rules - Already On the Books In Oklahoma

Building upon our November, 2023 article exploring the expanded benefits for carbon capture and sequestration under the Inflation Reduction Act, this article delves into Oklahoma’s existing framework for carbon capture and sequestration. Oklahoma has enacted two statutes on carbon capture seeking to be a leading force in the field of carbon capture and sequestration.

Oklahoma non-profit entities subject to new requirements

Effective November 1, 2023, many Oklahoma non-profit entities are subject to new requirements that may have far-reaching and unexpected effects. This little known new law requires that many Oklahoma based religious, charitable and educational non-profits give notice to the Oklahoma Attorney General forty-five days prior to certain events or transactions. These provisions create a new level of scrutiny to certain transactions by charities that is not applicable to private business in Oklahoma.

UPDATE as of April 5, 2024: Getting Ready for the Corporate Transparency Act in 2024

On March 1, 2024, in the case of National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), a federal district court in the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment, concluding that the Corporate Transparency Act exceeds the Constitution’s limits on Congress’s power and enjoining the Department of the Treasury and FinCEN from enforcing the Corporate Transparency Act against the plaintiffs.

24 Legal Netlink Alliance US Members Ranked in Best Law Firms® 2024 List

Legal Netlink Alliance is happy and proud to announce that no less than 24 of our US member firms have been ranked this year in the prestigious Best Law Firms® 2024 List. "This is proof of the top-notch quality of our members in Legal Netlink Alliance and we are thrilled that the number of practice areas ranked by Best Law Firms® 2024 List is very large and diverse", says Scott Centrella, LNA US Board President. "Congratulations to all our 24 members for their dedication and outstanding practice of law which has determined their peers' recognition!"

Cashing in on Credits for Carbon Capture Underground Storage

The phrase “cap and trade” has, for years, been a reality for power plants, industrial plants and other high carbon oxide emitters in the United States. Essentially, American industries must limit their carbon oxide emissions to governmentally mandated caps or pay a “carbon” tax, unless the company has either earned or acquired carbon credits that offset the carbon tax. Under section 45Q of the Internal Revenue Code, credits were established to help power plants and high carbon oxide emitters to decarbonize.

Pray Walker congratulates our lawyers who have been selected for the milestone 30th edition of The Best Lawyers in America.

Pray Walker attorneys selected for the 2024 edition of The Best Lawyers in America® include: ‍Steve Butterfield, C. Bretton Crane, Kevin P. Doyle, William L. Eagleton, Donald S. Smith, Randall G. Vaughan, W. Bland Williamson, Jr. and Robert J. Winter.

It’s time to review Employment Policies - with this in mind….

The National Labor Relations Board’s (NLRB) recent decision in Stericycle impacts employment policies – even if those policies cover non-union employees.

Overtime Pay: The Supreme Court Considers Whether a Daily Rate is a Salary

Recently, the Supreme Court determined in the case of Helix Energy Solutions Group, Inc. v. Hewitt, that an employee paid a day rate totaling approximately $200,000.00 annually was entitled to overtime if he worked in excess of 40 hours in any week.

Representation and Warranty Insurance

Once reserved for only very large transactions, recent changes in the insurance markets have made representation and warranty insurance policies (RWI) more available for merger and acquisition transactions involving smaller dollar amounts.

Pray Walker Welcomes C. Bretton Crane Jr., Ethan Mock, And Alex Telarik As New Shareholders

Pray Walker, a full-service law firm located in Tulsa, Oklahoma, recently announced the additions of C. Bretton Crane Jr., Ethan Mock, and Alex Telarik as new shareholders.

Open House

Pray Walker held an Open House on Thursday, May 11th for clients, friends and family to celebrate their move to the Greenwood District.