I cannot reliably yet say whether this substitution of counsel makes an agreed settlement less — or more — likely.
But it does strike me as odd, if the named defendants (directors and officers of legacy Textura, prior to the Oracle buy-out deal) were close to finishing a settlement, why “switch horses” now?
So this might be seen as a sign of increased interest in trying the case — or it may be as simple as Oracle is used to working with the San Fran office of Sidley. After all, to the extent that Textura’s legacy D&O insurance is tapped out, it will be Oracle that foots the bill — beyond whatever Mr. Allin is told to pay, personally — out of pocket (if anything).
I do note, with some keen interest, that one of the lead new attorneys is a partner from Sidley San Fran. I bet she often works with Oracle on litigation, as well.
Now we wait to see, but it is fascinating. . . just the same.