Case

Class Action Litigation Experience

Class Action Litigation:

• Represent defense contractor in consolidated securities class action in the U.S. District Court, Eastern District of Pennsylvania.
• Represented a multi-state bank and several of its officers and directors in a class action filed in the U.S. District Court, District of New Jersey.  The district court granted our motion to dismiss, holding that the defendants had failed to make a misleading statement to the market.  In March 2007, the ruling was affirmed by the United States Court of Appeals for the Third Circuit.
• Represented an entertainment and game software producer and certain of its officers and directors in a consolidated securities class action in the U.S. District Court, Southern District of New York, following the corporation’s restatement of earnings for two fiscal years and the initiation of an SEC investigation.
• Represented a publicly traded high-tech company and its directors in a securities class action concerning a follow-on offering of stock by the company.  Motion to dismiss based on "bespeaks caution" doctrine was granted in its entirety by the U.S. District Court, Eastern District of Pennsylvania.  Plaintiff appealed and, after oral argument, the matter was settled on favorable terms.
• Representing a microwave products manufacturer in a consolidated securities class action in the U.S. District Court, Eastern District of Pennsylvania, as well as a companion derivative action.
• Represented an e-mail service company and its directors and officers in an action alleging claims under Section 10(b) in the U.S. District Court, District of Kansas.  We succeeded in obtaining an order dismissing claims under Section 10(b), the Kansas Security Act, and Kansas state common law concerning misrepresentations made in connection with a merger agreement.
• Represented a software development company and its officers and directors in a securities class in the U.S. District Court, Eastern District of Pennsylvania.  We resolved this matter successfully for our client.
• Represented a homeland security technology company and its chief executive officer in three federal securities cases in the U.S. District Court, Southern District of Florida.  We brought successful motions to dismiss each of these actions for failure to state a securities claim.
• Represented a provider of commodity trading software in a securities class action brought in the U.S. District Court, Southern District of New York.  The plaintiffs alleged false financial disclosure.  We filed a motion to dismiss and were able to obtain an extremely favorable settlement.  
• Represented a publicly traded footwear and apparel company, and its officers and directors, in a securities class action in the U.S. District Court, Southern District of New York.  We resolved this matter in an expeditious and favorable fashion by negotiating and structuring a highly creative settlement in which the company contributed cash (in installments) and a newly created convertible Class A common stock over a two-year period, and the balance of the cash was funded by insurance.  A companion derivative action was resolved at the same time without any additional payment.
• Represented a publicly traded home health provider, and certain of its directors and officers, in a securities class action concerning the corporation’s financial disclosures.  Motion to dismiss was partially granted by the U.S. District Court, Eastern District of Pennsylvania, resulting in the negotiation of a favorable settlement.
• Represented a specialty generic pharmaceutical company in a securities class action suit and certain of its officers and directors.  The plaintiffs alleged the issuer had issued false or misleading statements about its reserves, revenues, and income. In January of 2007, the U.S. District Court, Northern District of California dismissed the Second Amended Complaint in the case for failure to plead loss causation.
• Represented a developer of digital laser-imaging technologies, and its officers and directors, in a consolidated class action alleging accounting errors, adoption of analyst reports, and other securities violations.  Motion to dismiss was partially granted, and the accounting claims dismissed on summary judgment after limited discovery by the U.S. District Court, District of New Hampshire.  This resulted in the negotiation of a favorable settlement.
• Represented an investment firm in a securities class action alleging false and misleading statements in connection with the sale of $189 million of notes.
• Represented a top global mobile phone distributor in a consolidated class action arising from its restatement of earnings for two fiscal years.  We were able to negotiate a favorable settlement of this action.
• Represented a former director and officer of a large retail (catalog and mail order) company in a consolidated class action filed in the U.S. District Court, Northern District of Illinois, which alleged that the officers and directors engaged in securities fraud in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Section 10(b).  We obtained a favorable settlement this matter.
• Represented the former CFO of a $4 billion tier-1 auto components manufacturer in a federal securities fraud class action in which the company and individual defendants are alleged to have engaged in improper revenue recognition and accounting.
• Represented a large defense communications systems company in a suit against the former management and shareholders of a company it acquired for over $80 million.  Our client contended that the defendants participated in a scheme to inflate the value of the stock of the acquired company, in violation of the federal securities laws, by omitting and/or misrepresenting certain material information vital to the value of the company’s business.