Recent News

$165 Million Settlement in Schering-Plough Securities Litigation Wins Final Approval

12/31/2009 - On December 31, 2009, the Honorable Katharine S. Hayden of the United States District Court for the District of New Jersey granted final approval to a proposed $165 million settlement in a securities class action against Schering-Plough Corp. (recently acquired by Merck & Co., Inc.). Barrack, Rodos & Bacine represented the lead plaintiff, the Florida State Board of Administration, who brought the case on behalf of purchasers of Schering-Plough stock during the period from May 9, 2000 through February 15, 2001.

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U.S. District Judge O’Grady Grants Final Approval of Landmark Settlements in In re Mills Corporation Securities Litigation

12/23/2009 - On December 23, 2009, the Honorable Liam O’Grady of the United States District Court for the Eastern District of Virginia granted final approval of three settlements collectively constituting a $202.75 million recovery for the benefit of the class in In re Mills Corporation Securities Litigation.

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Barrack, Rodos & Bacine Appointed to Florida State Board of Administration Litigation Pool

12/11/2009 - The Florida State Board of Administration announced that it has reappointed Barrack, Rodos & Bacine to the pool of law firms available to represent the agency in lawsuits involving securities matters. The SBA oversees the $113 billion Florida Retirement System and $23 billion in other funds. The SBA conducted a public selection process for the pool and received 31 applications. The SBA selected BR&B and several other firms to participate in the pool.

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ValueClick Settlement Receives Final Approval

11/25/2009 - Barrack, Rodos & Bacine, sole lead counsel for lead plaintiffs in Waldrep v. ValueClick, Inc., et al., Case No. CV 07-5411 DDP, announces that the Honorable Dean D. Pregerson of the United States District Court for the Central District of California, has granted final approval to a settlement of the case. Under the settlement, defendants have made a cash payment of $10 million for the benefit of the class.

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Judge Denies Motion to Dismiss in RICO Case

11/23/2009 - The Honorable Andrew J. Guilford of the United States District Court for the Central District of California has denied, in large part, defendants’ motions to dismiss the complaint filed by Barrack, Rodos & Bacine on behalf of plaintiffs in Reiter, et al. v. Mutual Credit Corp., et al., Case No.

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Barrack, Rodos & Bacine Files Antitrust Complaint Against Producers of Blood Plasma Proteins

11/6/2009 - Barrack, Rodos & Bacine filed a class action complaint against Baxter International, Inc., CSL Limited and CSL Behring alleging that these companies violated the federal antitrust laws by conspiring to restrict output, allocate markets, and to fix, raise, maintain and/or stabilize the prices for Ig and Albumin proteins derived from blood plasma (“Blood Plasma Proteins”).

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Opposition to Motions to Dismiss Filed in AIG Case

10/2/2009 - On behalf of the State of Michigan Retirement Systems, the Lead Plaintiff in the AIG 2008 Securities Litigation, Barrack, Rodos & Bacine filed an omnibus opposition to the motions filed by all defendants to dismiss the Consolidated Class Action Complaint. In opposing the dismissal motions, BR&B cited extensively to the complaint, to case law relating to the claims asserted against defendants, and to a Declaration of Jeffrey W. Golan.

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Barrack, Rodos & Bacine Files Complaint Concerning Exxon Mobil Corporation

10/1/2009 - Barrack, Rodos & Bacine filed a stockholder’s direct action and derivative action on behalf of Exxon Mobil Corporation. The complaint alleges that the company and members of its management team made false and misleading statements in the company’s proxy statements for the 2008 and 2009 annual stockholders meetings about the company’s ability to take tax deductions for the compensation paid to its most senior executives. The complaint also alleges that the board failed to seek timely stockholder reapproval of the company’s performance-based compensation plan.

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Barrack, Rodos & Bacine Files Stockholder's Derivative Complaint on behalf of Pfizer, Inc.

9/30/2009 - Barrack, Rodos & Bacine filed a stockholder’s derivative action on behalf of pharmaceutical manufacturer Pfizer, Inc. alleging that its past and present directors and senior officers harmed the company by causing it to illegally market 13 prescription drugs over many years. Pfizer was fined $2.3 billion for its illegal conduct, the company’s fourth multi-million dollar fine since 2002. The derivative complaint also alleges that the Pfizer directors solicited proxies without disclosing their involvement in the conduct that resulted in the fine.

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Barrack, Rodos & Bacine Files Complaint Against Guitar Center and National Association of Music Merchants

9/24/2009 - Barrack, Rodos & Bacine filed a class action complaint against Guitar Center and the National Association of Music Merchants (“NAMM”) for violations of the federal antitrust laws. This class action is brought on behalf of a class of purchasers of fretted musical instrument products such as acoustic and electric guitars, violins, amplifiers and strings (“FI Products”) between January 1, 2005 and December 31, 2007 (the “Class Period”).

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