As previously announced, in September 2021, Barrack, Rodos & Bacine and two of its clients, along with three other firms and two other plaintiffs, were appointed to lead a consolidated stockholder class action brought on behalf of MSG Networks Inc. (MSGN) stockholders challenging the $900 million merger between Madison Square Garden Entertainment Corp. (MSGE) and […]
On March 29, 2023, United States District Judge Nina Gershon of the Eastern District of New York issued an opinion denying defendants’ motion to dismiss an Amended Complaint BR&B filed against Dentsply Sirona, Inc. and a number of its executives and directors. The Court’s decision upheld the Amended Complaint, filed for BR&B client Strathclyde Pension […]
On March 28, 2023, after full briefing and oral argument before both the Magistrate Judge and the U.S. District Judge presiding over the case, the Court rejected Grand Canyon Education, Inc.’s attempt to escape liability for alleged misstatements about the reasons for and ultimate success of Grand Canyon’s spin-off of the for-profit Grand Canyon University […]
Lead Plaintiffs, the Public Employees’ Retirement System of Mississippi, the Government Employees’ Retirement System of the Virgin Islands (“VIGERS”), and the Public Employees Retirement Association of New Mexico, on behalf of themselves and the Settlement Class of investors in the common stock of WageWorks, Inc. (“WageWorks”) and defendants in In re: WageWorks, Inc. Securities Litigation have agreed […]
Barrack, Rodos & Bacine served as sole Lead Counsel in the securities class action against Mallinckrodt PLC, representing the State Teachers Retirement System of Ohio (Ohio STRS) , which served as the Court-appointed Lead Plaintiff. After five years of litigation, the parties settled the case for $65.75 million, one of the largest settlements in a […]
Our firm served as a lead counsel representing the lead plaintiff, our client, the New York State Common Retirement Fund, through its sole trustee, the Comptroller of the State of New York, and a class of investors in the securities of WorldCom, Inc. in an action brought in 2002 shortly after the collapse of the […]
From 2000 to 2005, The Mills Corporation (“Mills”), an owner and developer of “shoppertainment” centers throughout the United States and in Europe, publicly reported the financial results of an apparently rapidly growing, highly-profitable company. Between 2000 and 2004, Mills’ publicly-reported net income increased nearly 700%, from $34.4 million to $232 million, and its Funds From […]
BR&B served as co-lead counsel representing the lead plaintiff, the New York State Common Retirement Fund, in this action against McKesson HBOC, Inc., a company formed in January 1999 as a result of a merger between McKesson, a pharmaceutical distributer, and HBO & Company, a health care information systems developer. Despite the tenuous connection between […]
Background Federal courts in the United States have been the predominant forum for securities litigation, given the rights afforded investors under the federal securities laws, the ability to bring cases as class actions and the availability of contingent fee arrangements. In recent years, however, attention has turned increasingly to other countries as possible forums for […]
On September 1, 2005, Novartis A.G. announced a proposed transaction to purchase all the outstanding shares of Chiron Corporation it did not already own for $40.00 per share. (At the time of the announcement, Novartis already owned about 42% of Chiron’s outstanding common stock.) In response, Chiron’s shareholders filed suits in California and Delaware challenging […]
