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 […]
Our firm served as one of two lead counsel for the class in In re Cendant Corporation Litigation, Master File No. 98-1664 (WHW), before the Honorable William H. Walls of the U.S. District Court for the District of New Jersey. We were retained by the two largest state pension funds and the largest municipal pension fund […]
BR&B acted as lead counsel for lead plaintiff the Policemen’s Annuity and Benefit Fund of Chicago (“PABF”) in In re Apollo Group, Inc. Securities Litigation, one of the rare securities class actions to be successfully tried to a jury verdict. Background Apollo Group, Inc., best known as the parent company of the University of Phoenix (“UOP”), […]
Barrack, Rodos & Bacine served as a Lead Counsel in the securities class action against American International Group, Inc., representing the State of Michigan Retirement Systems (“State of Michigan”), which served as the Court-appointed Lead Plaintiff. The Firm also represented additional named plaintiffs Maine Public Employees Retirement System and the Port Authority of Allegheny County […]
After full briefing and oral argument, a Philadelphia federal court granted in major part the Lead Plaintiffs’ motion for class certification in the securities class action lawsuit against Energy Transfer LP, its CEO and three other senior executives. The lawsuit alleges that the defendants made false statements to investors concerning two major pipeline construction projects […]
On August 2, 2022, United States District Judge Dabney L. Friedrich of the District of Columbia granted final approval of the $65.75 Million settlement. The Judgment entered by the Court is available here. In approving the Settlement, Judge Friedrich found that the Lead Plaintiff, the State Teachers Retirement System of Ohio (“STRS Ohio”), had faithfully […]
