Triumphs

$522M


In re Google Inc. Class C Shareholder Litigation

In re Google Inc. Class C Shareholder Litigation resulted in a payment of $522 million to shareholders and overall benefit of over $3 billion to Google’s minority shareholders.

Shepherd v. Simon, C.A. 7902 (Del. Ch. 2014)

Secured the cancellation of stock grant to CEO and son of founder valued at more than $100 million, and caused the company to modify its equity compensation plan and submit it for shareholder vote; the new plan lowered maximum equity payouts by 92% and was supported by robust disclosures including descriptions of previous violations of compensation plan limits by the company’s Board.

Kleba v. Dees, et al., C.A. 3-1-13 (Tenn. Cir. Ct. Knox Cnty. 2014)

Recovered approximately $9 million in excess compensation given to insiders and caused the cancellation of millions of shares of stock options issued in violation of a shareholder-approved compensation plan. In addition, obtained the adoption of formal corporate governance procedures designed to ensure that future compensation decisions are made independently and consistently with the plan.

Minerva Group LP v. Mod-Pac Corp., et al., Index No. 800621/2013 (New York Supreme Court 2013) (N.Y. Sup.Ct. 2013), Co-Lead Counsel

Obtained a settlement in which defendants increased the price of an insider buyout from $8.40 to $9.25 per share, along with corrective disclosures and the imposition of a “majority of the minority” voting requirement for the approval of the transaction.

Stephen J. Dannis, et al. v. J.D. Nichols, et al., Case No. 13-CI-00452, (Jefferson County Circuit Court of the Commonwealth of Kentucky, 2013), Co-Lead Counsel

Obtained a 23% increase in merger consideration (from $7.50 to $9.25 per unit) for a total benefit of $7.4 million for the unit holders of NTS Realty Holdings Limited Partnership.

$79M


Freudenberg v. E*TRADE Financial Corp., et al., 07 CV 8538 (S.D.N.Y. 2007), Co-Lead Counsel

Selected from a crowded field as Co-Lead Counsel, we achieved a landmark $79 million common fund settlement for the benefit of E*Trade’s shareholders in an action relating to the misrepresentation of the risk associated with E*Trade’s investment in subprime mortgage-backed securities.

Woodford v. M.D.C. Holdings, Inc., 1:2011cv00879 (D. Del. 2012), Co-Lead Counsel

Challenged excessive compensation to top executives and obtained millions of dollars in reductions of that compensation as well as corporate governance enhancements designed to implement best practices with regard to executive compensation and enable increased shareholder input in the process.

In re Cincinnati Bell, Inc., Derivative Litig., Case No. A1105305 (Ohio, Hamilton Cty 2012), Lead Counsel

Achieved significant corporate governance changes and enhancements related to the company’s compensation policies and practices in order to better align executive compensation with company performance. Reforms included the formation of an entirely independent compensation committee with staggered terms and term limits for service.

In re Complete Genomics, Inc. S’holder Litig., C.A. No. 7888-VCL (Del. Ch. 2012), Co-Chair of Plaintiff's Executive Committee

Won a preliminary injunction requiring corrective disclosures and abrogating a “don’t-ask-don’t-waive” standstill agreement, the first injunction ever issued by the Delaware Court of Chancery of such an agreement.

Dias v. Purches, et al., C.A. No. 7199-VCG (Del. Ch. 2012), Lead Counsel

Won a preliminary injunction requiring the company to correct material misstatements made to Parlux shareholders in the proxy statement describing a proposed merger transaction.

$36.5M


In re Bluegreen Corp. S’holder Litigation, Case No. 502011CA018111 (Circuit Court for Palm Beach County, Florida), Co-Lead Counsel

Achieved a $36.5 million common fund settlement for former stockholders of Bluegreen Corp. in the wake of a majority shareholder buyout, representing a 25% increase in total consideration to the minority shareholders.

Great Wolf Resorts, Inc. S’holder Litig., No. 7328-VCN (Del. Ch. 2012), Co-Lead Counsel

Obtained a $93 million increase in merger consideration – representing a 57% premium over the original deal price – and improved the deal terms by negotiating for a waiver of “don’t-ask-don’t-waive” standstill agreements that were precluding potential bidders from making a topping bid for the company.

Bader v. Goldman Sachs Group, Inc., et al., No. 10-4364-cv, 2011 WL 6318037 (2d Cir. Dec. 19, 2011), Lead Counsel

Persuaded the Second Circuit Court of Appeals to reverse the District Court’s dismissal of derivative claims seeking to recover excessive compensation granted to officers and directors of Goldman Sachs.

Pfeiffer v. Alpert, et al., (Beazer Homes Derivative Litigation), C.A. No. 10-cv-1063-PD (D. Del. 2011), Lead Counsel

Achieved a substantial revision to an unlawful executive compensation structure, limiting the use of “performance criteria” to award excessive executive compensation; also obtained additional material disclosures to shareholders on how executive compensation is set.

Craftmade International, Inc. S’holder Litig., C.A. No. 6950-VCL (Del. Ch. 2011), Co-Lead Counsel

Won a hard-fought injunction requiring the company to issue numerous corrective disclosures and to publish a “Fort Howard” press release, inviting potential bidders to make superior offers.

$42M


In re CNX Gas Corp. S’holder Litig., 4 A.3d 397 (Del. Ch. 2010)

As a member of Plaintiffs’ Executive Committee, we won a landmark ruling from the Delaware Court of Chancery establishing a unified standard for assessing the rights of shareholders in the context of freeze-out transactions, which ultimately led to a recovery of over $42.7 million for shareholders.

Talecris Biotherapeutics Holdings S’holder Litig., C.A. No. 5614-VCL (Del. Ch. 2011), Counsel for one of the lead plaintiffs

Obtained increased merger consideration consisting of 500,000 shares of the acquiring company’s stock, and also provided shareholders with appraisal rights valued at $7.6 million.

Pfeiffer v. Toll, et al., (Toll Brothers Derivative Litigation), C.A. No. 4140-VCL (Del. Ch. 2010), Counsel for plaintiff

Prevailed in a decision on a motion to dismiss in a case seeking disgorgement of profits that company insiders reaped through a pattern of insider-trading, and after extensive discovery secured a settlement returning $16.25 million in cash to the company, including a significant contribution from the individuals who traded on inside information.

Corinthian Colleges, Inc., S’holder Derivative Litig., SACV-06-0777-AHS (C.D. Cal. 2009), Co-Lead Counsel

Obtained re-pricing of executive stock options providing more than $2 million in benefits to the company, secured substantial corporate governance reforms and improved internal controls designed to prevent future corporate abuses.

i2 Technologies, Inc. S’holder Litig., C.A. No. 4003-CC (Del. Ch. 2008), Counsel for the lead plaintiff

Challenged the fairness of certain asset sales made by the company and obtained a $4 million recovery.

Activision, Inc. S’holder Derivative Litig., No. 06-cv-04771-MRP (JTLX) (C.D. Cal. 2006), Co-Lead Counsel

Recovered more than $24 million in excess compensation based on backdated stock option grants to executives and caused the company to implement substantial corporate governance reforms.

In re Net2Phone, Inc. S’holder Litig., Case No. 1467-N (Del. Ch. 2005), Co-Lead Counsel

Obtained a settlement in which defendants increased the price of a tender offer from $1.70 per share to $2.05 per share, as well as additional material disclosures concerning the valuation of the transaction to allow shareholders to better assess the terms of the transaction prior to the shareholder vote.

$522M


In re Google Inc. Class C Shareholder Litigation

In re Google Inc. Class C Shareholder Litigation resulted in a payment of $522 million to shareholders and overall benefit of over $3 billion to Google’s minority shareholders.

$79M


Freudenberg v. E*TRADE Financial Corp., et al., 07 CV 8538 (S.D.N.Y. 2007), Co-Lead Counsel

Selected from a crowded field as Co-Lead Counsel, we achieved a landmark $79 million common fund settlement for the benefit of E*Trade’s shareholders in an action relating to the misrepresentation of the risk associated with E*Trade’s investment in subprime mortgage-backed securities.

$36.5M


In re Bluegreen Corp. S’holder Litigation, Case No. 502011CA018111 (Circuit Court for Palm Beach County, Florida), Co-Lead Counsel

Achieved a $36.5 million common fund settlement for former stockholders of Bluegreen Corp. in the wake of a majority shareholder buyout, representing a 25% increase in total consideration to the minority shareholders.

$42M


In re CNX Gas Corp. S’holder Litig., 4 A.3d 397 (Del. Ch. 2010)

As a member of Plaintiffs’ Executive Committee, we won a landmark ruling from the Delaware Court of Chancery establishing a unified standard for assessing the rights of shareholders in the context of freeze-out transactions, which ultimately led to a recovery of over $42.7 million for shareholders.