The short… and long of it.
Through our successful representation of clients in numerous derivative litigations, we have recovered millions of dollars for corporations damaged by the misconduct of their directors and officers. We have not only remedied financial damages caused to those companies, but have also caused them to install effective internal control systems, and enact corporate governance reforms to prevent the misconduct from recurring Our high profile successes include:
- Freddie Mac Derivative Litigation (United States District Court for the Southern District of New York). Freddie Mac announced one of the largest financial restatements in United States corporate history. Through our tireless efforts over several years of litigation, approximately $100 million was recovered for the Company and significant internal control and corporate governance reforms were adopted.
- In re Marsh & McLennan Companies, Inc. Derivative Litigation (Delaware Court of Chancery). Marsh & McLennan was implicated in in a bid-rigging and business-steering scheme. Our efforts through years of litigation led to securing the payment of $205 million to the Company, as well as the imposition of substantial internal control and corporate governance reforms.
- In re: LifeLock, Inc. Derivative Litigation (Arizona Superior Court). Negotiated substantial internal control and corporate governance reforms designed to prevent further damage to the Company through its alleged violation of a Court Order and its unfair and deceptive conduct directed toward consumers.
- In re FirstEnergy Shareholder Derivative Litigation (United States District Court for the Southern District of Ohio). In the wake of the nation’s largest power outage and the closure of the Company’s nuclear facility resulting from mismanagement and oversight failings, we recouped $25 million for the Company and caused it to substantially improve its management and oversight systems.
Spahn v. Edward D. Jones & Co. (United States District Court for the Eastern District of Missouri). We recovered $127.5 million for the class.
Bachman, et al., v. A.G. Edwards, Inc. (22nd Judicial Circuit Courtt, St. Louis, Mo). A recovery totaling $60 million was obtained for the class.
Levitan v. McCoy (Unite States District Court for the Northern District of Illinois). We recovered about $40 million for stockholders.