Compass Lexecon was retained by Matthew R. Kipp of Skadden, Arps, Slate, Meagher & Flom LLP on behalf of his client, Insys Therapeutics, in litigation before the Superior Court of Arizona in Maricopa County. The litigation arose due to a reverse stock split that Insys effected on June 2, 2009. The litigation was subsequently expanded and Plaintiff sought, among other relief, the fair value of his Insys common stock as of June 2, 2009, compensatory and punitive damages, and rescission of all assignments to Insys of his interest in the patent applications, as well as attorneys’ fees, costs and interest. In total, Plaintiff asked for more than $400 million in damages plus fees, costs, and interest and proffered expert testimony that Insys was worth $1.1 billion in June 2009. Compass Lexecon expert Kevin Dages submitted opening and rebuttal reports and testified at trial that the fair value of Insys as of June 2009 was in the range of $23.8 to $26.8 million. In June 2015 the Court found in favor of Insys on all claims except one and only awarded plaintiffs $7.3 million in damages, a tiny fraction of the more than $400 million damages sought. Compass Lexecon also worked with Nicole Lerescu, Charles Andrewscavage, Edward P. Welch, and Sarah T. Runnells Martin at Skadden, Arps, Slate, Meagher & Flom LLP and Joel P. Hoxie, James R. Condo, and Kelly A. Kszywienski at Snell & Wilmer LLP. Mr. Dages was supported by a team in Compass Lexecon’s Chicago office which included Tim McAnally, Jennifer Milliron, George Hickey, and Edward Crane.