On December 30, 2008, The United States Court of Appeals for the Third Circuit ruled unanimously in favor of our clients, several producers of hydrogen peroxide, with regard to class certification in the Hydrogen Peroxide Antitrust Litigation. In what has been described as one of the most important class certification … Continued
On December 16, 2008, Judge William J. Hibbler ruled in favor of our client, the Northern Trust Corporation, by denying a preliminary injunction sought by BP p.l.c. Northern Trust serves as investment manager for various BP pension plans and engaged in securities lending pursuant to its management agreements. After the … Continued
On December 2, 2008, the Securities and Exchange Commission approved a proposed rule change relating to the sale of “non-core” data by NYSE Arca. Janusz Ordover and Gustavo Bamberger filed an economic assessment of a prior draft order on behalf of the NASDAQ Stock Market. The Commission cited the Ordover/Bamberger … Continued
Direct purchasers, indirect purchasers, and generic manufacturers sued Abbott Laboratories and Fournier in these cases alleging that the introduction of new formulations (and subsequent delisting of the old formulations) of the cholesterol drug TriCor harmed competition by hindering generic manufacturers’ ability to sell old versions of the products. Rich Gilbert … Continued
In this class action case, plaintiffs alleged Boston Scientific breached its fiduciary duty to its 401(k) Retirement Savings Plan by selecting company stock as an investment despite knowledge the price was artificially inflated. David Ross, supported by a team in Chicago, submitted an affidavit on behalf of the defendants who … Continued
Compass Lexecon was retained by both Delta Air Lines and Northwest Airlines in connection with their proposed merger to become the world’s largest airline. Bobby Willig, Dan Rubinfeld, Jon Orszag, Theresa Sullivan, Steve Peterson, and Bryan Keating, along with others in Chicago, Washington, DC, and Boston, were retained by Tim … Continued
Federal Guaranty Insurance Co. (FGIC) entered into a master agreement with MBIA Insurance Corp. (MBIA) in which MBIA acquired approximately $184 billion of FGIC’s municipal bond insurance obligations. GE Funding Holdings, Inc. (GE), the owner of FGIC’s senior preferred shares, challenged the transaction alleging that it would constitute the sale … Continued
On September 23, 2008, The United States District Court for the Northern District of Illinois Eastern Division ruled in favor of our client, Exxon Mobil, and other petroleum refiners in denying certification of a proposed class of retail gasoline purchasers in the United States. The allegations involved market dominance and … Continued
In this case, plaintiffs alleged that Loral’s October 2006 issuance of convertible preferred stock for $300 million to its largest shareholder, MHR Fund Management LLC, was unfair. David Ross, supported by a team in our Chicago office, testified at trial on behalf of the class action plaintiffs. Vice Chancellor Leo … Continued
We were retained in this case by Richard Clary and Julie North of Cravath, Swaine & Moore LP on behalf of their client Credit Suisse First Boston (“CSFB”) which was a defendant in the massive Enron securities fraud class action. We supported Compass Lexecon affiliate Robert Hamada, as well as … Continued