Years: 2014

Compass Lexecon Expert Dr. Andrew Roper Testifies Successfully to Defeat Class Certification in China Integrated Energy Securities Fraud Litigation

Plaintiffs sought to represent a class of investors who purchased common stock in China Integrated Energy between March 31, 2010 and April 21, 2011. A federal court denied Plaintiffs’ motion to certify a class holding that Plaintiffs had not established a rebuttal presumption of reliance. As part of the order, … Continued

Securities and Exchange Commission v. Manouchehr Moshayedi

The Securities and Exchange Commission in this case accused Manouchehr Moshayedi, a founder of storage device maker STEC Inc., of insider trading when he and his family sold $267 million worth of shares in a secondary offering in August 2009. A federal court jury last Friday ruled against the SEC, … Continued

Compass Lexecon’s Client A.T. Massey Coal, Inc. Obtains Successful Result in Lost Profits Jury Trial

Compass Lexecon’s President Professor Daniel R. Fischel Testifies at Trial This case involved a lawsuit brought by Harman Corporation and its CEO Hugh Caperton (“Plaintiffs”) against A.T. Massey Coal, Inc. (“Massey” now owned by Alpha Natural Resources) (“Defendant”). Plaintiffs accused Massey of tortious interference and fraudulent actions which allegedly rendered … Continued

Third Point vs. Sotheby’s Proxy Fight

Citing alleged problems with Sotheby’s business strategy and governance, Daniel Loeb and Third Point LLC launched a proxy fight to obtain three seats on Sotheby’s board of directors. Third Point sought to purchase additional shares of Sotheby’s in the contest but was restricted from doing so by a low-threshold poison … Continued

Kenneth Novack v. GSI Commerce, Inc. et al.

Plaintiffs in this case alleged that defendants conspired to purposely and unreasonably undervalue Rue La La, an internet “private sales” business in order to avoid triggering an earnout provision in a previously negotiated merger agreement. The case ultimately went to trial and resulted in a defense jury verdict and a … Continued

Maher vs. Port Authority

On April 25, 2014, Federal Maritime Commission Administrative Law Judge Erin M. Wirth dismissed with prejudice claims that our client, The Port Authority of New York and New Jersey (“PANYNJ”), committed multiple violations of the Shipping Act of 1984. Complainant Maher Terminals (“Maher”) alleged that PANYNJ’s lease agreement with APM … Continued

AT&T’s Acquisition of Leap Wireless

On March 13, 2014, the Federal Communications Commission (FCC) issued an order approving, subject to certain conditions, the spectrum license transfers required to complete AT&T’s $4 billion acquisition of Leap Wireless. This approval completed the regulatory review of the transaction, and AT&T closed the transaction on the same day. Compass … Continued

The Men’s Wearhouse, Inc. v. Wildrick, et al.

Compass Lexecon was retained by Edward Welch and Edward Micheletti of Skadden, Arps, Slate, Meagher & Flom LLP on behalf of their clients, Jos. A. Bank Clothiers, Inc. (Jos. A. Bank) and its directors, in litigation before the Delaware Chancery Court seeking to enjoin the proposed acquisition of Eddie Bauer … Continued