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
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 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
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
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
Compass Lexecon was retained by counsel for Repsol to assist in quantifying damages in its ICSID arbitration claim due to the 2012 nationalization of its majority (51%) equity investments in Argentina. Repsol had controlling investments in the largest integrated Argentine oil and gas company, YPF S.A., as well as in … Continued
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
Raymond M. Pfeil, et al. v. State Street Bank and Trust Co., U.S. District Court, Eastern District of Michigan, Southern Division Plaintiffs alleged a breach of fiduciary duty by State Street for failure to prudently manage the assets in General Motors Corporation’s two main 401k plans, in violation of Section … Continued
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
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