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Representative Settlements

Abessinio v. Ernst & Young LLP

Status:Settled
Settlement Amount: Confidential
Practice Area(s): Corporate Governance & Shareholder Rights
On June 6, 2006, investors in Ernst & Young's PICO tax shelter represented by Berger & Montague brought suit against Ernst & Young, among other defendants in a case captioned Abessinio v. Ernst & Young LLP, et al., 106 Civ. 02777 (LTS)...

Ashworth Securities Litigation

Status:Settled
Settlement Amount: $15.25 million
Practice Area(s): Corporate Governance & Shareholder Rights , Securities Litigation
As co-lead counsel representing the New Hampshire Retirement System, Berger & Montague also helped secure substantial corporate governance benefits. A substantial monetary recovery ($15.25 million) was coupled with wide-ranging corporate governance...

Elsie Cohen v. Wal-Mart Stores, Inc., et al.

Status:Pending
Practice Area(s): Corporate Governance & Shareholder Rights
Derivative action for the benefit of nominal defendant Wal-Mart Stores, Inc. against certain current and/or former members of Wal-Mart's board of directors and certain Wal-Mart’s executives for breaches of their fiduciary duties owed to Wal-Mart and its shareholders. Defendants breached their fiduciary duties by causing and/or allowing Wal-Mart and its employees to engage in the systematic practice of bribing foreign officials in Mexico to obtain construction permits in violation of the Foreign Corrupt Practices Act (“FCPA”), and by curtailing and covering up an investigation into the bribery practices.

Force Protection, Inc. Derivative Litigation

Status:Settled
Settlement Amount: $2.25 million
Practice Area(s): Corporate Governance & Shareholder Rights
Berger & Montague represented one lead plaintiff in the action. A settlement has been reached which includes payment to the corporation of $2.25 million and the agreement to overhaul the company's corporate governance at the board and management levels. Additionally, the settlement provides for significant changes to the company's internal controls and cost accounting with a greatly revised insider trading policy.

Fox v. Riverview Realty Partners, f/k/a Prime Group Realty Trust, et al.

Status:Settled
Settlement Amount: $8,250,000
Practice Area(s): Corporate Governance & Shareholder Rights
Patricia Fox ("Plaintiff") brought this lawsuit on behalf of all holders of Prime Group Realty Trust's ("PGRT") Series B Cumulative Redeemable Preferred Stock ("Series B Shares") during the period October 10, 2011 through December 26, 2012 (the "Class...

Ginsburg v. Philadelphia Stock Exchange

Status:Settled
Settlement Amount: $99 million
Practice Area(s): Corporate Governance & Shareholder Rights , Securities Litigation
Berger & Montague represented a former trader who brought a shareholder class action on behalf of minority shareholders of the Philadelphia Stock Exchange alleging breaches of fiduciary duty by directors of the exchange and the exchange itself. A...

Inergy, L.P. Unitholder Litigation

Status:Settled
Practice Area(s): Corporate Governance & Shareholder Rights
Inergy announced in its recent Form 10-K filed November 16, 2011: Following the announcement of the Merger Agreement, two unitholder class action lawsuits were filed in the Court of Chancery of the State of Delaware challenging the proposed merger...

Kahn v. Sakar (Foodarama)

Status:Settled
Settlement Amount: $6.9 million
Practice Area(s): Corporate Governance & Shareholder Rights
Berger & Montague represented plaintiffs in state class action over whether defendants breached fiduciary duties and N.J. Shareholders’ Protection Act in going private transaction and obtained $6.9 million settlement.

KLA Tencor Securities Litigation

Status:Settled
Settlement Amount: $65 million
Practice Area(s): Securities Litigation
The firm, as a member of Plaintiffs' Counsel's Executive Committee, obtained a cash settlement of $65 million in 2009 in an action on behalf of investors against KLA-Tencor and certain of its officers and directors.

Klein v. Broadhead (Florida Power & Light

Status:Settled
Settlement Amount: $22.25 million
Practice Area(s): Corporate Governance & Shareholder Rights
Berger & Montague, as lead counsel, brought this derivative action on behalf of Florida Power & Light (FPL).

Korman v. InKine Pharmaceutrical Co., Inc.

Status:Settled
Settlement Amount: $9 million
Practice Area(s): Corporate Governance & Shareholder Rights
Berger & Montague brought a state stockholder action on behalf of class members who were denied preemptive rights provided under the articles of incorporation in several securities offerings by InKine. As sole counsel, Berger & Montague secured a settlement of $9 million. The settlement provided substantial compensation for the preemptive rights denied to class members.

LNR Property Corp. Shareholders Litigation

Status:Settled
Settlement Amount: $4.9 million
Practice Area(s): Corporate Governance & Shareholder Rights
Berger & Montague represented lead plaintiff as lead counsel in going private litigation and obtained $4.9 million settlement.

Rossdeutscher v. Viacom

Status:Settled
Settlement Amount: $14.2 million
Practice Area(s): Corporate Governance & Shareholder Rights , Securities Litigation
The firm, as lead counsel, obtained a settlement resulting in a fund of $14.25 million for the class. The Complaint alleged that defendant Viacom artificially inflated its stock price to avoid paying the CVR/VCR holders the full amount of consideration to which they were entitled.