Recent News

Decision Note: Delaware Chancery Court Finds Financial Advisor Liable for Inadequate Merger Price

3/7/2014 - In a recent noteworthy decision, Vice Chancellor Travis J. Laster of the Delaware Court of Chancery addressed the issue of aiding and abetting liability for investment banks in the context of a merger.  After a four-day trial in a case challenging the Warburg Pincus acquisition of Rural/Metro for inadequate consideration, the Chancery Court found RBC Capital, Rural/Metro’s investment bank, liable for aiding and abetting the company’s directors in breaching their fiduciary duties to Rural/Metro’s shareholders.

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Compensation for Republic Services Directors Limited by Derivative Action Settlement

2/19/2014 - BR&B served as counsel for plaintiff Frank David Seinfeld in Seinfeld v. Slager, a stockholder derivative action claiming that the board of directors of Republic Services, Inc. violated their fiduciary duties in awarding themselves excessive compensation.  After full briefing and argument on the defendants’ motions to dismiss, the Court sustained the complaint, finding that “[i]n reading the Complaint and the Stock Plan, I find no effective limits on the total amount of pay that can be awarded through time-vesting restricted stock units.

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BR&B Submits Supreme Court Amicus Brief on Behalf of Financial Economists Including Nobel Laureate Eugene Fama

2/5/2014 - In November 2013, the United States Supreme Court granted certiorari in Erica P. John Fund v. Halliburton, a securities fraud class action.  The Court agreed to hear Halliburton’s appeal of the district court’s decision to allow the lawsuit to proceed as a class action.  The Supreme Court is being asked to overturn the 1988 landmark decision in Basic, Inc. v.

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Court Grants Final Approval to $17.55 Million Fasteners Antitrust Settlements

1/24/2014 - Judge R. Barclay Surrick of the United States District Court for the Eastern District of Pennsylvania granted plaintiffs’ motion for final approval of settlements with William Prym Inc. and related entities, YKK Corporation and related entities, and Coats Holdings, Ltd.

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BR&B Files Class Action Lawsuit Against Nu Skin Enterprises, Inc.

1/21/2014 - Barrack, Rodos & Bacine announces that it has filed a class action lawsuit in the United States District Court for the Utah, Freedman v. Nu Skin Enterprises, Inc., et al., Case No. 2:14-cv-00033-PMW, on behalf of purchasers of common stock of Nu Skin Enterpises, Inc. (NYSE: NUS) during the period from July 10, 2013 through and including January 14, 2014 (the “Class Period”).

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Director Defendants Settlement in WorldCom Identified as "Turning Point" in Corporate Governance

1/16/2014 - In 2005, a month before the WorldCom case was set to go to trial, BR&B client, the New York State Common Retirement Fund, reached a settlement with ten of the twelve non-management WorldCom board member defendants.  The settlement required these defendants to pay money from their own pockets in settlement of the claims of purchasers of WorldCom bonds.  As noted in a recent book review in The Wall Street Journal, experts in the field of corporate governance view the settlement with the non-management WorldCom board members as a landmark achievement in

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Court Preliminarily Approves $17.55 Million Fasteners Antitrust Litigation Settlement

10/25/2013 - A proposed settlement has been reached with William Prym Inc. and related entities, YKK Corporation and related entities, and Coats & Clark, Inc., and related entities, in the Fasteners Antitrust Litigation. 

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BR&B Appointed to Plaintiffs’ Steering Committee in Lithium Ion Batteries Antitrust Litigation

7/10/2013 - The Honorable Yvonne Gonzales Rogers appointed BR&B partner Jeffrey B. Gittleman to the Plaintiffs’ Steering Committee in In re Lithium Batteries Antitrust Litigation pending in the United States District Court for the Northern District of California.

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BR&B Lawyers Named to 2013 PA Super Lawyers List

5/16/2013 - Thomson Reuters, which publishes the annual Pennsylvania Super Lawyers magazine, has named several Barrack, Rodos & Bacine attorneys to its prestigious Super Lawyers list for 2013. 

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Court Allows Action Against OmniVision Technologies To Proceed

3/29/2013 - The Honorable Ronald M. Whyte of the United States District Court for the Northern District of California has denied the defendants’ motion to dismiss claims in In re Omnivision Technologies, Inc., Securities Litigation, C-11-5235 RMW, alleging violations of section 10(b) of the Securities Exchange Act of 1934. Barrack Rodos & Bacine serves as co-lead counsel in the action, representing an institutional investor lead plaintiff group.

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