SAN FRANCISCO — Orrick, Herrington & Sutcliffe and Latham & Watkins are defending Violin Memory and a host of banks against a wave of securities litigation triggered by the company’s troubled IPO.
Latham partner Patrick Gibbs entered an appearance on Monday for J.P. Morgan Securities, Deutsche Bank Securities, Barclays Capital and Merrill Lynch, Pierce, Fenner & Smith, and other banks that underwrote the flash memory company’s IPO in September. Orrick partners James Kramer and Michael Torpey are representing Violin Memory and its officers.
Meanwhile, plaintiffs firms have begun preening for the lead counsel slot. The Rosen Law Firm, Levi & Korsinsky and Kaplan Fox & Kilsheimer filed motions for appointment as lead counsel on Jan. 27. The same day, Glancy Binkow & Goldberg and Robbins Geller Rudman & Dowd teamed up to be named co-lead counsel.
Late last year, plaintiffs lawyers filed four investor suits as well as a derivative action alleging that the Santa Clara-based company failed to disclose in its registration and prospectus statements how the federal budget crisis had crimped its revenue stream. Plaintiffs also claim Violin concealed its struggles to expand its flash memory card business.
A case management conference is scheduled before U.S. District Judge Yvonne Gonzalez-Rogers on Feb. 10.
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