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September 01, 2009 |

Broadcom Stock Options Backdating Claims Settled for $118 Million

Insurance companies for Broadcom have agreed to pay $118 million to settle allegations of stock options backdating, in the second-largest such deal in a derivative action to date, according to plaintiffs counsel. The proposed deal involves several current and former officers and directors of Broadcom, including former general counsel David Dull. The defendants have denied wrongdoing under the proposed settlement, which, if approved, would stay shareholder claims in a related class action against Broadcom.
4 minute read
October 18, 2010 |

Former Countrywide Executives Settle SEC Charges as Trial Nears

Just days before trial was scheduled to open, Angelo Mozilo, the former chief executive officer and chairman of Countrywide Financial, once the nation's largest mortgage lender, has agreed to pay $67.5 million to settle claims by the SEC that he misled shareholders about the risks associated with his company's loans. Also settling were Countrywide's former president, David Sambol, who will pay more than $5.5 million, and Countrywide's former chief financial officer, Eric Sieracki, who will pay $130,000.
4 minute read
January 27, 2011 |

Investors' Lawsuit Proceeds in Aftermath of Bear Stearns Collapse

A federal judge in Manhattan has given the go-ahead to proceed for one of the largest securities class action suits filed by investors in the wake of the credit crisis. In a 398-page opinion made public Friday, Southern District Judge Robert Sweet denied motions to dismiss the action against Bear Stearns, its outside auditor Deloitte & Touche, and seven individual defendants.
3 minute read
September 02, 2009 |

Broadcom Settles Shareholder Suit Over Stock Option Backdating for $118M

Broadcom Corp. has agreed to pay $118 million to settle allegations of stock options backdating, in one of the largest such deals in a derivative action to date.
4 minute read
May 04, 2011 |

Pileggi Leaves Fox Rothschild to Join Eckert Seamans

Francis Pileggi, a well-known Delaware litigator, has joined Eckert Seamans Cherin & Mellott, where he will run its Wilmington office. Pileggi joins the firm from Fox Rothschild, where he had been for 10 years and served as a partner.
4 minute read
June 09, 2010 |

Judge Delays Appointing Lead Counsel in Toyota Shareholder Litigation

A federal judge has delayed appointing the lead plaintiffs attorneys in the shareholder litigation against Toyota until the Supreme Court decides whether foreign purchasers of a company's U.S. stock have standing to sue in the United States. U.S. District Judge Dale Fischer agreed Monday to consolidate seven pending class actions on behalf of Toyota shareholders whose holdings declined by tens of millions of dollars after the company announced a series of recalls associated with sudden unintended acceleration.
3 minute read
December 18, 2009 |

What About Broadcom Civil Actions?

After Judge Cormac Carney dismissed criminal charges this week, the future of shareholder suits is uncertain.
4 minute read
March 29, 2010 |

Border Battle

The name of the latest legal nemesis that keeps lawyers for companies ranging from Toyota to Vivendi up at night is "foreign-cubed."
7 minute read
May 01, 2009 |

On the Job: Reverse Commute

3 minute read
September 01, 2011 |

Firm Seeks to Move 'Copycat' N.Y. Cases to West Coast Court

Hagens Berman has moved to intervene in at least five "copycat" lawsuits in federal court in New York. The firm said it hopes to consolidate all the litigation in the Northern District of California, where it is pursuing a price fixing case against electronic book publishers and retailers.
3 minute read

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