Alamosa Holdings, Inc. Securities Litigation
We obtained a dismissal with prejudice of consolidated putative securities class actions brought against a company that provides wireless mobile communications network services, and several of its officers and directors, that alleged securities fraud in connection with revisions to the company’s projections of subscriber growth. In re Alamosa Holdings, Inc. Sec. Litig.,
382 F. Supp. 2d 832 (N.D. Tex. 2005).
As a result of the dismissal of the securities class action, the plaintiffs in a related shareholder derivative case voluntarily dismissed their claims.
Antitrust Counseling in Proposed Telecommunications Acquisition
Represented AT&T before the DOJ and FCC on antitrust matters related to proposed acquisition of T-Mobile USA, including pre-merger integration counseling and planning.
Bell v. American Traffic Solutions, Inc., No. 09-10722, 2010 U.S. App. LEXIS 6001 (5th Cir. Mar. 23, 2010)
Defended red-light camera company in federal class action challenging failure to obtain Texas private investigator license, alleging negligence per se, and seeking monetary and injunctive relief. Obtained dismissal of the putative class action claim brought against the installer and operator of red light cameras based on the plaintiffs' lack of standing. Haynes and Boone's appellate team later persuaded the Fifth Circuit to affirm the dismissal.
Cellstar Corp. Derivative Litigation
We defended a shareholder derivative suit against officers and directors of a company alleging claims for breach of fiduciary duties, waste and violations of Delaware statutes regarding the proposed divestiture of a significant portion of the company’s operations in Asia.
Citadel Security Software Securities Litigation
We defended a computer and privacy software company, its chief executive officer and its chief financial officer in a putative class action challenging the company’s revenue projections and deferred revenue accounting. We successfully negotiated a global settlement of this putative class action along with parallel federal and state derivative suits.
FirstPlus Securities Litigation
Defended a specialized finance company, its chief executive officer, president and its chief financial officer alleging misrepresentations in connection with accounting for securities transactions. We obtained dismissal of the claims against the chief financial officer, and successfully negotiated a settlement of the claims against the remaining defendants.
Flowserve Corporation Derivative Litigation
Obtained dismissal of shareholder derivative suits in New York and Texas alleging that directors and officers breached their fiduciary duties in connection with accounting restatement, merger integration issues, and missed earnings projections.
Flowserve Corporation Securities Litigation
Defending a worldwide manufacturer of pumps, valves and seals for flow control systems in a class action alleging securities fraud arising from accounting restatement, merger integration issues, and missed earnings projections. Obtained an order denying class certification and granting complete summary judgment in favor of the defendants, which was remanded for further proceedings after appeal.
Frozen Food Express Special Litigation Committee
Represented independent directors of Frozen Food Express Industries, Inc. in multiple suits filed in state and federal court arising from the company’s announced acquisition by Duff Brothers Capital. Argued against and defeated shareholder plaintiffs’ motion for preliminary injunction to halt the transaction, and obtained subsequent voluntary dismissal of all actions.
Salomon Smith Barney, Inc. Litigation
We successfully opposed class certification in a federal suit brought against a major national brokerage firm by a customer alleging breach of contract in connection with alleged inaccuracies in the accounting for certain transactions in the customer’s account. Kase v. Salomon Smith Barney, Inc.,
218 F.R.D. 149 (S.D. Tex. 2003).
Triton Energy Corp. Securities Litigation
Defended an oil and gas company in a putative class action alleging misrepresentations and omissions regarding the company's oil and gas production prospects, and the status of a bidding process for the company's assets.
Triton Energy Corp. Securities Litigation - Texas State Court
Obtained dismissal of claims by certain shareholders filed in Texas state court against an oil and gas company and two of its officers alleging misrepresentations in connection with a bidding process for the company's assets and an announcement of certain accounting write-downs, Sherman v. Triton Energy Corp
., 124 S.W.3d 272 (Tex. App. - Dallas, 2003), and subsequently obtained summary judgment against the remaining plaintiff shareholders.
WebLink Wireless Securities Litigation
We obtained a dismissal of a federal suit against an individual officer/director arising out of alleged misrepresentations in a press release containing optimistic statements about possible sources of funding for the company. Berger v. Beletic,
248 F. Supp. 2d 597 (N.D. Tex. 2003).