Our Experience in Securities Litigation
Significant Recoveries
American Express Financial Advisors
On July 13, 2007, U.S. District Judge Deborah A. Batts in the Southern District of New York granted final approval to a $100 million settlement of the securities class action and related claims against American Express Financial Advisors.
Girard Gibbs represents Jefferson Insurance Company and 24 other related institutional investors in a private class action pending in the United States District Court for the Southern District of New York against the former officers and directors of Winstar Communications, Inc. and Winstar's former auditors, Grant Thornton LLP, arising out of Winstar's bankruptcy.
Girard Gibbs served as co-counsel representing the California State Teachers' Retirement System (CalSTRS), the nation's third-largest public pension fund, in a lawsuit arising out of the financial collapse of Qwest Communications International, Inc. The case, which is pending in San Francisco Superior Court, alleges that CalSTRS lost approximately $150 million as a result of defendants' violations of state and federal securities laws.
Girard Gibbs was co-lead counsel in this securities class action brought on behalf of investors against a real estate investment trust and its officers and directors, following defendants' alleged false statements made in the context of a merger between Corrections Corporation of America and CCA Prison Realty Trust and subsequent operation of the merged entity.
Girard Gibbs, acting as co-lead counsel on behalf of lead plaintiff the Kansas Public Employees' Retirement System, obtained a settlement of $84.85 million with i2 Technologies and present and former executives Sanjiv S. Sidhu, Gregory A. Brady and William M. Beecher. In October 2004, the United States District Court for the Northern District of Texas granted final approval to the settlement which also required i2 to adopt a series of corporate-governance reforms.
In this lawsuit, minority shareholders of Digex, Inc. sued to enjoin MCI WorldCom's planned acquisition of a controlling interest in Digex through a merger with Intermedia Communications, Inc., the majority shareholder.