On March 23, 2020, the Honorable Lorna G. Schofield certified a class of shareholders of Chicago Bridge & Iron Company N.V. (“CB&I”) in a lawsuit arising from Defendants’ alleged material misrepresentations and omissions regarding the performance of, and accounting relating to, CB&I’s nuclear business.
On September 9, 2019, Hon. Patricia Koch, District Judge appointed KSF as co-lead counsel for the class in Helen Moore, et al v. Macquarie Infrastructure and Real Assets, et al¸ No. 251,417. The class alleges that Defendants breached their fiduciary duties in connection with the sale of Cleco to an investment consortium by, inter alia.
On September 9, 2019, Hon. Travis J. Laster of the Delaware Chancery Court appointed KSF as co-lead counsel for the class in Kenneth Riche, et al v. James C. Pappas, et al. The class alleges that Defendants breached their fiduciary duties in connection with the acquisition of U.S. Geothermal by Ormat Technologies, Inc. by, inter alia.
On January 10, 2020, Hon. Alvin K. Hellerstein, United States District Judge for the Southern District of New York, ordered KSF’s appointment as lead counsel for the class in In re Pareteum Securities Litigation, Case No. 1:19-cv-09767-AKH-GWG (S.D.N.Y.).
On December 16, 2019, Hon. William J. Martini, United States District Judge for the District of New Jersey, ordered KSF’s appointment as lead counsel for the class in Kanefsky v. Honeywell International Inc. et al.,
On September 23, 2019, the United States District Court for the Southern District of California entered an order denying in large part defendants’ motion to dismiss. The Hon. Janis L. Sammartino found that Lead Plaintiff’s allegations gave rise to a strong inference of scienter with respect to materially misleading statements and omissions. This successful result was obtained after KSF prevailed in the Ninth Circuit Court of Appeals and in the United States Supreme Court.
The Hon. Elizabeth A. Kovachevich denied Defendant Health Insurance Innovations’ motion to dismiss, in part. Judge Kovachevich found Lead Plaintiff’s allegations that the company’s 2017 10-Q Second Quarter Report was misleading because it (i) conveyed the false impression that HII would not need a third party administrator (“TPA”) license to conduct its third-party insurance business in its home state of Florida and, (ii) misrepresented the reasons that the Florida Office of Insurance Regulation denied its application for a TPA license well plead.
On January 31, 2019, Defendants filed a Petition for a Writ of Certiorari with the United States Supreme Court captioned Hagan et al. v. Khoja, Case No. 18-1010. The Petition for Certiorari appealed, in part, KSF’s victory in the Ninth Circuit in Khoja v. Orexigen Therapeutics, Inc., 899 F.3d 988 (9th Cir. 2018). KSF successfully defended the Ninth Circuit’s ruling before the United States Supreme Court when it denied Defendants’ Petition for a Writ of Certiorari on May 20, 2019.
We are pleased to to be included in the list of top 20 settlements obtained in the United States in the year 2017.
On December 14, 2018, Vice Chancellor Joseph R. Slights III of the Delaware Chancery Court rejected a motion to dismiss a stockholder derivative suit alleging insider trading and breach of fiduciary duty claims against executive officers and directors of Fitbit, Inc.