Recent Cases

Active Cases - Derivative Litigation

· In re: Fannie Mae Derivative Litigation, Consolidated Civil Action 04-1783 (RJL). The firm was appointed Co-Lead Counsel in this complex shareholder derivative action. See Horns ex rel. v. Raines, 227 F.R.D. 1, 3-4 (D.D.C. 2005) (appointing firm co-lead counsel in and noting the experience and success of the firm in this type litigation). This consolidate shareholder derivative litigation is brought derivatively on behalf of Fannie Mae against numerous of its current and/or former officers and directors alleging breach of fiduciary duties and other violations of law in connection with the Company's accounting manipulations leading to one of the largest financial restatements in U.S. history.

· Kandy Kendall, on Behalf of Guidant Corporation v. James M. Cornelius, et al., Cause No. 49D05-0306-CT-1177(Indiana Sup. Ct.) (J. Miller). The firm is currently serving as Plaintiffs' Counsel in this derivative action brought on behalf of Guidant Corporation ("Guidant") against its Board of Directors. The case arises out of the defendants causing Guidant to enter into a plea agreement with the United States for violations of FDA laws and regulations and pay a fine of $92.4 representing the largest settlement ever paid by a defendant for failure to report medical malfunction in a medical device to the FDA. The Plaintiff seeking damages on behalf of Guidant and asserts claims for Breach of Fiduciary Duty, Abuse of Control, Gross Mismanagement and Corporate Waste.

· In re Biopure Corporation Derivative Litigation, Master Docket No. 1:04-cv-10177-NG (D. Mass) (J. Gertner). The firm was appointed Co-Lead Counsel in this consolidated derivative action brought on behalf of Biopure Corporation ("Biopure" or the "Company") against its Board of Directors and certain officers seeking damages on behalf of the Company for the defendants breaches of fiduciary duties and other violations of law arising out defendants' issuance of false and misleading financial statements and press releases concerning the misrepresentation of the status of approval of the Company's primary pharmaceutical products before the FDA. The Court recently denied defendants' motion to dismiss. See In re Biopure Corporation Derivative Litig., 424 F.Supp.2d 305 (D. Mass. 2006).

· In Re Juniper Networks, Inc. Derivative Litigation, Lead Case No. 1:06CV064294 (Sup. Ct. Santa Clara, CA). The firm is serving as Co-Lead Counsel in this shareholder derivative action brought on behalf of Juniper Networks, Inc. against its Board of Directors and certain current and past officers alleging breaches of fiduciary duty and other violations of law arising from the backdating of stock options.