Recent News

Court Preliminarily Approves Additional WorldCom Settlement

10/2/2012 - U.S. District Judge Denise Cote has preliminarily approved an additional $38 million settlement in In re WorldCom, Inc. Securities Litigation. The WorldCom class action, in which BR&B served as co-lead counsel for Lead Plaintiff the Comptroller of the State of New York State as Trustee for the New York State Common Retirement Fund, was resolved by settlements in 2004 and 2005 with the various defendants in an aggregate settlement amount of approximately $6.15 billion.

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District Court Allows Claims Against Bank of America to Proceed

7/11/2012 - U.S. District Judge William H. Pauley, III, denied Bank of America Corporation’s motion to dismiss the claims in Pennsylvania Public School Employees’ Retirement System v. Bank of America Corporation that it had violated section 10(b) of the Securities Exchange Act of 1934. The court held that the consolidated complaint filed by the lead plaintiff, BR&B client Pennsylvania Public School Employees’ Retirement System, properly alleges that Bank of America purposefully concealed its reliance on Mortgage Electronic Registration Systems, Inc.

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Court Gives Green Light to Allergan Derivative Case

6/11/2012 - Vice Chancellor Laster of the Delaware Chancery Court gave the green light to a derivative action against the members of Allergan Inc.’s Board of Directors. Barrack, Rodos & Bacine, representing co-lead plaintiff Louisiana Municipal Police Employees’ Retirement System, serves as co-lead counsel in the action. BR&B filed this action on behalf of LAMPERS, an Allergan shareholder, after news reports that Allergan had paid a $600 million fine for off-label marketing and promotion of one of its primary products, BOTOX®Therapeutic.

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BR&B Clients Appointed Lead Plaintiffs in Green Mountain Litigation

4/27/2012 - The Honorable William K. Sessions, III has appointed a global institutional investor group, which includes BR&B clients the Mississippi Public Employees’ Retirement System and the Employees’ Retirement System of the Government of the Virgin Islands, as lead plaintiff and has appointed BR&B as co-lead counsel in Louisiana Municipal Police Employees’ Retirement System v. Green Mountain Coffee Roasters, Inc., et al., case no. 2:11-cv-289, pending in the United States District Court for the District of Vermont.

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Court Grants Final Approval of Agreement Resolving Apollo Litigation

4/20/2012 - Barrack Rodos & Bacine announces that on April 20, 2012, Judge James A. Teilborg of the United States District Court for the District of Arizona granted final approval of the $145 million agreement resolving the In re Apollo Group, Inc., Securities Litigation, noting that Class Counsel had obtained “an exceptional result for the class.” The court also commented that “Class Counsel have demonstrated a high degree of competence in the eight years of litigation of this case.”

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BR&B Clients Appointed Lead Plaintiffs in Omnivision Litigation

2/21/2012 - The Honorable Ronald M. Whyte has appointed an institutional investor group including BR&B clients as lead plaintiff and has appointed BR&B as co-lead counsel in In re Omnivision Technologies, Inc. Litigation, Civil Action No. 5:11-cv-05235-RMW, pending in the United States District Court for the Northern District of California.

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BR&B Announces Final Approval of MF Global Settlement

11/18/2011 - Barrack, Rodos & Bacine announces that on November 18, 2011, Judge Victor Marrero of the United States District Court for the Southern District of New York granted final approval of the $90 million settlement of Rubin v. MF Global, Ltd.

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PSERS Appointed Lead Plaintiff in Bank of America Litigation

6/20/2011 - The Honorable William H. Pauley III has appointed the Pennsylvania Public School Employees’ Retirement System as lead plaintiff and Barrack, Rodos & Bacine as lead counsel in Pennsylvania Public School Employees’ Retirement System v. Bank of America Corp., et al., Consolidated Civil Action No.

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AIG Update: BR&B Files Lead Plaintiff's Class Motion

4/11/2011 - On behalf of the State of Michigan Retirement Systems (“SMRS”), the lead plaintiff in the American International Group, Inc. (AIG) 2008 Securities Litigation, Barrack, Rodos & Bacine filed a motion for class certification, requesting that the court certify a class consisting of all persons or entities, other than defendants and their affiliates, who purchased American International Group, Inc. common stock, preferred stock and other securities that traded on a U.S.

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BR&B Files Lawsuit for GSI Commerce Shareholders

3/29/2011 - On March 29, 2011, Barrack, Rodos & Bacine filed a shareholder action for the Southeastern Pennsylvania Transportation Authority on behalf of the public stockholders of GSI Commerce, Inc. (“GSIC”). The case names as defendants each member of GSIC’s board of directors as well as eBay Inc. (“eBay”) in connection with eBay’s proposed acquisition of GSIC through a merger.

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