Not loads of lawyers, just really great ones.

Securities Law and Related Issues

Marks v. CDW Computer Centers, Inc, 122 F.3d 363 (7th Cir. 1997).The Seventh Circuit reversed the trial court’s dismissal of this Rule 10b-5 and breach of fiduciary duty complaint brought by a former shareholder and officer of CDW Computer Centers, Inc. several years after he had been induced to sell his 20% stake back to the company. The Appeals Court first found that our client could still bring suit because he could not have reasonably discovered the alleged fraud of CDW and its CEO at an earlier time. The Court also held that the defendants’ omissions and misstatements to our client were actionable. After the appellate court’s decision, CDW settled shortly before the scheduled trial.

Ward, et al. v. Succession of Richard W. Freeman, 854 F.2d 780 (5th Cir. 1988).Former shareholders alleged that a Louisiana Coca-Cola bottler, its officers, directors and other defendants violated the federal RICO laws, and various other federal and state laws, including the federal securities laws, by utilizing a series of tender offers to eliminate the outside shareholders’ interests in the bottler before the insider shareholders sold it to the Coca-Cola Company at a premium price. The Firm had represented the bottler in its negotiations with the Coca-Cola Company and continued to act as lead counsel for all of the defendants throughout a series of different shareholder lawsuits in New Orleans that were filed after the sale price became public. After a six-week jury trial in the Ward case, defendants were found not liable by the jury as to the RICO claims, although they were found liable on several of the federal and state law claims. On appeal, however, the Firm obtained the reversal of all of the jury verdicts against all of the defendants, as well as defeated the plaintiffs’ RICO cross-appeal.