Case Updates

KSF’s stockholder derivative action was brought on behalf of Twitter, Inc. (“Twitter”) against several of Twitter’s current and former directors and officers for breach of fiduciary duties. On December 17, 2020, plaintiffs were able to secure a settlement providing that Twitter’s board of directors will pay $38 million in cash to Twitter and $8.75 million in attorney fees and court costs.

The Hon. Thomas P. Barber, United States District Court Judge for the Middle District of Florida, entered an Order preliminarily approving a $2,800,000 class action settlement on behalf of all Persons or entities who purchased or otherwise acquired HIIQ publicly-traded securities between August 4, 2017 and September 11, 2017, inclusive.

The Hon. Arthur J. Tarnow issued an Order granting Plaintiffs’ motion for class certification in its entirety in Dougherty v. Esperion Therapeutics, Inc.

The Honorable R. Steven Whalen certified a class of shareholders in Dougherty v. Esperion Therapeutics, Inc. et al, No. 2:16-cv-10089, a securities fraud class action involving Defendants’ materially misleading statements and omissions concerning a cardiovascular outcomes trial for the Company’s lead drug candidate.

KSF approved as Co-Lead Counsel for the Class in Bellingham v. Qudian Inc. et al. Plaintiffs allege that Defendants made materially false and misleading statements and failed to disclose material information regarding the negative effect developments in China’s regulatory environment had on Qudian’s business and operations.

The 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.

The 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.