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Public and private companies, boards of directors, committees of boards, individual directors, and individual officers regularly turn to Bracewell to defend them in all aspects of securities litigation. Our practice includes defending securities fraud class actions, fiduciary duty claims, shareholder derivative actions and M&A, proxy and corporate governance litigation. Bracewell’s securities litigators have represented clients in numerous federal and state courts across the country, including Delaware. Our securities litigators conduct audit committee and special litigation committee investigations in response to shareholder, governmental and internal demands. Our teams are prepared to take our cases to trial, recognizing in reality that many cases in the securities arena are dismissed at the pleading stage or otherwise are resolved prior to trial. Lawsuits, claims and investigations frequently run on a parallel basis, and our team is adept at managing all aspects of these actions to optimize efficiency and results.

Experience

Recent Notable Matters

Pier 1 Imports, Inc. — defended the company and its former CEO and CFO in a putative class action asserting claims of securities fraud. The firm obtained dismissal of all claims in 2016, and the claims were dismissed again in 2018 with prejudice.  (Town of Davie Police Pension Plan v. Pier 1 Imports, Inc. et al.)

The Bank of New York Mellon Trust Company, N. A. — represented two oil and gas royalty trusts and its trustee in a class action securities case filed on behalf of all unitholders of the two trusts alleging material misrepresentations and omissions, in violation of federal securities laws, by 19 corporate and individual defendants in connection with the marketing and sale of trust units (Duane & Virginia Lanier Trust v. SandRidge Energy, Inc., et al.)

Board of Directors of Anadarko Petroleum Corporation — represented the board in a shareholder derivative case arising out of the Macondo well-explosion in the Gulf of Mexico (Williams v. Hackett, et al., Cause No. 2013-31066, in the District Court of Harris County, Texas, 215th Judicial District)

Lufkin Industries Inc. and its Board of Directors — represented the company and its board in a shareholder derivative case arising out of a proposed merger transaction (Inspired Investors v. Glick, et al., Cause No. CV-02395-13-06, in the District Court of Angelina County, Texas, 159th Judicial District)

MetroCorp Bancshares, Inc. and its Board of Directors and Officers — represented the company and its board in a shareholder class action arising out of a proposed merger transaction (In re: MetroCorp Bancshares, Inc. Shareholders Litigation; No. 4:13-cv-03198, in the United States District Court for the Southern District of Texas, Houston Division)

Southern Copper Corporation — defended company and certain members of its board of directors in shareholder derivative class action complaint asserting alleged breach of contract and alleged breach of fiduciary duties

Private equity funds managed by Centrecourt Asset Management LLC — represented two private equity funds, as plaintiffs, in a shareholder and creditor derivative action against directors, outside counsel and affiliates for breach of fiduciary duty, corporate waste and tortious conduct (CAMOFI Master LDC, et al., v. Jerrold Pressman, et al.)

The Bank of New York Mellon Trust Company, N. A. — represented BNY Trust Company and its parent, The Bank of New York Mellon Corp., in a lawsuit in Houston state court brought by a trust’s successor trustee, asserting a $20 million claim for breach of fiduciary duties owed to trust unit holders and to the trust

Deutsche Bank AG  — obtained summary judgment and dismissal of all claims arising from plaintiffs’ unsuccessful participation in tax strategy (McMahan v. Deutsche Bank AG, et al., 2017 WL 3872477, N.D. Ill. 2017)

The Bank of New York Mellon Trust Company, N. A. — obtained the dismissal of a $10 million claim asserted by trust unit holders against BNY Trust Company, in its capacity as trustee, in a class action securities case in Colorado federal court

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