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Litigation

Litigation

  • Sharp Corporation and Sharp Electronics Corporation Obtain Dismissal of
    Antitrust Claims

    AntitrustLitigation

    Paul, Weiss client Sharp Corporation and Sharp Electronics Corporation scored an enormous victory when Judge Gottschall of the United States District Court for the Northern District of Illinois dismissed antitrust claims by Motorola Mobility Inc. covering nearly $6 billion in commerce, and leaving only $61 million at issue. Because Motorola has already collected over $150 million in settlements from other defendants, any damages based on that commerce will be more than offset by those settlements. The effect of the order is to have dismissed approximately $3 billion in treble damage claims.

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  • Fidelity National Financial Receives
    FTC Clearance for Acquisition of
    Lender Processing Services

    AntitrustLitigation

    Paul, Weiss client Fidelity National Financial, Inc., a leading provider of title insurance and transaction services to the real estate and mortgage industries, achieved a significant milestone when the Federal Trade Commission voted 3-1 to accept a proposed consent order clearing Fidelity's acquisition, along with affiliates of Thomas H. Lee Partners, L.P., of Lender Processing Services, Inc.

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  • Paul, Weiss Achieves Trial Victory for Aurora Commercial Corp.

    Financial InstitutionsLitigation

    Paul, Weiss achieved a major victory for our client Aurora Commercial Corp., formerly known as Aurora Bank, FSB (Aurora), when the District Court of Denver County, Colorado rejected all of the claims of plaintiff Allonhill, LLC (Allonhill), and ruled in Aurora's favor on its breach of contract and fraud counterclaims against Allonhill, awarding Aurora approximately $26 million, plus interest.

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  • Nielsen Wins Affirmance of Dismissal
    of Case Brought by New Delhi Television

    AntitrustLitigation

    Paul, Weiss client The Nielsen Company achieved a victory when the Appellate Division, First Department, unanimously affirmed an order of Supreme Court Justice O. Peter Sherwood granting Nielsen's motion to dismiss in its entirety a case brought by New Delhi Television. New Delhi Television (NDTV), an Indian broadcasting company, alleged that TAM, an Indian TV ratings company partially owned by Nielsen, misused Nielsen's television ratings methodologies to create corrupt and inaccurate TV ratings in India. NDTV alleged these ratings understated its viewers and thus reduced its advertising revenues.

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  • $805 Million "Holder" Action
    Against Citigroup Dismissed

    Financial InstitutionsSecurities LitigationLitigation

    Paul, Weiss secured the dismissal with prejudice of an action in which entities controlled by a wealthy investor and his spouse sought to recover $805 million in alleged losses on their investments in Citigroup common stock. According to the complaint, plaintiffs developed a plan to sell their Citigroup shares in May 2007, when the actual value of the stock was allegedly $51.59 per share. Plaintiffs, however, allegedly decided not to proceed with the sale based on supposed misrepresentations that primarily concerned the value of Citigroup assets related to subprime mortgages. Plaintiffs asserted that they in fact sold their shares in 2009 at a price of $3.09 per share.

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  • Summary Judgment Granted
    in Class Action Against MTA

    Litigation

    Paul, Weiss obtained a significant victory on behalf of our client the Metropolitan Transportation Authority. Plaintiffs brought a class action in the Southern District of New York challenging toll discounts provided to residents of Staten Island for crossings over the Verrazano-Narrows Bridge and to residents of the Rockaways and Broad Channel for crossings over the Cross Bay and Marine Parkway Bridges. Plaintiffs charged that these residence-based toll discounts violate the Commerce Clause and plaintiffs' right to travel under the United States Constitution. Judge Engelmayer found the toll discounts at issue to be constitutional and granted summary judgment dismissing all claims.

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  • Hailo Secures Major Victory Enabling
    E-Hail Application in New York City

    Litigation

    In a major victory for Paul, Weiss client Hailo Network USA, Inc., the world's largest "e-hail" application provider, the First Department of the New York Appellate Division vacated a temporary restraining order that halted implementation of the New York City Taxi and Limousine Commission's e-hail pilot program. The pilot program expressly permits the use of e-hail applications, which allow passengers to seamlessly connect with available yellow cabs through smartphone software. Citing violations of the New York Administrative Code and the City Charter, a coalition of livery car industry members brought an Article 78 action to challenge the pilot as exceeding the City's authority.

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  • All Claims Against The Bank
    of New York Mellon Dismissed

    Securities LitigationFinancial Institutions

    The firm obtained a substantial victory on behalf of Paul, Weiss client The Bank of New York Mellon, when the New York Appellate Division, First Department, dismissed all of the remaining claims asserted against BNYM in its capacity as indenture trustee for certain notes issued by the predecessor to LyondellBasell, the world's third largest chemical company. The noteholders, who sought approximately $1 billion in purported damages, claimed that BNYM had violated its duties as indenture trustee by allowing LyondellBasell to issue, in connection with Basell's acquisition of Lyondell, an additional $20 billion in debt senior to the notes. 

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  • Elliott Management and
    Hess Settle Proxy Battle

    Mergers & AcquisitionsLitigationCorporate GovernanceEmployee BenefitsTax

    As reported by The New York Times "DealBook" and multiple other media sources, Paul, Weiss client Elliott Management reached a successful resolution of its proxy contest with Hess Corporation. Hess agreed to give Elliott, which holds a 4.5 percent stake in the company, three board seats (including representation on board committees) in exchange for Elliott's support of Hess's five director nominees. Nine new independent directors out of a total of 14 directors will join the Hess board.

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  • Bank of America Wins Motions
    to Dismiss Derivative Actions

    Financial InstitutionsSecurities LitigationLitigation

    Paul, Weiss client Bank of America Corporation (BofA) and several of its directors and officers achieved a victory in the United States District Court, Southern District of New York. Judge P. Kevin Castel granted the defendants' motions to dismiss two derivative actions alleging, among other things, that BofA's directors and officers breached their fiduciary duties and were unjustly enriched in connection with BofA's 2008 acquisitions of Countrywide Financial Corporation and Merrill Lynch & Co.

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Litigation Partners

Paul, Weiss, Rifkind, Wharton & Garrison LLP