ABBREVIATED

FIRM BIOGRAPHY

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Barrack, Rodos & Bacine (“BR&B”) has been extensively involved for more than forty

years in complex class action and derivative litigation, participating in hundreds of such cases 

and recovering over $15 billion dollars for class members, including several such actions that 

alone have secured recoveries in excess of $1 billion. The Firm has concentrated this complex 

practice in securities, shareholder rights, antitrust, and consumer class actions. The Firm has 

had significant leadership positions in these litigations, having been appointed by courts as lead 

counsel in numerous class actions throughout the United States. 

Recoveries Achieved in Antitrust Cases

The Firm has achieved significant recoveries on behalf of class members in consumer 

cases, including the following:

 “Senior Annuity” cases in which BR&B served as a co-lead counsel or participated in 

the prosecution group, which achieved settlements valued in the aggregate between $552 

million and $1.273 billion, after asserting claims against insurance companies under 

consumer protection and elder abuse statutes arising from sales and marketing practices and 

the Racketeer Influenced and Corrupt Organizations Act, including the following:

• Negrete. et al. v. Allianz Life Insurance Company of North America, Case No. 

05-cv-06838-CAS-MAN (C.D. Cal.), resulted in a claims-made settlement valued between $251 

million and $971 million;

• In re American Equity Annuity Practices and Sales Litigation, Case No. 2:05-

cv-06735-CAS-MAN (C.D. Cal.), resulted in a settlement valued at approximately $129 million;

• Rand v. American National Insurance Co., Case No. 3:09-cv-0639-WDB 

(N.D. Cal.), resulted in a settlement valued at more than $9 million;

• Negrete, et al. v. Fidelity and Guaranty Life Insurance Company, Case 

No. 2:05-cv-06837-CAS-MAN (C.D. Cal), resulted in a settlement valued at approximately 

$52.7 million;

• Meadows v. Jackson National Life Insurance Co., Case No. 4:12-cv-1380-

CW (N.D. Cal), resulted in a settlement valued at more than $11.2 million;

• Midland National Life Insurance Co Annuity Sales Practices Litigation, Case 

No. 2:07-ml-01825-CAS-MAN (C.D. Cal.), resulted in a settlement valued at $79.5 million; and

• In re National Western Life Insurance Deferred Annuities Litigation, Case No. 

05-cv-1018-AJB (WVG), resulted in a settlement valued at more than $21 million.

 Rieff v. Evans (Allied Mutual Insurance Company Demutualization Litigation), Civil 

Action No. CE 35780 (Polk Cty., Iowa, District Ct.). BR&B, as co-lead counsel for a class of 

individual mutual insurance company policyholders (as owners of the mutual, similar to 

shareholder-owners of a stock company), brought an action against management for, inter alia, 

conversion of the value of their ownership interests in the mutual under a theory of de facto 

demutualization. The Iowa Supreme Court upheld the plaintiffs’ theory in Rieff v. Evans ̧ 630 

N.W.2d 278 (Iowa 2001), and the case was subsequently resolved for approximately $130 

million.

Significant Consumer Cases

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 Gutierrez v. Charles J. Givens Organization, et al., Case No. 667169 (San Diego 

Cty., California, Superior Court). BR&B, on behalf of the plaintiff and similarly situated class 

members, achieved a jury verdict in excess of $14 million for the benefit if the plaintiff 

consumer class. 

 In Feller, et al. v. Transamerica Life Insurance Company, Case No. 16-cv-01378 

CAS (AJWx), in the Central District of California, which was ultimately settled for $200 million, 

BR&B served as interim executive committee counsel. 

 BR&B is currently serving in a leadership position in consumer class actions, 

including In re: Lincoln National COI Litigation, Case No. 16-cv-06605-GJP (E.D. Pa.) (Chair of 

Plaintiffs’ Steering Committee), and In re: Lincoln National 2017 COI Rate Litigation, Case No. 

2:17-cv-04150-GJP (E.D. Pa.) (Co-Chair of Plaintiffs’ Steering Committee). 

 In 2017, the Attorney General of the State of New Mexico appointed Stephen R. 

Basser, Jeffrey A. Barrack, and Samuel M. Ward of Barrack, Rodos & Bacine as Special 

Assistant Attorneys General for the purpose of prosecuting an action on behalf of New Mexico 

consumers against Vivint Solar, Inc., and other defendants for violations of New Mexico 

Consumer law. The action, State of New Mexico, ex. Rel., Hector H. Balderas, Attorney General 

of New Mexico v. Vivint Solar Developer, LLC, Case No. D-202-CV-2018-01936, was settled in 

2020 in exchange for a substantial cash payment and changes to Vivint’s marketing and training 

policies.

 Serving as Interim Co-Lead Counsel in John Doe, et al. v. Cedars-Sinai Health 

System, et al., privacy/pixel related lawsuit, Los Angeles Superior Court, Case No. 

22STCV41085.

 Serving via Barrack partner Stephen R. Basser as interim Executive Committee chair 

in In re Forefront Data Breach Litigation, Master File No. 1:21-cv-00887-LA, in the Eastern 

District of Wisconsin.

 Serving via Barrack partner Stephen R. Basser as interim Executive Committee 

member in In re Lincare Holdings Data Breach Litig., Case No. 8:22-cv-01472 (M.D. Fla.).

 Serving via Barrack partner Stephen R. Basser as interim Executive Committee 

member in In re Shields Health Group Data Breach Litig., Case No. 1:22-cv-10901 (D. Mass.).

 Serving via Barrack partner Stephen R. Basser as Interim Executive Committee 

member in In re Apria Healthcare Data Breach Litigation, Master File No. 1:23-cv-01003- JPHKMB (N.D. Ind.). 

 Serving via Barrack partner Stephen R. Basser as a member of Plaintiffs’ Steering 

Committee in In re East Palestine Derailment Litig., Case No. 4:23-cv-00242 (N.D. Ohio).

 Served via Barrack partner Stephen R. Basser as Interim Executive Committee 

Counsel in In re Toyota Hybrid Brake Litigation, Case No. 4:20-CV-00127-ALM, in the Eastern 

District of Texas.

 Served via Barrack partner Stephen R. Basser as Interim Executive Committee 

Counsel in Lane, et al. v. Nissan of Norther America, Inc., (In re Nissan CVT Litigation) CV00150, in the Middle District of Tennessee, which settled in 2020 for a valuation of benefits 

conferred on class members exceeding $300 million. 

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 Served as Interim Executive Counsel via Barrack partner Stephen R. Basser in In re 

General Mills Glyphosate Litigation, Case No. 0:16:-CV-2869, in the District of Minnesota.

 Currently serving as Interim Executive Committee Counsel in In re Evenflo Co., Inc. 

Marketing, Sales Practices and Products Liability Litigation, Civil Action No. 1:20md-02938-DJC 

in the District of Massachusetts.

 Hernandez, et al. v. Google, Inc., et al., Case No. 1-15-CV-280601 (Santa Clara 

Cty., California, Superior Ct.), before the Honorable Brian C. Walsh. BR&B, on behalf of the 

plaintiffs and similarly situated purchasers of gift cards issued by Google, Inc. for use in its 

Google Play Store, prosecuted this action to require defendants to abide by California law with 

regard to gift cards with less than a $10.00 balance on them. Pursuant to the settlement 

reached in the case, which is pending final approval, Google agreed to comply with California 

law, which requires sellers to refund gift card balances of less than $10.00 upon request. In 

addition, Google agreed to (1) provide refunds to all Google Play users who had previously 

requested, but were denied, such refunds; (2) provide additional training regarding the refund 

requirements to its customer service representatives; and (3) provide notice of the availability of 

refunds on its website. Notably, after the filing of the lawsuit, Google revised its payment 

system, allowing gift card users to combine their gift cards with other forms of payment. The 

changes adopted by Google pursuant to the settlement are ongoing, providing benefit to millions 

of Google Play gift card users.

The firm has been appointed lead counsel or to the leadership group in many antitrust 

class action cases, including:

In re Lithium Ion Batteries Antitrust Litigation, MDL Docket No. 2420, the Honorable 

Yvonne Gonzalez Rogers in the Northern District of California;

In re Fasteners Antitrust Litigation, MDL Docket No. 1912, the Honorable R. Barclay 

Surrick in the Eastern District of Pennsylvania;

In re Publication Paper Antitrust Litigation, Docket No. 3:04 MDL 1631 (SRU), the 

Honorable Stefan R. Underhill in the District of Connecticut;

In re Automotive Paint Refinishing Antitrust Litigation, MDL No. 1426, the Honorable 

R. Barclay Surrick in the Eastern District of Pennsylvania; 

Brookshire Brothers, Ltd., et al. v. Chiquita Brands International, Inc., et al., Lead 

Case No. 05-21962-Cooke/Brown, the Honorable Marcia G. Cooke in the Southern District 

of Florida, Miami Division; 

Thomas & Thomas Rodmakers, Inc. v. Newport Adhesives and Composites, Inc., et 

al. (Carbon Fiber Antitrust Litigation), No. CV-99-07796-GHK(Ctx), the Honorable Florence 

Marie Cooper in the Central District of California, Western Division;

Significant Antitrust Cases

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In re Graphite Electrodes Antitrust Litigation, Master File No. 97-CV-4182(CRW), the 

Honorable Charles R. Weiner in the Eastern District of Pennsylvania;

In re Flat Glass Antitrust Litigation, Master Docket Misc. No. 970550, MDL No. 1200, 

the Honorable Donald E. Ziegler in the Western District of Pennsylvania;

In re New Jersey Title Insurance Litigation, No. 2:08-cv-01425-GEB, the Honorable 

Garrett E. Brown in the District of New Jersey;

In re Bath and Kitchen Fixtures Antitrust Litigation, Docket No. 05-cv-00510-MAM, 

the Honorable Mary A. McLaughlin in the Eastern District of Pennsylvania;

In re Sorbates Antitrust Litigation, Master File No. C 98-4886 MCC, the Honorable 

William H. Orrick, Jr. in the Northern District of California;

In re Sodium Gluconate Antitrust Litigation, No. C-97-4142CW, the Honorable 

Claudia Wilken in the Northern District of California;

In re Vitamins Antitrust Litigation, MDL No. 1285, the Honorable Thomas F. Hogan in 

the District of Columbia;

In re: Metal Building Insulation Antitrust Litigation, Master File No. H-96-3490, the 

Honorable Nancy F. Atlas in the Southern District of Texas;

In re Carpet Antitrust Litigation, MDL No. 1075, the Honorable Harold L. Murphy in 

the Northern District of Georgia, Rome Division;

In re Citric Acid Antitrust Litigation, Master File No. 95-2963, the Honorable Charles 

A. Legge in the Northern District of California; and

Capital Sign Company, Inc. v. Alliance Metals, Inc., et al., Civil Action No. 95-CV6557 (LHP), the Honorable Louis H. Pollak in the Eastern District of Pennsylvania;

Plastic Cutlery Antitrust Litigation, Master File No. 96-728, the Honorable Joseph L. 

McGlynn in the Eastern District of Pennsylvania.

Significant Legal Authority

The Firm has achieved significant recoveries on behalf of class members in antitrust 

cases, including the following:

 In re Urethane Antitrust Litigation, 2:04-md-01616-JWL (D. Kan.). After nearly nine 

years of litigation and four weeks of trial, the Jury reached a verdict for plaintiffs in 

excess of $400 million (before trebling) against defendant Dow Chemical Company, 

and the District Court entered a Judgment of $1.06 billion, which was upheld on 

appeal by the Tenth Circuit Court of Appeals. While on appeal to the U.S. Supreme 

Court, the case against Dow settled for $835 million, which was in addition to earlier 

settlements reached with other defendants. BR&B served as a member of the trial 

team for the case. 

Recoveries Achieved in Antitrust Cases

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 In re Vitamins Antitrust Litigation, MDL No. 1285 (D.D.C.). In this highly complex 

litigation, plaintiffs achieved settlements in excess of $1 billion. BR&B served as a 

member of the executive committee.

 In re Citric Acid Antitrust Litigation, Master File No. 95-2963 (N.D. Cal.). After five 

years of litigation, plaintiffs achieved settlements totaling over $80 million. BR&B 

served as co-lead counsel.

 In re Graphite Electrodes Antitrust Litigation, Master File No. 97-CV-4182 (CRW) 

(E.D. Pa.). After six years of litigation, plaintiffs achieved settlements totaling over 

$133 million. BR&B served as co-lead counsel. 

 In re Automotive Refinishing Paint Antitrust Litigation, MDL No. 1426 (E.D. Pa.). 

After five years of litigation, plaintiffs achieved settlements totaling over $105 

million. See 617 F. Supp.2d 336 (E.D. Pa. 2007). BR&B served as co-lead 

counsel.

 In re Sorbates Antitrust Litigation, No. C 98-4886 (N.D. Cal.). After four years of 

litigation, plaintiffs achieved settlements in the total amount of $96.5 million. BR&B 

served as co-lead counsel. 

 Thomas & Thomas Rodmakers, Inc., et al. v. Newport Adhesives and Composites, et 

al., No. CV-99-07796 FMC (RNBx) (C.D. Cal.) (Carbon Fiber Antitrust Litigation). 

Plaintiffs achieved settlements totaling $67.5 million. BR&B served as co-lead 

counsel.

 In re Polypropylene Carpet Antitrust Litigation, MDL No. 1075 (N.D. Ga.). After five 

years of litigation, plaintiffs achieved a recovery of nearly $50 million. See 93 F. 

Supp. 2d 1348 (N.D. Ga. 2000). BR&B served as co-lead counsel.

 In re Flat Glass Antitrust Litigation, MDL No. 1200 (E.D. Pa.). After more than seven 

years of litigation, plaintiffs were successful in maintaining the case on appeal, see

385 F.3d 350 (3d Cir. 2004), and achieved total recoveries of more than $120 

million. BR&B served as co-lead counsel. 

Among the many securities law, derivative and fiduciary duty cases where the Firm has 

been appointed lead counsel in recent years are the following:

In re Grand Canyon Education, Inc. Securities Litigation, No. 20-639-MN-CJB, before 

the Honorable Maryellen Noreika in the District of Delaware;

Allegheny County Employees' Retirement System v. Energy Transfer LP, et al., Case 

No. 2:20-cv-00200-GAM, before the Honorable Gerald A. McHugh in the Eastern District of 

Pennsylvania; 

In re Dentsply Sirona, Inc. Securities Litigation, No. 18-cv-7253 (NG) (PK), before the 

Honorable Nina Gershon in the Southern District of New York;

Significant Securities and Shareholder Cases

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In re WageWorks, Inc. Securities Litigation, Case No. 4:18-cv-01523-JSW, before the 

Honorable Jeffrey S. White in the Northern District of California;

Shenk v. Mallinckrodt PLC, et al., No. 1:17-00145-DLF, before the Honorable Dabney L. 

Friedrich in the District of Columbia;

In re Roadrunner Transportation Systems, Inc. Securities Litigation, Case No. 17-cv144-PP, before the Honorable Pamela Pepper in the Eastern District of Wisconsin; 

In re DFC Global Corp. Securities Litigation, Civil Action No. 2:13-cv-06731-BMS, before 

the Honorable Berle M. Schiller in the Eastern District of Pennsylvania;

 

Pennsylvania Public School Employees' Retirement System v. Bank of America Corp., et 

al., Civil Action No. 1:11-cv-733-WHP, before the Honorable William H. Pauley, III, in the 

Southern District of New York;

In re Omnivision Technologies, Inc. Securities Litigation, Case No. 5:11-cv-05235, 

before the Honorable Ronald M. Whyte in the Northern District of California;

Louisiana Municipal Police Employees Retirement System v. Green Mountain Coffee 

Roasters et al., Case No. 11-cv-00289, before the Honorable William K. Sessions, III, in the 

District of Vermont;

In re American International Group Inc. 2008 Securities Litigation, Master File No. 08-

CV-4772-LTS, before the Honorable Laura Taylor Swain in the Southern District of New York;

In re McKesson HBOC, Inc. Securities Litigation, No. C-99-20743-RMW, before the 

Honorable Ronald M. Whyte in the Northern District of California;

In re WorldCom, Inc. Securities Litigation, Master File No. 02-Civ-3288 (DLC), before the 

Honorable Denise L. Cote in the Southern District of New York;

In re Cendant Corporation Litigation, Master File No. 98-1664 (WHW), before the 

Honorable William H. Walls in the District of New Jersey;

In re Apollo Group, Inc. Securities Litigation, Master File No. CV 04-2147-PHX-JAT,

before the Honorable James A. Teilborg in the District of Arizona;

In re Merrill Lynch & Co., Inc. Securities, Derivative & ERISA Litigation, Master File No. 

07-cv-9633 (LBS)(AJP)(DFE), before the Honorable Jed S. Rakoff in the Southern District of 

New York;

 

In re The Mills Corporation Securities Litigation, Civil Action No. 1:06-77 (GBL), before 

the Honorable Liam O’Grady in the Eastern District of Virginia;

In re R & G Financial Corp. Securities Litigation, No. 05 cv 4186, before the Honorable 

John E. Sprizzo in the Southern District of New York;

In re Bridgestone Securities Litigation, Master File No. 3:01-0017, before the Honorable 

Robert L. Echols in the Middle District of Tennessee;

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In re DaimlerChrysler Securities Litigation, No. 00-0993, before the Honorable Joseph J. 

Farnan, Jr. in the District of Delaware;

In re Schering-Plough Securities Litigation, Master File No. 01-CV-0829 (KSH/RJH), 

before the Honorable Katherine Hayden in the District of New Jersey;

In re Pepsi Bottling Group Shareholder Litigation, C.A. No. 4526-VCS, before the 

Honorable Leo E. Strine, Jr. in the Delaware Court of Chancery;

In re Nationwide Financial Services Litigation, Case No. 2:08-CV-00249, before the 

Honorable H. Michael Watson, in the Southern District of Ohio;

In re Chiron Shareholder Deal Litigation, Case No. RG 05-230567, before the Honorable 

Robert B. Freedman in the California Superior Court for Alameda County; and

Dennis Rice v. Lafarge North America, Inc., et al., Civil No. 268974-V, before the 

Honorable Michael D. Mason in the Circuit Court for Montgomery County, Maryland.

The Firm has achieved significant recoveries on behalf of class members, including

institutional clients, in more than 50 cases since passage of the PSLRA, including the following:

 In re WorldCom, Inc. Securities Litigation, Master File No. 02 Civ. 3288 (DLC) 

(S.D.N.Y.). BR&B, as co-lead counsel for lead plaintiff the Comptroller of the State of New 

York, the sole Trustee for the New York State Common Retirement Fund (“NYSCRF”), 

negotiated $6.19 billion in settlements with defendants, including a settlement with the 

company’s outside auditor, Arthur Andersen LLP, after nearly five weeks of trial. The recovery 

is the largest ever achieved in the Southern District of New York and in the Second Circuit. 

 In re Cendant Corporation Litigation, Civil Action No. 98-1664 (WHW) (D.N.J.). 

BR&B, as co-lead counsel, represented co-lead plaintiffs NYSCRF and the California Public 

Employees’ Retirement System. This litigation was settled for $3.18 billion – which, at the time, 

was by far the largest recovery ever achieved in a class action under the securities laws – plus 

a contingency that brought the total recovery to $3.32 billion. The $335 million settlement with 

Ernst & Young, the outside auditor for one of the Cendant predecessor companies, continues to 

stand as the largest recovery from an accounting firm in a securities class action. The recovery 

is the largest ever achieved in the District of New Jersey and in the Third Circuit.

 In re McKesson HBOC, Inc. Securities Litigation, Master File No. CV-99-20743 RMW 

(N.D. Cal.). BR&B, as co-lead counsel, represented the NYSCRF as sole lead plaintiff. BR&B 

vigorously prosecuted the case against the company, its management, HBOC, Inc.’s former 

auditor, Arthur Andersen LLP, and Bear Stearns & Co., Inc., which had issued a fairness 

opinion in connection with the merger between McKesson and HBOC. After contentious motion 

practice and during discovery, BR&B participated with the NYSCRF in negotiating settlements 

totaling $1.052 billion. The recovery is the largest ever achieved in the Northern District of 

California and in the Ninth Circuit.

 In re American International Group, Inc. 2008 Securities Litigation, Case No. 08-cv4772-LTS-DCF (S.D.N.Y.). BR&B served as a co-lead counsel representing the State of 

Michigan Retirement Systems. After more than six years of intensive litigation, including the 

Recoveries Achieved in Securities and Shareholder Cases

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completion of all fact discovery and full briefing, an evidentiary hearing, and oral argument on 

lead plaintiff’s motion for class certification, the parties reached settlements totaling $970.5 

million, which the court approved on March 20, 2015, finding that it was an “outstanding result 

obtained on behalf of the settlement class.” The recovery is among the largest achieved in a 

securities fraud class action stemming from the 2008 financial crisis, and appears to be the 

largest securities class action settlement in the absence of a criminal indictment, an SEC 

enforcement action or a restatement of a company’s financial statements.

 In re Merrill Lynch & Co., Inc. Securities, Derivative & ERISA Litigation, Master File 

No. 07-cv-9633 (LBS)(AJP)(DFE), pending before the Honorable Jed S. Rakoff in the Southern 

District of New York. BR&B, as co-lead counsel for sole lead plaintiff the State Teachers 

Retirement System of Ohio, negotiated a $475 million settlement with defendants in January 

2009.

 Pennsylvania Public School Employees' Retirement System v. Bank of America 

Corp., et al., Civil Action No. 1:11-cv-733-WHP, pending before the Honorable William H. 

Pauley, III, in the Southern District of New York. After nearly six years of litigation, BR&B, as 

the sole lead counsel for sole lead plaintiff the Pennsylvania Public School Employees’ 

Retirement System, negotiated a $335 million settlement with defendants that the court 

approved in December 2016.

 In re DaimlerChrysler AG Securities Litigation, Master File No. 00-993 (JJF) (D.

Del.). BR&B, as co-lead counsel for institutional investors the Denver Employees Retirement 

Plan, the Policemen’s Annuity and Benefit Fund of Chicago, and the Municipal Employees 

Annuity and Benefit Fund of Chicago, negotiated in October 2003, a $300 million settlement of 

this case involving the purported “merger of equals” between Daimler Benz and Chrysler 

Corporation. Notably, in a related opt out case, the court granted summary judgment in 

defendants’ favor, leaving the opt out plaintiff with no recovery.

 In re The Mills Corporation Securities Litigation, Civil Action No. 1:06-cv-00077 

(LO/TRJ) (E.D. Va.). BR&B, as co-lead counsel and counsel for co-lead plaintiff the Iowa Public 

Employees Retirement System (“IPERS”), negotiated settlements totaling $202.75 million with 

the defendant real estate investment trust corporation, with Mills’ former auditor, Ernst & Young,

and with a foreign real estate development company. When it was approved in December 

2009, the global settlement of the case was the largest securities fraud class action recovery in 

the Eastern District of Virginia.

 In re Schering-Plough Securities Litigation, Master File No. 01-CV-0829 (KSH/RJH), 

before the Honorable Katherine Hayden in the District of New Jersey. BR&B, as lead counsel 

for sole lead plaintiff the Florida State Board of Administration, negotiated a $165 million

settlement after 8 years of hard-fought litigation. The settlement, approved in December 2009, 

was described by the Court as the product of “hard work and good judgment in ultimately 

achieving a negotiated resolution of substantial value to the class.” 

 In re Apollo Group, Inc. Securities Litigation, Master File No. CV 04-2147-PHX-JAT, 

before the Honorable James A. Teilborg in the District of Arizona. BR&B, as lead counsel for 

sole lead plaintiff the Policemen’s Annuity and Benefit Fund of Chicago (“PABF”), conducted a 

two month trial which resulted in a unanimous jury verdict in January 2008 for the lead 

plaintiff and investor class for the full amount of price inflation per share that the lead 

plaintiff had requested. Although the district court judge entered a judgment for defendants 

notwithstanding the verdict on loss causation grounds, on June 23, 2010, the Ninth Circuit 

overturned the judgment and reinstated the jury verdict in favor of plaintiffs and the investor 

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class. The decision of the Court of Appeals to reinstate the plaintiffs’ jury verdict appears to be 

the only time such an appellate decision has been made since passage of the PSLRA. On 

March 7, 2011, the U.S. Supreme Court denied defendants’ petition for certiorari, thereby 

allowing the Ninth Circuit’s decision to stand and for the district court to enter judgment in favor 

of the plaintiff class. Later in 2011, the case was resolved by the payment by defendants of 

$145 million for the benefit of the injured investors. On April 20, 2012, the court granted final 

approval of the case resolution.

 Michael Rubin v. M.F. Global Ltd., Case No. 08cv2233 (VM), before the Honorable 

Victor Marrero in the Southern District of New York. BR&B, as co-lead counsel and counsel for 

co-lead plaintiffs IPERS and the PABF, negotiated a $90 million settlement after the Second 

Circuit Court of Appeals reversed the trial court’s dismissal of the complaint. 

 In re R&G Financial Corporation, et al., Civil Action No. 1:05cv04186 (JES), before 

the Honorable John E. Sprizzo in the Southern District of New York. BR&B, as co-lead counsel 

for co-lead plaintiff the City of Philadelphia Board of Pensions and Retirement, negotiated a $51 

million settlement with defendants.

 In re Pepsi Bottling Group Shareholder Litigation, C.A. No. 4526-VCS, before the 

Honorable Leo E. Strine, Jr. in the Delaware Court of Chancery. BR&B, as co-lead counsel for 

co-lead plaintiff IBEW Local 98, challenged the proposed takeover of Pepsi Bottling Group 

(PBG), by PepsiCo, and in related actions, shareholders of PepsiCo’s other primary bottling 

company, PepsiAmericas, Inc. (PAS), challenged the proposed takeover of PAS by PepsiCo. 

After significant litigation of the PBG and PAS actions, and through negotiations of special 

committees of both bottling companies’ boards, PepsiCo agreed to: (a) significantly higher 

acquisition prices that provided PBG shareholders as a group with $1.022 billion more in value; 

(b) delete the cross-conditionality provision for the two deals; (c) reductions in the merger 

agreements' termination fees and termination tail periods; and (d) additional disclosures in the 

final proxy statements for the two deals. On June 1, 2010, then-Vice Chancellor Strine granted 

final approval of the settlements of the related cases, crediting the litigation brought by the 

plaintiffs and their counsel as a causal factor in prompting PepsiCo to make fuller offers for the 

bottling companies. 

 In re Nationwide Financial Services Litigation, Case No. 2:08-CV-00249, before the 

Honorable H. Michael Watson, in the U.S. District Court for the Southern District of 

Ohio. BR&B, as co-lead counsel, represented lead plaintiff the International Brotherhood of 

Electrical Workers Local 98 Pension Fund in this class action litigation contesting the buy-out of 

Nationwide Financial Services, Inc. by its majority owner Nationwide Mutual Insurance 

Company and certain affiliates in 2008. After extensive negotiations, Nationwide Mutual agreed 

to increase its tender offer price from its initial offer of $47.20 per share to the final price of 

$52.25 per share, a benefit to the class of approximately $232.8 million (a 10.7% increase), 

and further agreed to additional disclosures in the final proxy statement. In assessing the 

settlement, the Court agreed with lead plaintiffs that it represented an “excellent result for the 

Class.” 

 Dennis Rice v. Lafarge North America, Inc., et al., Civil No. 268974-V, before the 

Honorable Michael D. Mason in the Circuit Court for Montgomery County, Maryland. BR&B, as 

co-lead counsel, represented lead plaintiff the City of Philadelphia Board of Pensions and 

Retirement in this class action litigation contesting the buy-out of Lafarge North America by 

majority owner Lafarge S.A in 2006. After extensive discovery and injunction practice, Lafarge 

SA agreed to increase its tender offer price from its initial offer of $75 per share to the final price 

of $85.50, a benefit to the class of approximately $388 million. 

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 In re Chiron Shareholder Deal Litigation, Case No. RG 05-230567, before the 

Honorable Robert B. Freedman in the California Superior Court for Alameda County. BR&B, as 

lead counsel, represented an individual investor and the class in this class action litigation 

contesting the proposed acquisition of Chiron Corp. by Novartis AG in 2005. After extensive 

discovery and injunction practice, Novartis agreed to increase the offering price from its initial 

offer of $40 per share to the final price of $48, a benefit to the class of approximately $880 

million. 

 In re Applied Micro Circuits Corp. Securities Litigation, Civil Action No. 01-cv-0649-K 

(AJB) (S.D.Cal.). BR&B, as sole lead counsel for lead plaintiff the Florida State Board of 

Administration, negotiated a $60 million settlement in 2005.

 In re Sunbeam Securities Litigation, Case No. 98-8258-Civ-Middlebrooks (S.D. Fla.). 

BR&B represented a lead plaintiff group that included the CWA/ITU Negotiated Pension Plan in 

this litigation, which could not be prosecuted against Sunbeam itself due to its bankruptcy filing. 

This case resulted in settlements in 2002 totaling more than $140 million from Arthur 

Andersen LLP, Albert J. Dunlap, Russell Kersh and one of the Company’s insurers. The 

settlement included a record breaking $110 million settlement with Arthur Andersen and one of 

the largest individual securities settlements ($15 million) from the company’s former chief 

executive officer, “Chainsaw” Al Dunlap.

 In re 3Com Securities Litigation, Master File No. C 97-21083-EAI (N.D. Cal.). This 

case, in which BR&B represented a lead plaintiff group of individual investors, involved 

discovery taken throughout the United States and in Europe with respect to 3Com and its 

outside auditing firm. A settlement in the amount of $259 million was reached at the end of the 

discovery process.

 In Re Barnes & Noble Stockholder Derivative Litigation, C.A. No. 4813-CS, before 

the Honorable Leo E. Strine, Jr. in the Delaware Court of Chancery. BRB served as co-lead 

counsel in this derivative action challenging the corporation’s overpayment for an asset owned 

by its controlling stockholder. After extensive litigation, an eve-of-trial settlement providing a 

reduction in the purchase price of the asset of $29 million was achieved. The settlement was 

approved on September 4, 2012.

 In re Cheniere Energy, Inc. Stockholders Litigation, C.A. No. 9710-VCL, in the 

Delaware Chancery Court. BR&B achieved a settlement of lawsuits filed on behalf of investors 

against Cheniere’s CEO, certain other senior executives, and the members of Cheniere's board 

of directors alleging that Cheniere’s management team and board breached the terms of the 

company’s bylaws as well as their fiduciary duties to the company and its shareholders with 

respect to stock awards made in 2013. Upon the filing of the initial complaint by BR&B, 

Cheniere postponed the Annual Stockholder Meeting for three months, and thereafter took off 

the agenda for the Meeting the proposal to add another 30 million shares to the stock incentive 

plan’s share reserve. The settlement negotiated with defendants, among other things: (a) 

invalidated the board’s ability to issue to company insiders 7.845 million shares of stock that the 

company claimed had been validly set aside for compensation purposes based on a prior 

stockholder vote, which shares had a market price-based value at the time of the settlement of 

approximately $565 million; (b) provided that the 7.845 million shares could be used for 

compensation purposes only if the company scheduled a new vote and obtained stockholder 

authorization pursuant to a voting standard in line with the default provision of Delaware law, a 

so-called “present and entitled to vote” standard under which abstentions are counted as “no” 

votes; and (c) prohibited the company from granting to company insiders or seeking stockholder 

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approval for any further stock-based compensation to company insiders until January 1, 2017. 

The Court approved the settlement in March 2015.

 Public Employees’ Retirement System of Mississippi v. Leonard S. Schleifer, et al.

(Regeneron Pharmaceuticals, Inc. Derivative Case), No. 656813/2017, Part 39 (N.Y. Supreme 

Ct.). BR&B, on behalf of the MPERS, filed a shareholder derivative complaint in the New York 

Supreme Court in November 2017, alleging that Regeneron Pharmaceuticals, Inc.’s thencurrent and certain former directors breached their fiduciary duties and were unjustly enriched 

when they approved and/or received allegedly excessive compensation in 2013, 2014, 2015, 

and 2016, and that they breached their fiduciary duties in 2014 when they approved a long-term 

incentive plan and in 2017 when they approved the amended and restated plan, both of which 

authorized the award of equity compensation to directors and others. After certain Courtordered document discovery took place, BR&B negotiated a settlement on behalf of MPERS 

(subsequently joined by plaintiffs in a related action) in which: (1) Regeneron agreed to a 

significant reduction of the compensation that will be provided to its non-employee directors and 

the chairman of its board for the next five years, providing a financial benefit to the Company of 

$44.5 million; (2) defendants agreed that after 2021, only a vote of non-affiliated shareholders 

can increase the compensation caps agreed to in the settlement, meaning the Company 

insiders as well as other potentially interested shareholders will not be able to vote on this issue; 

(3) Regeneron agreed to provide increased disclosures concerning director compensation for 

the next five years, in excess of what would otherwise be required by SEC regulations; and (4) 

Regeneron agreed to institute certain governance reforms concerning director compensation. 

The Court approved the settlement in December 2018.

The Firm has extensive experience in trying class action cases in federal and state 

court, including the following: 

In re Apollo Group, Inc. Securities Litigation, Master File No. CV-04-2147-PHX-JAT 

(District of Arizona) (jury verdict in 2008 for the full amount of per share damages requested, 

and later settled after the jury verdict was upheld on appeal for $145 million);

In re WorldCom, Inc. Securities Litigation, Master File No. 02-Civ-3288(DLC) (Southern 

District of New York) (2005 securities class action jury trial against accounting firm, which was 

settled just before closing arguments for $65 million and a contingency claim later settled for 

$38 million);

Becker v. The Bank of New York Mellon Trust Co., N.A., et al., No. 2:11-cv-06460 (JRS) 

(Eastern District of Pennsylvania) (case sought $15 million in damages, plus interest, settling for 

$13.5 million. The Court approved the settlement in December 2018.

Equity Asset Investment Trust, et al. v. John G. Daugman, et al., No. 20395 (Delaware 

Court of Chancery) (non-jury trial in 2003 in which BR&B represented Iridian Technologies, Inc., 

the world leader at the time in iris recognition technologies, and its common shareholder-elected 

directors); 

Uniondale Beer Co., Inc. v. Anheuser-Busch, Inc., et al., Civil Action No. CV 86-

2400(TCP) (Eastern District of New York) (antitrust class action trial); 

Extensive Class Action Trial Experience

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Gutierrez v. Charles J. Givens Organization, et al., Case No. 667169 (Superior Court of 

California, County of San Diego) (jury verdict in excess of $14 million for plaintiff consumer 

class); 

In re Control Data Corporation Securities Litigation, 933 F.2d 616 (8th Cir. 1991)

(securities class action that BR&B took to trial, got directed verdict overturned on appeal, and 

thereafter favorably settled for the certified class); 

Gould v. Marlon, CV-86-968-LDG (D. Nev.) (jury verdict for plaintiff class); 

Betanzos v. Huntsinger, CV-82-5383 RMT (C.D. Cal.) (jury verdict for plaintiff class).

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Leonard Barrack, senior partner at Barrack, Rodos & Bacine, is a graduate of Temple 

University Law School (J.D. 1968) where he was Editor in Chief of the Temple Law Reporter. 

Mr. Barrack has been practicing in the area of securities class and derivative actions, and 

corporate litigation generally, for more than 40 years, during which time he has analyzed laws 

and provided advice on issues relevant to pension fund boards of trustees. He was admitted to 

the bar of the Supreme Court of Pennsylvania in 1969, and is also a member of the bars of the 

United States Supreme Court, the United States Courts of Appeals for the First, Third, Eighth 

and Tenth Circuits, and the United States District Court for the Eastern District of Pennsylvania. 

Mr. Barrack can be reached at the Firm’s Philadelphia, PA office.

Since enactment of the PSLRA, Mr. Barrack has been appointed lead or co-lead counsel 

in dozens of securities cases throughout the United States, including three of the largest case 

settlements in securities class action history. In In re WorldCom, Inc. Securities Litigation, 

before the Honorable Denise L. Cote in the Southern District of New York, Mr. Barrack was 

responsible for guiding both the vigorously prosecuted litigation – including the five-week trial 

against Arthur Andersen – as well as negotiating on behalf of the NYSCRF the ground-breaking 

settlements totaling more than $6.19 billion with WorldCom’s underwriters, its outside directors, 

and Arthur Andersen, in the midst of trial. He was also co-lead counsel in In re Cendant 

Corporation Litigation, before the Honorable William H. Walls in the District of New Jersey, 

which, at $3.3 billion, was the previously highest recovery ever achieved in a securities fraud 

class case; In re McKesson HBOC, Inc. Securities Litigation, before the Honorable Ronald M. 

Whyte in the Northern District of California, which settled for $1.052 billion. Mr. Barrack was also 

appointed co-lead counsel in In re Merrill Lynch & Co. Securities, Derivative and ERISA 

Litigation, before the Honorable Jed S. Rakoff in the Southern District of New York (settlement 

of $475 million approved in August 2009) and co-lead counsel in In re American International 

Group, Inc. Securities Litigation, before the Honorable Laura Taylor Swain in the Southern 

District of New York, which settled for $970.5 million.

Mr. Barrack has had extensive trial and deposition experience in complex actions 

including the successful trial of derivative lawsuits under Section 14(a) of the Securities 

Exchange Act of 1934; Gladwin v. Medfield, CCH Fed. Sec. L. Rep. ¶95,012 (M.D. Fla. 1975), 

aff’d, 540 F.2d 1266 (5th Cir. 1976); Rafal v. Geneen, CCH Fed. Sec. L. Rep. ¶93,505 (E.D. Pa. 

1972). In addition, Mr. Barrack has lectured on class actions to sections of the American and 

Pennsylvania Bar Association and is the author of Developments in Class Actions, The Review 

of Securities Regulations, Volume 10, No. 1 (January 6, 1977); Securities Litigation, Public 

Interest Practice and Fee Awards, Practicing Law Institute (March, 1980).

Gerald J. Rodos, a partner at Barrack, Rodos & Bacine, is a graduate of Boston 

University (B.A. 1967) and an honor graduate of the University of Michigan Law School (J.D. 

cum laude 1970). Mr. Rodos has been practicing in the area of securities class and derivative 

actions, antitrust litigation and corporate litigation generally, for more than 40 years, during 

which time he has analyzed laws and provided advice on issues relevant to pension fund 

boards of trustees. He was admitted to the bar of the Supreme Court of Pennsylvania in 1971, 

and is also a member of the bars of the Supreme Court of the United States, the United States 

Court of Appeals for the Third Circuit, and the United States District Court for the Eastern 

District of Pennsylvania. Mr. Rodos can be reached at the Firm’s Philadelphia, PA office.

Mr. Rodos has been appointed lead counsel, inter alia, in Payne, et al. v. 

MicroWarehouse, Inc., et al., before the Honorable Dominic J. Squatrito in the District of 

Connecticut; In re Sunbeam Securities Litigation, pending before the Honorable Donald M. 

Middlebrooks in the Southern District of Florida; In re Regal Communications Securities 

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Litigation, before the Honorable James T. Giles in the Eastern District of Pennsylvania; In re 

Midlantic Corp. Shareholders Securities Litigation, before the Honorable Dickinson R. 

Debevoise in the District of New Jersey; In re Craftmatic Securities Litigation, before the 

Honorable Joseph L. McGlynn, Jr. in the Eastern District of Pennsylvania; In re New Jersey Title 

Insurance Litigation, Case No. 2:08-cv-01425-PGS-ES, before the Honorable Peter G. Sheridan 

in the District of New Jersey; In re Automotive Refinishing Paint Antitrust Litigation, Case No. 

2:01-cv-02830-RBS, before the Honorable R. Barclay Surrick in the Eastern District of 

Pennsylvania; and In re Publication Paper Antitrust Litigation, Docket No. 3:04 MD 1631 (SRU), 

before the Honorable Stefan R. Underhill in the District of Connecticut, among many others. Mr. 

Rodos also represented lead plaintiff in the WorldCom litigation.

Mr. Rodos is the co-author of Standing To Sue Of Subsequent Purchasers For Antitrust 

Violations -- The Pass-On Issue Re-Evaluated, 20 S.D.L. Rev. 107 (1975), and Judicial 

Implication of Private Causes of Action; Reappraisal and Retrenchment, 80 Dick. L. Rev. 167 

(1976).

Daniel E. Bacine, a partner at Barrack, Rodos & Bacine, is a graduate of Temple 

University (B.S. 1967) and of Villanova University School of Law (J.D. 1971), where he was an 

Associate Editor of the Law Review and a member of the Order of the Coif. Mr. Bacine has 

been practicing in the area of securities class and derivative actions, and corporate litigation 

generally, for more than 40 years, during which time he has analyzed laws and provided advice 

on issues relevant to pension fund boards of trustees. He was admitted to the bar of the 

Supreme Court of Pennsylvania in 1971, and is also a member of the bars of the United States 

Courts of Appeals for the Third and Seventh Circuits and the United States District Court for the 

Eastern District of Pennsylvania. Mr. Bacine can be reached at the Firm’s Philadelphia, PA 

office.

Mr. Bacine is an experienced civil litigator in both the federal and state courts, having 

tried jury and non-jury securities and other commercial cases, including cases involving disputes 

between securities brokerage firms and their customers. He has been lead or co-lead counsel in 

various class actions, including, inter alia, In re American Travelers Corp. Securities Litigation, 

in the Eastern District of Pennsylvania; In re IGI Securities Litigation, in the District of New 

Jersey; Kirschner v. CableTel Corp., in the Eastern District of Pennsylvania; Lewis v. Goldsmith, 

in the District of New Jersey; Rieff v. Evens (Allied Mutual Demutualization Litigation), in the 

District Court for Polk County, Iowa; Crandall v. Alderfer (Old Guard Demutualization Litigation), 

in the Eastern District of Pennsylvania; and In re Harleysville Mutual, in the Court of Common 

Pleas of Philadelphia.

Mr. Bacine served as senior plaintiff’s counsel in Becker v. BNY Mellon Trust Co., N.A., 

in the Eastern District of Pennsylvania, a class action case that resulted in several important 

decisions delineating the duties of indenture trustees to bondholders: 172 F. Supp. 3d 777 (E.D. 

Pa. 2016) (denying motion for summary judgment); 2016 WL 6397415 (E.D. Pa. October 28, 

2016) (reconsideration denied); 2016 WL5816075 (E.D. Pa. October 5, 2016) (granting class

certification). He was senior counsel at the trial of the Becker matter, which settled just before 

closing arguments.

Mr. Bacine is an adjunct professor of law at Drexel University's Thomas R. Kline School 

of Law and an adjunct lecturer in law at Villanova University School of Law, teaching courses in 

class actions and complex litigation. He also sits as an arbitrator for the Financial Industry 

Regulatory Authority, hearing disputes involving the securities industry, and has chaired 

numerous FINRA arbitration panels since 2000.

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E. Teresa Akonhai, an associate at Barrack, Rodos & Bacine, is a graduate of 

Georgetown University School of Foreign Service (1997, B.S. International Politics & Spanish) 

and Temple University Beasley School of Law (J.D. 2002). Before joining Barrack, Ms. 

Ahonkhai represented plaintiffs and defendants in a variety of matters, including: complex 

securities class action litigation, multi-district product liability litigation and mass tort litigation in 

diverse industries (such as pharmaceutical products, devices and chemicals in regulated and 

non-regulated industries). Ms. Akonhai can be reached at the Firm’s Philadelphia, PA office.

At BR&B, Ms. Ahonkhai represents investors in class and derivative actions, including 

cases involving securities fraud, shareholder rights and corporate governance. Ms. Ahonkhai 

was a member of the litigation team that prosecuted In re American International Group, Inc. 

2008 Securities Litigation, which resulted in a $970.5 million settlement for defrauded investors, 

among the largest recoveries ever achieved in a securities fraud class action arising from the 

2008 financial crisis.

Ms. Ahonkhai serves as a volunteer for Big Brothers Big Sisters, a mentoring 

organization that pairs at-risk youth with positive role models with the goal of overcoming 

otherwise significant barriers to success and for Metropolitan Area Neighborhood Nutrition 

Alliance (MANNA), a non-profit that prepares and delivers nutritional meals and nutrition 

services at no cost to individuals in need. A former college and professional basketball player, 

Ms. Ahonkhai is a frequent lecturer for high-school and collegiate student-athletes and coaches.

William J. Ban, a partner at Barrack, Rodos & Bacine, is a graduate of Brooklyn Law 

School (J.D. 1982) and Lehman College of the City University of New York (A.B. 1977). Mr. Ban 

was admitted to practice in New York in 1983 and in Pennsylvania in 2005. He is a member of 

the bars of United States District Courts for the Southern and Eastern Districts of New York and 

the Eastern District of Pennsylvania and is a member of the New York City Bar Association. Mr. 

Ban can be reached at the Firm’s New York, NY office.

For more than thirty-five years, Mr. Ban’s practice of law has focused on securities, 

antitrust and consumer class action litigation on behalf of plaintiffs and he has participated as 

lead or co-lead counsel, on executive committees and in significant defined roles in scores of 

major class action litigations in federal and state courts throughout the country. Since Mr. Ban 

came to the Firm in 2004, he has been an important member of the firm’s litigation teams for: In 

re WorldCom, Inc. Securities Litigation, Master File No. 02-Civ-3288 (DLC), before the 

Honorable Denise L. Cote in the Southern District of New York; IPERS v. MF Global, Ltd., 08-

Civ-2233 (VM), before the Honorable Victor Marrero in the Southern District of New York; 

PPSERS v. Bank of America, Corp., 11-Civ-00733(WHP), before the Honorable William H. 

Pauley in the Southern District of New York; In re Automotive Refinishing Paint Antitrust

Litigation, MDL Docket No. 1426, before the Honorable R. Barclay Surrick in the Eastern District 

of Pennsylvania; In re: OSB Antitrust Litigation, 06-CV-00826 (PSD), before the Honorable Paul 

S. Diamond in the Eastern District of Pennsylvania; and the recently concluded In re: Lithium 

Ion Batteries Antitrust Litigation, MDL Docket No. 2420, before the Honorable Yvonne G. 

Rogers in the Northern District of California, among others.

Jeffrey A. Barrack, a partner at Barrack, Rodos & Bacine, is a graduate of Clark 

University (B.A. 1990), Boston College (M.A. 1992) and Temple University School of Law (J.D. 

1996). He was admitted to practice in Pennsylvania in 1996 and in New York in 2009, is a 

member of the bars of the United States Court of Appeals for the Third Circuit and the United 

States District Courts for the Southern and Eastern Districts of New York, the Eastern District of 

Pennsylvania, and has been admitted pro hac vice in district courts throughout the United 

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States. Mr. Barrack has represented plaintiffs in securities fraud, antitrust and other class 

actions since joining the Firm in 1996. He also has represented both plaintiff and defendant 

individual and corporate clients in environmental, consumer, business tort and commercial 

litigation in state and federal courts. Before joining the Firm, Mr. Barrack served under the 

United States Attorney assisting in the prosecution of complex white-collar crime in the Eastern 

District of Pennsylvania and the Philadelphia District Attorney assisting in the prosecution of 

crime in Philadelphia. He has been honored repeatedly by the First Judicial District of 

Pennsylvania as an attorney whose “work has been recognized by the judiciary as exemplary.” 

Mr. Barrack can be reached at the Firm’s Philadelphia, PA office.

Mr. Barrack served as a principal member of the litigation team and as a trial attorney in 

In re Apollo Group Inc. Securities Litigation, Master File No. CV-04-2147 PHX-JAT, before the 

Honorable James A. Teilborg of the United States District Court for the District of Arizona, which 

resulted in a $145 million recovery for the class. With the firm representing the Policemen’s 

Annuity and Benefit Fund of Chicago, the Apollo Group federal jury trial began in November 

2007 and ended in a unanimous verdict for investors in January 2008 for the full amount 

requested per damaged share. After the District Court entered a judgment notwithstanding the 

verdict on loss causation grounds, Mr. Barrack participated on the briefing team before the Ninth 

Circuit Court of Appeals, which led to the Court of Appeals vacating the JNOV and reinstating 

the jury verdict. Mr. Barrack also participated on the briefing team before the U.S. Supreme 

Court, which denied defendants’ petition for certiorari. 

Mr. Barrack was also a principal member of the litigation team in In re WorldCom, Inc. 

Securities Litigation, Master File No. 02-Civ-3288 (DLC), before the Honorable Denise L. Cote 

of the United States District Court for the Southern District of New York, in which the Firm 

represented the New York State Common Retirement Fund. He served as the lead attorney on 

auditing and accounting issues through the case and actively participated in the five-week trial 

of the only non-settling defendant, WorldCom’s former auditor Arthur Andersen LLP. The 2005 

jury trial against Arthur Andersen resulted in an additional $103 million for the benefit of the 

class of WorldCom investors, prompting Judge Cote to commend in an opinion and order that in 

the "trial against Andersen, the quality of Lead Counsel’s representation remained first-rate."

Mr. Barrack was a principal member of the litigation team in Pennsylvania Public School 

Employees’ Retirement System v. Bank of America Corp., et al., Civil Action No. 1:11-cv-733-

WHP, before the Honorable William H. Pauley, III, in the United States District Court for the 

Southern District of New York. With the firm serving as counsel on behalf of the lead plaintiff 

and class representative, the Pennsylvania Public School Employees’ Retirement System, Mr. 

Barrack has served as a key member in the litigation and resolution of the case, which settled 

for $335 million.

Mr. Barrack has also served as an important member of many successful litigation 

teams for the Firm. He participated in the prosecution of In re McKesson HBOC, Inc. Securities 

Litigation, No. C-99-20743-RMW, before the Honorable Ronald M. Whyte in the Northern 

District of California, which resulted in more than $1.052 billion for investors from defendants, 

including Bear Stearns, the investment bank that issued a fairness opinion on the merger that 

was the subject of the action; In re Merrill Lynch & Co., Inc. Securities, Derivative and ERISA 

Litigation, Master File No.: 1:07-cv-9633-JSR-DFE, before the Honorable Judge Jed S. Rakoff, 

in the Southern District of New York, which settled for $475 million; In re The Mills Corporation 

Securities Litigation, Civil Action No. 1:06-cv-00077 (LO/TRJ), before the Honorable Liam 

O’Grady, in the Eastern District of Virginia, which settled for $202.75 million; In re 

DaimlerChrysler AG Securities Litigation, Master Docket No. 00-0993 (JJF), before the 

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Honorable Joseph J. Farnan, Jr. in the District of Delaware ($300 million settlement); In re 

Sunbeam Securities Litigation, No. 98-8258-CIV-MIDDLEBROOKS, before the Honorable 

Donald M. Middlebrooks in the Southern District of Florida ($140 million settlement recovered 

from corporate defendants and the company’s independent public accounting firm); In re R&G 

Financial Corporation Securities Litigation, Master File No. 05 Civ. 4186 (JES), before the 

Honorable John E. Sprizzo, in the Southern District of New York ($51 million settlement from 

corporate defendants and the company's independent public accounting firm); and In re 

Bridgestone Securities Litigation, Master File No. 3:01-cv-0017, before the Honorable Robert L. 

Echols in the Middle District of Tennessee ($30 million settlement from Japanese corporation).

Mr. Barrack has successfully advocated corporate governance and excessive executive 

compensation reforms through shareholder rights claims asserted in direct and derivative cases 

alleging corporate directors’ breaches of fiduciary and other legal duties. For example, Mr. 

Barrack was a principal member of the litigation team in Resnick v. Occidental Petroleum, et al., 

Case No. 10-cv-00390, before the Honorable Robert F. Kelly, presiding by special designation 

in the District of Delaware, which resulted in benefits described by the Court as “meaningful 

change” to the company’s executive compensation and reporting policies and practices that 

“affords valuable consideration to Occidental and its shareholders.” And in Gralnick v Apple, 

Inc., No. 13 Civ. 900 (RJS), 13 Civ. 0976 (RJS) (S.D.N.Y.), Mr. Barrack was a principal member 

of the litigation team that successfully challenged an improper proxy statement issued by Apple, 

Inc., seeking to preserve shareholders’ right to a fair and informed shareholder vote and to 

enjoin the vote on the offending proposal. The Court issue the injunction ruling that plaintiff 

shareholder was "likely to succeed on the merits and [would] face irreparable harm if the vote ... 

[was] permitted to proceed. Further, the Court finds that the balance of hardships tips in 

[plaintiff's] favor, and that a preliminary injunction would be in the public interest."

Mr. Barrack has participated in public pension board educational programs and 

conferences designed for the education of public pension fiduciaries. For example, Mr. Barrack 

participated at a board educational program hosted by the Pennsylvania Public School

Employees’ Retirement System, and presented on trial practice in securities fraud litigation. In

addition, Mr. Barrack has presented to the members of the National Association of Public 

Pension Attorneys (“NAPPA”) during its annual summer seminar, and has published work in its 

periodical, The NAPPA Report. Mr. Barrack currently serves on NAPPA’s Securities Litigation 

Working Group. Mr. Barrack has lectured on private securities litigation at the Beasley School of 

Law at Temple University, has been a featured columnist on securities litigation for The Legal 

Intelligencer, the oldest law journal in the United States, and has written on trial practice for the 

American Journal of Trial Advocacy.

Stephen R. Basser, partner in Barrack, Rodos & Bacine, is a graduate of the American 

University, Washington D.C. (B.A., with Honors, 1973) and Temple University School of Law, 

Philadelphia, Pennsylvania (J.D. cum laude 1976), where he was awarded the honor of “Highest 

Grade and Distinguished Class Performance” by its nationally renowned clinical trial litigation 

program and was selected to serve as a student prosecutor under the supervision of the United 

States Attorney’s Office for the Eastern District of Pennsylvania. Mr. Basser has been 

practicing in the area of securities class and derivative actions, corporate litigation, and 

consumer protection litigation generally, for over 35 years. He was admitted to the bars of the 

Supreme Court of Pennsylvania in 1976, and the Supreme Court of California in 1985. He is 

also a member of the bars of the United States Circuit Courts of Appeals for the Sixth and Ninth 

Circuits, and the United States District Courts for the Southern, Central and Northern Districts of 

California, the District of Colorado, Eastern District of Pennsylvania, the Northern District of 

Texas, the Eastern District of Wisconsin, and the Eastern District of Michigan. Mr. Basser is the 

managing partner of the Firm’s San Diego, CA office.

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Mr. Basser is an experienced civil litigator in federal and state courts and has 

successfully tried numerous civil jury and non-jury cases to verdict. In addition to litigating 

product liability, medical malpractice, catastrophic injury, mass toxic tort and complex business 

disputes, Mr. Basser has extensive experience prosecuting securities class actions, including 

actions against Pfizer, Inc., Procyte Corp., Wall Data Corp., Louisiana-Pacific Corp., Samsonite 

Corp., TriTeal Corp., Sybase, Inc., Silicon Graphics, Inc., Orthologic Corp., Adobe, PeopleSoft, 

Inc., Safeskin Corp., Bridgestone Corp., Harmonic, Inc., 3Com Corp., Dignity Partners, Inc., 

Daou, Vivus, Inc., FPA Medical, Inc., Union Banc of California, Merix Corporation, Simulation 

Sciences, Inc., Informix Corporation, OmniVision Technologies, Inc., Roadrunner Transportation 

Corp., WageWorks, Inc., and Hewlett Packard Company. Mr. Basser served as lead counsel 

representing lead plaintiff the Florida State Board of Administration in In re Applied Micro 

Circuits Corp. Securities Litigation, Lead Case No. 01-cv-0649-K (AJB), which settled for $60 

million, one of the largest recoveries in a securities class action in the Southern District of 

California since passage of the PSLRA. He also acted as co-lead counsel for lead plaintiff the 

NYSCRF in In re McKesson HBOC, Inc. Securities Litigation, Master File No. CV-99-20743 

RMW, which settled for a total of $1.052 billion from all defendants and is the largest securities 

fraud class action recovery in the Northern District of California. Mr. Basser was the lead 

attorney in In re Chiron Shareholder Deal Litigation, Case No. RG 05-230567, (Superior Court in 

and for the County of Alameda, California), resulting in a settlement for the shareholder class 

valued at approximately $880 million, constituting one of the largest securities ever achieved in 

a merger related class action alleging breach of fiduciary duties by corporate officers and 

directors. He was the lead and first chair trial attorney in In re Apollo Group Inc. Securities 

Litigation, Master File No. CV-04-2147 PHX-JAT (District of Arizona), before the Honorable 

James A. Teilborg, which was tried to a federal jury from November 2007 until the jury returned 

a unanimous verdict for investors in January 2008, ultimately recovering $145 million for the 

shareholder class.

Mr. Basser has prosecuted derivative shareholder actions on behalf of and for the 

benefit of nominal corporate entities such as Pfizer, Apple, Nvidia and Quest, achieving 

significant corporate governance therapeutics on behalf of those entities. Mr. Basser has also 

vigorously pursued the rights of the elderly, and consumers serving as a co-lead counsel and as 

part of a group of firms prosecuting class actions ("Senior Annuity Litigation") alleging California 

consumer protection and federal RICO claims against companies that target senior citizens in 

the sale of deferred annuity products, ultimately securing benefits collectively valued at over $1 

billion.

Mr. Basser was the firm's primary attorney assisting in the development of expert 

witnesses in aid of the prosecution of the In re Anthem, Inc. Data Breach Litigation which 

secured a $115 million settlement. He served as Interim Executive Committee Counsel in the 

Feller v. Transamerica Life Insurance Litigation that settled for $200 million. He has served as 

Interim Executive Committee Counsel in the Toyota Hybrid Brake (EDTX) and in the Nissan 

CVT (MDTN) litigation cases (settlement valued at over $300 million). Mr. Basser serves as the 

Executive Committee in the pixel privacy case entitled Castillo et al v. Costco Wholesale 

Corporation, Case No. 2:23-cv-01548-JHC (W.D. Wash.). The firm is a co-lead counsel in the 

pixel privacy case entitled John Doe, et al v. Cedars Sinai Health Systems, et al., Case 

No.22STCV41085 (Los Angeles County Superior Court). He is Chair of the Executive 

Committee in In re Forefront Data Breach Litigation (EDWI). He serves as Interim Executive 

Committee Counsel in In re Shields Health Group Data Breach Litig., Case No. 1:22-cv-10901 

(D. Mass.); in In re Lincare Holdings Data Breach Litig., Case No. 8:22-cv-01472 (M.D. Fla.); 

and In re Apria Healthcare Data Breach Litig., Master File No. 1:23-cv-01003-RLY-KMB (S.D. 

Ind.). He currently serves as a member of the Science and Expert Subcommittee in In re Philips 

CPAP, Bi-Level PAP Mechanical Ventilator Products Liability Litigation (WDPA) and is also as a 

member of Plaintiffs’ Steering Committee in In re East Palestine Derailment Litig. (N.D. Ohio).

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Mr. Basser has regularly shared his experience and knowledge with attorneys, Judges, 

public pension funds and the lay public. He also lectured on the topic of securities related 

litigation and shareholder issues in the wake of the derivative securities, toxic debt portfolio and 

real estate mortgage default related global economic crisis of 2008, at the American Association 

of Justice, Winter Convention, February 2010 and the American Association of Justice, Summer 

Convention 2010. He presented on the topic of "Securities Litigation" at the Federal Judicial 

Center's Workshop for Judges of the Ninth Circuit on February 1, 2011 and lectured on the topic 

of trying a complex class action at Vanderbilt Law School entitled “Battle in the Valley of the 

Sun: Strategy Tactics and Honor in Litigation,” October 17, 2013. He has written for the 

American Association of Justice Quarterly Newsletter, Fall 2009, co-authoring “Securities 

Litigation in the Wake of the Sub-Prime Crisis.” Mr. Basser has been repeatedly selected as a 

California “Super Lawyer,” as LAWDRAGON’s “100 Attorneys You Need to Know in Securities 

Litigation” and has been regularly commended by San Diego Magazine and the Los Angeles 

Times as a “Top Lawyer.” He has also been repeatedly cited as one of Southern California's 

"Top 100 High-Stakes Litigators."

Chad A. Carder, a partner at Barrack, Rodos & Bacine, is an honors graduate of The 

Ohio State University (B.A. 1999), and College of William and Mary, Marshall-Wythe School of 

Law (J.D. 2002), where he was a Graduate Research Fellow and served on the William and 

Mary Moot Court Board. From 2002 to 2003, Mr. Carder served as the law clerk to the 

Honorable Michael J. Hogan of the New Jersey Superior Court. He was admitted to practice in 

Pennsylvania and New Jersey in 2002 and is a member of the bars of the United States District 

Courts for the Eastern District of Pennsylvania and the District of New Jersey. Mr. Carder can 

be reached at the Firm’s Philadelphia, PA office.

Mr. Carder concentrates his practice on federal securities class action litigation, is 

experienced in representing both institutional investor plaintiffs and individual defendants, and 

has been a member of the teams that have litigated major securities class actions to their 

landmark conclusions, including In re WorldCom, Inc. Securities Litigation, Master File No. 02-

Civ-3288 (DLC), before the Honorable Denise L. Cote in the Southern District of New York; In re 

Schering-Plough Securities Litigation, Master File No. 01-CV-0829 (KSH/RJH), before the

Honorable Katherine Hayden in the District of New Jersey; Eastwood Enterprises, LLC v. Farha, 

et al., Case No. 8:07-cv-1940-T-33EAJ, before the Honorable Virginia M. Hernandez Covington 

in the Middle District of Florida; and In re The Mills Corporation Securities Litigation, Civil Action 

No. 1:06-cv-00077 (LO/TJR), before the Honorable Liam O’Grady in the Eastern District of 

Virginia.

In addition to representing plaintiffs in securities class actions, Mr. Carder also has an 

active antitrust litigation practice, representing plaintiffs in the prosecution of the following 

antitrust cases, among others: In re Chocolate Confectionary Antitrust Litigation, before the 

Honorable Christopher C. Connor, in the Middle District of Pennsylvania; In re Processed Egg 

Products Antitrust Litigation, before the Honorable Gene E.K. Pratter, in the Eastern District of 

Pennsylvania; In re New Jersey Title Insurance Antitrust Litigation, before the Honorable Garrett 

E. Brown, Jr., in the District of New Jersey; In re Flat Glass (II) Antitrust Litigation, before the 

Honorable Donetta W. Ambrose in the Western District of Pennsylvania; and In re Publication 

Paper Antitrust Litigation, before the Honorable Stefan R. Underhill in the District of Connecticut. 

Mr. Carder has also litigated several corporate takeover class and derivative actions, and has 

extensive experience litigating shareholder derivative actions in various state and federal courts.

Matthew Cyr, an associate at Barrack, Rodos & Bacine, is a graduate of St. Joseph’s 

University, Philadelphia, Pennsylvania (B.A. 1998) and the University of Wisconsin Law School, 

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Madison, Wisconsin (J.D. 2005). Mr. Cyr was admitted to practice in Wisconsin in 2005, in New 

Jersey in 2006 and in Pennsylvania in 2012. He can be reached at the Firm’s Philadelphia, PA 

office.

At the Firm, Mr. Cyr has worked on major class action litigation in the securities and 

antitrust fields, including cases against Mills Corporation, WellCare Health Plans, Inc., American 

International Group, RAIT Financial Trust, Merrill Lynch & Co., and companies involved in the 

municipal derivatives industry.

Jeffrey W. Golan, a partner in Barrack, Rodos & Bacine, graduated with honors from 

Harvard College in 1976 with a degree in Government. He graduated in 1980 from the 

Georgetown University Law Center, where he served as the Topics Editor for the school’s 

international law review, and from the School of Foreign Service, with a Master’s of Science 

Degree in Foreign Service. In 1980, he received the Francis Deák Award from the American 

Society of International Law for the year’s best student writing in an international law journal. Mr. 

Golan served as a Law Clerk for the Honorable Edwin D. Steel, Jr., in the United States District 

Court for the District of Delaware, and thereafter joined a large firm in Philadelphia, where he 

concentrated on commercial litigation, including the representation of plaintiffs and defendants 

in federal securities and antitrust cases. Mr. Golan was admitted to practice in Pennsylvania in 

1981 and is a member of the bars of United States Court of Appeals for the Second, Third, and 

Fourth Circuits, and the United States District Court for the Eastern District of Pennsylvania. Mr. 

Golan can be reached at the Firm’s Philadelphia, PA office.

Since joining BR&B in 1990, Mr. Golan has been the Firm’s primary attorney in many 

major securities fraud cases throughout the country. Of particular note, he was BR&B’s lead trial 

attorney in the WorldCom securities class action – a prosecution that yielded a record-breaking 

recovery of more than $6.19 billion for defrauded investors – one of the most notable fraud 

cases ever to go to trial. In April 2005, Mr. Golan led the BR&B team that took the only nonsettling defendant, WorldCom’s former auditor Arthur Andersen LLP, to trial. Andersen agreed 

to settle in the fifth week of trial, shortly before closing arguments. In approving this and other 

settlements, Judge Denise Cote found “the quality of the representation given by Lead Counsel 

is unsurpassed in this Court’s experience with plaintiffs’ counsel in securities litigation” and that 

“the quality of representation that Lead Counsel has provided to the class has been superb.” 

From 2008 to 2015, Mr. Golan was the Firm’s lead attorney in In re American International 

Group, Inc. 2008 Securities Litigation, which settled for $970.5 million. The settlement is 

believed to be the largest recovery in a securities class action in the absence of a restatement, 

an SEC enforcement action or a criminal indictment. In approving the settlement in March 2015, 

Judge Laura Taylor Swain found the recovery to be an “outstanding result obtained on behalf of 

the settlement class.”

Mr. Golan also served as BR&B’s primary attorney for the landmark Cendant case, in 

which the lead plaintiffs and lead counsel achieved what is still the third highest recovery ever 

achieved in a securities fraud class case ($3.32 billion), which included the most ever paid in a 

securities fraud class case by an outside auditor ($335 million). He served as the Firm’s lead 

attorney in the securities fraud class action involving The Mills Corporation, which settled with 

the defendant real estate investment trust corporation, its officers and directors, its auditor, and 

a foreign real estate development company, for $202.75 million, as well as in cases against 

DaimlerChrysler ($300 million obtained for the class), DFC Global Corp. ($30 million recovered), 

and many others.

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Mr. Golan also served as the lead trial attorney in an action in the Delaware Court of 

Chancery, Equity Asset Investment Trust, et al. v. John G. Daugman, et al., in which the Firm 

represented Iridian Technologies, Inc. (the world leader in iris recognition technologies) and its 

common shareholder-elected directors. The case was brought against the Company and the 

common directors, prepared for trial on an expedited basis under the Chancery Court’s “fasttrack” procedures for Board contests, and went to trial two months after the complaint was filed.

Mr. Golan has also headed up the Firm’s representation of lead plaintiffs in a number of 

derivative actions stemming from the stock option backdating scandal, and served as the Firm’s 

lead attorney in cases challenging proposed corporate transactions. He served as a co-lead 

counsel in consolidated shareholder cases challenging PepsiCo’s acquisition of Pepsi Bottling 

Group. After such lawsuits were filed, PepsiCo increased its offer price from $29.50 to $36.50 

per share, which provided PBG’s public shareholders with an additional $1.022 billion in value. 

He represented institutional and individual lead plaintiffs in a case that challenged the proposed 

buy-out of Lafarge N.A. by its majority shareholder, Lafarge S.A., which was settled when 

Lafarge S.A. agreed to increase the buy-out price from the $75.00 per share initially offered to 

$85.50 per share (a $388 million increase in the amount paid to Lafarge N.A.’s public 

shareholders) and to make additional disclosures about the company and the proposed 

transaction. And, among other cases, Mr. Golan served as a co-lead counsel in consolidated 

shareholder cases challenging the majority shareholder buy-out of Nationwide Financial 

Services, Inc., where as part of a settlement the acquirer raised its offer price from $47.20 per 

share to $52.25 per share, thereby providing a $232 million benefit to class members.

Mr. Golan also successfully represented investors in the class and derivative action in 

the Delaware Court of Chancery in In re Cheniere Energy Stockholders Litigation, which 

challenged whether shareholders approved an equity compensation plan that provided 

Cheniere’s CEO with $126 million in equity compensation for one year. The successful 

settlement of this litigation resulted in the withdrawal of a new equity compensation plan that 

had earlier been proposed to grant executives 30 million shares that would have had a market 

value of $565 million at the time, a new stockholder vote on the shares that were challenged by 

the litigation, and several other corporate reforms.

Mr. Golan has been selected several times as a “Pennsylvania Super Lawyer” in the 

field of securities litigation. In June 2000, he was honored as the “Featured Litigator” in the online magazine published by Summation Legal Technologies, the legal software company. Mr. 

Golan, who has served as a faculty member at various deposition training programs, has also 

served in numerous capacities for the Public Interest Law Center of Philadelphia, including as 

Vice-Chair of the Board, on the staff of the Mayor’s Task Force for the Employment of Minorities 

in the Philadelphia Police Force, and as a member of the Philadelphia Bar Association's Pro 

Bono Task Force (report issued October 2017).

Andrew J. Heo, an associate at Barrack, Rodos & Bacine, is a graduate of George 

Washington University (B.A. 2015) and Drexel University Thomas R. Kline School of Law (J.D. 

2018), where he was President of the Civil Litigation Society. Mr. Heo is admitted to practice in 

Pennsylvania and New Jersey, and is a member of the bar of the Eastern District of 

Pennsylvania and the District of New Jersey. Mr. Heo can be reached at the Firm’s 

Philadelphia, PA office.

Mr. Heo focuses his practice on complex class action litigation with an emphasis on 

antitrust and securities litigation. Among other matters, Mr. Heo is active in the prosecution of 

complex class action claims against Energy Transfer LP, Subaru of America, Inc., and MSG 

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Networks, Inc. Prior to joining BR&B, Mr. Heo’s practice included advising and representing 

institutional clients in a wide range of commercial litigation matters, including complex products 

liability, class action, and mass torts litigation. During law school, Mr. Heo worked at the Federal 

Reserve Bank of Philadelphia, as well as for the Honorable Rayford A. Means of the First 

Judicial District of Pennsylvania. Mr. Heo’s pro bono practice has included appellate work on 

behalf of plaintiffs in federal court.

Robert A. Hoffman, a partner at Barrack, Rodos & Bacine, is a graduate of Rutgers 

University (B.A. 1980) (with high distinction) and Rutgers University School of Law - Camden 

(J.D. 1983). Mr. Hoffman clerked for the Honorable Charles R. Weiner, United States District 

Court for the Eastern District of Pennsylvania, during the years 1984-1985. Mr. Hoffman has 

been practicing in the area of securities class and derivative actions, and corporate litigation 

generally, for more than 25 years, during which time he has analyzed laws and provided advice 

on issues relevant to pension fund boards of trustees. He was admitted to the bars of the 

Supreme Court of Pennsylvania and Supreme Court of New Jersey in 1983, and is also a 

member of the bars the United States Court of Appeals for the Eighth Circuit and the United 

States District Courts for the Eastern District of Pennsylvania and the District of New Jersey. Mr. 

Hoffman can be reached at the Firm’s Philadelphia, PA office.

Mr. Hoffman has broad experience in prosecuting securities class actions in federal 

courts around the country. He served as lead counsel for the Florida State Board of 

Administration in In re Schering-Plough Securities Litigation, before the Honorable Katherine 

Hayden in the District of New Jersey, which settled in 2009 for $165 million. Mr. Hoffman also 

prosecuted one of the most significant subprime related securities class actions, In Re Merrill 

Lynch & Co., Inc. Securities, Derivative and ERISA Litigation, before the Honorable Judge Jed 

S. Rakoff, in the Southern District of New York, which settled for $475 million for defrauded 

investors, and was a member of the litigation team in prosecuting In re American International 

Group, Inc. 2008 Securities Litigation, before the Honorable Laura Taylor Swain in the Southern 

District of New York, which settled in 2014 for $970.5 million. He was one of the lead attorneys 

representing plaintiffs in In re MicroWarehouse Securities Litigation, (D.Conn.), which resulted in 

a $30 million recovery for the plaintiff class. He also has significant experience in the trial and 

appeal of securities class actions. See, e.g. In re Control Data Corp. Securities Litigation, 933 

F.2d 616 (8th Cir. 1991). Mr. Hoffman also led a derivative case against Synthes, Inc., a large 

medical device company that had been cited by the U.S. Government for illegal “off-label” 

promotions. The case resulted in the implementation of significant corporate governance 

changes at the company.

Jordan R. Laporta, an associate at Barrack, Rodos & Bacine, joined the Firm in 2023. 

Ms. Laporta is a 2019 graduate, summa cum laude, of Drexel University Thomas R. Kline 

School of Law. During law school, she was a lead editor for the Drexel Law Review, an 

accomplished member of the Moot Court Board, and a student attorney with the Federal 

Litigation and Appeals Clinic, through which she achieved victories for her clients in immigration 

and social security cases. Ms. Laporta also graduated cum laude from the Pennsylvania State 

University Schreyer Honors College in 2016.

Ms. Laporta was admitted to practice law in Pennsylvania in 2019. Prior to joining 

BR&B’s Philadelphia office, she served as a law clerk to the Honorable Russell G. Vineyard, 

Chief Magistrate Judge, and the Honorable Justin S. Anand, Magistrate Judge, in the United 

States District Court for the Northern District of Georgia. As an associate at BR&B, Ms. Laporta 

represents investors and clients in complex commercial litigation with an emphasis on securities 

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litigation. She is a member of the BR&B team prosecuting In re Grand Canyon Education, Inc. 

Securities Litigation, which the Court upheld in its entirety in March 2023.

Leslie Bornstein Molder, a partner at Barrack, Rodos & Bacine, is an honors graduate 

from the University of Michigan (A.B. magna cum laude 1980) as well as from the National Law 

Center at the George Washington University (J.D. cum laude 1983) and was admitted to 

practice in Pennsylvania in 1983 and is a member of the bar of the United States Court of 

Appeals for the Seventh Circuit and the United States District Court for the Eastern District of 

Pennsylvania. For over 25 years, Ms. Molder has practiced primarily in the area of complex civil 

litigation, including securities class actions, antitrust class actions and policyholder actions 

against insurance companies and has participated in the trials of a variety of commercial cases, 

including cases involving disputes between securities brokerage firms and their customers. Ms. 

Molder oversees the Firm’s portfolio monitoring services for institutional clients. She is also the 

Firm’s settlement attorney, specializing in documenting and effectuating settlements of class 

actions and assisting clients throughout the settlement process. Ms. Molder can be reached at 

the Firm’s Philadelphia, PA office.

Christopher D. Taylor, an associate at Barrack, Rodos & Bacine, is a graduate of Cornell 

University’s College of Arts and Sciences (1983, B.A., Joint Degree in Government and African 

Studies) and Georgetown University Law Center (1990, J.D.). Prior to joining BR&B, Mr. Taylor 

represented plaintiffs and defendants in a variety of matters, including complex securities class 

action litigation, multi-district product liability litigation and mass tort litigation in diverse 

industries including, but not limited to, pharmaceuticals (opiates, schizophrenia and 

microcrystalline cellulose), government contracts, and commercial contracts disputes. Mr. 

Taylor also worked with the Washington, DC Rental Housing Commission and as the Program 

Coordinator for the Senior Legal Services Program in Burlington County, NJ. Mr. Taylor can be 

reached at the Firm’s Philadelphia, PA office.

Mr. Taylor is committed to helping his community. He serves on the Board of Trustees of 

Tabernacle Baptist Church in Burlington, New Jersey, where he previously held the office of 

Chairperson for three years, as well as the HYPE Youth Ministry and the King’s Men, male 

youth mentoring program, is a Life Member of Phi Beta Sigma Fraternity, Inc., an international 

service fraternity, and is a board member of the non-profit organization, Making a Better 

Tomorrow Foundation, a non-profit organization dedicated to providing scholarships assistance 

and mentoring young people. Mr. Taylor is a frequent participant in fraternity and public-school 

activities for middle and high-school students where he provides insights about applying to 

college and career opportunities in the legal profession.

Michael A. Toomey, a partner at Barrack, Rodos & Bacine, is a graduate of Tufts 

University (B.A. 2005) and Temple University School of Law (J.D. 2010). Mr. Toomey is 

admitted to practice in New York and New Jersey and is a member of the bars of the United 

States District Courts for the Southern and Eastern Districts of New York. While at Temple, Mr. 

Toomey was an intern in the Chambers of Judge Lerner of the Philadelphia Court of Common 

Pleas and Magistrate Judge Elizabeth Hey of the Eastern District of Pennsylvania. He also 

interned at the Philadelphia Public Defender where he advocated in court on behalf of indigent 

defendants. Mr. Toomey can be reached at the Firm’s New York, NY office.

At BR&B, Mr. Toomey has represented investors, including state, local and union 

pension funds, in many class and derivative actions, including cases involving securities fraud, 

shareholder rights and corporate governance. Mr. Toomey was an integral part of the litigation 

teams that prosecuted In re American International Group, Inc. 2008 Securities Litigation, which 

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resulted in a $970.5 million settlement for defrauded investors, among the largest recoveries 

ever achieved in a securities fraud class action stemming from the 2008 financial crisis, and 

Pennsylvania Public School Employees' Retirement System v. Bank of America Corp et. al., 

which resulted in a $335 million settlement in 2016. Mr. Toomey has also successfully 

represented investors in class and derivative actions such as Pub. Employees’ Ret. Sys. of 

Miss. v. Schleifer, which challenged the excessive compensation provided to Regeneron 

Pharmaceuticals, Inc. board of directors’. The successful settlement of this case resulted in the 

largest reduction in board compensation in any excessive director compensation case, ever: 

$44.5 million. Mr. Toomey also represented investors in In re Cheniere Energy Stockholders 

Litigation, which challenged whether shareholders approved an equity compensation plan that 

provided Cheniere’s CEO with $126 million in one year. The successful settlement of this 

litigation resulted in the withdrawal of a new equity compensation plan that proposed to grant 

executives 30 million shares, a new stockholder vote on the shares that were challenged by the 

litigation, and several other corporate reforms. Mr. Toomey also successfully represented 

shareholders in a derivative case challenging the payment by Barnes & Noble for an asset held 

by its chairman Leonard Riggio whereby Riggio agreed to pay $29 million to settle shareholders’ 

claims. Mr. Toomey has also helped to establish important standards in shareholder derivative 

actions such as Seinfeld v. Slager, No. CIV.A. 6462-VCG, 2012 WL 2501105 (Del. Ch. June 29, 

2012) (directors must show entire fairness of their own compensation if compensation plan 

lacks meaningful limits) and Kaufman v. Allemang, 70 F. Supp. 3d 682 (D. Del. 2014) 

(companies must strictly comply with SEC regulation 17 C.F.R. § 240.14a-101 (Item 10(a)(1)) 

when attempting to gain shareholder approval of company compensation plans).

Samuel M. Ward, partner in Barrack, Rodos & Bacine, is a graduate of the University of 

California, Hastings College of Law (J.D. 2001), and a 1995 honors graduate of the University of 

California, San Diego (B.A. 1995). Mr. Ward was admitted to practice in California in 2001 and 

is a member of the bars of the United States District Courts for the Southern, Central and 

Northern District of California. Before joining BR&B, Mr. Ward worked as a political consultant, 

managing both Congressional and State Assembly campaigns. At the Firm, he has litigated 

numerous securities cases in federal district courts throughout the country. Mr. Ward was a 

member of the trial team in In re Apollo Group Inc. Securities Litigation, before the Honorable 

James A. Teilborg in the District of Arizona, where he played a critical role in mastering the 

deposition and documentary proof that was used at trial to secure the jury’s unanimous verdict. 

Mr. Ward also represented the plaintiff class in In re Applied Micro Circuits Corp. Securities 

Litigation, achieving a $60 million settlement for class members, one of the largest recoveries in 

a securities class action in the Southern District of California since passage of the PSLRA. Mr. 

Ward can be reached at the Firm’s San Diego, CA office.

Danielle M. Weiss, an associate at Barrack, Rodos & Bacine, joined the Firm in 2022. 

She graduated cum laude from the University of Pennsylvania in 2002 with a degree in U.S. 

History. Ms. Weiss attended the James E. Beasley School of Law of Temple University (J.D. 

2005), where she was a James Beasley Scholar, a member and editor of the Temple 

International and Comparative Law Journal, and the recipient of the Harry R. Kozart Memorial 

Prize in Products Liability. She is licensed to practice law in Pennsylvania and New Jersey. Ms. 

Weiss can be reached at the Firm’s Philadelphia, PA office.

Before joining BR&B’s Philadelphia office, Ms. Weiss spent over fifteen years at a 

boutique litigation firm in Philadelphia, where she successfully represented individual and smallbusiness clients in high stakes cases in state and federal court, trying several matters to 

successful conclusion, including at the appellate level. Her experience includes litigating 

complex matters involving issues of professional liability, products liability, defamation, breach 

of contract, breach of warranty, employment discrimination, personal injury, and education law 

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through all phases of litigation. Ms. Weiss is active in the community, serving, among other 

positions and organizations, on the Board of Directors of the Jewish Federation of Greater 

Philadelphia, Chair of the Jewish Community Relations Council of the Jewish Federation of 

Greater Philadelphia, and on the National Young Leadership Cabinet of the Jewish Federations 

of North America.

Frances Vilella-Vélez, of-counsel to Barrack, Rodos & Bacine, is a graduate of Syracuse 

University College of Law, Syracuse, New York (J.D. 1977) and Swarthmore College (B.A. 

1974). She was admitted to practice in Puerto Rico in 1977 and in Pennsylvania in 1978 and is 

a member of the bars of the United States Court of Appeals for the Third Circuit and the United 

States District Court for the Eastern District of Pennsylvania. Ms. Vilella-Vélez began her legal 

career in 1978 as a trial attorney in the Office of the Regional Solicitor, U.S. Department of 

Labor, where she litigated OSHA cases before the United States district courts and the 

Occupational Safety and Health Review Commission (OSHRC). She then served as the first law 

clerk for the Honorable Nelson A. Diaz, on the Court of Common Pleas of Philadelphia County, 

Philadelphia, Pennsylvania. During her tenure with Judge Diaz, Ms. Vilella-Vélez also served as 

a staff member on the Mayor’s Task Force on Minority Employment in the Police Department, in 

Philadelphia, where she conducted legal and policy analyses of alternative proposals to 

increase minority employment in the Policy Department, and assisted in drafting the report to 

the mayor. Ms. Vilella-Vélez can be reached at the Firm’s office. Among other community 

activities, Ms. Vilella-Vélez served for many years on the board of the Valentine Foundation and 

currently serves on the board of the Chester Children’s Chorus.

Zakiya Washington, an associate at Barrack, Rodos & Bacine, is a graduate of Hampton 

University School of Business (2004, B.S. Entrepreneurship) and Temple University Beasley 

School of Law (2007, J.D.). Before joining Barrack, Ms. Washington performed discovery 

representing plaintiffs and defendants in a variety of matters, including: complex securities class 

action litigation, pharmaceutical litigation and insurance litigation. Ms. Washington was also a 

Compliance Advisor to large financial institutions in the Financial Crimes department. At BR&B, 

Ms. Washington performs discovery representing investors in class and derivative actions, 

including cases involving securities fraud, shareholder rights and corporate governance. Ms. 

Washington can be reached at the Firm’s Philadelphia, PA office.

In In re Apollo Group Inc. Securities Litigation, Master File No. CV-04-2147 PHX-JAT 

(U.S. District Court for the District of Arizona), Barrack, Rodos & Bacine, as the sole lead 

counsel for the class, secured a jury verdict for the full amount per share requested. Judge 

Teilborg commented that trial counsel “brought to this courtroom just extraordinary talent 

and preparation.... The technical preparation, the preparation for your examination and 

cross-examination of witnesses has been evident in every single instance. The 

preparation for evidentiary objections and responses to those objections have been 

thorough and foresighted. The arguments that have been made in every instance have 

been well-prepared and well-presented throughout the case. *** Likewise, for the 

professionalism and the civility that you -- and the integrity that you have all 

demonstrated and exuded throughout the handling of this case, it has just, I think, been 

Significant Judicial Praise

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very, very refreshing and rewarding to see that. *** [W]hat I have seen has just been truly 

exemplary.” 

BR&B ultimately secured payment of $145 million from the defendants – the largest 

post-verdict judgment and recovery achieved in a shareholder class action for violations of the 

federal securities laws since passage of the PSLRA. In approving the $145 million resolution on 

April 20, 2012 (see 2012 WL 1378677), Judge Teilborg further stated: “[S]ince the enactment of 

the Private Securities Litigation Securities Reform Act (“PLSRA”), securities class actions rarely 

proceed to trial. Because Plaintiffs faced the burden of proving multiple factors relating to 

securities fraud, there was great risk that this case would not result in a favorable verdict after 

trial. Further, after the jury verdict, this Court granted judgment as a matter of law in favor of 

Defendants and Class Counsel pursued a risky and successful appeal to the Ninth Circuit Court 

of Appeals. Thereafter, Class Counsel successfully opposed a petition for certiorari to the 

United States Supreme Court. Based on this procedural history and the seven years of 

diligence in representing the Class, Class Counsel achieved an exceptional result for the 

Class. Such a result is unique in such securities cases and could not have been 

achieved without Class Counsel's willingness to pursue this risky case throughout trial 

and beyond. ... [A]s discussed above, Plaintiffs' Lead Counsel achieved exceptional 

results for the Class and pursued the litigation despite great risk.” 

In In re WorldCom, Inc. Securities Litigation, No. 02 Civ. 3288 (DLC), BR&B was colead counsel for the Class and achieved settlements in excess of $6.13 billion. After a partial 

settlement with one group of defendants for in excess of $2.56 billion, Judge Cote stated that 

"the settlement amount ... is so large that it is of historic proportions." The Judge found 

that “Lead Counsel has performed its work at every juncture with integrity and 

competence. It has worked as hard as a litigation of this importance demands, which for 

some of the attorneys, including the senior attorneys from Lead Counsel on whose 

shoulders the principal responsibility for this litigation rests, has meant an onerous work 

schedule for over two years." Judge Cote further found that “the quality of the 

representation given by Lead Counsel is unsurpassed in this Court’s experience with 

plaintiffs’ counsel in securities litigation. Lead Counsel has been energetic and 

creative. Its skill has matched that of able and well-funded defense counsel. It has 

behaved professionally and has taken care not to burden the Court or other parties with 

needless disputes. Its negotiations with the Citigroup Defendants have resulted in a 

settlement of historic proportions. It has cooperated with other counsel in ways that 

redound to the benefit of the class and those investors who have opted out of the 

class. The submissions of Lead Counsel to the Court have been written with care and 

have repeatedly been of great assistance." The Court also found that “In sum, the quality 

of representation that Lead Counsel has provided to the class has been superb.” In 

approving the final settlements totaling $3.5 billion, in an opinion and order dated September 20, 

2005, the Court stated “The impressive extent and superior quality of Lead Counsel’s 

efforts as of May 2004 were described in detail in the Opinion approving the Citigroup 

Settlement. ... At the conclusion of this litigation, more than ever, it remains true that 

‘the quality of representation that Lead Counsel has provided to the class has been 

superb.’ ... At trial against Andersen, the quality of Lead Counsel’s representation 

remained first-rate. .. The size of the recovery achieved for the class – which has been 

praised even by several objectors – could not have been achieved without the 

unwavering commitment of Lead Counsel to this litigation.”

Further, the Court found that “Despite the existence of these risks, Lead Counsel 

obtained remarkable settlements for the Class while facing formidable opposing counsel 

from some of the best defense firms in the country;” and “If the Lead Plaintiff had been 

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represented by less tenacious and competent counsel, it is by no means clear that it 

would have achieved the success it did here on behalf of the Class.” In reiterating that the 

size of the settlements was “historic,” Judge Cote stated: “it is likely that less able plaintiffs’ 

counsel would have achieved far less.” 

In Becker v. Bank of New York Mellon, et al., 11-cv-06460-JS (E.D. Pa.), BR&B 

served as class counsel, and achieved a cash settlement of $13,500,000 to resolve all claims 

asserted by the plaintiff and the class. In approving the settlement, the Court noted that trial 

counsel’s “skill and efficiency” in defending against a “litany of pretrial motions, including 

a new motion to dismiss, motions in limine, and several Daubert motions,” as well as 

during the trial. The Court further stated that: “This favorable settlement is attributable in 

large part to class counsel’s zealous advocacy for the class and vigorous prosecution of 

this action in the face of formidable opposition from Defendants.”

In In re Automotive Refinishing Paint Antitrust Litigation, 2:10-md-01426-RBS (E.D. 

Pa.), BR&B, co-lead counsel for a Class of direct purchasers of automotive refinishing paint, 

achieved settlements with five defendants in excess of $100 million. After reaching a settlement 

with the last two defendants remaining in the litigation, the Court stated, “I want to commend 

counsel on both sides of this litigation. I think that the representation on both sides of 

this litigation is as good as I’ve ever seen in my entire professional career. Counsel 

worked together in this case. They frankly made the job of this Court very easy and I 

commend all of you for what you’ve done in this litigation.” 

In In re Nationwide Financial Services Litigation, Case No. 2:08-CV-00249, before 

the Honorable H. Michael Watson, in the U.S. District Court for the Southern District of 

Ohio. BR&B, as co-lead counsel, represented a lead plaintiff in a class action litigation 

contesting the buy-out of Nationwide Financial Services, Inc. by its majority owner Nationwide 

Mutual Insurance Company and certain affiliates in 2008. In assessing the settlement, the 

Court found: Plaintiffs and their counsel have made a thoroughly considered judgment 

that the Settlement is not only fair, adequate and reasonable, but an excellent result for 

the Class. The $52.25 per share revised offer was 12% more than NFS’s closing price on 

August 6; it was 10.7% higher than Nationwide Mutual’s initial offer of March 10, 2008 (providing 

an aggregate benefit of $232.8 million to the members of the Class); and it was negotiated in 

the midst of an overall decline in the financial markets, and apparently while internal forecasts 

for NFS indicated some decline in its projected results.” And, in assessing the work of co-lead 

counsel, the Court found that the “quality and skill in the work performed by Plaintiffs’ 

Counsel is evident through the significant economic and non-economic recovery 

achieved in this Action.” 

 

In In re Cendant Corporation Litigation, No. 98-CV-1664 (WHW) (D.N.J.), BR&B was 

co-lead counsel for the Class and achieved settlements with defendants in excess of $3.18 

billion, more than three times larger than the next highest recovery ever achieved in a 

securities law class action suit by that time. The Cendant settlement included what was, at the 

time, the largest amount by far ever paid in a securities class action by an issuing company and 

the amount paid by Ernst & Young remains the largest amount ever paid in a securities class 

action by an outside auditor. The Cendant settlement further included extensive corporate 

governance reforms, and a contingency recovery of one-half the net recovery that Cendant and 

certain of its affiliated individuals may recover in on-going proceedings against CUC’s former 

auditor. The Cendant Court stated that "we have all been favored with counsel of the 

highest competence and integrity and fortunately savvy in the ways of the law and the 

market.” The Court found that the "standing, experience and expertise of counsel, the skill 

and professionalism with which counsel prosecuted the case and the performance and 

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quality of opposed counsel were and are high in this action." The Court further found that 

the result of lead counsel’s efforts were "excellent settlements of uncommon amount 

engineered by highly skilled counsel with reasonable cost to the class."

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