Sovereign Bancorp Inc. Shareholders Litigation
The class action lawsuit on behalf of Sovereign Bancorp Inc. (Sovereign) shareholders was intended to prevent the shareholder vote on a 2008 proposal by Banco Santander, S.A. (Santander) to acquire…
Two-Step Merger in Banking Industry
During mediation, counsel for the acquirer retained Cornerstone Research and Professor Christopher James of the University of Florida to analyze this complex two-step transaction.
Vesta Insurance Group, Inc., Securities Litigation
Shareholders sued the company and its auditors for securities fraud, claiming that the stock price was artificially inflated for the prior three years.
Market Timing
Cornerstone Research has investigated issues relating to market timing of mutual funds and insurance products.
First Columbia Financial Corp. v. Price Waterhouse
A holding company alleged that the negligence of the auditor of its savings and loan subsidiary resulted in an accounting misstatement and claimed damages related to activities it would not…
Asset Management
Cornerstone Research worked with attorneys representing a custodial bank that was sued by three pension funds whose asset portfolios had disappointing returns in a period of declining real estate markets.
Over-the-Counter Derivatives
In a dispute between a bank and a former corporate client, counsel for the bank retained Cornerstone Research in a matter involving over-the-counter derivatives transactions.
Pearce et al. v. UBS PaineWebber, Inc., et al.
This securities class action was filed on behalf of all noninstitutional investors who purchased and/or sold equity securities listed on NASDAQ through PaineWebber brokers during the class period.
Commerce Commission v. Cards New Zealand et al.
The four largest New Zealand banks retained Cornerstone Research and Professor Timothy Bresnahan of Stanford University to assess, from an economic standpoint, a claim by New Zealand’s Commerce Commission that…
Benning et al. v. Wit Capital Group, Inc., et al.
A proposed class claimed that it was incorrectly denied IPO allocations by Wit Capital Group.
In re NASDAQ Market-Makers Antitrust Litigation
In dozens of antitrust lawsuits and a Department of Justice investigation, the plaintiffs alleged that NASDAQ dealers were engaging in “tacit collusion” to avoid quoting on odd-eighths.
Leary et al. v. Wells Fargo, Crocker National, Bank of America
Cornerstone Research evaluated plaintiffs’ claims of price fixing in the bank credit card industry.
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