Counsel for American Pacific retained Cornerstone Research to assess liability and calculate potential damages in this class action securities litigation.
Retained by Skadden, Arps, Slate, Meagher & Flom
Counsel for American Pacific retained Cornerstone Research to assess liability and calculate potential damages in this class action securities litigation. The plaintiffs alleged that the defendants had made misleading statements about the prospects for two of American Pacific’s products. Stanford law professor and former SEC commissioner Joseph Grundfest prepared a declaration that contributed to a successful summary judgment motion on one of the products. On the remaining allegations, we worked with finance professor Mark Grinblatt of UCLA to analyze the behavior of the stock price and developed trial exhibits that critiqued the methodology used by the plaintiffs’ expert to estimate damages. After a three-week trial, the jury found no liability.