Cornerstone Research was retained by a law firm representing a computer maker in a decade long securities class-action suit.
Cornerstone Research was retained by a law firm representing a computer maker in a decade long securities class-action suit. Shareholders alleged that the company had overstated its earnings shortly before large losses led to bankruptcy. Cornerstone Research addressed the issue of damages by performing a detailed event study and reviewing the personal computer market.
The jury ruled in favor of our client on liability.
We concluded that the company’s stock price decline was not in any way attributable to the accounting-related allegations. We also found fundamental flaws in the analysis and findings of the plaintiffs’ damages expert, which were explored extensively during discovery. The jury ruled in favor of our client on liability.