Lead counsel in representation of private equity fund, a number of affiliated entities, and individual officers and directors in defense of a lawsuit brought by a bankruptcy liquidating trustee seeking to recover damages in excess of $300 million. In 2005, our private equity client bought two grocery companies and our individual clients proceeded to serve as officers and directors of those companies. In 2009, one of the companies filed for bankruptcy protection, and a liquidating trustee was appointed. The trustee filed this lawsuit against our clients challenging a series of corporate transactions and decisions undertaken by the company while our clients owned it and served as its officers and directors, and asserted claims for breaches of fiduciary duty, fraudulent transfers, avoidable preferences, and illegal dividends against our clients. The case settled favorably while summary judgment motions were pending.
