Austin C. Norris, P.C.

Securities, Shareholder and RICO Matters

• Representing WEBTOON and certain officers and directors in connection with securities class action and derivative suit, pending in the Central District of California.
• Represented defendants Torrid Holdings, Inc., Sycamore Partners Management, L.P. and related individuals and entities in securities fraud case and related derivative litigation pending in the Central District of California and the District of Delaware. Motions to dismiss were granted in the securities litigation in December 2023. After plaintiffs filed a further amended complaint, defendants’ motions to dismiss were granted with prejudice, ending the litigation. Selected as among the Daily Journal’s 2024 Top Verdicts in California.
• Represented Wynn Resorts, Ltd. and its directors and officers in a putative securities class action and related derivative suits arising from allegations of sexual misconduct by the former CEO, chairman and founder. Won full dismissal in 2020 of the securities class action. In 2021, won dismissal of five sets of amended categories of alleged misrepresentations. Secured favorable settlement.
• Represented Special Purpose Acquisition Company and its directors and officers in multiple securities, derivative and additional shareholder lawsuits pending around the country, including in California and Delaware. Ongoing. 
• Represented Bristol-Myers Squibb in a shareholder suit in state court in San Diego regarding its acquisition of Mirati Therepeutics. Case settled on favorable terms and transaction closed.
• Represented Ashford Hospitality Trust and related entities in several disputes regarding proxy statements and shareholder proposals.
• Represented Wynn Resorts, Ltd. and its CEO in a RICO lawsuit alleging a long-running racketeering scheme in which the defendants conspired to bribe a federal judge in order to harm the plaintiff. In 2021, Kirkland won full dismissal. Successfully argued the case before the Ninth Circuit, which unanimously affirmed the dismissal. See Limcaco v. Wynn, No. 21-56285 (9th Cir. 2023).
• Represented Bill Ackman’s Pershing Square Capital Management in its partnership with Canadian-based Valeant Pharmaceuticals International, Inc. in their over $50 billion unsolicited offer for Botox-maker Allergan. Allergan responded by filing a lawsuit in the Central District of California, alleging violations of the federal securities laws. Subsequent to the denial of Allergan’s motion, the Allergan board accepted a higher strategic bid from another acquirer, resulting in a nearly $2.7 billion investment return to Pershing Square. Allergan then filed a First Amended Complaint. Before a motion to dismiss was filed, the parties to the lawsuit executed a Joint Stipulation of Voluntary Dismissal, dismissing the action of its entirety, without costs or the payment of compensation by any party.
• Represented Macerich in connection with Simon Property’s $16.8 billion takeover bid. In response to Simon’s hostile takeover bid, Macerich approved a “poison pill” provision allowing shareholders to purchase shares at a discount, diluting Simon’s potential stake. Shortly thereafter, the matter was settled and Macerich retained control of the company.
• Represents automotive company in RICO and unfair competition litigation against competitor arising out of bribery scheme designed to corrupt labor negotiations.
  

Real Estate Matters

• Represented the nation’s leading homebuilder and its subsidiary in litigation alleging malfeasance regarding the 2015 Aliso Canyon gas leak, the largest leak of natural gas in U.S. history, which disrupted and damaged the builder’s master-planned development.
• Representing Howard Hughes and affiliates in connection with construction litigation relating to Waiea Ward Village in Honolulu, Hawaii. Ongoing.
• Represented portfolio company of the Carlyle Group in real estate dispute concerning lease in downtown Los Angeles. Obtained a complete victory for the client following accelerated discovery.
• Represented a subsidiary of an institutional real estate client in several cases arising out of the “South Fire” in San Bernadino County, which spread to several hundred acres in August 2021. 
• Represented large property owner in Los Angeles, California in construction litigation against general contractor. 
• Represented several institutional real estate clients in all manner of real estate and construction disputes, including partnership disputes, defect and delay claims, and lender liability claims. 
  

Additional Matters

• Represented Boeing and Boeing Commercial Space in the United States District Court for the Central District of California. Participated in a multi-week bench trial seeking to hold two Delaware corporate subsidiaries of Energia, Energia Limited United States and Energia Overseas LLC, liable as alter egos for the $300 million judgment awarded against the Russian company Energia. Following the bench trial on this equitable claim, the federal district court issued findings of fact and conclusions of law ruling that the subsidiaries were liable as alter egos and rejecting the many affirmative defenses asserted.
• Represented two former employees of multibillion-dollar investment funds at a trial in state court arising out of failure to pay wages, breach of contract and fraud; obtained $10.2 million jury verdict.
• Represented major pharmaceutical company in its defense of several putative class actions filed in Illinois, Massachusetts, New Jersey and Florida federal district courts, asserting violations of various state consumer protection statutes.
• Represented major aerospace company in toxic tort litigation brought by neighboring employees alleging personal injury from hazardous emissions.