Securities Litigation

Kachrodia v. Acadia; Dyar v. Acadia (M.D. Tenn.)

Representing Acadia Healthcare Company in putative class action litigation alleging violation of federal securities laws concerning Acadia’s admissions, length of stay and billing practices at certain inpatient psychiatric facilities.

Kanefsky et al. v. Honeywell Int’l Inc. et al. (D.N.J.); Wayne County Employees’ Ret. Sys. v. Honeywell Int’l, et al. (D.N.J.); In re Honeywell Int’l Consolidated Stockholder Litigation (D. Del.)

Represented Honeywell International Inc. in consolidated shareholder derivative litigation alleging breach of fiduciary duty, unjust enrichment, waste of corporate assets and violation of federal securities laws in connection with Honeywell’s historic method of accounting for asbestos-related liabilities. Kirkland won full dismissal of the derivative suit and resolved the securities litigation for pennies on the dollar.

Represented a Honeywell employee and former officer of Garrett Motion, Inc., in a putative securities class action alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act arising out of Honeywell's spin-off of Garrett and its accounting for asbestos-related liabilities. Kirkland won full dismissal after oral argument.

Plymouth County Retirement Assoc., et al. v. Array Technologies, Inc. et al. (S.D.N.Y.)

Obtained the complete dismissal of a consolidated putative class action against Oaktree Capital Management and certain of its affiliates and professionals alleging violations of federal securities laws and breach of fiduciary duty arising out of Array Technologies Inc.’s initial public offering and its secondary public offerings.

Brokerage Jamie Goldenberg Komen Rev. Trust v. Breyer, et al. (Del. Ch.)

Won complete dismissal in 2020 for certain former officers and directors of Twenty-First Century Fox, Inc. (21CF) (including Co-Executive Chairmen Rupert Murdoch, Lachlan K. Murdoch, CEO James R. Murdoch) and Fox Corporation, of a shareholder action arising out of 21CF’s $73.1 billion merger with The Walt Disney Company. The plaintiff, a stockholder of 21CF, alleged breaches of fiduciary duty and unjust enrichment related to certain compensation awards made by 21CF’s compensation committee to the Murdochs.

Perez v. Target (D. Minn.); Gervat v. Cornell, et al. (Minn. Dist. Ct.); Craig, et al. v. Target, et al. (M.D. Fla.)

Representing Target and numerous of its current and former directors as lead counsel in securities litigation and shareholder derivative litigation relating to inventory statements as well as securities litigation arising out of Target's Pride collection. Kirkland secured dismissal of securities action related to inventory statements.

In re The Boeing Company Aircraft Securities Litigation (N.D. Ill.)

Representing Boeing in a consolidated putative securities class action alleging Boeing issued false and misleading statements to shareholders regarding the 737 Max Aircraft. Kirkland won dismissal of certain claims alleging that Boeing made misleading statements responding to a 737 Max crash and claims brought against a former Boeing director.

Chopp v. Bradway, et al. (D. Del.); Seafarers Pension Plan v. Bradway, et al. (N.D. Ill.; 7th Cir.)

Obtained back-to-back wins in a one-week span for Boeing, securing dismissal of two separate derivative actions concerning its 737 Max Aircraft; one of these decisions was the first to apply a forum-selection bylaw that requires derivative actions to be filed in Delaware Chancery Court to a federal claim subject to exclusive federal jurisdiction.

3G Securities Litigation (N.D. Ill.; Del. Ch.; Del.)

Defended 3G Capital, formerly one of Kraft Heinz’s largest shareholders, in putative securities class action and related derivative litigation filed in Illinois federal court and the Delaware Court of Chancery related to a writedown of Kraft’s assets and the disclosure of an SEC investigation. Kirkland won complete dismissal of the Delaware derivative actions and the Illinois derivative case. First Delaware dismissal affirmed on appeal. Settlement achieved in class action.