Nix Patterson, LLP

NPR’s $38.25 Million Deloitte & Touche Settlement Approved

On June 26, 2008, United States District Judge Gerald Rosen, of the Eastern District of Michigan, entered an order granting final approval of a $38.25 million settlement between Lead Plaintiffs and Defendant Deloitte & Touche LLP. The Court’s order renders a final judgment in the securities fraud case against Deloitte, which arose from its role

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NPR Reaches Large Securities Settlement on Behalf of Public Retirement System

Nix Patterson & Roach reached a settlement in a securities class action, in which they served as co-lead counsel, on behalf of its client, the Arkansas Public Employees Retirement System.  The $160 million settlement will return funds to stockholders of Brocade Communications Systems, Inc. based on the company’s improper back-dating of stock options.  Gail Stone

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NPR Secures $38 Million From Deloitte in Securities Class Settlement

Accounting firm Deloitte & Touche has agreed to pay $38.25 million to settle claims that it helped bankrupt auto parts maker Delphi Corp. in committing securities fraud.  This case was a separate arm of securities litigation surrounding Delphi’s restating of its financials  from 2005 back to its original split from General Motors in 1999. Deloitte

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