Federal Securities Cases

In re Diamond Foods, Inc. Sec. Litig., United States District Court for the Northern District of California, Case No. 11-05386-WHA. 

Mr. Keller was co-lead counsel in an action arising out of Diamond Foods’ misleading reporting of payments made to walnut growers.  Near the end of fact discovery, the case settled for a payment of $11 million in cash and 4.45 million shares of common stock valued at $116 million at the time of final approval.

In re Arthrocare Corp. Sec. Litig., United States District Court for the Western District of Texas (Austin), C.A. No. 08-cv-00574-SS. 

Mr. Keller was co-lead counsel in an action alleging that Arthrocare had participated in an elaborate fraud involving the inappropriate use of its medical device to treat back injuries in workers’ compensation cases.  After discovery, the case settled for $74 million.

In re TyCom Ltd. Sec. Litig. (Stumpf v. Garvey, No. 03-cv-1352), U.S. District Court, District Of New Hampshire, MDL No. 02-1335-B. 

Mr. Keller was co-lead counsel in this action alleging that Tyco International overstated demand for an undersea fiber optic network that its subsidiary, Tycom, was constructing.  After completion of discovery and briefing of summary judgment motions, the action settled for $79 million.   

In re Maxim Integrated Products, Inc., Sec. Litig., U.S. District Court for the Northern District of California, C.A. No. C-08-00832-PVT. 

Mr. Keller was co-lead counsel in this options backdating class action.  The case settled for $173 million.

In re Beazer Homes USA, Inc., Sec. Litig., United States District Court for the Northern District of Georgia, C.A. No. 1:07-CV-725-CC. 

Mr. Keller was co-lead counsel in this action involving Beazer’s home purchase lending practices.  The case settled for $30.5 million.

In re Friedman’s Inc. Sec. Litig., United States District Court for the Northern District of Georgia, Civil Action No. 1:03-CV-3475-WSD.  Mr. Keller was co-lead counsel in this action alleging that Friedman’s had misrepresented the adequacy of its loan loss reserves.  The case settled for $14.9 million during document discovery.

In re BellSouth Corp. Sec. Litig., United States District Court for the Northern District of Georgia, C.A. No. 1:02-CV-2142-WSD.

Mr. Keller was co-lead counsel in this action asserting that BellSouth had failed to test for goodwill impairment of certain acquired businesses.  The case settled for $35 million at the conclusion of fact discovery.

In re Providian Financial Corp. Sec. Litig., United States District Court for the Northern District of California, No. C-01-3952-CRB. 

Mr. Keller was retained as special trial counsel in this case alleging that Providian had misrepresented loan loss reserves on its sub-prime credit card accounts.  The case settled for $65 million the day before trial was to begin.