|
Krislov
& Associates has also been involved in complex corporate
shareholder and takeover litigations, including In
Re Prudential-Bache Energy Income Partnerships Securities
Litigation, MDL No. 888 (E.D. La.), where the firm
was a lead Objectors' counsel, credited with blocking
an early low cash rollup settlement, forcing an auction
and finding the high-bid purchaser who ultimately paid
$508 million for the auctioned partnerships. Objectors'
efforts also helped produce an improved settlement of
$120 million additional cash from Prudential Securities.
Krislov subsequently initiated the Massad v. Prudential
Insurance Co. global Civil RICO case against Prudential
Securities, which became the global civil RICO case
In Re Prudential Securities, Inc. Limited Partnerships
Litigation, MDL No. 1005 (S.D.N.Y.), in which settlements
now exceeds $110 million cash have been produced for
limited partnership unit-holders nationwide. See
163 F.R.D. 200 (S.D.N.Y. 1995) (preliminary approval);
912 F. Supp 97 (S.D.N.Y Jan. 24, 1996) (award of fees
following final approval). Other representative cases
include: In Re Scattered Corp., N.D. Ill., No.
93 C 4069 (Co-lead Plaintiffs' counsel in a case challenging
massive short-selling of LTV common shares); Lyphomed
Shareholder Litigation, Cook Co. Cir. Ct., No. 89
CH 7585, (Lead counsel in shareholder litigation over
Fujisawa takeover); Starr v. Graham Energy, (Counsel
for Objectors in New Jersey and for Plaintiffs in Delaware
derivative litigation); Hooker v. JMB/Arvida,
N.D. Ill., No. 92-C-7148 (Co-lead objectors' counsel
against settlement of investor class' loss of entire
$234 million investment for $6 million); In re Domestic
Air Transp. Antitrust Litig., MDL No. 861, ---F.R.D.---
(N.D. Ga.) (Krislov firm was one of the Objectors' counsel
and was instrumental in identifying problem areas of
the widely criticized settlement and eliminating the
prohibition on use of the settlement coupons through
travel agents); and Michael Milken and Associates
Securities Litig., MDL No. 924 (S.D.N.Y.) (Krislov
was a member of the nationwide Allocation Committee
of the plaintiffs' counsel).
Krislov
& Associates has a nationwide reputation for contesting
unfair "rollup" transactions in which limited
partnerships are consolidated into new listed corporate
entities in which existing management obtains an unfair
proportion of the surviving entity. Krislov has been
lead or co-lead counsel in cases in Delaware, Preim
v. Franchise Finance Corp. of America, De. Ch. C.A.
No. 13192 (10% reduction of management share in $900
million rollup), in Louisiana, In re Prudential-Bache
Energy Income Partnerships Securities Litigation,
MDL No. 888 (forced $500 million auction plus improved
$120 million settlement); and in California, Blumberg
v. Glenborough Realty Corp., No. 391223 (Cal. Super.
Ct. San Mateo Co.) ($100 million real estate rollup).
|
