We were co-counsel for Philip Morris in its successful appeal to the Supreme Court of Illinois of a record $10 billion judgment rendered in a Consumer Fraud and Deceptive Business Practice Act case, Price v. Philip Morris, 219 Ill. 2d 182 (2005), and again in its successful appeal in the Illinois Supreme Court from an order reinstating the $10 billion judgment as post judgment relief.
We represented the Chicago Board of Trade and its Directors in litigation in the federal, Illinois, and Delaware courts over the CBOT’s demutualization and were architects of a 2004 court-approved class action settlement of a dispute between members that was quickly followed with the CBOT's restructuring into a public company. We then played an active role in the historic merger between the CBOT and Chicago Mercantile Exchange and litigation relating to the merger. In the process, the value of each full member's equity in CBOT rose from less than $400,000 to over $7 million.
We represented the CBOT in litigation in the Delaware Court of Chancery and in SEC proceedings between its members and the Chicago Board of Options Exchange over CBOT members' claims to ownership interest in CBOE. The case resulted in a settlement which produced benefits to CBOT members valued at $1 billion. Chicago Board of Trade v. Chicago Board of Options Exchange, No. 2369-VCN (Delaware).
We represented the CBOT and CBOT Board of Directors in litigation in the Delaware Court of Chancery resulting from the CBOT's Board approval of the merger with the Chicago Mercantile Exchange and rejection of a competing proposal. Louisiana Municipal Police Employees' Retirement System v. CBOT Holdings, Inc., et al., No. 2803-VCN (Delaware).