February 21, 2023
A Virginia federal judge has refused to award investors' counsel $17.5 million in fees for securing a $117 million derivative shareholder deal with tobacco giant Altria Group, awarding $15 million instead because of his "significant" involvement in revising the initial "paper tiger" settlement, which he said "rang hollow."
December 21, 2022
From a billion-dollar deal in Delaware to a hard-fought battle over a bribery scandal involving Ohio's legislature, securities litigators secured big settlements this year that sprang from both class actions and derivative suits, with a high number of resolutions occurring in Delaware Chancery Court.
December 21, 2022
The attorneys who secured a $117 million deal with tobacco company Altria Group on behalf of its investors will walk away from the litigation with $17.5 million if a Virginia federal judge approves their unopposed request for attorney fees.
October 26, 2022
A Virginia federal judge gave preliminary approval to the "enhanced" version of Altria Group investors' proposed $117 million settlement with the tobacco company on Wednesday after having called a previous version of the deal "inadequate."
October 18, 2022
Investors in tobacco company Altria Group Inc. on Tuesday asked a Virginia federal judge to give his blessing to an "enhanced" version of their proposed $117 million settlement with the company, a deal the judge had previously called "inadequate."
August 26, 2022
A Virginia federal judge declined to give the initial OK to a proposed $117 million settlement between tobacco giant Altria Group Inc. and shareholders in a consolidated derivative action, calling the deal "inadequate."
May 07, 2021
Tobacco behemoth Altria Group Inc. has asked a Virginia federal judge to disqualify Motley Rice LLC from being named co-lead counsel in a consolidated shareholder derivative suit against Altria and Juul Labs Inc. executives, saying Motley Rice has a conflict of interest because it is representing other clients currently suing Altria.
April 23, 2021
Motley Rice LLC, Scott + Scott Attorneys at Law LLP and two other firms have urged a Virginia federal judge to make them lead counsel in a consolidated shareholder derivative suit against Altria Group Inc. and Juul Labs Inc., over allegations Altria directors and officers ignored known risks when making a "disastrous" $12.8 billion investment in Juul.