Settled Cases

Branstetter, Stranch & Jennings, PLLC has been involved in a number of class actions, shareholder derivative, securities, and other complex cases both in Tennessee state courts and federal courts throughout the nation. The firm's efforts have produced significant monetary recovery and/or benefits for plaintiffs from many jurisdictions. While the firm has also defended numerous such actions, the following is a list of some of the notable complex litigation cases that the firm has prosecuted to a successful conclusion

  • In re Xcel Energy, Inc. ERISA Litigation, Civ. 02-2677 (D. Minn.) (Doty). Co-lead counsel in a 401k/ESOP class action suit brought on behalf of the pension plan against fiduciaries of Providian Financial Corp. for violation of duties owed under ERISA. Settlement reached that provided an $8.6 million cash payment to the Plan for participants, lifted stock restrictions in the Plan with a value between $38 million and $94 million, and allowed the Plan to recover in parallel securities action.
  • In re: Qwest Savings and Investment Plan ERISA Litigation, No. 02-RB-464, (D. Colo.) (Blackburn). Co-lead counsel in a 401k/ESOP class action suit brought on behalf of pension plan participants against fiduciaries at Qwest Communications and the Trustee, Bankers Trust/Deutsche Bank, for violation of duties owed under ERISA. A settlement was reached which provided a $33 million cash payment from Qwest Communications to the Plan for participants, a $4.5 million cash payment from Bankers Trust/Deutsche Bank to the Plan for participants, a $20 million guarantee from Qwest Communications from a parallel securities action with the opportunity of more cash from the parallel securities action, and an undetermined amount of cash from a distribution through the U.S. Securities and Exchange Commission Fair Fund established pursuant to Section 308 of the Sarbanes-Oxley Act of 2002, 15 U.S.C. SS7201 et seq.
  • Dollar General Derivative Litigation (Dixon et al. v. Turner, et al.), Case No. 01C-1322 (Davidson County Circuit) (Judge Shipley). Lead counsel in derivative action against directors of Dollar General Corporation alleging breaches of fiduciary duties, waste of corporate assets, unjust enrichment, and gross mismanagement. Settlement reached is believed to be the largest derivative settlement in Tennessee history.
  • Plumbers & Pipefitters Local 572 Health & Welfare Fund et al. v. Bristol-Myers Squibb Co., Case No. 00-C-2524, (Davidson County Circuit) (Judge Shipley). Lead counsel in a shareholder derivative action against directors of Dollar General Corporation alleging breaches of fiduciary duties, waste of corporate assets, unjust enrichment, and gross mismanagement. Settlement reached for a $31.5 million cash payment to the corporation and significant corporate governance changes. The settlement is the largest derivative settlement in Tennessee history.
  • In re: Columbia Health Care Corporation Billing Practice Litigation, Civ. No. 3-98-MDL-1227 (M.D. Tenn.) (Higgins). The firm served as liaison counsel in a multi-district litigation brought on behalf of all third-party payers against Columbia Health Care Corporation/HCA Healthcare Corporation alleging over-billing for services. Settlement was reached on a cash payment, modifications in billing documents and admission practices.
  • Sherwood et al. v. Microsoft Corporation, Civ. No. 99-C-3562 (Davidson County Circuit Court) (Judge Kurtz). Lead counsel in a consumer and indirect purchaser Tennessee class action against Microsoft Corporation alleging violation of the Tennessee Consumer Protection Act and the Tennessee Trades Act. Settlement was reached that was valued at $64 million. The settlement included a $30 million cy pres to the Tennessee Commissioner of Education.
  • Central Laborers' Pension Fund v. Chellegren, Civ. No. 02-CI-02174 (Kenton County Circuit, Kentucky). Settlement in a shareholder derivative action against the Board of Directors and certain officers at Ashland, Inc. relating to accounting practices which harmed the company. The settlement resulted with a cash payment and significant corporate governance changes.
  • Clayton Homes Derivative Litigation, Case No. E-19723 (Blount Circuit, Tennessee) (Young). Lead counsel in a shareholder derivative action originally against the Board of Directors and certain officers at Clayton Homes for breaches of fiduciary duties and corporate waste. During the litigation, Clayton Homes was purchased by Berkshire Hathaway. Settlement was reached with shareholders obtaining for money for their shares of Clayton Homes in the purchase.
  • National Commerce Financial Derivative Litigation, (CT-002672-04)(Shelby County Circuit, Tennessee). Counsel in a shareholder action contesting the value of National Commerce stock in its merger with SunTrust. Settlement was reached.
  • Lankford v. Dow Chemical et al., (No. 04-1517) (Davidson County Circuit, Tennessee) (Shipley). Lead counsel in a consumer and indirect purchaser class action filed on behalf of Tennessee purchases of products containing neoprene against Dow Chemical Company, E.I. du Pont de Nemours and DuPont Dow Elastomers LLC alleging violation of the Tennessee Consumer Protection Act and the Tennessee Trades Act. A multi-state settlement was reached that was valued at $4.2 million, with a $2.93 million cy pres to the Vanderbilt Law School.
  • Ewing et al. v. Neuhoff, et al., (Law and Equity Court, Montgomery County) (Judge Boles). Lead counsel in a class action that resulted in a successful jury verdict against directors of Frosty Morn, Inc. for unlawful activities in running the corporation that directly impacted employee benefit plans. Employees received 100% of their losses.
  • In re Providian Financial Corp. ERISA Litigation, No. C 01-5027 (N.D. CA.) (Breyer). Co-lead counsel in a 401k/ESOP class action suit brought on behalf of the pension plan against fiduciaries of Providian Financial Corp. for violation of duties owed under ERISA. Settlement reached that provided an $8.6 million cash payment to the Plan for participants, lifted company stock sales restrictions in the Plan valued between $3.66 million and $5.85 million, and allowed the Plan to recover in a parallel securities action.
  • AFC Enterprises Derivative Litigation, Civil No. 1:03-CV-2095TWT (N.D. Ga.) (Thrasher). One of three lead counsel in a shareholder derivative action against the Board of Directors and certain officers at AFC Enterprises alleging various breaches of fiduciary duty, abuse of control, and waste of corporate assets resulting from improper accounting practices and insider trading. Settlement was reached which provided for corporate governance changes.
  • In re Dynegy, Inc., Derivative Litigation, (Harris County, Texas) (Jamison). Co-lead counsel in a shareholder derivative action against the Board of Directors and certain officers at Dynegy, Inc. alleging various breaches of fiduciary duty, abuse of control, and waste of corporate assets. Settlement was reached with significant corporate changes and resignation of key corporate officers and certain directors.
  • In re High Pressure Laminates Anti-Trust Litigation, Civ. No. 00C-1989 (Davidson County Circuit)(Judge Shipley). Firm is serving as co-lead counsel in a consumer protection class action against manufacturers of high pressure laminates ("HPL")(such as used for counter tops). Parties have reached a partial settlement.
  • In re Global Crossing ERISA Litigation, No. 02 Civ. 7453 (S.D. N.Y.) (Lynch). One of several counsel in a 401k/ESOP class action suit brought on behalf of pension plan participants against fiduciaries at Global Crossing for violation of duties owed under ERISA. Settlement reached that provided a $79 million cash payment to the Plan for participants and allowed Plan to recover in parallel securities action.
  • In re Direct General Corporation Derivative Litigation, (M.D. Tenn.) (Campbell). Filed a shareholder derivative action against the Board of Directors and certain officers at Direct General Corporation alleging various breaches of fiduciary duty, abuse of control, and waste of corporate assets resulting from financial manipulations and insider selling. Settlement pending.
  • Accredo Health Derivative Litigation, Case No. CT-002203-03 (Shelby County Circuit, Tennessee) (Judge Fields). Co-lead counsel in a shareholder derivative action against the Board of Directors and certain officers at Accredo Health alleging various breaches of fiduciary duty, abuse of control, and waste of corporate assets. Accredo merged during the litigation. A settlement is pending.
  • Provident Financial Derivative Litigation, No. C-1-08-168 (S.D. Ohio). Counsel in a shareholder derivative action against the Board of Directors and certain officers at Provident Financial alleging various breaches of fiduciary duty, abuse of control, and waste of corporate assets. Settlement was reached.