Representing Shareholders, Employees, and Consumers for Over 30 Years

News

News & Investigations

News and Investigations

We're actively investigating new cases on behalf of consumers, employees, and shareholders. If you've purchased any of these consumer products or own stock in any of these companies, please contact us to discuss your legal rights.

 

Schubert Firm Announces Final Approval of $16.25 Million Toll Brothers Settlement

71576_db933a51777ac21fb821b577c64694ee_17686d01cee69f5c45b6982a23afebed.jpg

On March 15, 2013 the Delaware Chancery Court approved a $16.25 million settlement of claims that officers and directors of Toll Brothers Inc. (TOL), a luxury homebuilder, breached their fiduciary duties by making false statements and trading on inside information. The case settled after plaintiff’s counsel reviewed over 70,000 pages of documents and took nineteen depositions.

In the course of the case we obtained a key ruling rejecting defendants’ arguments that Delaware’s leading insider trading precedent, Brophy v. Cities Service Co., 70.A.2d 5 (Del. Ch. 1949), was outdated and should be overruled. 

Read the full opinion: Pfeiffer v. Toll, 989 A.2d 683 (Del. Ch. 2010)