The Firm is defending certain former members of the Board of Directors of BearingPoint Inc. against a lawsuit filed by a United States bankruptcy court-appointed trustee in charge of winding down BearingPoint’s business. A jury trial is scheduled to begin in Virginia Circuit Court in April 2013. The lawsuit alleges that the directors breached their duties to the company by failing to adequately oversee opportunities to sell the company before it filed for bankruptcy in 2009. The lawsuit seeks damages of $627 million to $1.9 billion.
Last week, after the Virginia state court judge ordered the case to proceed to trial, Paul Curnin was quoted on the Dow Jones newswire challenging the validity of the trustee’s claims and expressing confidence that the allegations will ultimately be rejected. “The trustee, who was a senior lawyer at BearingPoint, never raised these concerns until later when he was in a position to earn a recovery,” Curnin said.
The STB team consists of Paul C. Curnin, William T. Russell, Paul C. Gluckow, Craig S. Waldman, Michael Castiglione, Joshua Slocum, Rob Annis, Susan Greene, Kelly Hodges, Stephanie Weiner, Andrew Blumberg, Jay Atkinson, David Caldwell, Erin Lein, Brian Rifkin, Colin Rolfs and summer associate Marissa Cohen.