Selected Achievements

Bragar Eagel & Squire, P.C. has successfully litigated cases in state and federal courts across the country and has secured hundreds of millions of dollars for the benefit of companies and their shareholders. The firm has also been involved in numerous precedential decisions. Listed below are a selected number of the firm’s noteworthy accomplishments:

Brinckerhoff v. Enbridge Energy Company, Inc., et al. (Del. Ch.)
Bragar Eagel & Squire, P.C. prosecuted claims on behalf of a publicly traded Master Limited Partnership, Enbridge Energy Partners, L.P. (the “Company”), against its general partner and sponsor in connection with the Company’s repurchase of a two-thirds interest in an asset which the Company had sold to the general partner several years earlier. Subsequently, the general partner acquired the Company. Following extensive litigation, the Delaware Court of Chancery held that Bragar Eagel & Squire, P.C. had created a benefit for the Company’s unitholders in excess of $100 million.

In re Activision Blizzard, Inc. Stockholders Litigation (Del. Ch.)
Bragar Eagel & Squire, P.C. secured a $275 million settlement for the benefit of Activision Blizzard, Inc. (the “Company”) in connection with a transaction whereby the Company’s Chief Executive Officer and its Co-Chairman caused the Company to purchase shares of its stock at excessive prices from Vivendi, S.A., which had been one of the Company’s largest stockholders. In addition to the cash settlement, the largest in history for a derivative action, Bragar Eagel & Squire, P.C. secured an agreement for the Company to add two independent directors to the its board and to place limitations on the CEO’s and the Co-Chairman’s voting power.

“Camel Cash” Class Action Lawsuit (Sateriale v. R.J. Reynolds Tobacco Co., Inc.) (N.D. Cal.) 
Bragar Eagel & Squire, P.C. was appointed to represent a class of California adult smokers who purchased packs of Camel cigarettes and collected Camel Cash, or “C-Notes,” as part of the Camel Cash loyalty program.  The class asserted claims that Reynolds breached its contract with program members when, on October 1, 2006, Reynolds removed all of the non-tobacco related merchandise from the Camel Cash program, and program members could redeem C-Notes only for cigarettes or coupons for dollars off cigarettes.  In 2012, we obtained a victory before the United States Court of Appeals for the Ninth Circuit reversed the district court’s dismissal of the complaint.  Pursuant to a settlement reached in 2016, Reynolds will offer Class Members the opportunity to use C-Notes that they collected and held as of October 1, 2006, to redeem for non-tobacco merchandise. Class Members can participate in the Settlement even if they no longer hold their C-Notes.  Reported decisions at 697 F.3d 777; 2014 U.S. Dist. LEXIS 176862 (denial of defendant’s motion for summary judgment); 2014 U.S. Dist. LEXIS 176858 (granting in part class certification).

Gerber v. Enterprise Products Holdings, LLC (Del. Ch.) 
Bragar Eagel & Squire, P.C. served as lead counsel for derivative and class claims arising out of a variety of master limited partnership transactions, alleging that the general partner’s approvals of the transactions were done in bad faith and in breach of the implied covenant of good faith and fair dealing.  One action was settled by defendants agreeing to a merger that increased the value of the limited partnership units by approximately $400 million.  In another action, after the trial court dismissed the complaint, we prevailed before the Delaware Supreme Court to reinstate the claims for breach of implied covenant.  The matters settled for $12.4 million for the Master Limited Partnership unitholders.  Reported decision at 67 A.3d 400 (Del. Ch. 2012).

Riverhead Motors v. Ronald Siegel, et. al. (N.Y. Sup. Ct., N.Y. Cnty.)
Bragar Eagel & Squire, P.C.  represents an automobile dealership suing its former manager and comptroller who were engaged in a fraud that cost the dealership more than $4 million.  The case involves showing the manager and comptroller took advantage of a flaw in a bank’s system for lending and then hid the fraud from both the bank’s auditor and management.

Bennett Funding Litigation (S.D.N.Y.)
Successfully served as co-lead counsel and special insurance counsel to plaintiff’s lead counsel in class actions in both the Federal District Court, Southern District of New York and the Bankruptcy Court of the Northern District of New York.  Actions settled suits against Assicurazioni Generali, S.p.A. Company for $125 million as reported at 258 B.R. 78 (Bankr. N.D.N.Y. 2000) and against Sphere Drake Insurance PLC for $27.5 million, as reported at 439 F.3d 155 (2d Cir. 2006). The matter involved a ponzi scheme and dealt with complicated issues of identification of beneficiary of insurance policies and intersection of bankruptcy and securities laws and of equities between class members and creditors of bankrupt estate.