Corporate Governance

One of the most important aspects of pursuing securities litigation against corporate defendants is using the resolution process to strengthen the corporate governance of the defendant to limit the risk of future fraudulent conduct by company insiders, and thus to protect and maximize share value. Johnson & Perkinson advocates reforms in corporate governance that are tailored to the specific defendant corporations. Overarching themes in our pursuit of corporate governance reforms are strengthening the oversight of audit procedures by advocating increased independence and qualifications of the members of the Board of Directors through shareholder voting, and requiring the qualification and education of members of the company's Audit Committee. One example of Johnson & Perkinson's successful representation of the interests of an institutional investor was in regards i2 Technologies Securities Litigation, Civil No. 3:01-CV-418-H (U.S.D.N.Tex.), wherein, Johnson & Perkinson, serving as co-lead counsel, represented the interests of the Kansas Public Employees Retirement System and obtained final approval of a partial settlement of $84.85 million and significant corporate governance reforms in October of 2004.