Had the plaintiff prevailed in this case, investment firms might have had to reconsider actively managing portfolios for their clients.
During a two-year period, an Analysis Group case team supported six external experts, who provided consulting and testimony in the areas of portfolio management, accounting, corporate compliance control, corporate governance, and damages in this case.
In a landmark trial victory, a Florida jury found Analysis Group client Alliance Capital Management (ACM) not liable for the losses incurred by the Florida Retirement System pension fund as a result of the investment firm’s investments in Enron stock. Alliance Capital had invested a portion of the Florida pension fund's money in Enron stock, and the fund lost more than $280 million when Enron collapsed. The Florida State Board of Administration (FSBA) sued Alliance for more than $1 billion in damages for allegedly failing to sufficiently research Enron and for not following an agreed-upon investment strategy. Analysis Group was retained by defense counsel for Alliance.
After evaluating expert testimony from the plaintiffs and the defense, the jury found Alliance Capital not liable on all counts. The jury also ruled that Alliance was entitled to recover advisory fees from the FSBA.
Patricia Chadwick, Ronald Gilson, R. Glenn Hubbard, Michael Koehn, John Lacey, and Laura Starks.
Managing Principals Mark Egland, D. Lee Heavner, and Marc Van Audenrode; Vice Presidents Ahmer Nabi, Eric Nguyen, Mike Nguyen, and Jimmy Royer; and affiliate Stanley Ornstein.
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