In re Williams Securities Litigation
In a recent case involving 10b-5 and section 11 claims, Analysis Group provided damages testimony and consulting support to counsel for defendant Ernst & Young, auditors for Williams and WCG. The case involved allegations that Williams, an energy company, misled investors when it spun off WCG, its telecom subsidiary, in 2001.
Retained by Latham & Watkins, counsel for Ernst & Young, Analysis Group critiqued the plaintiffs’ damages methodology and estimates. Analysis Group Managing Principal Bruce Deal, together with Principal David Sosa, coordinated our consulting assistance on damages and causation issues, while Managing Principal Keith Ugone filed an expert report on damages. Analysis Group provided support to Ernst & Young’s counsel in the preparation of its motion to exclude plaintiffs’ expert’s testimony with respect to loss causation and damages and its motion for summary judgment. In July 2007 Ernst & Young’s motions were granted.