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| Thomas G. Ong v. Sears, Roebuck & Co. Inc. |
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Goldman Sachs & Co.
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| We successfully represented Bear Stearns & Co., Credit Suisse Securities (USA), LLC, Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, Lehman Brothers, and Merrill Lynch & Co., Inc. in a purported securities class action arising from three 2002 debt offerings by Sears Roebuck Acceptance Corp. (SRAC) filed in the U.S. District Court for the Northern District of Illinois. The complaint alleged violations of Section 10b of the Exchange Act and Sections 11 and 12 of the Securities Act against SRAC, its parent, Sears Roebuck & Company, various officers and directors of those companies and the respective lead underwriters of the debt offerings. We successfully moved to dismiss the Section 11 and 12 claims against three of our clients in their entirety, and won a partial motion to dismiss on behalf of two other clients. The court finally approved a settlement of all claims in the litigation, with the settlement to be funded entirely by the issuer. |
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