Articles from Entwistle & Cappucci LLP

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced it has filed a class action complaint in the United States District Court for the District of Delaware (the “Court”) against Capri Holdings Limited (“Capri”), Tapestry Inc. (“Tapestry”) and certain Capri and Tapestry senior officers and directors (collectively, “Defendants”) on behalf of a class (“Class”) consisting of all persons who purchased Capri common stock or sold Capri puts between August 10, 2023 and October 24, 2024, both dates inclusive (collectively, “Class Members”).

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced that its ongoing investigation has led to the filing of a class action complaint against EngageSmart, Inc. (“EngageSmart” or the “Company”) and certain of the Company’s officers and directors (collectively, “Defendants”) on behalf of a class (“Class”) consisting of (1) public holders of EngageSmart common stock as of the December 21, 2023 record date who were entitled to vote on the “take-private” acquisition (“Merger”) of the Company by Vista Equity Partners Management, LLC and its affiliates (“Vista”) and (2) all persons or entities (excluding Defendants) that sold shares of EngageSmart common stock (NYSEESMT) from October 23, 2023, the announcement date of the Merger, through the close of the Merger on January 26, 2024 (the “Class Period”), including those who sold into the Merger and were damaged thereby (collectively, “Class Members”).

Entwistle & Cappucci LLP is pleased to report that today the Honorable John T. Dorsey of the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court” or “Court”) approved from the bench the Chapter 11 Plan (the “Plan”) of FTX Trading Ltd. (d.b.a. “FTX.com”) and West Realm Shires Services, Inc. (d.b.a. “FTX.US”), and their affiliated debtors (together, the “FTX Debtors”), pending the Court’s final review of the proposed confirmation order. Included in the approved Plan is the Customer Priority Settlement announced in October 2023, which will, along with other aspects of the Plan, enable eventual distributions to FTX.com and FTX.US customers of as much as 140% of their approved customer claims. This result would not have been possible without the substantial efforts and cooperation of the FTX Debtors, and in particular CEO John Ray and the Board, the Official Committee of Unsecured Creditors and the Ad Hoc Customers Committee.

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) and Saxena White P.A. (“Saxena White”) today announced that their ongoing investigation has led to the filing of a class action complaint against Focus Financial Partners Inc. (“Focus Financial,” “Focus” or the “Company”) and certain of the Company’s officers and directors (collectively, “Defendants”) on behalf of a class (the “Class”) consisting of (1) all persons or entities that sold shares of Focus Financial common stock (NASDAQFOCS) from February 27, 2023 through the closing of the “take-private” acquisition of Focus Financial by Clayton, Dubilier & Rice, LLC (“CD&R”) on August 31, 2023 (the “Merger”), including investors who sold their shares of Focus Financial common stock into the Merger, and (2) all persons or entities that held Focus Financial common stock on the June 9, 2023 record date for the Merger who were entitled to vote on the Merger.

Entwistle & Cappucci LLP today announced the settlement of that portion of its Customer Class Action that raised Customer property claims against FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors (together, the “FTX Debtors”), as part of the proposed settlement of Customer property disputes in the pending FTX chapter 11 cases (the “Customer Shortfall Settlement”). The Customer Shortfall Settlement resolves, among other things, Customer property litigation filed against the FTX Debtors by Entwistle & Cappucci LLP as part of a broader adversary Customer Class Action filed in the Bankruptcy Court against the Debtors and various individual defendants, including Sam Bankman-Fried and other insiders. The Customer property aspect of the class action litigation asserted that Customers of FTX.com and FTX US had property interests in certain assets, rather than an unsecured claim ranking equally with general creditors. The Customer Shortfall Settlement resolves the dispute by providing Customers a claim against the FTX Debtors that, although unsecured, has an equitable priority to certain property segregated at or taken from the exchanges.

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced that its ongoing investigation has led to the filing of a class action complaint against Emisphere Technologies, Inc. (“Emisphere” or the “Company”) and certain of the Company’s officers and directors on behalf of a class (the “Class”) consisting of all persons or entities that sold shares of Emisphere common stock (OTCBB: EMIS) from November 6, 2020 through December 8, 2020, inclusive (the “Class Period”). The case was filed in the United States District Court for the District of New Jersey and is captioned: S/M Merger Arbitrage, L.P. v. Emisphere Technologies, Inc., No. 23-cv-20898 (D.N.J.) (the “Action”).

The FTX Bankruptcy Court has set a Customer Claims Bar date (the “Bar Date”) of September 29, 2023 for the filing of Customer Claims for both the US Exchange and the Foreign FTX Exchange. You are not required to file a claim. However, if you do not file a claim before the Bar Date, you will be precluded from disputing the amount the Debtors have scheduled for your claim based upon their records. The Debtors are valuing all claims as of the date of the filing of the bankruptcy in USD regardless of currency held because all of the funds were commingled.

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) today announced that its ongoing investigation has led to the filing of a class action complaint against Cornerstone Building Brands, Inc. (“Cornerstone” or the “Company”) and several of the Company’s officers and directors, on behalf of holders of Cornerstone common stock as of May 16, 2022, the record date for the merger (“Merger”) of Cornerstone and Clayton, Dublier & Rice, LLC (“CD&R”), through the closing of the transaction on July 25, 2022 (the “Class”). The case was filed in the United States District Court for the District of Delaware and is captioned: Water Island Merger Arbitrage Institutional Commingled Master Fund, LP v. Cornerstone Building Brands, Inc., No. 1:23-cv-00701.

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) and Saxena White P.A. (“Saxena White”) today announced that their ongoing investigation has led to the filing of a class action complaint against Toronto-Dominion Bank (“TD Bank”) and several of its officers on behalf of all persons or entities that purchased or otherwise acquired securities of First Horizon Corporation (“First Horizon”) (NYSEFHN) between February 28, 2022 and May 3, 2023, inclusive (the “Class”). The case was filed in the United States District Court for the District of New Jersey, and is captioned: The Arbitrage Fund v. The Toronto Dominion Bank, No. 23-cv-2763 (D.N.J.).

This is a brief update on today’s legal developments relevant to Entwistle & Cappucci LLP’s ongoing investigation of FTX. We continue to speak with many Customers of FTX, Genesis and other platforms with frozen accounts, as well as various entities in which FTX and Alameda had investments. We focus only on this morning’s bankruptcy filings and leave the rest of the FTX reporting to others.

Entwistle & Cappucci LLP, a national firm specializing in complex fraud and bankruptcy litigation, led the recovery of billions of dollars for customers in connection with both the MF Global and Madoff frauds. MF Global (where customer funds were diverted by senior management to meet failed investment bets by corporate management, ultimately resulting in MF Global’s bankruptcy) and Madoff (where billions of dollars in customer funds were diverted by Madoff in an enormous Ponzi scheme resulting in the bankruptcy of the Madoff entities) bear an uncanny resemblance to the misuse and diversion of customer funds at FTX.

Entwistle & Cappucci LLP (“Entwistle & Cappucci” or “E&C”) today announced that the firm has filed a securities class action lawsuit on behalf of investors that purchased Emergent BioSolutions Inc.(“Emergent” or the “Company”) (NYSEEBS) common stock from April 24, 2020 through April 16, 2021, inclusive. A copy of the complaint is available at: www.entwistle-law.com. Institutions and individuals that invested in Emergent common stock may contact E&C for additional information concerning the litigation and to discuss potential strategies for the recovery of any losses.

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) is investigating potential federal securities law violations on behalf of clients that invested in Emergent BioSolutions Inc. (“Emergent” or the “Company”) (NYSEEBS) based on: (i) the Company’s contamination of at least 15 million doses of the Johnson & Johnson COVID-19 vaccine; (ii) Emergent’s failure to fix known manufacturing quality issues identified by federal regulators and internal audits; (iii) the Company’s repeated misstatements concerning its quality control, manufacturing process, compliance with applicable regulations and delivery schedule of the Johnson & Johnson vaccine; and (iv) the U.S. Department of Health & Human Services’ (“HHS”) resulting announcement that it was directing Johnson & Johnson to assume full responsibility for manufacturing its vaccine on a going-forward basis.