In re Service Corp. International
Wolf Popper LLP was a co-lead settlement counsel for the plaintiff class in In re Service Corp. International, Civil Action No. H-99-280 (S.D. Tex.), arising out of material misrepresentations made in connection with Service Corp.’s January 1999 stock-for-stock acquisition of Equity Corp. International. Based on the strength of the amended complaint, and presentation at mediation sessions, Wolf Popper recovered $65 million for the plaintiff class. Notably, the settlement, approved in 2004, was supported by institutional investors who recognized it to be an extraordinary recovery especially since there were no allegations of insider trading, no SEC investigation, no accounting restatement, and the court had never decided the motion to dismiss which had been pending for four years.