Girard Gibbs, acting as co-lead counsel on behalf of lead plaintiff the Kansas Public Employees’ Retirement System, obtained a settlement of $84.85 million with i2 Technologies and present and former executives Sanjiv S. Sidhu, Gregory A. Brady and William M. Beecher. In October 2004, the United States District Court for the Northern District of Texas granted final approval to the settlement which also required i2 to adopt a series of corporate-governance reforms.
This class action securities suit alleged that defendants made materially false and misleading statements about (1) the company’s financial condition and results, and (2) the purported ease of integrating i2’s software products with customer systems, which artificially inflated the mark price of i2’s common stock. The lawsuit was brought on behalf of investors who purchased or otherwise acquired i2’s common stock between March 22, 2000 and July 21, 2003.
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