RSM EquiCo, a subsidiary of accounting firm giant RSM McGladrey, was sued in a class action filed in California state court for fraud, breach of contract, and other commercial torts, seeking hundreds of millions of dollars in damages. After over five years of protracted litigation and multi-hundred-million dollar settlement demands, Murphy, Falcon & Murphy was hired to join O’Melveny & Myers in the defense of the action at trial.
Murphy, Falcon & Murphy fought to defend the commercial reputation of RSM EquiCo and its corporate parent against claims of fraud.
As trial approached, our team of attorneys negotiated a $41.5 million class action settlement on behalf of all defendants, which included a reversion of all unclaimed settlement funds back to the defendants. The firm also devised a novel notice and claims regime, given the size of the claims, to reduce the risk of fraud during the claims process.