Medtronic
FTI’s Trial Services and Technology played a big part in inventor Dr. Gary Michelson’s $582 million jury award from his patent infringement countersuit against Medtronic Sofamor Danek, Inc. FTI Technology's Attenex's Patterns search software was used to navigate hundreds of gigabytes of data during electronic discovery, and FTI's TrialMax software for trial presentation.
Adecco
Retained by the Independent Monitor of Adecco, a Fortune 100 company, to respond to SEC and other government/regulatory agency inquiries into the adequacy of internal controls and related financial accounting issues. Conducted investigations to assist an independent monitor to review all allegations. FTI assisted and advised the Monitor and Counsel in pursuing financial issues around the world by fielding a multidisciplinary team of financial auditors and investigators, SEC advisors, computer forensic specialists and data analysis experts.
Adelphia
FTI's Forensic and Litigation Consulting were the financial consultants on behalf of the secured lenders to Adelphia to assist in a suit filed which asserted, among other things, alleged participation in a fraudulent scheme and breach of fiduciary duty.
Kmart
FTI assisted counsel to the Financial Institutions Committee of Kmart in connection with the accounting investigation undertaken by the Audit Committee focusing on alleged improper accounting treatments utilized by the company and potential misuse of corporate funds and resources by Management. FTI’s work included, but was not limited to, participating in the interviews of current and former employees and executives, providing assistance to counsel for Rule 2004 depositions of executives and directors, and reviewing the Debtors’ forensic accountants’ work papers to investigate the accounting and revenue recognition issues related to vendor allowances and other items.
FTI expanded the scope of Jones Day's original retention of FTI on behalf of one of the Kmart Unsecured Creditors Committee mainly comprised of financial institutions to review and participate as appropriate in the Stewardship and accounting investigation being conducted by the Company.
Worldcomm - MCI
FTI was retained by counsel to certain underwriters in the WorldCom Securities Litigation to offer expert opinions concerning the underwriters’ reliance, in connection with their due diligence for bond offerings, on documents issued by WorldCom’s independent accountant. FTI’s expert opinions also addressed the difficulty in uncovering the fraud given the active concealment by WorldCom’s senior management. FTI was tasked with assisting counsel in explaining to the jury the difference between the role of an accounting and auditing expert versus that of an underwriter.
In addition to offering expert opinions in these areas, FTI assisted counsel in creating graphics for trial and provided mock jury consulting services.
Global Crossing
At the request of the Audit Committee of the Board of Directors, FTI conducted numerous interviews of company personnel to ascertain facts relating alleged inappropriate barter transactions and fictitious revenues.
MLB
FTI Technology played a substantial role in the independent investigation into the illegal use of steroids by players in Major League Baseball. FTI assisted with the collection and search of electronic records from the Commissioner’s Office and a number of the MLB clubs. During the twenty month inquiry, FTI relied on its proprietary Ringtail Legal technology for the document review process.
Valassis Communications, Inc.
FTI's Corporate Finance and Forensic and Litigation Consulting segments provided valuation, IT, due-diligence and advertising expert reports, along with court room demonstratives, for Valassis Communications, Inc. suit to cancel its agreement to purchase ADVO, Inc. for $1.3 billion. ADVO agreed to settle with Valassis for a reduced purchase price of $32 per share, down from the original $37 per share.
Whole Foods
The FTC sought to block the merger of Whole Foods and Wild Oats claiming the merger would eliminate competition. In less than two weeks, and in a two-day expedited hearing, FTI Trial Services refined the defendats' themes through effective and persuasive use of graphics and trial technology. The FTC claim was denied, and Whole Foods and Wild Oats were cleared to proceed with the merger. A subsequent appeal by the FTC also was denied by the appeals court, sealing the victory for Whole Foods and Wild Oats.
Top Restructuring Engagements
Our professionals have advised management, bank groups and unsecured creditors in the most significant restructurings and turnarounds in recent years, including:
- AbitibiBowater
- Aventine Renewable Energy
- Charter Communications
- Circuit City
- Delphi
- Fleetwood Partners
- General Growth Partners
- General Motors
- Lehman Brothers
- LyondellBassell
- Magna Entertainment
- R.H. Donnelley
- Ritz Camera
- Visteon Corp.
- Washington Mutual