Press Release January 15, 2012

Good Wins Update

Goodwin Procter’s litigation attorneys have delivered key victories on a wide range of complex legal matters for clients including:

Countrywide Financial

In SRM Global Fund Limited V. Countrywide Financial Corporation, a team of Goodwin litigators achieved a significant victory for client Countrywide Financial Corporation when the U.S. Court of Appeals for the Second Circuit affirmed dismissal of a securities fraud suit brought against Countrywide by SRM Global Fund Limited Partnership, a multibillion-dollar offshore hedge fund.

The suit alleged that Countrywide had concealed its true financial condition from investors in the months leading up to its $4 billion merger with Bank of America Corporation in July 2008. The federal district court granted Countrywide’s motion to dismiss the case, holding that SRM had not adequately alleged facts showing that Countrywide had failed to disclose material information or suggesting any intent to defraud.

To read more on this matter, click here.

Vineyard Gazette

Goodwin Procter won a complete victory for the award-winning subscription newspaper, the Vineyard Gazette, when the Massachusetts Superior Court dismissed defamation and intentional infliction of emotional distress claims brought by the former Chief of Staff for former Georgia Senator Max Cleland after the Gazette covered the Senator’s arrest.

The decision provides clarity and comfort to news outlets regarding the scope of the “fair report privilege” and the protections afforded to reports regarding unelected political advisors.

To read more on this matter, click here.

Makhteshim Agan

Goodwin Procter clients, agrochemicals' manufacturers Makhteshim Agan of North America and Control Solutions Inc., won a summary judgment of noninfringement from the U.S. District Court for the Middle District of North Carolina. Judge William Osteen Jr. found that that the clients’ fipronil containing pesticide product Taurus SC did not infringe any of the patents in a suit brought by chemical companies BASF Agro BV and Bayer SAS.

To read more on this matter, click here.