Press Release April 17, 2014

Good Wins Update

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

Goodwin Procter Secures Appellate Win for Municipal Mortgage & Equity Co.

Goodwin litigators recently secured a significant victory when the U.S. Court of Appeals for the Fourth Circuit affirmed the dismissal of class action securities claims brought against firm clients, Municipal Mortgage & Equity, LLC (“MuniMae”) and several of its former and current officers and directors, as well as the lead underwriters in MuniMae’s 2005 secondary public offering (“SPO”).

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Goodwin Procter Wins for Applied Materials in Arbitration Over Failed Sales Negotiations

Goodwin Procter litigators recently achieved a complete victory for client Applied Materials, Inc. when a three-judge arbitration panel issued a Final Award dismissing with prejudice all claims against Applied Materials. Claimants Solar Morph PTE Ltd. and Oppenheimer Investments Jersey Ltd. (no affiliation to Oppenheimer Funds) had sought substantial damages, including lost profits and expenses.

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Goodwin Attorneys Prevail for Teva in Sixth Circuit Generic Drug Appeal

The United States Court of Appeals for the Sixth Circuit recently affirmed the Western District of Tennessee’s grant of a motion to dismiss for Goodwin client Teva Pharmaceuticals USA, Inc. in a products liability action involving the prescription drug metoclopramide. The Sixth Circuit’s ruling was based on the doctrine of federal preemption and, specifically, the United States Supreme Court’s June 2011 decision in PLIVA, Inc. v. Mensing, a victory Goodwin Procter helped achieve for Teva.

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Goodwin Litigators Secure Second Circuit Win for Mutual Fund Trustees in Shareholder Derivative Suit

Goodwin Procter litigators won a significant victory before the U.S. Court of Appeals for the Second Circuit on behalf of the independent trustees of a group of mutual funds. The Second Circuit’s decision vindicates the corporate governance rights of the board of a registered investment company organized as a Massachusetts business trust. The court’s ruling addresses the business judgment rule and the independence of mutual fund directors and trustees in the face of shareholder derivative litigation challenging their own conduct.

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Goodwin Litigators Win Dismissal of Class Action for Metabolix

Goodwin securities litigators recently obtained the complete dismissal with prejudice of a securities class action suit brought against Metabolix, Inc. and its senior management in the U.S. District Court for the District of Massachusetts. Metabolix, a bioscience company based in Cambridge, Mass., includes among its products a bioplastic marketed under the trade name Mirel, which presents a biodegradable, but functionally equivalent, alternative to petroleum-based plastics.

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