Nicor Inc. (NYSE:GAS)

In the Nicor, Inc. shareholder derivative litigation, the plaintiffs brought claims for breach of fiduciary duty and unjust enrichment against several officers and directors of Nicor, Inc., one of the largest natural gas distributors in the United States. Plaintiffs alleged that Nicor’s management made material misrepresentations to and omitted material information from the Illinois Commerce Commission, the company’s shareholders and customers, and unlawfully manipulated the company’s performance results, resulting in substantial losses and damages to Nicor and its shareholders.

As co-lead counsel, Robbins Arroyo LLP attorneys defeated a very difficult motion to dismiss, obtained and reviewed over 170,000 pages of documentary evidence produced by Nicor, and participated in a full day mediation in an effort to settle the action. After diligently prosecuting the case for over three years, Robbins Arroyo LLP attorneys negotiated and secured personnel changes among Nicor’s executive officers and board members, as well as $33 million for Nicor.

In recognition of our attorneys’ work in the litigation, Judge Sophia H. Hall, presiding judge for the Circuit Court of Cook County in Illinois, praised the firm’s efforts, stating: “Thank you very much for the good work that you all did. And I think that your stockholders will appreciate it too. Thank you very much.”

In re Nicor, Inc. Shareholder Derivative Litigation, No. 02 CH 15499 (Ill. Cir. Ct. Mar. 29, 2005).

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