On December 19, 2012, the court granted final approval of the $23.5 million settlement in In re Constar Int’l Inc. Sec. Litig., pending since September 2003 in the United States District Court for the Eastern District of Pennsylvania. Plaintiffs asserted claims arising out of a November 2002 initial public offering of Constar International stock.
The case was notable for the lengths to which Defendants fought the allegations. The case settling on the eve of trial after 9 years, and included a trip to the Court of Appeal for the 3rd Circuit which resulted in a complete victory for Mr. Brown and his team. In re Constar Int’l Inc. Sec. Litig., 585 F.3d 774 (3d Cir. 2009).