Law360 Highlights Robbins Geller’s $27.1 Million Recovery for Zayo Shareholders in Chancery Court

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February 16, 2024

Vindication for Zayo Group Holdings, Inc. shareholders came recently, following four years of hard-fought litigation and months of mediation.

Dan Caruso, Zayo co-founder and former CEO, stood accused of scheming to personally benefit from a take-private buyout of the Boulder, Colorado-based communications infrastructure and network services company. Caruso allegedly omitted crucial information from the proxy statement about his interactions with buyers before the buyout.

According to Law360, Vice Chancellor Paul A. Fioravanti, Jr., who approved the recovery, said plaintiffs’ counsel’s “‘reputation for tenacity and willingness to take the case to trial’ likely contributed to the size of the settlement.”

“We applaud our clients’ courage and drive in staying the course to hold Mr. Caruso to account and secure this recovery for the class,” said partner Christopher H. Lyons.

Robbins Geller Rudman & Dowd LLP attorneys representing the plaintiffs include Christopher H. Lyons and Randall J. Baron.

Read the Law360 article (login required): https://www.law360.com/articles/1784135/zayo-shareholders-27m-settlement-gets-chancery-s-ok

About Robbins Geller

Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex litigation firms, representing plaintiffs in securities fraud, shareholder derivative, antitrust, corporate takeover, and consumer fraud and privacy cases. With 200 lawyers in 10 offices, Robbins Geller is one of the world’s largest plaintiffs’ firms, and the Firm’s attorneys have obtained many of the largest securities, antitrust, and consumer class action recoveries in history.

The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. The Firm secured the largest-ever securities fraud class action settlement – $7.2 billion – in In re Enron Corp. Securities Litigation.

For more information, please email us at media@rgrdlaw.com or call us at (619) 338-3821.

Teamsters Local 237 Additional Security Benefit Fund, et al. v. Caruso, C.A. No. 2020-0620-PAF (Del. Ch.).

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