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The settlement is the largest securities fraud class action recovery in more than a decade in the Ninth Circuit and the second-largest ever in that Circuit.

Three weeks before a scheduled trial in Delaware’s Court of Chancery, partner Chad Johnson and co-counsel hammered out a settlement for Dell minority shareholders who claim they were shortchanged in a 2018 stock conversion deal.

The case alleged that certain directors of Dell and private equity firm Silver Lake, among others, breached their fiduciary duties to the former holders of Dell’s Class V tracking stock.