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The Focal Point and Clifford Chance Claim Victory in Multi-Billion Dollar Liability Case Involving Controversial Enron Stockholdings
Florida State Board of Administration v. Alliance Capital Management
Tallahassee, Fla. (May 2, 2005)—The Focal Point LLC declared a victory following the verdict of Florida State Board of Administration v. Alliance Capital Management. A unanimous jury found in favor of defendant Alliance Capital on all six claims made by the Florida State Board of Administration. The Focal Point played a key role in reaching the verdict through collaboration with the defendant’s counsel, New York-based Clifford Chance LLP. The country’s leading trial strategy and graphics firm, The Focal Point was involved in case preparation, including developing trial strategy and courtroom graphics.
The Florida State Board of Administration filed suit against Alliance Capital Management based on its management of the Florida State Pension Fund. The suit centered on Alliance Capital Management’s holding of Enron stock, and included claims of Breach of Contract, Breach of Duty of Good Faith, and Negligence, among others.
In developing case strategy and graphics, The Focal Point was fundamental to Clifford Chance’s clear portrayal of the defendant’s case. With comparison charts and graphics, The Focal Point illustrated that Alliance Capital Management had treated Enron stock with the same precautions and protocol as any other large-growth stockholding.
“We’re very happy with this victory, especially considering the significance of a case involving the State Pension Fund, in State Court, and in light of the recent negative press and mistrust associated with Wall Street institutions,” said Chris Ritter, a partner at The Focal Point. “The jury found the right verdict, and this is a great outcome.”