Law Firm News

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Law Firm News

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Pryor Cashman LLP

Pryor Cashman Negotiates Acquisition of Main Street Restaurant Group by Main Street Acquisition Corporation, a Wholly Owned Subsidiary of The Briad Group
On May 22, 2006, Main Street Acquisition Corporation, a newly-formed wholly owned subsidiary of The Briad Group, entered into an agreement to acquire Main Street Restaurant Group, Inc. Main Street Restaurant Group, Inc. (NASDAQ: MAIN) is the world's largest franchisee of T.G.I. Friday's restaurants, the owner and operator of the Bamboo Club - Asian Bistro, the Redfish Seafood Grill and Bar restaurant concepts and operator of one Alice Cooperstown restaurant.

Under the terms of the merger agreement, Main Street Acquisition Corporation will commence a cash tender offer for all of the outstanding shares of Main Street Restaurant Group at $6.40 per share. The tender offer is subject to a minimum tender condition of 90% of the outstanding Main Street Restaurant Group shares and other customary conditions, but is not subject to any financing condition. After the tender offer and the merger, Main Street Restaurant Group will become a wholly owned subsidiary of The Briad Group, a privately held entity controlled by Bradford Honigfeld.

Blake Hornick and Rich Frazer, partners in the firm's corporate department, led the transaction for Main Street Acquisition Corporation and The Briad Group. William Levine and Chris Mellevold, partners in the firm's banking department, handled the financing documents with Bank of America. Jonathan McKeon, partner in the firm's labor department provided invaluable ERISA support, and associates Michael Campoli, Michael Dunn, Louis Ciccone and Melissa Fleming assisted in the transaction.

05-22-2006

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Bernstein Litowitz Berger & Grossmann LLP

Financial Times Profiles BLB&G as "Biggest Star" in the Securities Bar; FT Cover Story Details BLB&G's Prosecution of Stock Options Backdating Cases
On May 18, 2006, BLB&G filed a derivative Complaint on behalf of several pension fund clients against executives of UnitedHealth Group, Inc. ("UnitedHealth") for allegedly manipulating stock options practices to guarantee windfall compensation. In two separate stories on May 22, 2006, The Financial Times ("FT") cited the UnitedHealth Complaint, BLB&G's ongoing prosecution of the participants in the high-profile fraud at now bankrupt U.S. brokerage house Refco, Inc. ("Refco"), and BLB&G's unprecedented recoveries in the WorldCom securities litigation, and called the firm the "biggest star in the firmament" of plaintiff securities work.

The FT stories featured founding partner Max Berger, as well as fellow partners Gerald Silk and John "Sean" Coffey who were quoted on their work, respectively, in the UnitedHealth and Refco cases.

As part of the firm's legal action against UnitedHealth, on behalf of several pension fund clients', Mr. Silk has asked the federal court in Minnesota to freeze $2 billion in unexercised stock options previously granted to the the company's CEO and COO: "We're basically asking the judge to take the key out of the getaway car until the backdating mess is sorted out.

05-22-2006

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Bernstein Litowitz Berger & Grossmann LLP

Reuters Article Profiles Achievements of Sean Coffey and BLB&G
Reuters, in a piece entitled, "Lifting the Lid: NY Lawyer Contender for Torts Crown,” discusses BLB&G Partner Sean Coffey’s professional achievements and credits BLB&G as being “at the top of the heap of securities class action firms.” Recovering nearly $20 billion on behalf of shareholders since the firm was founded, BLB&G has repeatedly topped the Institutional Shareholder Services (ISS) annual study for obtaining the largest amount of settlement monies and the highest average settlement values by “consistently bringing high-impact cases.” (ISS).

Lifting the Lid also outlines how Mr. Coffey climbed the ranks of securities class action litigators. His role in securing a $6.15 billion settlement for the investor class in WorldCom and his reputation as a tough and brilliant litigator have forced Corporate America to take notice.

05-22-2006

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Harris Beach LLC

Tracie L. Lopardi Joins Harris Beach
The law firm of Harris Beach PLLC is pleased to announce that Tracie L. Lopardi, who served as general counsel to Niagara University, has joined firm in the Buffalo office as senior counsel in the Labor & Employment Law and Litigation Practice Group and the Educational Institutions Team. Ms. Lopardi developed Niagara University’s first in-house General Counsel’s Office. She will lead Harris Beach’s efforts to expand upon its services to educational institutions throughout western New York.

“Tracie is a highly talented attorney who understands the dynamics and legal requirements of educational institutions,” said Raymond J. Stapell, managing partner of the Harris Beach Buffalo office. “Tracie is well-respected among educators and community leaders throughout this area. Her experience will be a valuable asset to our clients.”

At Niagara University, Ms. Lopardi managed and represented the University concerning all legal matters involving governance, academic affairs, business services and contract management, facilities, employment, student life, and institutional advancement. Prior to Niagara University, Ms. Lopardi was an attorney with another Buffalo law firm where she represented clients concerning numerous aspects of Education Law and Labor and Employment Law. At Harris Beach, Ms. Lopardi’s practice will continue to focus on counseling and representing school districts and businesses regarding various areas of education, labor and employment law matters.

Ms. Lopardi is a member of the American, New York State (Labor and Employment Law Section), and Erie County Bar Associations (Labor and Employment Law Section). She is also a member of the National Association of College and University Attorneys, National School Board Association (Council of School Attorneys), and New York State School Boards Association. She is a member of the Emerging Leaders Society of the United Way of Buffalo and Erie County and was recently elected to its Advisory Council. She is also a member of the Board of Directors of the SUNY Geneseo Alumni Association, the SUNY Geneseo Alumni Career Partners Program, and the Syracuse University College of Law Admissions Initiative Program. Ms. Lopardi previously served as co-legislative liaison for the Society of Human Resource Managers/Buffalo Niagara Human Resource Association and as a board member of Meals and Wheels of Buffalo and Erie County.

Ms. Lopardi received her juris doctor, magna cum laude, from Syracuse University College of Law and her bachelor of arts from the State University of New York College at Geneseo.

05-22-2006

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White & Case, LLP

White & Case Named Best Law Firm for Asset Management 2006
AsianInvestor has named White & Case ""Best Law Firm for Asset Management"" in the Asian region.

The award was officially presented to White & Case at AsianInvestor's annual Achievement Awards, a black-tie dinner that was held on May 19 at the Conrad Hotel in Hong Kong.

The award was based on nominations from market participants in Asia and was selected by the magazine's editorial team. It recognizes the commitment White & Case has made to the asset management industry in Asia through the creation of its dedicated investment and hedge funds support group, which is staffed by a dedicated team of international and local lawyers based in the firm's offices in Bangkok, Beijing, Hong Kong, Shanghai, Singapore and Tokyo.

The group offers cutting-edge advice on fund structuring and tax issues, regulatory requirements for intermediaries and offerings, and a range of transactional and regulatory advice on private equity, venture capital and hedge funds. Its creation is a response to the rapidly changing market throughout Asia.

""We've seen real growth in both hedge funds and private equity funds as institutional investors search for better returns and become more sophisticated in selecting managers,"" says Sharon Hartline, a partner in White & Case's Hong Kong office. ""At the same time, rising competition in the US and Europe has meant that an increasing number are turning their attention to Asia.""

""As the industry in Asia has matured, we've started to see clients launching funds that bring together an interesting mix of investors and investment strategies, and these types of groups require increasingly sophisticated legal, regulatory and tax advice,"" says Chris Wells, a partner in White & Case's Tokyo office. ""We're delighted that AsianInvestor has recognized the work we've been doing for these groups and look forward to the challenge of maintaining our market-leader status.""

About White & Case
White & Case LLP is a leading global law firm with nearly 2,000 lawyers in 36 offices in 24 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

05-22-2006

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Taft Stettinius & Hollister LLP.

JOHN LOMBARD HONORED WITH PRESTIGIOUS AWARD
John C. Lombard, of counsel in the Dayton office of Taft, Stettinius & Hollister LLP, will receive the Lloyd O’Hara Public Interest Law Award. This award recognizes an individual attorney for representation of minority, low-income, or otherwise disadvantaged persons. Lombard will be honored with the Lloyd O’Hara Award for his work with Court Appointed Special Advocates (CASA) and Artemis Center for Alternatives to Domestic Violence. He has also been a volunteer with organizations such as the Greater Dayton Volunteer Lawyers Project, the Dayton Art Institute, Dayton Visual Arts Center, Project Read, Planned Parenthood and the YMCA. The inaugural event is scheduled to take place on May 24 at 6:30 p.m. at the David H. Center at Sinclair Community College.

Lombard, a resident of Dayton, serves as a regular contributing editor to The Developing Labor Law, published by the Bureau of National Affairs, and has been editor for both the Second and Third Editions. He also has been a speaker at the Annual Mid-Winter Meeting of the American Bar Association Section of Labor Relations Law.

Lombard is president of the Sinclair Foundation and serves as a board member of the Dayton Visual Arts Center. He also is the past president of the Dayton Art Institute Board of Trustees and is a member of the Dayton, Ohio State, Massachusetts and American Bar Associations.

Taft, Stettinius & Hollister LLP has offices in Cincinnati, Columbus, Cleveland, Dayton and Northern Kentucky. The firm provides a broad range of legal services to businesses and individuals, including litigation, corporate and business law, securities and municipal financing, tax and estate planning, labor and employment law, real estate and environmental, health care, intellectual property and unfair competition and antitrust law.

For more information about Taft, Stettinius & Hollister LLP or one of its 33 practice areas, contact Kelly Hergott at (513) 357-9471, or visit our Website at www.taftlaw.com.

05-22-2006

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Simpson, Thacher & Bartlett, LLP

Simpson Thacher Represents ITC Holdings in Acquisition of Michigan Electric Transmission Company
The Firm represents ITC Holdings Corp. in its acquisition of Michigan Electric Transmission Company (""METC"") in a transaction valued at approximately $866 million. ITC Transmission, a subsidiary of ITC Holdings, owns, manages and maintains the high-voltage, electric transmission system in southeastern Michigan. METC owns and manages the high-voltage electric transmission system in the western portion of Michigan's Lower Peninsula. Upon completion of the acquisition, ITC Holdings' subsidiaries will own and operate the largest independent transmission system in the United States.

Under the terms of the agreement, METC's selling shareholders, Trans-Elect, Inc., a GFI Energy Ventures portfolio company, affiliates of Evercore Capital Partners, Macquarie Essential Assets Partnership and other private investors, will receive $486 million in cash and approximately $70 million in shares of ITC Holdings common stock. In addition, ITC Holdings will assume, or refinance at METC, approximately $311 million of METC debt.

This transaction follows the Firm's representation of ITC Holdings in its July 2005 IPO as well as in other offerings. In 2003, the Firm represented ITC Holdings and International Transmission Holdings Limited Partnership in the acquisition of ITC Transmission from DTE Energy Company. The Partnership remains ITC Holding's largest stockholder; its general partner is Ironhill Transmission, LLC and its limited partners include affiliates of Kohlberg Kravis Roberts & Co. and Trimaran Capital Partners.


The STB team working on the acquisition includes: David Sorkin, Brian Stadler, Eric Swedenburg, Andrew Calder, Paul Riskind, Eduardo Baeza (M&A); Risë Norman and Kirsten Davis (Capital Markets); James Cross and Jon Wry (Credit); Mark Tibberts and Amy Beller (Energy Regulatory); Andrea Wahlquist, Greg Grogan and Andrew O'Brien (Employee Benefits); Steve Todrys, Nancy Mehlman and Peter Rosen (Tax); Adeeb Fadil (Environmental); Mardi Merjian (Real Estate) and Kirstie Howard (Intellectual Property).


Lawyers:
• Eduardo Baeza
• Amy T. Beller
• Andrew T. Calder
• James D. Cross
• Kirsten L. Davis
• Adeeb R. Fadil
• Gregory T. Grogan
• Kirstie M. Howard
• Nancy L. Mehlman
• Mardi R. Merjian
• Risë B. Norman
• Andrew J. O'Brien
• Paul N. Riskind
• Peter C. Rosen
• David J. Sorkin
• Brian M. Stadler
• Eric M. Swedenburg
• Mark S. Tibberts
• Steven C. Todrys
• Andrea K. Wahlquist
• Jonathan D. Wry

05-22-2006

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