Credit: Sergey Nivens/Shutterstock.com Why Bankruptcy Is Not Always the Right Option for Financially Distressed Companies
While we may see a restructuring wave this year, much of the action may take place outside of federal bankruptcy court.
January 27, 2022 at 11:37 PM
7 minute read
Corporate bankruptcy is a cyclical practice area. During certain brief periods of time, like during the Financial Crisis, bankruptcy lawyers feast on work and many lawyers from other practices rebrand themselves as bankruptcy lawyers. During other longer periods of time, the opposite is often true: bankruptcy lawyers have to start doing more commercial litigation or transactional work to stay busy.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
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