CASE STUDIES

REAL PAGE

Following an investigation of RealPage by On Point on behalf of its private litigation clients, the U.S. Department of Justice and eight state attorneys general recently filed a lawsuit against real estate software company RealPage, alleging that its algorithmic pricing system has contributed to widespread price-fixing among landlords, harming millions of American renters.

OPIOD DISTRIBUTION

On Point has conducted multi-year investigations of pharmacies, distributors and manufacturers of opioids to assist its clients in helping communities hold them accountable for the epidemic in the United States. The litigation has led to billions of dollars in settlements that will be returned to the communities to use to respond to the crisis.

INSULIN PRICE GOUGING

The rising price of insulin by its manufacturers is the subject of another investigation by On Point on behalf of those living with diabetes. If this antitrust case is successful, it will help millions of consumers.

CORINTHIAN COLLEGES, INC.

On Point conducted an investigation of Corinthian Colleges, Inc. on behalf of investors who alleged that the company: (1) manipulated federal student loan and grant programs in order to appear compliant with federal regulations enacted in June 2011, and (2) engaged in predatory and deceptive recruiting and enrollment practices. The company agreed to settle the claims for $5.75 million.

GROUPON, INC.

On Point conducted an investigation of Groupon, Inc. on behalf of investors who alleged that the company lacked internal financial controls, had understated refund reserves in the fourth quarter of 2011, and as a result materially misstated its 2011 revenue. The company agreed to settle the action for $45 million.

LUMBER LIQUIDATORS, INC.

On Point conducted an investigation of Lumber Liquidators on behalf of investors who alleged that the company failed to comply with laws and regulations governing formaldehyde emissions from composite wood products. Investors further alleged that Lumber Liquidators imported flooring products sourced from illegally logged wood in the Russian Far East in violation of the Lacey Act. The company agreed to a settlement pursuant to which investors collectively received a cash payment of $23 million plus one million shares (valued at approximately $16 million).

POLYCOM, INC.

On Point conducted an investigation of Polycom, Inc. on behalf of investors who alleged that the CEO had submitted inappropriate expenses in violation of the company’s Code of Conduct. The SEC subsequently charged that individual with using nearly $200,000 in corporate funds for personal perks, including travel with friends to luxurious resorts, while claiming they were for business-related site visits. The company agreed to settle the case for $8 million.

STARR SURGICAL COMPANY

On Point conducted an investigation of STARR Surgical Company on behalf of investors who alleged that, among other things, contrary to its public statements, STARR lacked adequate facilities for the manufacture, packing, storage, and installation of the its implantable lenses. The company agreed to settle the claims for $7 million.

SIENTRA, INC

On Point conducted an investigation of breast implant manufacturer Sientra, Inc. on behalf of investors who alleged that there was contamination in the manufacturing process at the Company’s plant in Brazil. The company settled the case for $10.9 million.

TERRAFORM POWER INC.

On Point conducted an investigation of Terraform Power Inc. on behalf of investors who alleged that the company entered into an agreement with SunEdison, and that the agreement exposed TerraForm to risks associated with SunEdison’s deficient internal financial controls. Terrform agreed to settle the claims for $14.75 million.

YAHOO, INC.

On Point conducted an investigation of Yahoo, Inc. on behalf of investors who alleged that the company intentionally misled the market about its cybersecurity following highly publicized hacks that compromised the personal information of 1.5 billion Yahoo users. Yahoo agreed to settle the action for $80 million.