Harbinger Capital Partners

Compass Lexecon was retained by Bruce Birenboim at Paul, Weiss, Rifkind, Wharton & Garrison LLP on behalf of their client Harbinger Capital Partners in a case involving a suit by NACCO Industries, Inc. alleging that Harbinger acquired shares of Applica at less than fair value. NACCO claimed that it suffered damages resulting from the forgone value of the synergies that it could have gained through a merger with Applica. The case ultimately settled favorably for Harbinger, at a fraction of the damages NACCO was seeking. Compass Lexecon Affiliate, Professor Allen Ferrell provided expert testimony on the value of the Applica shares and Compass Lexecon Affiliate, Professor Kenneth Lehn, provided expert testimony on the value of the alleged synergies NACCO would have gained through a merger with Applica. Professors Ferrell and Lehn were supported by Dr. Atanu Saha and a team of Compass Lexecon economists in the New York office including Erica Liang and Carina Chambarry.