News & Insights

Cases & Deals

June 7, 2022

Acuity Brands Secures Favorable Settlement of Securities Class Action and Dismissal of Derivative Litigation

King & Spalding’s defense of Acuity Brands, Inc. and several top former executives in securities class action litigation reached a successful conclusion, with the entry of a judgment from the U.S. District Court for the Northern District of Georgia dismissing the matter with prejudice pursuant to a $15.75 million settlement funded entirely by D&O insurance.  The judgment marked the culmination of over four years of hard-fought litigation by a team of K&S trial lawyers and secured a favorable resolution of claims presenting potential exposure in excess of $1 billion.

Related shareholder derivative litigation in which King & Spalding represented several former Acuity executives was also recently dismissed by the plaintiffs, with prejudice.