Kid Brands Secures Dismissal With Prejudice of Securities Suit

Skadden secured a dismissal with prejudice of all claims against children's furniture manufacturer Kid Brands, Inc. and certain of its officers and directors in a purported shareholder class action, which alleged that the defendants issued misleading disclosures regarding customs duty regulations compliance by the company's subsidiaries. After Skadden obtained a motion to dismiss from the U.S. District Court for the District of New Jersey in March 2012, the plaintiff filed a second amended complaint that included allegations from additional confidential witnesses. On October 18, Judge Jose L. Linares, largely adopting the arguments set forth by Skadden, dismissed the action in its entirety.