Kid Brands Prevails in Two Securities Actions

Skadden has secured two victories in actions brought against children’s furniture manufacturer Kid Brands, Inc. and/or certain of its officers and directors. On November 15, the U.S. Court of Appeals for the Third Circuit affirmed the district court's dismissal of a putative shareholder class action alleging violations of the Securities Exchange Act in connection with customs compliance violations by the company's subsidiaries. Also on November 15, the plaintiff in a related shareholder derivative action that was dismissed earlier this year in the U.S. District Court for the District of New Jersey withdrew its appeal.