Phoenix Leasing Limited Partnership Litigation

Chimicles & Tikellis LLP served as co-lead counsel in this securities class action filed on behalf of the limited partners in Phoenix Leasing Cash Distribution Funds, in the Superior Court of the state of California, Marin County. The action alleged waste of corporate assets, fraud, breach of fiduciary duty and fraudulent sales and marketing by the General Partners of the Funds and other defendants. On February 19, 2002 the Superior Court approved the settlement of this action for $11.7 million.