Cases & Deals

Asia Pulp & Paper defends securities fraud class action

Clients Asia Pulp & Paper Co., Ltd.

Jones Day represented Asia Pulp & Paper in a class action alleging violations of federal securities laws arising from Asia Pulp & Paper Co., Ltd.'s late 1990s default on over US$13 billion in bonds and other debt instruments. Plaintiffs, consisting of holders of bonds and shares issued by APP and its affiliates, calculated their damages to be in the range of 3 to 6 billion dollars. After litigating for several years, the parties settled the case on mutually agreeable terms.

In re Asia Pulp & Paper Co., Ltd. Securities Litigation, No. 01-CV-7351 (S.D.N.Y.)

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