DIRECTV operates the largest direct broadcast satellite (DBS) service in the US, ahead of #2 DISH Network, and in direct competition with cable providers Comcast and Time Warner. It provides service to more than 17 million customers in the US and another 5 million in Latin America. Additionally, phone companies such as Verizon bundle DIRECTV video services with their voice and Internet packages. The company also offers high-definition and video-on-demand (VOD) programming. Other assets include FOX Sports Net and a stake in the Game Show Network. Liberty Media controls 48% of DIRECTV's voting power.

Case description: Alleged unfair merger compensation and breach of fiduciary duty by the Board of Directors.

Cypress acted as consultants on behalf of New Orleans Employees’ Retirement systems regarding valuation, process and governance issues and the fairness of the transaction.  The case settled.