SECURITIES
Scott+Scott has extensive experience litigating securities fraud on behalf of our governmental entity, institutional, and individual clients, serving as lead counsel in numerous securities class actions since the enactment of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). Through our commitment to the best interests of those the Firm represents, Scott+Scott has successfully obtained exceptional monetary results on behalf of investors.
LANDMARK CASES
US FOREX
Antitrust + Competition
$2.3 Billion in US settlements for market manipulation
BoA/US BANCORP
Securities Litigation
Novel investment recovery under The Trust Indenture Act
Wendy's
Consumer Litigation
Data Breach case with $50 Million settlement
Corporate Governance
Record-setting sexual harassment settlement of $310 Million in corporate reforms
Representative caseS
In re Priceline.com, Inc. Sec. Litig.,
No. 3:00-cv-01884 (D. Conn. July 19, 2007)
Securities fraud action on behalf of priceline.com investors alleging misrepresentation of the Company’s business model. ($80 million settlement)
Irvine v. ImClone Sys., Inc.,
No. 1:02-cv-00109 (S.D.N.Y. July 29, 2005)
Securities fraud case arising out of the drug manufacturer’s concealment of adverse information relating to the Company’s flagship new drug candidate. ($75 million settlement)
Cornwell v. Credit Suisse Grp.,
No. 08-cv-03758 (S.D.N.Y.)
Securities fraud class action alleging false and misleading statements by the investment bank regarding its profitability, loan debt and risk management policies. ($70 million settlement)
Policemen’s Annuity & Benefit Fund of Chi. v. Bank of Am., N.A.,
No. 12-cv-02865 (S.D.N.Y.)
Class action alleging failure to repurchase defective mortgages against Bank of America and U.S. Bank, as Trustees for Washington Mutual-sponsored mortgage-backed securities. ($69 million settlement)
In re SanDisk LLC Sec. Litig.,
No. 15-cv-01455 (N.D. Cal.)
Securities fraud class action against data storage company SanDisk Corporation and certain of its officers and directors alleging false and misleading statements regarding sales and production delays. ($50 million settlement)
Weston v. RCS Capital Corp.,
No. 1:14-cv-10136 (S.D.N.Y.)
Securities fraud class action alleging false and misleading statements regarding the Company’s core wholesale distribution, investment banking businesses, and its prospects for success. ($31 million settlement)
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Perspective: Litigation – State of pay?
Scott+Scott managing partner David Scott comments on how changes in legislation like the UK’s Consumer Rights Act 2015 have led to an increase of class actions led by pension funds as they seek to recover investment losses and improve corporate governance.
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Teamsters Fund Sues AllianzGI For Hedge Fund Losses
Scott+Scott filed suit on behalf of Participants in the Teamster Members Retirement Plan against Allianz Global Investors and its subsidiaries, saying investors in a hedge fund it managed lost nearly $1 billion.
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Allianz Investment Arm Sued Over $1B Loss From Virus Crash
Scott+Scott filed suit on behalf of a Teamsters Union retirement plan against AllianzGI alleging it abandoned its risk controls and meaningful downside hedging strategies for a fund purportedly designed to weather extreme market volatility.
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Scott+Scott Obtains Restraining Order in Action Over Madoff Losses
Scott+Scott LLP’s New York-based partner Beth Kaswan and her team of litigators won a critical court order yesterday on behalf of the firm’s client New York University.
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