With more than 50 years of experience, Labaton Sucharow is a tenacious advocate for investors and consumers. The Firm offers complex litigation services in the areas of securities, antitrust, consumer protection, and corporate governance and shareholder rights law, as well as whistleblower representation. Labaton Sucharow represents many of the largest institutional investors worldwide and has secured billions of dollars in landmark recoveries. The Firm’s successful reputation is built not only on its team of more than 90 attorneys, but also on its industry-leading in-house investigators, financial analysts, and forensic accountants.
Main Areas of Practice:
Securities Litigation: The Firm continues to secure precedent-setting decisions and significant monetary recoveries on behalf of investors. After achieving historic settlements from cases stemming from the financial crisis, the Firm has maintained its momentum in prosecuting high-profile and cutting-edge actions against corporate behemoths like PG&E, BP, and Goldman Sachs. In addition, the team played an authoritative role in shaping securities litigation laws through a landmark victory in the Supreme Court with Amgen Inc. v. Connecticut Retirement Plans and Trust Funds.The Firm also evaluates the viability of claims that may be pursued through opt-out or direct actions.
American International Group Securities Litigation – More than $1 billion total recovery, one of the top 15 securities settlements of all time
Countrywide Financial Corp. Securities Litigation – Achieved a $624 million settlement
HealthSouth Corp. Securities Litigation – Recovered $671 million
Schering-Plough/Enhance Securities Litigation – Secured a $473 million settlement
Massey Energy Co. Securities Litigation – Obtained a $265 million allcash settlement
SCANA Corporation Securities Litigation - Secured a $192 million settlement
Antitrust and Competition Litigation: The Firm is equally active in the antitrust arena on behalf of clients damaged by anticompetitive conduct. The mission of the Firm’s Antitrust and Competition Litigation Practice is to promote the private enforcement of antitrust laws in order to preserve free competition in the marketplace. The Firm has recovered billions of dollars on behalf of its clients in major antitrust class actions around the country.
Air Cargo Shipping Services Antitrust Litigation – More than $1.2 billion in settlements from several international airlines
Aftermarket Automotive Lighting Products Antitrust Litigation – Aggregate settlement of more than $50 million with major manufacturer of automotive lights
Corporate Governance and Shareholder Rights Litigation: As corporate leaders continue to engage in fraudulent conduct and other mechanisms to unjustly enrich themselves, the Firm initiates numerous derivative and M&A-related suits to protect shareholders.
Freeport-McMoRan Copper & Gold Inc. Derivative Litigation – Achieved the second largest derivative settlement in the Delaware Court of Chancery history, a combined $153.75 million recovery with an unprecedented provision of direct payments to stockholders by means of a special dividend
El Paso Corporation Shareholder Litigation – $110 million recovery for shareholders; a stipulation in the settlement also prevented Goldman Sachs from collecting a $20 million fee for its work on the merger, a condition pursued adamantly by the Firm to encourage banks in future deals to take proper steps to reduce conflicts of interest
Whistleblower Representation: The Firm established the first national practice focused exclusively on protecting and advocating for SEC whistleblowers.The practice plays a critical role in exposing securities fraud and creating necessary corporate reforms.
Secured $83 million, the largest award ever granted under the SEC’s Whistleblower Program, for the whistleblowers who tipped the SEC off to long-running misconduct at Merrill Lynch.
Represented the first officer of a public company to win an SEC whistleblower award, the first SEC whistleblower to receive criminal immunity, and the first SEC whistleblower to receive an award because his company retaliated against him
Non-U.S. Securities Litigation: The Firm’s Non-U.S. Securities Litigation Practice is dedicated to working with non-U.S. counsel to analyze potential claims in all international jurisdictions in which it is possible to seek a recovery.The Firm’s attorneys have almost three decades of experience advising institutional investor clients on the risks and benefits of pursuing claims in non-U.S. forums.The Firm serves or has served as liaison counsel for numerous clients in more than 40 non-U.S. actions, several of which have achieved significant recoveries.
Akerman LLP is a top 100 U.S. law firm recognized among the most forward thinking firms in the industry by Financial Times. Its more than 700 lawyers and business professionals collaborate with the world’s most successful enterprises and entrepreneurs to navigate change, seize opportunities, and help drive innovation and growth. Akerman is known for its results in middle market M&A and complex disputes, and for helping clients achieve their most important business objectives in the financial services, real estate, and other dynamic sectors across the United States and Latin America.
Commercial Litigation: Akerman offers a leading trial team that includes more than 350 litigators across the United States. We represent a diverse range of clients across numerous sectors—and we have particular strength in the financial services, private equity and mergers and acquisitions, insurance, real estate and construction, health and life sciences, and energy sectors. Akerman lawyers regularly appear before judges and arbitrators in class action, securities, white-collar, fraud and recovery, product liability, intellectual property, employment, bankruptcy, and general business matters.
Appellate: With a bench that includes one of the largest groups of former appellate judges in the United States, Akerman’s appellate practice is a national powerhouse with demonstrated success in handling appeals related to complex commercial litigation. Akerman team members frequently assist trial lawyers during all phases of litigation, preserving errors for appeal, drafting motions and responses, and providing strategic advice on the best approach for seeking relief on appeal. We also represent clients in highly specialized administrative appeals involving high-profile issues, and we promote their interests through amicus curiae briefs when they are not a party to an appeal but have a substantial interest in the outcome.
International Litigation & Arbitration: Akerman has a long record of accomplishment in resolving complex multijurisdictional disputes. Our team represents multinational, foreign, and domestic corporations and individuals before U.S. federal and state courts, as well as in arbitration proceedings before a wide range of international arbitral bodies in multiple jurisdictions. Akerman litigators help clients successfully address conflicts in a broad range of sectors, including general commercial disputes, power and energy, construction and engineering, and banking and finance, among many others. Our highly responsive, multilingual team works in tandem with experienced local counsel to provide seamless resolution to disputes throughout Latin America, as well as in Europe, Asia Pacific, Africa, and the Middle East.
Employment Litigation: Akerman’s national, multidisciplinary team helps clients navigate claims brought before state and federal agencies and boards as well as trial and appellate courts throughout the United States. Our lawyers regularly defend employers in all types of employment litigation, including complex class-action discrimination cases and collective action wage and hour matters. We also represent employers in connection with administrative charges and audits, and have successfully negotiated and supervised numerous settlements with the U.S. Department of Labor.
Gibson, Dunn & Crutcher LLP, a leading international law firm, consistently ranks among the world’s top law firms in industry surveys and major publications. The firm is distinctively positioned in today’s global marketplace with more than 1,400 lawyers and 20 offices.
Litigation Practice: Acclaimed as a litigation powerhouse, Gibson Dunn and the members of the Litigation practice have a long record of outstanding successes. The American Lawyer named Gibson Dunn its 2020 Litigation Department of the Year, recognized as the “best of the best.” This unprecedented achievement was the firm’s fourth win in the last six years of the publication’s biennial “Litigation Department of the Year” competitions, and the sixth time in a row the firm has been a finalist.
The members of our litigation practice group are not just litigators, they are first-rate trial lawyers. Each year, we try numerous cases to verdicts before juries, judges and arbitrators. Our clients have trusted us to try their most significant disputes to verdict.
We have tried cases and argued appeals before the U.S. Supreme Court and state supreme courts in addition to federal and state courts across the United States involving almost every foreseeable area of controversy. We also handle disputes before a wide variety of nonjudicial forums, from federal and state agencies to international arbitrations.
Antitrust & Trade Regulation: Gibson Dunn serves clients in virtually every significant area of antitrust and trade regulation law, including cartel and government civil investigations, class action treble damage litigation, private antitrust litigation, government review of mergers and acquisitions, and trade regulation matters.
Appellate: Gibson Dunn has one of the nation’s leading appellate practices with broad experience in complex appellate litigation at all levels of the state and federal court systems. The practice has been involved in matters covering an array of constitutional, statutory, regulatory and common-law issues. Our lawyers have presented arguments in front of the Supreme Court of the United States more than 100 times.
Business Restructuring & Reorganization: The firm has extensive experience in both US and multinational insolvencies. Its lawyers regularly represent and counsel official creditors’ committees, ad hoc creditor groups, secured lenders, investors and companies (including DIP and exit financing) in out-of-court work-outs and Chapter 11 cases.
Commercial Litigation & Arbitration: Gibson Dunn’s approach emphasizes the full spectrum of services for our clients. Our litigators are trained to evaluate actual and potential cases at the earliest stages, to first determine if litigation can be avoided, or, if it is filed, whether the matter can be resolved quickly and economically. We pride ourselves on handling our litigation matters as efficiently as possible. Gibson Dunn lawyers are fully familiar with a wide array of alternative dispute resolution techniques, including arbitration, mediation, “mini-trials” and the like.
Intellectual Property: Gibson Dunn’s deep bench of trial lawyers with technical backgrounds, advanced degrees and industry experience provides the necessary insight to develop and defend against sophisticated claims in a wide range of industries and complex technologies. Our litigators are recognized throughout the industry as leaders in prosecuting, defending and trying IP claims in federal and state courts, before administrative bodies including the U.S. International Trade Commission (ITC) and U.S. Patent and Trademark Office (USPTO), as well as before arbitration panels.
Labor & Employment: Gibson Dunn is known for our unsurpassed ability to help the world’s preeminent companies tackle their most challenging labor and employment matters. We have prevailed in what are believed to be the largest class actions under several different U.S. employment laws, including Title VII, the Americans with Disabilities Act, and the wage and hour laws. Gibson Dun has also worked on high-profile ERISA cases, nationally recognized Sarbanes-Oxley ‘whistleblower’ cases and aggressive advocacy on OSHA issues.
Securities Litigation, Regulation & Corporate Governance: A recognized leader in the defense of securities class actions, derivative litigation and SEC enforcement actions, the firm advises companies on disclosure, accounting and regulatory issues for domestic and foreign regulatory bodies. The partners include nationally recognized securities class action defense counsel and a number of former senior officials with the SEC, NASD and DOJ.
Transnational Litigation: Gibson Dunn’s Transnational Litigation practice specializes in protecting clients against claims in U.S. and other courts stemming from overseas activities, as well as reducing and eliminating the risks posed by foreign litigation that, if unchecked, threaten company-wide implications. Our uniquely skilled, creative and experienced transnational team is equipped to manage all aspects of cross-border litigation, including devising, coordinating and implementing offensive and defensive global strategies and has represented clients in some of the highest-profile cases around the world. Gibson Dunn’s international team consists of US, English, French, Spanish and German-qualified lawyers, many of whom are dual qualified.
White Collar Defense & Investigations: The firm defends prominent companies and executives against federal and state prosecutions and has conducted numerous sensitive internal investigations in areas including anti-money laundering; computer and IP crimes; environmental violations and compliance; FCPA matters; forfeiture (civil and criminal); health care fraud; privacy; procurement fraud; securities, financial institution and accounting fraud; and tax offenses. The practice group includes numerous former federal and state prosecutors and officials, many of whom served at high levels within the DOJ, SEC and other key investigative arms of the government. The American Lawyer named Gibson Dunn a finalist for the White Collar/Regulatory Department of the Year in 2020, and in 2016 was the winner.
Founded in 1982, Berman Tabacco is a national law firm with offices in Massachusetts and California. The firm has devoted its practice to complex litigation, primarily under the securities and antitrust laws, as well as related services requested by and provided to its institutional clients. The firm also has an active whistleblower practice, among others.
Securities Litigation Berman Tabacco has more than 35 years of securities-litigation experience and has represented public pension funds and other institutional investors in that area since 1998. The Firm has prosecuted some of the largest securities cases and has recovered billions of dollars on behalf of investors. Indeed, Berman Tabacco appears as one of the firms with the most settlements on the list of the top 100 largest securities class actions in ISS Securities Class Action Services' published report, Top 100 U.S. Class Action Settlements of All Time (as of 12/31/2018). The firm has successfully prosecuted and recovered billions of dollars for defrauded investors in some of the most significant shareholder lawsuits of the last 20 years, having been appointed as lead or co-lead counsel in more than 100 actions. Recent successes include:
In re BP plc Sec. Litigation, No. 4:10-md-02185 (S.D. Tex.) The firm recovered $175 million on behalf of the class—one of just four mega securities class action settlements in 2017 (settlements of $100 million or more), according to Cornerstone Research in this hard-fought litigation on behalf of shareholders of BP American Depository Shares arising out of BP's Deepwater Horizon explosion, one of the worst oil spills in history. Class members who submitted claims will receive over 100% of their recoverable losses.
California Public Employees' Retirement System v. Moody's Corp., No. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.) As sole counsel, the firm recovered $255 million from Moody's and Standard and Poor's entities in this landmark individual action on behalf of the California Public Employees' Retirement System, which alleged negligent misrepresentations in connection with rating three structured investment vehicles.
In re Fannie Mae 2008 Sec. Litigation, No. 08-cv-07831 (PAC) (S.D.N.Y.) Representing co-lead plaintiff Massachusetts Pension Reserves Investment Management Board, the firm resolved claims for $170 million alleging that Fannie Mae failed to disclose (i) growing exposure to high-risk mortgages as well as (ii) problems with the company's risk controls, both of which led to federal conservatorship in 2008.
In re IndyMac Mortgage-Backed Sec. Litigation, No. 1:09-cv-04583 (LAK) (S.D.N.Y.) As lead counsel, the firm recovered $346 million on behalf of the class from investment-bank underwriters and officers—one of the largest mortgage-backed-securities class action settlements to date and the largest paid by underwriter defendants.
Berman Tabacco's dismissal rate for cases brought under the federal securities laws is less than half the overall dismissal rate for such cases (based on the reported dismissal rate by one authoritative study). The firm serves as monitoring, evaluation, and/or litigation counsel to over 100 institutional investors, which includes 17 statewide public employee retirement systems with more than $50 billion in assets.
Antitrust Litigation Berman Tabacco's antitrust practice has a national reputation for prosecuting class actions that involve anticompetitive conduct and conspiracies to fix or maintain prices. Over the years, the firm has played a major role in the prosecution of numerous landmark antitrust cases and has been at the forefront of some of the largest antitrust settlements—recovering over a billion dollars for class members and changing business practices of defendant companies. The following are examples of the antitrust group's recent efforts:
In re Lithium Ion Batteries Antitrust Litigation, No. 13-md-02420-YGR (N.D. Cal.) Berman Tabacco was co-lead counsel for the class of direct purchasers of lithium-ion rechargeable batteries in a class action alleging that defendant manufacturers participated in a conspiracy in violation of federal antitrust laws to fix the prices of lithium-ion rechargeable batteries (which are commonly used in devices such as notebook computers, cell phones, and digital cameras). The firm successfully negotiated settlements totaling $139.3 million, which were approved in May 2018.
Laydon v. Mizuho Bank, Ltd., No. 1:12-cv-03419 (GBD) (S.D.N.Y.) & Sonterra Capital Master Fund, Ltd. v. UBS AG, No. 1:15-cv-05844 (GBD) (S.D.N.Y.) Berman Tabacco is counsel for plaintiffs representing two large public pension funds in actions alleging that bank traders and their affiliates colluded in violation of antitrust laws to manipulate the Euroyen TIBOR and Yen LIBOR rates—benchmark rates used to determine interest rates and to price Japanese Yen-based financial instruments. As of September 2019, partial settlements totaling $307 million have been achieved, of which $236 million have been finally approved.
Sullivan v. Barclays PLC, et al., No. 13-cv-02811 (PKC) (S.D.N.Y.) Berman Tabacco represents a public pension fund in a class action that it joined as named plaintiff, which alleges that over a dozen major banks colluded in violation of the antitrust laws to manipulate the EURIBOR, a global reference rate used to benchmark and price over $200 trillion of financial products. As of September 2019, partial settlements total $309 million.
Whistleblower Representation Berman Tabacco's whistleblower practice group assists individuals wishing to expose fraud perpetrated against the federal government, states, and corporations, working to obtain the compensation and protections afforded by the False Claims Act, the U.S. Securities and Exchange Commission Whistleblower Program, the Commodities Futures Trading Commission Whistleblower Program, and the Internal Revenue Service Whistleblower Program. Berman Tabacco helps whistleblowers engage appropriate government entities to right wrongs—enforced either by those agencies or through separate litigation.