Pomerantz Partner Austin P. Van focuses his practice on high-profile securities class actions. He currently heads the Firm’s representation of Lead Plaintiffs in a securities class action against Meta, which seeks to recover losses sustained by investors in Meta’s drop of 26% on February 3, 2022, the largest one-day drop in share price of an American company in history.
Austin also leads securities class actions against Faraday Future, an electric car manufacturer, and Franklin Wireless, a manufacturer of mobile hotspot devices. In both actions, the parties have recently reached tentative agreements to settle the matters on terms highly favorable to the class. In addition, Austin leads a securities class action against ATI Physical Therapy, in which the Court recently denied Defendant’s motion to dismiss the complaint.
Austin led Pomerantz’s securities class action against TechnipFMC, an oil and gas services provider. He uncovered the theory of this case: that TechnipFMC massively overstated its net income in its initial registration statement due to its use of incorrect foreign exchange rates. Austin successfully argued at oral argument in 2018 that the Court should deny defendants’ motion to dismiss the central claim in the matter. In 2019, Austin successfully argued Lead Plaintiff ’s motion for class certification and in 2020, the case was settled for approximately $20 million.
Austin led a successful securities class action at Pomerantz against Rockwell Medical, Inc. and served as co-lead counsel on the matter with another firm. Austin extensively investigated the facts of this case and drafted the operative complaint. At a pre-motion conference for defendants’ motion to dismiss, District Senior Judge Allyn R. Ross stated: “based on what I have reviewed, it is virtually inconceivable to me that the consolidated amended complaint could possibly be dismissed on a Rule 12(b)(6) motion or a Rule 9(b) motion.” Defendants declined even to move to dismiss the complaint and settled the case in 2019 for $3.7 million—a highly favorable settlement for the Class.
In 2020, Austin was named by Law360 as an MVP in Securities Litigation, an honor bestowed upon no more than six Securities Litigation attorneys nationwide each year. He has been recognized by Lawdragon as a Leading Plaintiff Financial Lawyer and has been named as a Recommended Lawyer by The Legal 500.
Updated Sep 2023
