Pomerantz partner Emma Gilmore is a high-profile, high-stakes class action securities litigator.
Emma led a successful securities class action against financial powerhouse Deutsche Bank AG and its top executives. The suit alleged that the bank habitually waived any meaningful due diligence for its high-net-worth clients—including former financier and convicted sex offender Jeffrey Epstein—while falsely representing that it had robust anti-money-laundering and Know Your Customer policies in place. Even after learning that 40 underage girls had testified that Epstein had sexually assaulted them, Deutsche Bank maintained Epstein as a preferred client because he was generating millions in fees and referrals for the bank.
In 2023, Emma secured final approval of a settlement with Deutsche Bank that recouped nearly 50% of estimated damages for investors—an extraordinarily high rate for a securities class action. She demonstrated that corporations—and their executives—can be held accountable by shareholders for poor governance, particularly concerning #MeToo and other ESG issues.
Emma led the Firm’s class action lawsuit against Arconic, Inc., the U.S. company that manufactured the flammable aluminum cladding implicated in spreading the 2017 Grenfell Tower fire in London, which killed 72 people and injured 70 more. The suit alleged Arconic misled the public about the safety of its aluminum cladding, leading to significant losses when the truth emerged. In August 2023, the U.S. District Court for the Western District of Pennsylvania granted final approval of a $74 million settlement for defrauded investors. This victory not only vindicated the shareholders but also demonstrates Emma's unwavering commitment to holding corporations accountable for public safety failures.
Emma co-led the Firm’s historic class action litigation against Brazil's state-run oil company, Petrobras, stemming from a multi-billion-dollar bribery and kickback scheme. In 2018, the firm secured a record-breaking $3 billion settlement for defrauded shareholders, the largest securities class action recovery in a decade and the fifth largest in U.S. history. Emma’s work resulted in a major ruling from the Second Circuit Court of Appeals that expanded investor rights by overturning the heightened ascertainability requirement. Emma’s strategic leadership, including deposing key witnesses and opposing defendants’ attempts to dismiss the case, underscores her skill in navigating complex litigation, solidifying her reputation as a formidable advocate for investor rights.
Emma serves on Pomerantz’s Management Committee and its Anti-Harassment and Discrimination Committee.
Emma’s numerous awards include Benchmark Litigation: 2024 Plaintiff Litigator of the Year; National Law Journal: 2023 Plaintiffs’ Attorney Trailblazer, 2021 Elite Women of the Plaintiffs’ Bar; New York Law Journal: 2023 Plaintiffs’ Attorney Trailblazer; Law360: 2018 and 2023 MVP in Securities Litigation; Lawdragon: Leading Plaintiff Financial Lawyers.
Updated Oct 2024
