Mr. Fox concentrates his practice in securities, consumer and antitrust litigation.
Mr. Fox has been a lead counsel in many significant securities class action cases, including as a senior member of the litigation and trial team in In re Bank of America Corp. Securities, ERISA, & Derivative Litigation (“In re Bank of America”). The case arose out of Bank of America’s acquisition of Merrill Lynch. In re Bank of America which settled for $2.425 billion plus significant corporate governance reforms and stands as one of the largest securities class action settlements in history.
In 2022 Mr. Fox represented clients in individual actions against Allianz Global Investors, alleging breach of contract and other causes of action arising out of Allianz’s sale of investment funds plaintiffs. Kaplan Fox secured recoveries for those clients of more than $640 million.
Other significant cases in which Mr. Fox served as lead counsel include: In re Merrill Lynch & Co., Inc. Securities, Derivative, & ERISA Litigation, (in which he negotiated a $475 million settlement); In re Fannie Mae 2008 Securities Litigation, ($170 million settlement) as well as an individual opt-out action on behalf of a public pension fund arising out of the fraud at Petrobras in Brazil.
Currently, Mr. Fox is a lead counsel in a derivative action in Delaware Chancery Court arising out of the directors and certain officers of Facebook failing to protect the privacy of Facebook users which resulted in an historic fine imposed by the FTC of $5 billion. Additionally, Mr. Fox is a lead counsel in a securities class action against the Brazilian mining company Vale arising out of the Defendants failure to disclose risks associated with its tailing dams, one of which collapsed in 2019 causing economic damage to purchasers of Vale securities.
In September 2023 Mr. Fox was appointed as Lead Counsel in a securities class action, representing a large public pension fund client as Lead plaintiff, against Charles River Laboratories arising out of allegations that it improperly imported non -human primates for research purposes.
Mr. Fox was a member of the co-lead counsel team in litigation against Apple, which alleged that Apple, through software updates, improperly slowed its customers iPhones due to problems with the phones’ batteries. In March 2021, the court formally approved a settlement with a minimum cash value of $310 million.
Mr. Fox currently serves on the NYS Bar Association Securities Litigation Committee, The Federal Bar Council’s Securities Litigation Committee and served two terms on the Council of Institutional Investors Markets Advisory Council. Mr. Fox is also a speaker on topics related to securities litigation.
Mr. Fox has also achieved significant recoveries on behalf of clients in major antitrust litigation including against Visa/ Mastercard. Currently, Mr. Fox is part of the Lead counsel group in antitrust litigation against Google.
Updated Oct 2023
