Wolf Haldenstein has a venerable history of asserting the rights of investors in companies whose management violates the securities laws, or fiduciary or state statutory duties. The firm achieves this primarily through class action and derivative lawsuits.
As the Supreme Court of the United States has noted, private class actions provide "'a most effective weapon in the enforcement of the securities laws and are 'a necessary supplement to [SEC] action.'" Bateman Eichler, Hill Richards, Inc. v. Berner, 472 U.S. 299, 310 (1985) (quoting J.I. Case Co. v. Borak, 377 U.S. 426, 432 (1964)). As the United States Court of Appeals for the Third Circuit has observed, the "effectiveness of the securities laws may depend on large measure on the application of the class action device." Eisenberg v. Gagnon, 766 F.2d 770, 785 (3d Cir. 1985).
The Firm's experience in class action securities litigation, in particular, securities fraud claims arising under the federal securities laws and regulations, including the Private Securities Litigation Reform Act of 1995 ("PSLRA"), is particularly extensive. The Firm has recouped billions of dollars on behalf of classes of investors who purchased stock at prices artificially inflated by the defendants' material misstatements or omissions.
Wolf Haldenstein also has extensive experience litigating shareholder derivative actions, where shareholders bring actions on behalf of the corporation against persons who have harmed the corporation. For example, shareholders might claim that the officers and directors of a company breached their fiduciary duties to the company or its shareholders by engaging in "self-dealing," or arranging a corporation's affairs in ways that benefit an officer and his friends at the expense of the corporation.
Finally, Wolf Haldenstein has an established practice defending the interests of shareholders of corporations involved in mergers or acquisitions. In such situations, a corporation's officers and directors are required by law to maximize the value of the shareholders' investments.
Our cases page lists corporations against which cases have been filed on behalf of investors in those companies. If you own or have owned securities in any of these companies, you may be eligible to become an investor representative or a member of a class that is seeking relief, and we encourage you to find out more by clicking on the company name or stock symbol.
If you are aware of or suspect any practices that are or may be in violation of the securities laws or of fiduciary duties to a corporation's shareholders, occurring now or at some time in the past, please visit our report a fraud page.
Wolf Haldenstein is currently the Court-appointed lead counsel, co-lead counsel, or executive committee member in some of the largest and most significant securities class action lawsuits currently pending across the United States, including:
The Investment Committee of the Manhattan and Bronx Surface Transit Operating Authority Pension Plan v. JPMorgan Chase Bank., N.A. (Securities Lending Class Action), 09 Civ 4408 (SAS) (SNDY).
Newman v. Family Management, et al. (Madoff feeder fund litigation re FM Low Volatility Fund LP), 08-cv-11215 (LBS) (SDNY).
In re Tremont Securities Law, State Law and Insurance Litigation, Insurance Action, (Madoff related litigation against certain insurance companies, investment advisors and funds), 09-cv-557 (TPG) (SDNY).
In re Initial Public Offering Securities Litigation, 21 MC 92 (SAS) (S.D.N.Y.).
In re Collins & Aikman Corp. Sec. Litigation, 06-cv-13555-AJT-VMM (E.D. Mich.).
Inland Western Securities Litigation, Case No. 07 C 6174 (N.D. Ill.)
In re Adelphia Communications Corp. Securities and Derivative Litigation ("Adelphia Business Actions"), 03-ML 1529, 03 CV 5755 (LMM) (S.D.N.Y.).
In re Thornburg Mortgage, Inc. Securities Litigation, No. 07-815 (D.N.M.).
Wolf Haldenstein is a leader in the derivative litigation field and is currently leading counsel in some of the most significant shareholder derivative actions pending in the United States, including:
In re Mutual Fund Investment Litigation, MDL No. 1586 (D. Md.).
AIG, Inc. Consolidated Derivative Litigation, C.A. No. 769-N (Del. Chanc.).
In re Citigroup, Inc. Shareholder Derivative Litigation, C.A. No. 3338-cc (Del. Ch. Ct.).
In re Ambac Financial Group, Inc. Shareholder Derivative Litigation, C.A. No. 3521-VCL (Del. Ch. Ct.).
In re Medtronic, Inc. Derivative Action, No. 08-cv-00092 (D. Minn.).
In re Silicon Storage Technology, Inc. Derivative Litigation, No. 606-04310JF (N.D. Cal.).
In re MBIA Derivative Action, 08 Civ 1515 (KTK) (S.D.N.Y.).
In re R&G Financial Corp. Derivative Litigation, 1:05-CV-5547 (S.D.N.Y.).
In re Atmel Corp. Derivative Litigation, Master File No. 06-4592 JF (HRL) (N.D. Cal.).
In re Novellus Systems, Inc. Derivative Litigation, Master File No. C 06-03514 RMW (N.D. Cal.).
In re Verisign, Inc. Derivative Litigation, Master File No. C-06-4165-PJH (N.D. Cal.).
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