Securities Litigation
The firm has actively engaged in the litigation and arbitration of numerous securities cases including the prosecution or defense of companies and individuals in connection with claims involving the sale of unregistered securities, fraud in connection with the purchase or sale of securities, broker-dealer responsibilities, and insider trading and include the precedent setting case before the U.S. Supreme Court, Gustafson, holding that Section 12(a)(2) liability cannot attach unless there is an obligation to distribute the prospectus.
Recent representations include:
- In re UniCapital Securities Class Action (United States District Court for the Southern District of Florida). Class action arising out of UniCapital IPO and involving 1933 Act and 1934 Act claims.
- Litigation LLC v. The Estate of Robert New (United States Bankruptcy Court for the Southern District of New York). Common law fraud, state law claims.
- Spagnola v. Gregory Kilrea, et al. (United States District Court for the Northern District of Illinois). Class action arising out of purchase by HA-LO Industries, Inc. of Starbelly.com. and involving 1934 Act and 10b-5 claims.
- Littman, et al. v. The Estate of Robert New (United States District Court for the Southern District of Florida). 1933 Act claims arising out of a purchase of a leasing company as part of a roll-up transaction.
- DeLeonardis v. Berg, et al.(United States District Court for the Eastern District of New York). Represented accountant in securities fraud action arising out of sale of investments in Bennett Funding Group and other related entities.
- Cyber Media Group, Inc. v. Island Mortgage Network, Inc.(United States District Court for the Eastern District of New York). Representing accounting firm in defense of securities claims arising from the sale of an Internet advertising firm to an on-line brokerage firm, which was accomplished by a stock-for-stock exchange. Claims have been filed against the sellers and two accounting firms alleging securities fraud, RICO violation and a variety of common law claims.
- Hager v. Schawk, Inc. (United States District Court for the Northern District of Illinois).Defense of 10b-5 securities class action brought by shareholders alleging violations of federal securities laws and breach of fiduciary duties against Schawk, Inc. and its directors. The complaint alleged that minority shareholders in a public company in which Schawk held the majority interest did not receive a fair price for their shares when Schawk made an offer to acquire the balance of the shares. The case settled during pretrial proceedings.
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