Securities Litigation & shareholders Derivative Actions
Representative Cases
- Presided over consolidated shareholders’ class action alleging securities claims under 1933 Securities Act arising from an initial public offering. The case proceeded through multiple rounds of motions regarding the pleadings, stay motions were filed, and a class was certified. Class action settled shortly before trial.
- Presided over pretrial proceedings and court trial on shareholders derivative action claims arising from sale of the corporation for allegedly inadequate price, due to breach of corporate duties.
- Presided over pretrial proceedings in securities class actions and shareholder derivative actions claiming violations of Sections 11 and 12 of the federal Securities Act in regard to initial public offerings. Key issues included enforceability of choice of law provisions and forum selection provisions.
- Presided over shareholder class action against solar power provider for false and misleading offering statements by the company, its underwriters, and its directors. Case settled after completion of all pretrial proceedings, a few days before commencement of trial.
- Handled investment fraud cases filed by hundreds of individuals who were victims of a Ponzi scheme, and the corporation was placed in bankruptcy. Civil proceedings in state court including 3-month jury trial of test cases, and subsequent 4-month jury trial of remaining individual cases. Most corporate defendants settled before trial, and the case proceeded to jury trial against the officers and directors as well as the CPA auditor.