In Depth Experience
With lawyers in New York, California and Louisiana, dedicated solely to the practice of class action and individual investor securities litigation, Kahn Swick & Foti (“KSF”) is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including large state institutional investors, hedge funds and money managers – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has been lead, co-lead, or class counsel in many federal securities fraud and shareholder derivative lawsuits around the country that have achieved substantial recoveries, including prominent cases such as Erica P. John Fund, Inc. v. Halliburton Co., et al., No. 3:02-cv-1152 (N.D. Tex.) (fraud action resulting in $100 million recovery after previous class counsel, replaced by KSF, proposed a mere $6 million settlement); In re Bank of America Corp. Securities, Derivative, and Employment Retirement Income Security Act (ERISA) Litigation, 09 Civ. 580 (DC) (S.D.N.Y) (settlement in derivative action, including $62.5 million recovery for company and substantial corporate governance changes); In re Barnes & Noble Stockholder Derivative Litigation, C.A. No. 4813-VCS (Del. Ch. Ct.) (settlement in derivative action, resulting in recovery of $29 million for Barnes & Noble, Inc. in the form of reductions to principal and interest); Kasper v. AAC Holdings, Inc. et al., Case No. 3:15-cv-923 (M.D. Tenn.) (Honorable Jon P. McCalla, entered a final judgment and order in the consolidated securities class action lawsuit approving Plaintiffs’ $25 million recovery for investors); and In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA, (D.N.J.) ($19.5 million recovery).
In In re Petrobras Securities Litigation, No. 1:14-cv-9662 (S.D.N.Y.), KSF was a Member of the Plaintiffs’ Steering Committee for the Individual Actions (“PSC”), in coordination with the federal securities class action against Brazil’s state-controlled petrochemical company arising from “Operação Lava Jato,” the largest corruption scandal in the history of Latin America, whereby Plaintiffs alleged Defendants deliberately overpaid on various construction contracts in return for kickbacks. As a Member of the PSC, KSF was found by the Court to have “made a substantial contribution to the class,” June 22, 2018 Opinion and Order at 39 (D.E. 834), the result of which was a settlement of $3 billion for investors which returned approximately 65% more to shareholders than received in other individual actions.
KSF’s reputation for intensive due diligence in case investigation and evaluation is supported by a core philosophy that distinguishes KSF from many of its peers: KSF takes legal action and recommends that clients seek lead plaintiff status in class actions only in the strongest cases. According to the Stanford University Class Action Clearinghouse, KSF evaluated and advised its clients to file under 20% percent of all new securities cases last year. KSF’s selectivity translates into peace of mind for its clients.
KSF is comprised of a talented group of lawyers who possess undergraduate, graduate and law school degrees from universities including Stanford, Columbia, NYU, Cornell and Tulane. Many of KSF’s lawyers also have practiced at the nation’s premier litigation firms prior to joining the firm. The majority of KSF’s lawyers focus their practices exclusively on securities law. In addition, KSF is the only boutique securities litigation firm in the U.S. to count among its ranks a former State Attorney General. General Charles Foti, former Attorney General for the State of Louisiana, is a partner in the firm.
KSF accepts no fee unless it achieves a successful recovery. The firm believes that compensation should be measured by success. With a negotiated financial interest in the outcome of the litigation, KSF’s interests as advocates are perfectly aligned with those of our clients. We do not get paid unless we get results.
A Range of Solutions
Not everyone is looking to file a lawsuit. KSF’s comprehensive client services program, led by Managing Partner Lewis Kahn, allows funds to document compliance with their fiduciary responsibilities even if they never step forward as lead plaintiff. This is important at a time when daily headlines about scandals at corporations, investment banks, and mutual fund companies are prompting fund beneficiaries to ask tough questions about how their interests are being protected. KSF works with its clients to create securities litigation policies that establish how much money a fund must lose before considering legal action. KSF monitors its clients’ portfolios to gauge losses in new cases and compiles reports of these activities. The firm also produces reports listing all recent settlements, so institutional clients can keep tabs on their custodians’ efforts to collect claims.
The KSF Difference
We know that the preservation of your assets is important to you, and we are confident that our experience, resources and dedication can help you maximize your fund’s value by recovering assets that have been misappropriated by fraud and/or other corporate wrongdoing. KSF has demonstrated its ability to recover more and to burden its clients less. KSF has recovered 1600% more in the Haliburton action and is ready to put its energy and talent to work for your fund, today.