In Depth Experience
Headed by former Louisiana State Attorney General Charles Foti and with lawyers in Louisiana California and New York, dedicated solely to the practice of class action and individual investor securities litigation, Kahn Swick & Foti, LLC (“KSF”) is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including large state institutional investors, union funds, hedge funds and money managers – in seeking recoveries for investment losses emanating from corporate fraud and malfeasance at publicly traded companies. Over the past 15 years, KSF has been lead or co-lead counsel in many federal securities fraud and shareholder derivative lawsuits around the country that have achieved hundreds of millions of dollars of recoveries. Such actions include the prominent case of Erica P. John Fund, Inc. v. Halliburton Co., et al., No. 3:02-cv-1152 (N.D. Tex. March 31, 2017). The District Court in Texas has preliminarily approved a $100 million settlement for the Class after this action was litigated twice to the Supreme Court of the United States — where KSF was twice victorious. It is notable that other lead counsel previously replaced by KSF had attempted to settle this action for $6 million, years before — 1600% less than the amount achieved by our firm. Other notable cases litigated by KSF include: 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); and In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA, (D.N.J.) ($19.5 million recovery for the investor class).
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.