Kahn Swick & Foti prosecutes lawsuits on behalf of institutional and individual clients for stock fraud. The firm sues corporations who issue materially false and misleading statements to investors about the company’s financial condition and/or business prospects, thereby artificially inflating the price of the company’s stock. Ultimately, investors suffer losses when the truth is finally revealed and the stock falls on such news. KSF litigates both class actions and private/opt out actions depending on the amount of a client’s losses.
CURRENT CASES
- Abramson v. NewLink Genetics Corp., et al., 1:16-cv-03545-WHP
Southern District of New York
Lead Counsel - In re Chicago Bridge & Iron Co. N.V. Secs. Litig., 1:17-cv-1580-LGS
Southern District of New York
Lead Counsel - Dougherty v. Esperion Therapeutics, Inc., et al., No. 16-10089
Eastern District of Michigan
Co-Lead Counsel - Dr. Joseph F. Kasper, et. al. v. AAC Holdings, Inc., et. al., 3:15-cv-00923 (Consolidated)
Middle District of Tennessee, Nashville Division
Co-Lead Counsel - In re Eletrobras Securities Litigation, 15-cv-5754-JGK
Southern District of New York
Co-Lead Counsel - Erica P. John Fund, Inc. v. Halliburton Co., et al., No. 3:02-cv-1152
Northern District of Texas
Class Counsel and Special Counsel for Lead Plaintiff - Hogan v. Pilgrim’s Pride Corp. et al., 1:16-CV-2611-RBJ
District of Colorado
Lead Counsel - Kavra v. Health Insurance Innovations, Inc. et al., Case No. 8:17-cv-02186-EAK-MAP
Middle District of Florida
Lead Counsel - In re Orexigen Therapeutics, Inc., Securities Litigation, 15cv540 L (KSC)
Southern District of California
Lead Counsel - Pearlstein v. Blackberry Ltd., et al., 1:13-CV-07060-TPG
Southern District of New York
Lead Counsel - In re Petrobras Securities Litigation, 14-cv-9662
Southern District of New York
Member, Plaintiffs’ Steering Committee for Individual Actions. - In re Rocket Fuel, Inc. Securities Litigation, 4:14-cv-03998-PJH
Northern District of California
Co-Lead Counsel - Shawanaz v. Intellipharmaceutics Int’l Inc., et al., No. 1:17-cv-5761-JPO
Southern District of New York
Lead Counsel - Ziolkowski v. Netflix, Inc. et al., Case No., 4:17-cv-01700-HSG
Northern District of California, Oakland Division
Co-Lead Counsel
RECENT VICTORIES
Dr. Joseph F. Kasper, et. al. v. AAC Holdings, Inc., et. al., 3:15-cv-00923 (Consolidated). On July 14, 2017, the Hon. Jon P. McCalla certified a class of shareholders of AAC Holdings, Inc. (NYSE: AAC) in a lawsuit arising from Defendants’ misleading statements regarding a criminal investigation into the death of a patient. Judge McCalla also appointed KSF and one other law firm as Class Counsel. The case is Kasper v. AAC Holdings, Inc., No. 15-cv-00923, pending in the Middle District of Tennessee.
Erica P. John Fund, Inc. v. Halliburton Co., et al., No. 3:02-cv-1152 (N.D. Tex. March 31, 2017). District Court preliminarily approves $100 million settlement for the Class previously certified on July 25, 2015 and sets final Settlement Fairness Hearing on July 31, 2017. KSF serves as Class Counsel and Special Counsel for Plaintiff.
In re Eletrobras Securities Litigation, 15-cv-5754-JGK (S.D.N.Y.). On Monday, March 27, 2017, the Hon. John G. Koeltl of the United States District Court for the Southern District of New York entered an Opinion and Order denying certain defendants’ motion to dismiss. This matter involves one of the largest kickback corruption schemes in Brazilian history. The complaint alleges that defendants made materially false and misleading statements to investors concerning the award of contracts for multi-billion dollar construction projects controlled by Eletrobras and its subsidiaries. In his opinion, Judge Koeltl determined that lead plaintiffs had standing to assert claims on behalf of investors who had purchased either American Depositary Shares, bonds or both during the Class Period. The Court also held that lead plaintiffs had stated facts with sufficient particularity to successfully allege that certain defendants had violated Section 10(b), Rule 10b-5, and Section 20(a) of the Securities Exchange Act of 1934, including sustaining a claim for scheme liability against the Company.
Erica P. John Fund, Inc. v. Halliburton Co., et al., 131 S. Ct. 2179 (2011). Federal securities class action against oilfield services company and a high-level officer, in which KSF was part of the team that obtained a unanimous decision by the U.S. Supreme Court vacating and remanding a decision of the Fifth Circuit regarding class certification.
Settled Cases
In re Virgin Mobile USA IPO Litigation, 2:07-cv-05619-SDW-MCA (D.N.J.), Co-Lead Counsel, federal securities IPO-related class action against a company providing wireless communication services, certain officers and directors, certain controlling shareholder entities, and Virgin’s underwriters, resulting in a cash settlement of $19.5 million for investors.
In re Tesco PLC Securities Litigation, 14 Civ. 8495 (RMB) (S.D.N.Y.), Lead Counsel, federal securities class action against one of the world’s largest grocery and general merchandise retailers based in the U.K., resulting in an all-cash settlement of $12 million for investors in ADRs and F shares in the United States.
In re BigBand Networks, Inc Securities Litigation, 3:07-CV-05101-SBA (C.D. Cal.), Co-Lead Counsel, federal securities class action brought against a computer hardware corporation, certain officers and directors of the Company, and the Company’s Underwriters, resulting in a cash settlement of $11 million for investors.
In re U.S. Auto Parts Networks, Inc. Securities Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.), Lead Counsel, federal securities IPO-related class action against an online automotive supply company, certain members of its board of directors, and its underwriters, resulting in a cash settlement of $10 million for investors.
In re CytRx Corp. Securities Litigation, 2:14-CV-01956-GHK (PJWx) (C.D. Cal.), Lead Counsel, federal securities class action brought against biotechnology corporation, certain officers and directors of the Company, and the Company’s Underwriters, resulting in a settlement of $8.5 million for investors.
In re ShoreTel, Inc. Securities Litigation, 3:08-cv-00271-CRB (N.D. Cal.), Lead Counsel, federal securities IPO-related class action brought against an Internet protocol telecommunications company, certain of its officers and directors, and its underwriters, resulting in a cash settlement of $3 million for investors.