Class Action Litigation: The Ins and Outs in 2015 and Beyond

Broadcast Date: Monday, November 16, 2015 from 12:00 pm to 2:00 pm (ET)
justice scale on top of a table
Joel S. Feldman
Kiran H. Mehta
Christopher M. Murphy
Jayne A. Goldstein


About Sidley Austin LLP

With a practice highly attuned to the ever-changing international legal landscape, Sidley has built a reputation for being a powerful legal adviser for global businesses. With 1,900 lawyers across 19 offices worldwide, Sidley maintains a commitment to providing quality legal services and to offering advice in litigation, transactional and regulatory matters spanning virtually every area of law.

Sidley’s extensive litigation experience includes a broad-based class action defense practice. Sidley has extensive experience in multi-district litigation, as well as the defense of class actions involving ERISA, insurance, privacy, consumer issues, antitrust, securities, labor, product liability and TCPA. Sidley also is at the forefront of appellate advocacy concerning class certification issues.

Sidley’s offices are found in Beijing, Boston, Brussels, Century City, Chicago, Dallas, Geneva, Hong Kong, Houston, London, Los Angeles, New York, Palo Alto, San Francisco, Shanghai, Singapore, Sydney, Tokyo and Washington, D.C.


About Troutman Sanders LLP

Founded in 1897, Troutman Sanders LLP is an international law firm with more than 600 lawyers practicing in offices located throughout the United States and Asia. The firm’s clients range from large multinational corporations to individual entrepreneurs and reflect virtually every sector and industry. The firm’s heritage of extensive experience, exceptional responsiveness and an unwavering commitment to service has resulted in strong, long-standing relationships with clients across the globe. In recognition of the firm’s strong service culture, Troutman Sanders has been on the BTI Client Service A-Team for 11 consecutive years. 


About McDermott Will & Emery LLP

McDermott Will & Emery LLP is a leading international law firm providing clients in the commercial, industrial, and financial markets a comprehensive offering of sophisticated legal services to address a wide range of business needs. Recognized for its outstanding client service, its commitment to total client satisfaction is a key attribute from which it build its client relationships. A strong and growing law firm, 1,100+ lawyers practice globally, with 20 locations worldwide, including a strategic alliance with MWE China Law Offices in Shanghai. 


About Pomerantz LLP

Pomerantz LLP is one of the nation’s foremost specialists in corporate, securities, antitrust and ERISA class litigation. The Firm was founded in 1936 by the late Abraham L. Pomerantz, one of the “pioneers who developed the class action/derivative action field.” Mr. Pomerantz rose to national prominence as a “champion of the small investor” and a “battler against corporate skullduggery.”

Today, led by Managing Partner Marc I. Gross, the Firm maintains the commitments to excellence and integrity passed down by Mr. Pomerantz. Mr. Gross has nearly forty years’ experience litigating securities fraud and derivative actions. He has been instrumental in some of the Firm’s biggest successes, such as In re Chesapeake Shareholder Derivative Litig., where a $12 million bonus was clawed back from the company’s CEO. In In re Comverse Technology, Inc., Mr. Gross, along with Senior Partners Patrick V. Dahlstrom and Jeremy A. Lieberman, obtained one of the largest recoveries ever for shareholders from an individual involved in a fraudulent scheme.

In March 2015, Pomerantz was selected as sole lead counsel, representing lead plaintiff Universities Superannuation Scheme, Ltd. (“USS”), in a historic securities class action against Petroleo Brasileiro SA (“Petrobras”). In July 2015, New York U.S. District Judge Jed S. Rakoff denied in most part Defendants’ Motion to Dismiss Lead Plaintiff’s Complaint. The class action against Petrobras, brought on behalf of all purchasers of common and preferred American Depositary Shares (“ADSs”) on the New York Stock Exchange, as well as purchasers of certain Petrobras debt, principally alleges that Petrobras and its senior executives engaged in a multi-year, multi-billion dollar money-laundering and bribery scheme, which was, of course, concealed from investors.

In 2013 and 2014, Pomerantz secured a series of significant victories in individual actions pursued on behalf of institutional investors in In re BP p.l.c. Securities Litigation, MDL 2185 pending in the U.S. District Court for the Southern District of Texas. Pomerantz defeated BP’s forum non conveniens arguments seeking dismissal of U.S. institutions and, later, foreign institutions, pursuing English common law claims seeking recovery of investment losses stemming from the 2010 Gulf oil spill in both NYSE-traded American Depository Shares and London Stock Exchange (LSE)-traded common stock. Pomerantz also defeated BP’s attempt to extend the Securities Litigation Uniform Standards Act to dismiss these claims. Thanks to these rulings, Pomerantz is now leading the only litigation following the Supreme Court’s decision in Morrison v. Nat’l Australia Bank, which foreclosed use of U.S. federal securities laws to recover for losses in foreign-traded stocks, where U.S. and foreign investors, pursuing foreign claims, seeking recovery for losses in foreign-traded stocks are doing so in a U.S. court.

For nearly 80 years, the Firm has consistently shaped the law, winning landmark decisions that have expanded and protected investor rights, and initiated historic corporate governance reforms. Securities Law 360, in its 2015 Glass Ceiling Report, ranked Pomerantz as #1 in Top Plaintiffs’ Class Action Law Firms for Women Attorneys.

Pomerantz represents some of the largest pension funds and institutional investors around the world, with combined assets of over $2 trillion – and growing – including union funds, state, county and municipal funds, insurance funds, hedge funds, national pension funds, and asset managers.