Mr Michael Hanin > Kasowitz Benson Torres LLP > New York, United States > Lawyer Profile

The securities litigation practice at Kasowitz Benson Torres LLP in New York is ‘incredibly knowledgeable about the cases they work on but what sets them apart is the focus on resolution strategy’. Sheron Korpus, Michael Hanin and Stephen Tountas are the lead partners. Korpus and emerging partner talent Andrew Schwartz ‘work well as a team, Andrew having the detail at his fingertips whilst Sheron is able to focus on the strategy’. They negotiated a $420m settlement in a major securities class action and numerous direct actions for Teva Pharmaceuticals, the world’s largest generic drug manufacturer, which was accused of misleading disclosures regarding the pricing of its drugs. Highlights for Tountas include defending Prem Parameswaran, the former CFO of Eros Int’l, in connection with a putative securities class action arising from a series of alleged misrepresentations.

Kasowitz Benson Torres LLP in New York is one of few firms that handles both plaintiff and defense work in the securities litigation arena, giving it a rare perspective on what it takes to settle successfully resolve a case. It frequently handles bet-the-company matters on behalf of institutional investors such as hedge funds, international banks and foreign sovereigns, against major financial institutions. Renowned litigator Marc Kasowitz  ‘has a great reputation in securities litigation’ and continues to be involved in high-profile matters. A prime example is his work for MBIA Insurance Corporation in matters against RMBS securitization trusts concerning breaches of representations and warranties made by the sellers and loan originators with respect to defective mortgage loans pooled in these mortgage-backed securitizations. The other key partners in the practice are Sheron Korpus and Michael Hanin, who both acted for investors in Student National Collegiate Student Loan Trusts – securitizations of student loans worth more than $2bn – and Stephen Tountas who is leading the firm’s work for Public Employees’ Retirement System of the State of Mississippi against Valeant Pharmaceuticals, claiming that the company misled shareholders regarding its core business model and improperly accounted for the sales of certain unreported subsidiaries due to the ‘improper conduct’ of certain former officers.