Labaton Keller Sucharow LLP > New York, United States > Firm Profile

Labaton Keller Sucharow LLP
140 BROADWAY
NEW YORK, NY 10005
NEW YORK
United States

Dispute resolution > Securities litigation: plaintiff Tier 1

The securities litigation practice at Labaton Keller Sucharow LLP in New York has undergone many changes in the last year, as the mantle of leading the practice has been passed on a younger generation. Firm chair Christopher Keller and head of litigation Jonathan Gardner still oversee the practice, but the leadership role is now in the hands of highly respected litigators Carol Villegas and Michael Canty. Clients note that they are ‘very responsive to any questions that arise, and handle matters in a very professional manner’. Villegas, is currently leading a securities class action against PayPal Holdings, Inc., which alleges that the company touted strong growth to get new accounts but was fueling this growth by essentially paying people to sign up, and that ‘bot farms’ were used to create fake accounts. Working with Eric Belfi, Villegas also secured a $73m recovery in a case against data analytics company Nielsen, which was alleged to have misrepresented the strength of its consumer purchasing measurement business, and the impact of European data privacy regulations. Canty’s recent track record includes working with Michael Rogers to secure a $125m settlement in a case against Alexion Pharmaceuticals, Inc. Up-and-coming partner James Christie also plays a key role in the practice. Thomas Dubbs and James Johnson recently retired from the firm.

Practice head(s):

Christopher Keller; Jonathan Gardner

Other key lawyers:

Testimonials

‘I have worked very closely with members of this firm for the last six years. The are very responsive to any questions that arise, and handle matters in a very professional manner.’

‘Jonathan Gardner is seasoned, strategic, and has high integrity and superb judgment.’

‘Carol Villegas is one of the up and coming stars of this bar, highly knowledgeable and well-prepared, a tenacious advocate.’

‘First-class team of trial lawyers with deep knowledge of the federal securities laws. Labaton is one of the most effective firms in the US in securities litigation.’

Key clients

Wayne County Employees’ Retirement System

Teacher Retirement System of Texas

Border to Coast Pensions Partnership

Rhode Island State Investment Commission

West Virginia Investment Management Board

Indiana Public Retirement System

Utah Retirement Systems

Public Employee Retirement System of Idaho

Public Employees’ Retirement System of Mississippi

Oklahoma Firefighters Pension & Retirement System

Work highlights

  • Representing Steamfitters Local 449 Pension Plan, the firm achieved the historic $1B cash settlement just weeks before trial. The settlement ends the dispute arising from a $23.9 billion conversion of Class V stock in a controversial 2018 deal.
  • Achieved a $90M settlement (preliminarily approved) serving as lead counsel representing lead plaintiffs the Carpenters Pension Trust Fund for Northern California and the Carpenters Annuity Trust Fund for Northern California, as well as class representative the City of Providence Employee Retirement System, in a securities class action against The Allstate Corporation, the company’s CEO Thomas J. Wilson, and its former President of Allstate Protection Lines Matthew E. Winter.
  • Achieved a $125 million settlement (preliminarily approved) serving as co-lead counsel representing Public Employee Retirement System of Idaho (PERSI) in a securities fraud case against Alexion Pharmaceuticals, Inc. and certain of its executives. The suit alleges that Alexion, a pharmaceutical drug company that generated nearly all of its revenue from selling the Company’s flagship drug, Soliris, made materially false and misleading statements and omissions principally connected to Alexion’s sales practices in connection with the marketing of Soliris.

Dispute resolution > M&A litigation: plaintiff Tier 2

Labaton Keller Sucharow LLP‘s Delaware office is home to ‘a first-rate stockholder litigation practice‘ and clients note that the lawyers led by the highly esteemed Ned Weinbergeridentify good cases, discover the facts, and know the law as well as anyone on either side of the stockholder litigation bar‘. Weinberger, up-and-coming partner Mark Richardson, and newly promoted Brendan Sullivan are ‘extremely hardworking and knowledgeable, have good judgement and are tremendous oral advocates‘. All three, along with Michael Wagner recently served as co-lead counsel in a consolidated class action brought by investors in Sears Hometown and Outlet Stores challenging the take-private of the company by controlling stockholders, principally Edward S. Lampert. The firm’s most recent flagship result for was the award of a $1bn as settlement from Dell in a class action arising from a $23.9bn transaction involving the conversion of Dell Class V Common Stock. Led by Weinberger, plaintiffs alleged that Dell’s controlling stockholders– Michael Dell and Silver Lake Group – breached their fiduciary duties and expropriated billions of dollars in value from Class V stockholders.

Practice head(s):

Ned Weinberger

Testimonials

‘Labaton has an extremely deep, knowledgeable and experienced bench of attorneys that is unmatched in the Delaware plaintiff’s bar.’

‘Ned Weinberger, Mark Richardson and Brendan Sullivan are extremely hardworking and knowledgeable, have good judgment and are tremendous oral advocates.’

‘Ned Weinberger and his team have developed a first-rate stockholder litigation practice. They identify good cases, discover the facts, and know the law as well as anyone on either side of the stockholder litigation bar.’

‘Ned Weinberger is the standout of the group. He has an unusually calm and effective demeanor for a high-stakes plaintiffs’ lawyer. He manages to present his positions aggressively while sounding more scholarly in tone, and he never gets rattled or pushed off of his position.’

Key clients

Steamfitters Local 449 Pension Plan

Public Employees’ Retirement System of Mississippi

Nantahala Capital Partners II Limited Partnership

Massachusetts Laborers’ Pension Fund

Cambridge Retirement System

Employees’ Retirement System of Rhode Island

Bricklayers Pension Fund of Western Pennsylvania

Teamsters Local 443 Health Services & Insurance Plan

Pembroke Pines Firefighters & Police Officers Pension Fund

City of Warwick Retirement System

Oklahoma Firefighters Pension & Retirement System

Work highlights

  • Representing Steamfitters Local 449 Pension Plan, the firm achieved a $1bn cash settlement just weeks before trial. The settlement ends the dispute arising from a $23.9 billion conversion of Dell’s Class V stock in a controversial 2018 deal.
  • Representing Public Employees’ Retirement System of Mississippi,  achieved a $79m partial settlement against former Columbia executives Robert Skaggs, Jr. and Stephen Smith, and TransCanada Corporation, now known as TC Energy. The action alleged that the July 1, 2016, acquisition of Columbia by TransCanada was unfair to Columbia stockholders and the product of breaches of fiduciary duty and aiding and abetting the same.
  • Representing Employees’ Retirement System of Rhode Island, achieved a $30m settlement and new corporate governance and compliance terms, as well as the addition of two independent members to Guess Inc’s board and formation of a diversity, equity and inclusion committee in a stockholder derivative action.
Firm Overview

Founded in 1963, Labaton Keller Sucharow stands as a tenacious advocate for investors and consumers. The Firm represents many of the largest institutional investors worldwide and has secured billions of dollars in landmark recoveries, earning a reputation as a renowned global leader. The Firm specializes in representing clients in U.S. and Non-U.S. securities litigation, consumer protection and data privacy litigation, and corporate governance and shareholder rights litigation, as well as alternative dispute resolution. The Firm’s success is built on its team of more than 80 attorneys as well as its industry-leading in-house investigators, financial analysts, and forensic accountants. Labaton Keller Sucharow’s offices are strategically located in New York, Wilmington, and London, and Washington, D.C.

Main Areas of Practice

Securities Litigation:
Representing institutional investors around the globe, Labaton Keller Sucharowis a highly regarded securities litigation powerhouse that provides global securities portfolio monitoring and advisory services to more than 250 institutional investors with collective assets under management in excess of $3.5 trillion. Through these actions, Labaton Keller Sucharow has recovered more than $25 billion in the aggregate for investors. At every stage, from investigation to the litigation of claims, we work closely with our clients to provide the information and analysis necessary to fully protect their investments. The detailed nature of Labaton Keller Sucharow’s methods for evaluating filed and proposed actions is reflected in the results we have achieved prosecuting class actions. The Firm recently secured victories in In re SCANA Corporation Securities Litigation ($192.5 million recovery); Boston Retirement System v. Alexion Pharmaceuticals, Inc. ($125 million recovery); In re The Allstate Corporation Securities Litigation ($90 million recovery); In re Nielsen Holdings PLC Securities Litigation($73 million recovery); City of Warren Police and Fire Retirement System v. World Wrestling Entertainment, Inc. ($39 million recovery); and Avila v. LifeLock, Inc. ($20 million recovery), among others. Along with securing newsworthy recoveries, the Firm has a track record for successfully prosecuting complex cases from discovery to trial to verdict. “Labaton Keller Sucharow has a deep and experienced team in the securities litigation space. The expertise they display gives us a high degree of confidence in the successful litigation of our class action cases.” We have been named Securities Litigation Firm of the Year by The National Law Journal’s Elite Trial Lawyers and Securities Practice Group of the Year byLaw360, among other accolades.

Corporate Governance & Shareholder Rights Litigation:
Our breadth of experience in shareholder advocacy has also taken us to Delaware, where we press for corporate reform through our Wilmington office. These efforts have already earned us a string of enviable successes, including the recent historic $1 billion cash settlement, just weeks before trial, for former Dell stockholders—the largest recovery prior to judgment ever achieved in a fiduciary duty action in the Delaware Court of Chancery, and a $79 million partial settlement between individual defendants, in addition to going to trial as to Plaintiffs’ remaining claims against former Columbia executives and TransCanada Corporation, n/k/a TC Energy, among others. Labaton Keller Sucharow’s Corporate Governance practice has had a record two years including taking three cases through trial, settling two cases right before trial, and multiple other settlements. Our Delaware office has earned recognition as Shareholder Rights Litigation Firm of the Year by The National Law Journal’s Elite Trial Lawyers and as a Delaware Powerhouse by Law360.

Consumer Protection and Data Privacy Litigation:
Labaton Keller Sucharow is dedicated to working on behalf of consumers who have been wronged by fraud in the marketplace. Built on our world-class litigation skills, deep understanding of federal and state rules and regulations, and an unwavering commitment to fairness, our Consumer Protection and Data Privacy Practice focuses on protecting consumers and improving the standards of business conduct through litigation and reform. Our team achieved a historic $650 million settlement in the In re Facebook Biometric Information Privacy Litigation matter—the largest consumer data privacy settlement ever, and one of the first cases asserting biometric privacy rights of consumers under Illinois’ Biometric Information Privacy Act (BIPA).

International Work: Non-US Securities Litigation:
Labaton Keller Sucharow’s Non-U.S. Securities Litigation Practice is comprehensive, covering all aspects of non-U.S. actions. To this end, the Firm not only identifies all non-U.S. actions and verifies a client’s eligibility but also performs a thorough investigation and analysis for each action to which our clients have exposure—the depth of which is wholly unique to the Firm. Labaton Keller Sucharow serves, or has served, as liaison counsel for clients in more than 45 such matters and has helped secure significant recoveries for clients.

Department Name Email Telephone
https://www.labaton.com/ourpeople/christopher-keller Christopher Keller
https://www.labaton.com/ourpeople/michael-p-canty Michael Canty
https://www.labaton.com/ourpeople/carol-villegas Carol Villegas
https://www.labaton.com/ourpeople/eric-belfi Eric Belfi
https://www.labaton.com/ourpeople/thomas-dubbs Thomas Dubbs
https://www.labaton.com/ourpeople/ned-weinberger Ned Weinberger
https://www.labaton.com/ourpeople/jonathan-gardner Jonathan Gardner
Number of Partners : 20
Number of Lawyers : 50