The New York office of Herbert Smith Freehills Kramer is the hub of its securities litigation practice, which is overseen by chairman Gary Naftalis and head of litigation Barry Berke. The firm is well known for advising accounting firms, broker-dealers and mutual funds on regulatory enforcement proceedings and securities cases. A standout securities litigator is Michael Dell, who recently acted for UK accountancy firm Deloitte in a case alleging fraud and negligence in its consulting and audit work for Russia’s Trade Bank, in which plaintiffs had invested. Following a move for summary judgment the case was settled favourably for the defendants. Experienced trial lawyer Kerri Ann Law is also noteworthy, particularly for her role in representing VimpelCom in a securities fraud class action.
Legal 500 Editorial commentary
- Profile
- Social
Accolades
Client satisfaction
Key clients
- Ernst & Young
- Centripetal Networks, LLC
- Steven Rogers and Jonathan Rogers, founders of Centripetal Networks, Inc.
- VEON Ltd. (f/k/a VimpelCom, Ltd.)
- Oppenheimer Funds
- Deloitte LLP (UK), Deloitte CIS Limited, and Deloitte CIS Holdings Limited
- Daniel Beck, former CFO of Silicon Valley Bank
- Luke McGee, the former CEO of AdaptHealth Corp
- Enzo Biochem, a New York Stock Exchange traded life sciences and biotechnology company, and four present or former directors
- Town of Ramapo
Work highlights
- Representing UAE-based EYME in its defense of allegations by Plaintiffs Dr. Bavaguthu Raghuram Shetty (“Shetty”) and the UAE-based health services company he founded, Neopharma LLC (“Neopharma”), that certain Neopharma executives engaged in a fraudulent roundtripping scheme and other misconduct, and two foreign banks, Ernst & Young UK, and EYME conspired with them.
- Representing Centripetal Networks, LLC in defence of claims bought by an investor that it refused to provide financial information.
- Private equity fund Option3 Cyber Investments LLC filed a lawsuit in Delaware Chancery Court alleging breach of fiduciary duty and accusing the founders of Centripetal Networks, Inc., Steven and Jonathan Rogers, of participating in a "pointless" internal merger to bilk investors for individual gain, alleging that they undervalued the company, withheld financial disclosures and manipulated stock votes.
Lawyers
Practice head
Gary Naftalis; Barry Berke
Other key lawyers
Michael Dell; Kerri Ann Law