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Securities litigation and shareholder derivative lawsuits form an integral part of New York-based law firm Scott + Scott‘s work for plaintiffs, which include a roster of institutional investors including city, county, and state retirement systems and public pension funds. Supported by an in-house investigative department, the firm’s monitoring/case evaluation service – which recently expanded to also scrutinize potential global situations for European institutional investor clients and for select US funds with extensive worldwide exposure – is well-placed to identify potential violations of law adversely impacting overall fund values, ensuring an excellent success rate fending off motion to dismiss pleadings. Deborah Clark-Weintraub has achieved some notable settlements for clients, including in cases linked to misleading statements related to securities offerings and merger processes. The other primary contacts include Thomas Laughlin, who has had success in securities cases at trial and appellate level, and managing partner David Scott, who handles some securities work for institutional investors alongside his more active antitrust practice.
Legal 500 Editorial commentary
Key clients
- Plymouth County Retirement Association
- State of Rhode Island Office of the General Counsel
Work highlights
- Represented investors (as co-lead counsel) who purchased American Depositary Shares (ADS'), alleging Micro Focus made false or misleading statements and/or omitted material information in its Registration Statements when issuing the ADSs. The Firm and co-counsel represented plaintiffs in the California state securities action. After the related federal case was dismissed and on appeal, a settlement for $15m proposed in the state case. Scott+Scott and co-counsel opposed the settlement and continued to litigate the state case, obtaining certification of a nationwide class of investors, and proceeding through fact discovery, including dozens of depositions. Ultimately leading to a court approved a final settlement of $107.5m.
- Represented Oklahoma Firefighters Pension and Retirement System, as the sole plaintiff in a securities class action against Newell Brands, Inc. and certain directors and officers in the Superior Court of Hudson County in the State of New Jersey, for violations of sections 11, 12(2)(a), and 15 of the Securities Act of 1933 in connection with the Registration Statement. The litigation ultimately led to a final settlement of $102.5m.