Chairman: Christopher J Keller
Number of partners: 34 Number of lawyers: 92
With more than 50 years of experience, Labaton Sucharow is a tenacious advocate for investors and consumers. The firm offers complex litigation services in the areas of securities, antitrust, consumer protection, corporate governance and shareholder rights law, as well as whistleblower representation. Labaton Sucharow represents many of the largest institutional investors worldwide and has secured billions of dollars in landmark recoveries. The firm’s successful reputation is built not only on its team of more than 90 attorneys, but also on its industry-leading in-house investigators, financial analysts and forensic accountants.
Main Areas of Practice:
Non-US Securities Litigation
Opt-Out & Direct Action Litigation
Antitrust & Competition Litigation
Financial Products & Services Litigation
Corporate Governance & Shareholder Rights
Mergers & Acquisitions Litigation
Appraisal Rights Litigation
Consumer Cybersecurity & Data Privacy
Securities & Financial Services Litigation:
The firm continues to secure precedent-setting decisions and significant monetary recoveries on behalf of investors. After achieving historic settlements from cases stemming from the financial crisis, the team has maintained its momentum in prosecuting high-profile and cutting-edge actions against corporate behemoths like PG&E, BP, Goldman Sachs and Allstate. The team also played an authoritative role in shaping securities litigation laws through a landmark victory in the Supreme Court with Amgen Inc. v. Connecticut Retirement Plans and Trust Fund. The firm also evaluates the viability of claims that may be pursued through opt-out or direct actions.
■ In re American International Group Securities Litigation - more than $1 billion total recovery and one of the top 15 securities class action recoveries
■ In re Countrywide Financial Corp. Securities Litigation - achieved a $624 million settlement
■ In re HealthSouth Corp. Securities Litigation recovered $671 million
■ In re Schering-Plough/Enhance Securities Litigation - secured a $473 million settlement ■ In re Massey Energy Co. Securities Litigation - obtained a $265 million recovery
Antitrust & Competition Litigation:
The firm has been appointed to leadership roles in cases involving collusion in the financial markets, manipulation of financial benchmarks and pharmaceutical-related anticompetitive ‘pay-fordelay’ agreements. The mission of the antitrust and competition litigation practice is to promote the private enforcement of antitrust laws to preserve free competition in the marketplace. The firm has recovered billions on behalf of clients in major antitrust class actions around the country.
■ In re: Air Cargo Shipping Services Antitrust Litigation - more than $1.2 billion in settlements from several international airlines
■ In re: Aftermarket Automotive Lighting Products Antitrust Litigation - aggregate settlement of more than $50 million with major manufacturer of automotive lights
Corporate Governance & Shareholder Rights Litigation:
As corporate leaders continue to engage in fraudulent conduct and other mechanisms to unjustly enrich themselves, the firm initiates numerous derivative and M&A-related suits to protect shareholders.
■ In re Freeport-McMoRan Copper & Gold Inc. Derivative Litigation – achieved the second largest derivative settlement in the Delaware Court of Chancery history, a combined $153.75 million recovery with an unprecedented provision of direct payments to stockholders by means of a special dividend
■ In re El Paso Corporation Shareholder Litigation – $110 million recovery for shareholders; a stipulation in the settlement also prevented Goldman Sachs from collecting a $20 million fee for its work on the merger, a condition pursued adamantly by the firm to encourage banks in future deals to take proper steps to reduce conflicts of interest
The firm established the first national practice focused exclusively on protecting and advocating for whistleblowers who report violations of the federal securities laws. The practice plays a critical role in exposing securities fraud and creating necessary corporate reforms.
■ Secured $83 million, the largest award granted under the SEC’s Whistleblower Program, for the whistleblowers who tipped the SEC off to long-running misconduct at Merrill Lynch
■ Represented the first officer of a public company to win an SEC whistleblower award, the first SEC whistleblower to receive criminal immunity, and the first SEC whistleblower to receive an award because his company retaliated against him
Non-US Securities Litigation:
The firm’s non-US securities litigation practice is dedicated to working with non-US counsel to analyze potential claims in all international jurisdictions in which it is possible to seek a recovery. The firm’s attorneys have almost three decades of experience advising institutional investor clients on the risks and benefits of pursuing claims in non-US forums. The firm serves or has served as liaison counsel for numerous clients in more than 30 non-US actions, several of which have achieved significant recoveries.