Thursday, May 30, 2013
Chairman Lawrence A. Sucharow Elected Vice Chair of International Financial Litigation Network
Law firms from 15 countries seek international solutions to financial problems
NEW YORK (May 30, 2013) – Labaton Sucharow LLP announced today that Chairman Lawrence A. Sucharow was elected Vice Chair of the International Financial Litigation Network, a recently launched group chaired by Javier Cremades of Cremades & Calvo Sotelo in Madrid, Spain. More than 20 law firms from around the world launched the Network to improve access to cross-border advice and remedies for clients with global investments and to increase confidence and transparency in capital markets worldwide.
The Network includes a broad spectrum of law firms representing both plaintiffs and defendants involved in complex, cross-border financial transactions and disputes--clients typically include individual and institutional investors, banks, hedge funds, insurers and associated asset managers. The Network is designed to help attorneys identify sophisticated and experienced counsel in other jurisdictions in which their clients may be faced with investment and transaction related legal disputes. It is expected that regular communication and collaboration will ensure ease of understanding and improve the quality of advocacy.
The Network's goals and resources complement the work of Labaton Sucharow's recently expanded International Litigation group, which works on behalf of investors affected by non-U.S. based financial fraud and misconduct. The group is led by Eric J. Belfi, a partner, and builds off the firm's industry-leading resources and experience in the analysis of similar matters in the U.S. arena.
As a result of the changing legal landscape worldwide, increased investor exposure to global securities, and impact of the seminal 2010 U.S. Supreme Court decision in Morrison v. National Australia Bank, investors trading securities outside the U.S. -- regardless of whether those securities are also traded in the U.S. -- have been forced to litigate in non-U.S. jurisdictions. As a result, there has been a notable increase in the number of major securities-related lawsuits being proposed, filed and resolved outside the U.S. In response to rising client interest and demand, Labaton Sucharow's International Litigation Practice has placed the Firm at the forefront of this growing trend.
"I am honored to be a part of this organization working closely with other highly skilled international law firms as Labaton Sucharow continues to solidify its commitment to protect investors both within and outside of the U.S.," stated Lawrence A. Sucharow.
Labaton Sucharow is proud to be one of the founding member law firms from the United States. Additional founding member law firms are located in: the United Kingdom, Spain, Austria, Columbia, Israel, Ireland, Finland, Luxembourg, Morocco, Pakistan, Turkey, India, Italy and Brazil.
Please visit the International Financial Litigation Network website for additional information.