FOR IMMEDIATE RELEASE: October 03, 2011
Firm Named to The National Law Journal's Plaintiffs' Hot List for the Sixth Consecutive Year
NEW YORK (October 03, 2011) — For the sixth consecutive year, Labaton Sucharow has once again been selected as a top plaintiffs' firm by The National Law Journal, and was only one of three firms selected to be profiled in a feature article. Through reviewing and analyzing representative cases, verdicts and settlements over the past year, The National Law Journal recognizes firms that have done exemplary, cutting-edge work on the plaintiffs' side.
In this year's issue, the editors profiled the NYSE Euronext Shareholder Litigation and Partners Christine S. Azar and Michael W. Stocker, who filed a class action in Delaware against NYSE Euronext, its board members and Deutsche Borse after the news of a merger announcement in which shareholders "would be saddled with undervalued stock and would lack a majority stake in the newly formed company." Labaton Sucharow, serving as co-lead counsel, secured a settlement "in which shareholders would receive a special dividend of 2 euros per share, equivalent to $900 million, one of the largest such settlements to date."
According to The National Law Journal, the case was hardly the only high-profile litigation Labaton Sucharow has handled in recent years." The editors highlighted the following achievements:
- As lead counsel, a $100 million settlement in related class actions brought by investors in two mutual funds operated by OppenheimerFunds, Inc.;
- As co-lead counsel, a $150.5 million settlement against Satyam Computer Services Ltd.; and
- As co-lead counsel, more than $451 million in partial settlements on behalf of plaintiffs who purchased air freight shipping services in the Air Cargo Shipping Services Antitrust Litigation.
The National Law Journal also noted that the Firm is currently in litigation "against some of the biggest players in the financial crisis including the Goldman Sachs Group Inc., The Bear Stearns Cos., Morgan Stanley and the Federal National Mortgage Association, best known as Fannie Mae."
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Jennifer S. Bankston