Thomas A. Dubbs concentrates his practice on the representation of institutional investors in domestic and multinational securities cases. Recognized as a leading securities class action attorney, Tom has received the highest ranking from Chambers & Partners—an honor he shares with only three other plaintiffs' securities lawyers in the United States.
Tom has served as lead or co-lead counsel in some of the most important federal securities class actions in recent years, including those against American International Group, Goldman Sachs, the Bear Stearns Companies, Facebook, Fannie Mae, Broadcom, and WellCare. Tom has also played an integral role in securing significant settlements in several high-profile cases including: In re American International Group, Inc. Securities Litigation (settlements totaling more than $1 billion); In re Bear Stearns Companies, Inc. Securities Litigation ($275 million settlement with Bear Stearns Companies, plus a $19.9 million settlement with Deloitte & Touche LLP, Bear Stearns' outside auditor); In re HealthSouth Securities Litigation ($671 million settlement); Eastwood Enterprises LLC v. Farha et al. (WellCare Securities Litigation) (over $200 million settlement); In re 2008 Fannie Mae Securities Litigation ($170 million settlement pending final court approval); In re Broadcom Corp. Securities Litigation ($160.5 million settlement with Broadcom, plus $13 million settlement with Ernst & Young LLP, Broadcom's outside auditor); In re St. Paul Travelers Securities Litigation ($144.5 million settlement); and In re Vesta Insurance Group, Inc. Securities Litigation ($79 million settlement).
Representing an affiliate of the Amalgamated Bank, the largest labor-owned bank in the United States, a team led by Tom successfully litigated a class action against Bristol-Myers Squibb, which resulted in a settlement of $185 million as well as major corporate governance reforms. He has argued before the United States Supreme Court and has argued 10 appeals dealing with securities or commodities issues before the United States Courts of Appeals.
Due to his well-known expertise in securities law, Tom frequently lectures to institutional investors and other groups such as the Government Finance Officers Association, the National Conference on Public Employee Retirement Systems and the Council of Institutional Investors. He is also a prolific author of articles related to his field. His publications include: "Shortsighted?," Investment Dealers' Digest, May 29, 2009; "A Scotch Verdict on 'Circularity' and Other Issues," 2009 Wis. L. Rev. 455 (2009); and "Textualism and Transnational Securities Law: A Reappraisal of Justice Scalia's Analysis in Morrison v. National Australia Bank," Southwestern Journal of International Law (2014). He has also written several columns in UK-wide publications regarding securities class action and corporate governance. He is the co-author of the following articles: "In Debt Crisis, An Arbitration Alternative," The National Law Journal, March 16, 2009; "The Impact of the LaPerriere Decision: Parent Companies Face Liability," Directors Monthly, February 1, 2009; "Auditor Liability in the Wake of the Subprime Meltdown," BNA's Accounting Policy & Practice Report, November 14, 2009; and "U.S. Focus: Time for Action," Legal Week, April 17, 2008.
Prior to joining Labaton Sucharow, Tom was Senior Vice President & Senior Litigation Counsel for Kidder, Peabody & Co. Incorporated where he represented the company in many class actions, including the First Executive and Orange County litigations and was first chair in many securities trials. Before joining Kidder, Tom was head of the litigation department at Hall, McNicol, Hamilton & Clark, where he was the principal partner representing Thomson McKinnon Securities Inc. in many matters including the Petro Lewis and Baldwin-United class actions.
In addition to his Chambers & Partners recognition, Tom was named a Leading Lawyer by The Legal 500, an honor presented to only eight U.S. plaintiffs' securities attorneys. Law360 also named him an "MVP of the Year" for distinction in class action litigation, and he has been recognized by The National Law Journal, Lawdragon 500 and Benchmark Litigation as a Securities Litigation Star. Tom has received a rating of AV Preeminent from the publishers of the Martindale-Hubbell directory.
He is a member of the New York State Bar Association, the Association of the Bar of the City of New York, and is a Patron of the American Society of International Law. He also is a member of the American Law Institute and was a member of the Members Consultative Group for the Principles of the Law of Aggregate Litigation and the Department of State Advisory Committee on Private International Law.