Newtown, PA
Securities and investment fraud Lawyer at Newtown, PA
Practice Areas: Securities & Investment Fraud, Class Action ... +2 more
OUTCOME: Class Certification Granted
The Court found that the Plaintiffs presented the evidence necessary to meet their obligations under Federal Rule of Civil Procedure 23. Accordingly, the Court granted the Plaintiffs' motion for class ... certification.
OUTCOME: Denial of motion for judgment on the pleadings affirmed and remanded to the district court
The Second Circuit affirmed the district court's order denying the Bank's motion for judgment on the pleadings. The court held that state legislatures may create legally protected interests whose viola ... tion supports Article III standing, subject to certain federal limitations. The court also decided that the New York law violations alleged here constitute a concrete and particularized harm to plaintiffs in the form of both reputational injury and limitations in borrowing capacity over the nearly ten-month period during which their mortgage discharge was unlawfully not recorded and in which the Bank allowed the public record to reflect, falsely, that plaintiffs had an outstanding debt of over $50,000. The court further concluded that the Bank's failure to record plaintiffs' mortgage discharge created a material risk of concrete and particularized harm to plaintiffs by providing a basis for an unfavorable credit rating and reduced borrowing capacity. The court explained that these risks and interests, in addition to that of clouded title, which an ordinary mortgagor would have suffered (but plaintiffs did not), are similar to those protected by traditional actions at law. Therefore, plaintiffs have Article III standing and they may pursue their claims for the statutory penalties imposed by the New York Legislature, as well as other relief.
OUTCOME: Order dismissing case was vacated by Court of Appeals and remanded to District Court
Successfully appealed the dismissal of a proposed ERISA class action alleging that Georgetown University mismanaged its 403(b) retirement savings plan. Court of Appeals ruled that the plan's participan ... ts should have been given a chance to amend their complaint. Previously, the District Court dismissed the complaint without prejudice, and then it denied Plaintiffs' motion for leave to amend as untimely filed because, it asserted, the dismissal was a final appealable order. The Court of Appeals disagreed, holding that dismissal of a complaint without prejudice is generally not a final appealable order, and the District Court erred when it denied Plaintiffs leave to file their amended complaint.
OUTCOME: Vacated judgment and remanded the case.
Co-author of amicus brief to the U.S. Supreme Court, which argued successfully that the Court should not alter the standard to plead claims against fiduciaries of an employee stock ownership plan (ESOP ... ), alleging breach of the duty of prudence imposed by ERISA, based on the fiduciaries’ handling of inside information, based in whether public disclosure would cause more harm than good to the plan by causing a drop in the stock price and a concomitant drop in the value of the stock already held by the plan.
OUTCOME: Settled for $3.5 million
Participants in the Brown University Brown University 403(b) retirement plans negotiated a $3.5 million settlement to resolve class action claims under ERISA that fiduciaries of the 403(b) plans mishan ... dled the retirement savings of roughly 9,500 current and former workers. Participants in the $1 billion Brown University Deferred Vesting Retirement Plan and the $244 million Brown University Legacy Retirement Plan alleged that the sponsor of the plans, Brown University, allowed plan record-keepers to collect millions of dollars in fees, when they claimed a reasonable bill for those services would have totaled between $500,000 and $650,000.
OUTCOME: $4.9 million class action settlement
We represented approximately 1,440 workers for medical records company Optimum Healthcare IT LLC, who sued for violations of state and federal wage and hour laws alleging that the company improperly cl ... assified them as "independent contractors" and paid them a flat hourly rate instead of time and a half for overtime.
OUTCOME: $6.5 million settlement
We represented employees of the University of Chicago in a class action lawsuit alleging that the University breached its ERISA fiduciary duties of loyalty and prudence to retirement plan participants. ... The suit accused the University of paying excessive record-keeping fees and failing to monitor allegedly underperforming funds run by the financial services company Teachers Insurance and Annuity Association, commonly known as TIAA. In particular, the suit targeted two funds — the CREF Stock Account and the TIAA Real Estate Account.
OUTCOME: $89.5 million settlement
Berger & Montague, P.C. served as co-lead counsel in a securities fraud class action against OppenheimerFunds, alleging failure to adequately disclose risks of securities held by six tax-exempt bond mu ... tual funds.
OUTCOME: $16 million settlement
Secured a $16 million settlement in case alleging that defendant’s SEC filings concerning a planned merger misrepresented the bank’s purported conservative lending and underwriting policies, the qualit ... y of its loan portfolio, the sufficiency of loan loss reserves, and the need to raise additional capita
OUTCOME: Settled
Nationwide class action against health club alleging breach of contract and violation of state consumer protection laws, based on failure to timely cancel monthly gym memberships.
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