Pomerantz LLP

POM_SITE_Home_PETRO_$3_BILLION.jpg

" ... THE LAWYERS IN THIS CASE [ARE] SOME OF THE BEST LAWYERS IN THE UNITED STATES, IF NOT IN THE WORLD."

Judge Jed S. Rakoff of the Southern District of New York, in Petrobras preliminary approval hearing, February 2018

“ . . . [T]HE COURT FINDS THAT CLASS COUNSEL'S PERFORMANCE WAS IN MANY RESPECTS EXCEPTIONAL, WITH THE RESULT THAT, AS NOTED, THE CLASS IS POISED TO ENJOY A SUBSTANTIALLY LARGER PER SHARE RECOVERY  [65%] THAN THE RECOVERY ENJOYED BY NUMEROUS LARGE AND SOPHISTICATED PLAINTIFFS WHO SEPARATELY SETTLED THEIR CLAIMS.”

Judge Jed S. Rakoff, in granting final approval to the Petrobras settlement, June 2018

POM_SITE_Home_Petro_BulletPoints_FromEPS_Jan_18_Comp_02 copy.jpg
  Co-Managing Partner Jeremy A. Lieberman, who leads the firm's  Petrobras  Litigation.

Co-Managing Partner Jeremy A. Lieberman, who leads the firm's Petrobras Litigation.

Pomerantz and Lead Plaintiff Universities Superannuation Scheme, Ltd. have reached a $50 million settlement with Petrobras’ auditors, PricewaterhouseCoopers Auditores Independentes (“PwC Brazil”). Added to the $2.95 billion settlement achieved in early January 2018,
Pomerantz’s recovery on behalf of Petrobras investors has now reached $3 billion.
 This represents the largest securities class action settlement in a decade, the largest settlement ever in a class action involving a foreign issuer, and the fifth-largest class action settlement ever achieved in the United States.
It is also the largest settlement ever achieved by a foreign lead plaintiff, and the largest class action settlement in history not involving a restatement of
financial reports. read more...  

JOIN
AN ACTION


To discuss any of these actions please contact:

Robert S. Willoughby

  +1.888.476.6529
or   +1.888.4POMLAW

NOTABLE CASES

POM_SITE_Home_Barclays_Header_02.jpg

A WIN FOR INVESTORS IN BARCLAYS

Pomerantz is also sole Lead Counsel in In re Strougo v. Barclays PLC, a class action alleging fraud in Barclays’ “dark pool,” a private trading venue where investors trade stocks almost anonymously. During the Class Period, Barclays’ dark pool catapulted into the financial stratosphere, with market share growth of 33% per year, as Barclay falsely promised investors that it would police the pool to “protect [clients] from predatory trading.” In fact, not only did Barclays allow aggressive traders into its dark pool, but it wooed them with perks that gave them a competitive edge over traditional traders. In November 2017, the Second Circuit affirmed the district court’s certification of a class of Barclays’ investors and, citing its own recent decision in Petrobras, held that direct evidence from plaintiffs of price impact is not necessary, at the class certification stage, to demonstrate market efficiency. The Second Circuit also held that defendants seeking to rebut the presumption of reliance must do so by a preponderance of the evidence, confirming that plaintiffs have no burden to show price impact at the class certification stage—a significant win for plaintiffs. read more...


  Senior Counsel, Marc I. Gross

Senior Counsel, Marc I. Gross

POMERANTZ
AT THE VANGUARD
OF LITIGATION AGAINST BP

Additional Successes in the Landmark BP Litigation In October 2014, Pomerantz once again secured crucial victories in its ground-breaking litigation over BP plc's ("BP") 2010 Gulf of Mexico oil spill. This time, Pomerantz established the right of individual foreign investors who purchased foreign-traded shares of a foreign corporation to pursue claims for securities fraud in a U.S. court, thereby overcoming obstacles created by the U.S. Supreme Court’s 2010  read more

1429901021535.jpeg

A cutting-edge legal theory for investors who purchase securities on foreign exchange

Legal_500_2016-2017.jpg

Volume 15, Issue 3 May/June 2018

 

LEADERSHIP, INTEGRITY, AND RESULTS
Pomerantz is the oldest securities class action firm representing plaintiffs and one of the most respected law firms in the United States. Along with some of the most skillful securities fraud litigators in the U.S., our client-specific focus, commitment to integrity and innovative legal strategies have led many of the largest domestic and foreign institutional investors to rely upon our advice, counsel and litigation skills.