Pomerantz LLP

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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.

In a significant victory for investors, Pomerantz, as sole lead counsel for the class, along with lead plaintiff Universities Superannuation Scheme Limited, has achieved a historic $2.95 billion partial settlement with Petroleo Brasileiro S.A.–Petrobras–and its related entity, Petrobras International Finance Company (“Pifco”), as well as certain of Petrobras’ former executives and directors. This is not only the largest securities class action settlement in a decade, but is the largest settlement ever in a class action involving a foreign issuer, the fifth-largest class action settlement ever achieved in the United States, and the largest settlement achieved by a foreign lead plaintiff. Based on the charges taken by Petrobras relating to the opt-out settlements to date, the class settlement also represents a significant premium over the settlement of the individual actions on a pro rata basis. Claims against Petrobras’ auditor, PricewaterhouseCoopers Auditores Independentes (“PWC Brazil”), are still pending. read more...  

JOIN
AN ACTION


To discuss any of these actions please contact:

Robert S. Willoughby

  888.476.6529
or   888.4POMLAW

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A WIN FOR INVESTORS IN BARCLAYS

Pomerantz is also sole Lead Counsel in In 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...


Partner, Marc I. Gross

Partner, 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...

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

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Volume 12, Issue 4 July/August 2015

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