Pomerantz LLP

 
 

Pomerantz is a recognized leader in shareholder litigation and has distinguished itself in its willingness, and ability, to hold accountable those who engage in fraud and other financial misconduct.

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uilding upon the groundbreaking work of Abraham Pomerantz, the Firm’s founding partner, the Firm has been at the cutting edge of securities litigation for over 80 years. Pomerantz is a zealous advocate for investors and has played a leading role in establishing many of the shareholder rights that are now taken for granted. These include the right to bring securities class actions and derivative actions, the right to a jury trial in derivative actions, and the existence of fiduciary duties owed by investment banks to their clients.

In addition to “making new law” for the benefit of shareholders, Pomerantz has an impressive track record of financial recoveries, having recovered over $1 billion for its clients.

Committed to advancing the interests of our clients, both foreign and domestic, irrespective of where they trade securities, Pomerantz is at the vanguard of litigation in the wake of the Supreme Court’s decision in Morrison v. Nat’l Australia Bank, 130 S. Ct. 2869 (2010). There, the High Court held that those who purchase securities on exchanges outside of U.S. borders cannot pursue fraud claims under U.S. federal securities laws. In response, Pomerantz has innovated use of the statutory and common laws of the various U.S. states to pursue such claims. We are currently advancing this approach on behalf of a multitude of foreign and domestic public and private pension funds, limited partnerships, and investment trusts in securities fraud actions against BP plc relating to the Deepwater Horizon oil spill in 2010.

Pomerantz is also pursuing a number of legislative solutions to the problems created by Morrison. We have communicated with the Securities and Exchange Commission (the “SEC”) and many members of Congress on the need to legislatively reverse it, and we have drafted and circulated proposed legislation to that effect. Pomerantz also met with representatives of the Israel Securities Authority (the “ISA”) to urge it to voice its opposition to Morrison. As a result, the ISA submitted an opinion letter to the SEC arguing that securities listed under Israel’s dual-listing regime, which allows U.S. listed companies to automatically list on the Tel Aviv Stock Exchange without any additional reporting requirements, should be excepted from Morrison’s reach.

Click here for a description of the Firm’s latest news and accomplishments or here for a description of the cases in which the Firm is currently involved.