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Salomon Analysts AT&T

In re Salomon Analysts AT&T Litigation, No. 02-Civ-6801 (S.D.N.Y.)  In this securities class action, Pomerantz served as sole lead counsel representing lead plaintiff Louisiana School Employees’ Retirement System.  This case, based on an analyst’s issuance of false research reports regarding a single company, presented difficult loss causation issues.  Nonetheless, after defeating a motion to dismiss in substantial part (350 F. Supp. 2d 455) and engaging in extensive discovery, Pomerantz secured a settlement of $74.75 million for the class.