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Class Actions

Silver Law Group has handled class action lawsuits throughout the country. A class action lawsuit is an important tool which allows multiple plaintiffs to combine together, frequently against a large, well-capitalized corporate defendant. Securities class action lawsuits are filed when a group of investors known as a “class” suffer economic losses as the result of the same cause affecting the members of the class. Silver Law Group is also experienced pursuing claims against the investment banks and brokerage firms which act as the selling agent or underwriter of these securities. In 2011, Silver Law Group helped a class of investors recover $150 million against a large national brokerage firm. In recent Years, Wall Street firms have created their own alternative investments to sell to investors. These alternative investments include, private placements, principal protected notes, and managed futures funds. Investment losses in these proprietary investment products frequently lead to class actions and securities arbitration claims. According to a NERA Economic Consulting study, federal class action lawsuits during the period from January 2005 – June 2012 have been filed in the following type of case categories:

  • Merger Objection Cases;
  • Securities and Exchange Act Violations; including 10b(5);
  • Credit Crisis Related;
  • Ponzi Schemes;
  • Option Backdating;
  • Accounting Fraud; and
  • Other Causes.

According to a Cornerstone Research study, the federal class action lawsuits can be categorized according to S&P 500 sectors, the average percentage of companies subject to new class action filings during the period from January 2000 – June 2013:

  • Consumer Discretionary (5.5%)
  • Consumer Staples (4.0%)
  • Energy (2.5%)
  • Financials (11.1%)
  • Health Care (9.7%)
  • Industrials (3.4%)
  • Information Technology (6.9%)
  • Materials (1.2%)
  • Telecommunication Services (7.9%)
  • Utilities (7.2%)

 

Silver Law Group has extensive experience

Silver Law Group has extensive experience advising clients regarding their options about participating in a class action or opting out the class action and instead pursuing their individual claims as stand-alone plaintiffs against a variety of potentially liable defendants. There are advantages to both options, depending on the factual scenario in which they arise; and we carefully advise our clients regarding which path would best suit their legal interests.

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