Pertinent Background And Experience
Litigating Securities and Investment Fraud, Consumer Protection, Antitrust, Derivative Actions, Healthcare Fraud, ERISA, and Employment Litigation Class Actions, as well as False Claim Act Litigation
SFMS concentrates its practice in the areas of complex class action and commercial litigation with a particular emphasis on litigating securities and investment fraud, consumer protection, antitrust, derivative actions, healthcare fraud, ERISA, and employment litigation class actions, as well as False Claim Act litigation. The Firm represents privately-held corporations, healthcare providers, institutional investors, including pension, health and welfare funds, and private individuals throughout the United States. The Firms’ lawyers are a diverse group who have years of experience in complex class action and commercial litigation.
The Firm and its attorneys have served as court-appointed lead counsel and class counsel in state and federal courts and, in such cases, have recovered hundreds of millions of dollars on behalf of their clients. In pursuing securities fraud and breach of fiduciary duty cases, at times, SFMS has recovered in excess of 70% of the losses suffered by the institutional investors it represents. SFMS also has been similarly successful in achieving significant corporate governance changes, including:
- mandating annually elected boards controlled by independent directors;
- separating the Chairman of the Board of Directors and Chief Executive Officer roles;
- requiring at least two-thirds of the Board of Directors to be truly independent;
- requiring immediate public disclosure of all sales or purchases of a company’s stock by any corporate officer or director;
- requiring the creation of appropriate Audit Committee, Compensation Committee and Corporate Governance Charters;
- requiring creation of an Audit Committee Complaint Procedure; and
- requiring the creation of a Code of Ethics for Senior Financial Officers
The Firm is actively involved in the litigation of individual and class action securities cases involving causes of action for securities fraud, breach of fiduciary duty, and shareholder derivative claims. The Firm has played a substantial role in a number of these cases, including, to name a few, the following cases:
- In re Adelphia Securities Litigation
- Reardon v. Ameripath, Inc. et al.
- Finnell v. Cambrex Corp.
- D’Andrea v. CIGNA Securities, Inc., et al.
- In re EMCOR Corp. Securities Litigation
- In re HealthSouth ERISA Litigation
- Smith v. Interstate Bakeries Corp.
- In re Matria HealthCare Securities Litigation
- In re McKesson HBOC, Inc. Securities Litigation
- In Re Mercator Software Derivative Litigation
- In Re Unisys Corporation Securities Litigation
In addition, when appropriate, SFMS represents select institutions and individuals in proceedings before the National Association of Securities Dealers and the New York Stock Exchange regarding securities fraud and related matters.