Securities Litigation/Corporate Governance
False financial statements, poor governance, insider trading... These are some of the hallmarks of corporate wrongdoing that cause investors to lose billions and leave many asking how they can protect themselves and their beneficiaries. Think Enron, WorldCom, Parmalat, Royal Dutch Shell and other well-known corporate scandals.
At SRKW, we represent clients in securities class actions and other forums of investor protection matters. In doing so, we have developed a record of obtaining excellent results for our clients, helping them recover billions of dollars and implement far-reaching corporate governance reforms. We have prosecuted some of the largest global securities fraud actions and obtained innovative results in the process. For example, we acted as co-lead counsel in the Converium/Scor action where we negotiated a $145 million recovery on behalf of a global class of investors. In an unprecedented move, the case was settled on two continents, in the Southern District of New York and the Amsterdam Court of Appeals. This was the first such trans-Atlantic resolution to a securities class action. In the Parmalat action (Europe’s Enron), we have obtained settlements thus far valued at $90 million, as well as “first of its kind” governance reforms. We take a conservative approach to evaluating and recommending cases, but an aggressive stance when our trial-tested team litigates to recover monies on a client’s behalf.
For some clients, particularly institutional investors, success isn’t measured solely by the amount of money recovered. In shareholder derivative suits, for example, the goal is to enforce the rights of the corporation when it has been harmed by the misconduct of its officers or directors. In these cases, we are prepared to aggressively seek appropriate changes in corporate governance, such as strengthening the independence of the board of directors, altering the responsibilities of the board’s key committees, and funding an independent oversight committee and independent compliance counsel.
(To read more about our securities cases and our corporate governance work, click here.)