Robert M. Roseman
- Robert M. Roseman
- Philadelphia, Pennsylvania
- Partner
- phone (215) 496-0300
- fax (215) 496-6611
- email Email Me
Robert M. Roseman, partner, chairs the Firm's international and domestic securities practice group. Mr. Roseman focuses his practice on investor protection issues, including the enforcement of the federal securities laws and state laws involving fiduciary duties of directors and officers, and under the laws in the various jurisdictions in Europe where group actions can be brought. An important component of his practice involves protecting U.S. and European investors in European proceedings. In that role, he works with U.S. and European institutional investors on investor protection and corporate governance matters.
Most notable example of Mr. Roseman's role is Co-Lead Counsel is in the Converium/SCOR action, where he prosecuted the first US securities class action settled on two continents (for a collective $145 million). The European portion of this settlement is being adjudicated before the Court of Appeal in Amsterdam using the Dutch Act on the Collective Settlements of Mass Damage Claims. Importantly, Mr. Roseman's international expertise helped secure a key decision from the Dutch Court of Appeal in this case that will likely make it easier in the future for European investors to claim monies recovered from actions brought in the Netherlands.
Mr. Roseman represented European institutions and was co-lead counsel in the landmark In re Parmalat Securities Litigation action, the largest fraud in European corporate history that is frequently referred to as Europe's Enron, which settled for $96.5 million. There, Mr. Roseman devised a unique legal theory against the bankrupt Parmalat which used Italian bankruptcy law to secure funds not normally available to investors. He also extracted corporate governance endorsements from defendants other than the issuer - a first in a US-based investor action.
Among other notable cases, Mr. Roseman represented Brussels-based KBC Asset Management in In re Royal Dutch/Shell Securities Litigation and Brussels-based Fortis Investments in In re Chicago Bridge and Iron Securities Litigation. He currently represents a the Northern Ireland Local Government Officers' Superannuation Committee, a UK institution, that is one of the lead plaintiffs in the US investor action involving Lehman Brothers and is co-lead counsel In re Atheros Communications Shareholder Litigation, in which he obtained a preliminary injunction of a merger where inadequate information about the transaction had been disclosed to shareholders.
Mr. Roseman has been at the vanguard of using securities class actions and derivative suits to implement corporate governance changes at U.S. and European companies to help them operate more effectively and reduce the likelihood that wrongdoing will occur in the future. He litigated against the directors of Archer Daniels Midland Company in which the corporation agreed to implement state of the art corporate governance measures designed to strengthen the independence of the board of directors.Mr. Roseman also litigated against the directors of Abbott Laboratories and settled the case for numerous corporate governance changes governing the way in which the board of directors addresses regulatory matters. The Seventh Circuit's landmark decision in this case was named second among the top ten securities law decisions of 2003 by the American Bar Association's Securities Litigation Journal.
Mr. Roseman has written extensively on securities and investor protection issues, including Global Markets, Global Fraud: What We Can Learn from Europe's Enron', Investment and Pensions Europe (May 2006 supp.); Cost-Effective Monitoring of Corporate Fraud: Reducing the Time Necessary to Stay Informed, Investment and Pensions Europe (June 2006 supp.); and A Trans-Atlantic Trend, Professional Investor (May 2005).He also appeared in a roundtable discussion in Global Pensions (October 2006 supp.).
Mr. Roseman has been a frequent speaker at numerous U.S. and international conferences on the issues of investor protection through litigation and engagement and the importance of using corporate governance measures as part of settlements to ensure that Board of Directors act in the best interest of the Company and its shareholders. In addition to speaking at numerous conferences in the U.S., Mr. Roseman appeared as an invited speaker at institutional investor conferences held in London, Paris, Munich, Milan, Barcelona, Brussels, Paris, Frankfurt and Dublin and the Annual Conference of the International Corporate Governance Network in Amsterdam in 2004 and Paris in 2011.
Mr. Roseman obtained his J.D. in 1982 from Temple University School of Law and earned his B.S. cum laude in political science from the State University of New York in 1978. He is admitted to practice in Pennsylvania and New York, as well as the United States District Courts for the Eastern District of Pennsylvania and Central District of Illinois, the U.S. Courts of Appeals for the Third and Seventh Circuits; and United States Supreme Court. He is a member of the Philadelphia, Pennsylvania, New York State and Federal Bar Associations.
- Areas of Practice:
- Shareholder Litigation
- Antitrust Litigation
- Bar Admissions:
- Pennsylvania, 1983
- New York, 1989
- U.S. Supreme Court
- U.S. Court of Appeals 3rd Circuit, 1983
- U.S. Court of Appeals 7th Circuit
- U.S. District Court Eastern District of Pennsylvania, 1983
- U.S. District Court Central District of Illinois
- U.S. Federal Courts, 1983
- Education:
- Temple University School of Law, Philadelphia, Pennsylvania, 1982
J.D. - State University of New York, Brockport, New York, 1978
B.S.
Honors: Cum Laude
Major: Political Science
- Classes/Seminars Taught:
- Lectured Extensively Throughout Europe on the Role of Private Litigation in Enforcing U.S. Securities Laws
- Professional Associations and Memberships:
- Philadelphia Bar Association
Member - Pennsylvania Bar Association, 1983 – Present
Member, Civil Judicial Procedures Committee - New York State Bar Association
- American Bar Association
Member - Council of Institutional Investors
- International Corporate Governance Network