Global Investor Recovery Proceedings

Pomerantz is at the vanguard of protecting investors in a globalized world. With offices in New York, Chicago, Los Angeles, London, Paris and Tel Aviv and a worldwide network of legal and funding experts, Pomerantz is prepared to serve its clients regardless of where they are situated and on what exchange they purchase shares.

The U.S. Supreme Court’s 2010 decision in Morrison v. National Australia Bank Ltd. barred foreign plaintiffs from pursuing recovery in U.S. federal courts for losses from transactions on foreign exchanges, even where a company dual-lists its stock or sells other securities in the U.S. Investors, including Pomerantz clients, were abruptly left unprotected, with no right of recovery under U.S. law and seemingly no viable recourse in U.S. courts when the exchange on which their damaged shares traded was outside the U.S.

With novel legal strategies, Pomerantz overcame many obstacles imposed by Morrison. The Firm secured the right of U.S. institutional investors to pursue English common law claims in U.S. courts (See BP p.l.c.) and persuaded American courts to exercise supplemental jurisdiction over purchases made on foreign exchanges (See Perrigo and Teva).

When the U.S. is not the most appropriate venue for particular claims, Pomerantz represents its clients in international jurisdictions by partnering with local law firms. Pomerantz attorneys analyze the claims in each potential litigation, navigating the intricacies of international law while liaising with the firm’s clients and foreign counsel.

Pomerantz represented institutional investor clients in an investor recovery proceeding in the Netherlands and South Africa against Steinhoff International Holdings. Negotiations with Steinhoff led to a $1.6 billion settlement for damaged investors. The Firm then successfully filed claims on its clients’ behalf in a process far more burdensome than comparable processes in the U.S. Pomerantz also secured a settlement of over € 1 million for a French institutional investor in litigation in the U.K. against retail giant, Tesco PLC, and secured confidential, favorable recoveries for clients in litigation in the Netherlands against Airbus SE.

The firm currently advises clients with respect to securities matters in the U.K., Australia, Brazil, Denmark, Germany, Italy, the Netherlands and Sweden, among other jurisdictions.