Shaping the Law, Making the News
Pomerantz LLP, as sole Lead Counsel, recently achieved a $12 million settlement in a securities class action against PureCycle Technologies, Inc., The United States District Court for the Middle District of Florida granted final approval of the settlement on October 8, 2024.
Pomerantz is proud to announce a significant legal victory in our pro bono representation of Mainchance, a vital drop-in center for the homeless in New York City. Continuing our firm’s commitment to advocating for those in need, Pomerantz is happy to have helped ensure that this essential community service remains available.
Pomerantz LLP recently secured final approval of a $7.5 million settlement in a shareholder action against Los Angeles-based electric vehicle company Faraday Future Intelligent Electric Inc. The suit alleged that Faraday misled investors regarding its electric vehicle reservations and financial outlook prior to going public via a special-purpose acquisition company (SPAC) merger.
Pomerantz recently obtained a $2.9 million settlement in an investor action against the cannabis company iAnthus Capital Holdings Inc. The amount represents a reported 16.6% of estimated recoverable damages, well above the 1.8% median recovery for securities class actions.
Pomerantz is pleased to announce that Partner Murielle Steven Walsh has been recognized as a 2024 Titan of the Plaintiffs Bar by Law360, capping off a year in which Murielle notched significant victories on behalf of investors in several major securities class action litigations.
Pomerantz recently achieved a $47 million settlement on behalf of defrauded investors in a securities litigation against the American biotechnology company Novavax. The suit revolves around allegedly misleading statements made regarding the development and imminent approval of the company’s Covid-19 vaccine candidate.
Pomerantz was named Co-Lead Counsel in a shareholder suit against Bausch Health Companies, Inc. The suit alleges that Bausch misled investors about the company’s financial standing when Bausch planned to spin off its subsidiary Bausch + Lomb Corporation (B+L), an eye health company.
Last week, Pomerantz moved the court to approve a $97 million settlement in a securities fraud class action against the pharmaceutical company Perrigo Co. plc. The proposed settlement follows a multi-year litigation that included 40 depositions and the review of over half a million documents. Managing Partner Jeremy Lieberman expressed his satisfaction at the result: “We are very proud of our team’s hard-fought accomplishment in bringing this case to a successful resolution after nearly eight years of litigation through a ruling on summary judgment.”
Pomerantz has been named co-lead counsel in a securities class action against Canopy Growth Corporation concerning alleged material misstatements and omissions related to the company’s financial performance and internal controls.
Pomerantz is proud to announce that Partner Emma Gilmore has been named the 2024 Plaintiff Litigator of the Year by Benchmark Litigation. “I am honored to receive the Plaintiff Litigator of the Year award from Benchmark Litigation,” said Emma. “I also wish to congratulate my fellow nominees who represented a diverse and talented group of litigators.” The award was announced on March 13th at an event in New York City.
Pomerantz was recently named Co-Lead Counsel in a shareholder suit against PacWest Bancorp. The suit alleges that PacWest misled investors about the company’s financial situation and the effect that increases in interest rates would have on its liquidity.
Pomerantz recently achieved a $3 million settlement with the agricultural biotechnology company 22nd Century Group, Inc. The investor suit alleged, among other things, that the company concealed an SEC investigation into its accounting controls.
Pomerantz was recently appointed co-lead counsel in a securities class action against the pharmaceutical company Apellis. The suit alleges that the company misled investors about the safety of one of its treatments for an eye condition that can lead to blindness.
Pomerantz recently resolved a shareholder litigation against Teva Pharmaceuticals Ltd., in which Pomerantz represented 22 Israeli institutional investors who had opted out of a previous securities class action. The case concerned an alleged price-fixing scheme as well as Teva’s role in the devastating U.S. opioid crisis.
On January 4, United States Magistrate Judge James R. Cho of the United States District Court for the Eastern District of New York named Pomerantz Lead Counsel in a securities class action against Uruguayan fintech company DLocal. The case alleges that DLocal made misleading statements about its compliance with Argentine financial regulations.
Pomerantz continues to rack up accolades, with several attorneys featuring prominently in the 2024 edition of the Benchmark Litigation guide.
Pomerantz was recently appointed Lead Counsel in a securities class action against medical and commercial manufacturing conglomerate Danaher Corporation. The suit alleges that Danaher misled investors about the company’s financial prospects following the growth it experienced during the COVID-19 pandemic.
In a major victory for Pomerantz and shareholders alike, earlier this month the Honorable Steven P. Logan, U.S. District Judge for the District of Arizona, denied in large part the defendants’ motion to dismiss in a securities class action against the electric vehicle manufacturer Nikola. The case alleges that the company misled investors about key aspects of its business operations, leading to a nearly 76% drop in share price when the truth was revealed.
Pomerantz has been named Lead Counsel in a securities class action against the pharmaceutical company ImmunityBio. The suit alleges that ImmunityBio failed to disclose serious deficiencies in its manufacturing processes which ultimately led the FDA to reject its application for approval of its premier drug candidate.
Pomerantz recently overcame defendants’ motion to dismiss its securities class action suit against the well-known food storage company Tupperware. The case concerns alleged misstatements about the company’s actions to combat rising costs and dwindling profit margins.
Last week, Judge Jacqueline Scott Corley of the United States District Court for the Northern District of California named Pomerantz as sole lead counsel in a securities class action against Hawaiian Electric Industries Inc. The case concerns the utility company’s conduct leading up to the deadly fires that broke out in Maui earlier this year.
The United States District Court for the Eastern District of New York has named Pomerantz Co-Lead Counsel in a securities class action against Peloton Interactive, Inc. The case involves alleged misstatements and omissions from Peloton regarding the safety of its products.
Pomerantz is proud to announce that Partner Emma Gilmore has been recognized as an MVP in Securities Litigation by Law360, an honor awarded to a select few attorneys who have “distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals."
On Friday, June 16th, U.S. District Judge Kelley Hodge of the U.S. District Court for the Eastern District of Pennsylvania named Pomerantz LLP as Lead Counsel on behalf of the plaintiffs in In re Rite Aid Corporation Sec. Lit. no. 2:22-cv-04201. The case alleges that Rite Aid misled investors about the growth of its Elixir pharmacy benefit management program. With over 2,000 stores, Rite Aid is one of America’s largest pharmacies. In 2015, in order to compete with companies like Walgreens and CVS, Rite Aid purchased a pharmacy benefit management company called EnvisionRx, which they rebranded Elixir. Rite Aid leadership was positive about Elixir’s prospects.
On Friday, June 9th, U.S. District Judge Richard Seeborg of the U.S. District Court for the Northern District of California named Pomerantz LLP as Lead Counsel on behalf of the plaintiffs in AMI — Government Employees Provident Fund Management Co. Ltd. v. Alphabet Inc. et al., No. 3:23-cv-01186. Pomerantz’s client Menora Mivtachim Insurance Ltd. and its subsidiaries Menora Mivtachim Pensions and Gemel Ltd. will serve as Lead Plaintiffs. The suit alleges that Google and its parent company Alphabet misled investors about the nature of its anticompetitive business practices and the potential of those practices to elicit regulatory scrutiny.
On May 2, 2023, Chief U.S. District Court Judge Mark R. Hornak of the Western District of Pennsylvania granted preliminary approval to a $74 million settlement on behalf of defrauded investors in Howard v. Arconic et al., No. 2:17-cv-01057 (W.D. Pa.), a securities class action in which Pomerantz is Co-Lead Counsel. Arconic, Inc. is an American industrial company specializing in lightweight metals engineering and manufacturing. Allegations against Arconic include that, despite having knowledge that its Reynobond PE aluminum insulation panels were combustible and therefore inappropriate for use in the construction of high-rise structures, the company continued selling the panels for this purpose, while publicly downplaying the associated…
The National Law Journal has named Pomerantz LLP as a finalist in both the Class Action and Securities Litigation/Shareholders Rights categories of its 2023 Elite Trial Lawyers Awards. Partner J. Alexander Hood II (Alex) was honored as a winner of the Rising Stars of the Plaintiffs Bar award. Winners in all categories will be announced at the Elite Trial Lawyers award ceremony in New York City on July 13, 2023. Alex, based in the Firm’s New York office, was recognized as an up-and-comer in the plaintiffs bar, already demonstrating his litigation prowess, service to the community, and impact on the Firm…
Pomerantz is proud to announce that Partner Gustavo F. Bruckner has been selected to join Law360’s newly formed 2023 Delaware Editorial Advisory Board. The board will provide Law360 with feedback on its coverage and offer expert insight on how best to shape future coverage. As a recognized leader in corporate governance and the head of Pomerantz’s Corporate Governance Litigation group, Gustavo is uniquely familiar with Delaware law regarding shareholder-related litigation. And, as a fierce advocate for shareholder rights, Gustavo has set precedent and made new law with the derivative litigation he has brought in Delaware. In Strougo v. Hollander, Gustavo obtained a landmark ruling in Delaware by successfully arguing that bylaws…
Pomerantz is proud to announce that Partner Emma Gilmore has been named to the National Law Journal’s 2023 list of Plaintiffs’ Attorneys Trailblazers, which honors attorneys who have had a significant impact in their practice area, serving as “agents of change.” Emma successfully took on financial behemoth Deutsche Bank AG in a securities class action alleging that the Bank habitually exempted its high-net worth clients, including former financier and convicted sex offender Jeffrey Epstein, as well as Russian oligarchs reportedly engaged in criminal activities, from any meaningful due diligence. For example, Deutsche Bank continued “business as usual” with Epstein even after learning that 40 underage girls had come forward…
On April 4, 2023, U.S. District Judge Jesse M. Furman, of the Southern District of New York, appointed Pomerantz LLP as Lead Counsel on behalf of Omar Miramontes – the Lead Plaintiff, and the class, in In re Y-mAbs Therapeutics, Inc. Sec. Lig., 23-cv-431 (S.D.N.Y.). This securities class action alleges that Y-mAbs Therapeutics, Inc. misled investors regarding the efficacy of Omburtamab and the regulatory and commercial prospects of the drug. Y-mAbs is a clinical-stage biopharmaceutical company that develops antibody-based therapeutics and medicines for the treatment of cancer. Omburtamab is the Company’s lead product candidate for the treatment of neuroblastoma in the central nervous system or leptomeninges…