On March 1, 2023, U.S. District Judge Andrew P. Gordon of the District of Nevada granted plaintiffs’ motion for class certification and appointed Pomerantz as Lead Counsel on behalf of the Lead Plaintiffs – John V. Ferris, JoAnn Ferris, Jeffrey Larsen – and the class in Ferris, et al. v. Wynn Resorts Ltd., et al., No. 2:18-cv-00479-APG-DJA (D. Nev.). This securities fraud class action arises from Wynn Resorts Limited’s concealment of a long-running pattern of alleged sexual misconduct by CEO and founder Stephen Wynn against female employees of the company. The alleged misconduct first came to light in January 2018 with the publication of a Wall Street Journal article detailing numerous…
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For its analysis of trends in securities litigation for 2023, The National Law Journal spoke with Pomerantz Managing Partner Jeremy A. Lieberman about litigation that might arise this year from the troubled commercial real estate market, Big Tech’s failure to protect customer data, and “greenwashing” and other ESG-related allegations, especially in international jurisdictions. “All over Europe, as regulators start to require concrete disclosures regarding environmental risk, you’re going to see cases about that,” Lieberman said. So far, in the United States, it will be more challenging to bring these types of litigation. “It’s a big leap,” to get to court and bring cases based on…
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Pomerantz’s next Corporate Governance Roundtable will be held in Rome, Italy on October 23, 2023. Speaking at the Firm’s first European roundtable will be the former British Prime Minister, the Right Honorable Sir Tony Blair. Pomerantz’s Roundtables gather institutional investors from around the world to share knowledge and engage with leading experts in the areas of corporate governance, ESG, regulatory policies, and other issues that affect the value of the funds they represent. With offices in New York, Chicago, Los Angeles, Paris, Tel Aviv – and most recently, London – Pomerantz is committed to serving its clients wherever they are based. Seating at Pomerantz’s 2023 Corporate Governance Roundtable is limited. To express interest in…
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Pomerantz LLP is investigating claims on behalf of investors of Orpea SA (OTCMKTS: ORPEF). The investigation concerns whether Orpea – a France-based operator of nursing homes, outpatient and rehabilitation clinics and assisted-living facilities – and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On January 24, 2022, French newspaper Le Monde published an article featuring extracts of a book entitled The Gravediggers, which detailed mistreatment of elderly residents at Orpea’s nursing homes. Specifically, the book included allegations that residents were not provided enough meals, that facilities lacked proper hygiene standards, and that…
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On February 3, 2023, U.S. Senior District Judge Marsha J. Pechman, of the Western District of Washington, appointed Pomerantz LLP as Lead Counsel on behalf of Martin Sohovich – the Lead Plaintiff, and the class, in Parekh v. Avalara, Inc., 22-cv-1580 (W.D. Wash.). This securities class action alleges that Avalara, Inc. misled investors regarding the true value of the Company before a shareholder vote to approve its acquisition by Vista Equity Partners Management, LLC for $93.50 per share. Avalara is a SaaS (software as a service) company that provides small and mid-sized businesses with cloud-based solutions for the calculation and management of sales tax and the automation of transaction tax compliance. Allegations against…
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On January 31, 2023, U.S. District Judge Deborah K. Chasanow, of the District of Maryland, appointed Pomerantz LLP as Lead Counsel on behalf of Dustin Fanucchi – the Lead Plaintiff, and the class, in Fagen v. Enviva Inc., 22-cv-2844 (D. Md.). This securities class action alleges that Enviva Inc. misled the market regarding its business model, financial performance, and prospects for growth. Enviva is the world’s largest producer of utility-grade wood pellets that are used as a substitute for coal in power generation by industrial customers. Significantly, Enviva touts itself as a “growth-oriented” environmental, social, and governance (“ESG”) company with a “platform to generate stable and growing cash flows.” Allegations…
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On January 19, 2023, U.S. District Judge Mark C. Scarsi, of the Central District of California, appointed Pomerantz LLP as Co-Lead Counsel on behalf of its client, William Baker, who serves as the Lead Plaintiff, and the class, in Baker v. Twitter, Inc., 22-cv-6525 (C.D. Cal.). This securities action alleges that Twitter, Inc. misled the market regarding security concerns about its the platform and the effectiveness of its cybersecurity defenses. Twitter operates a global social media platform. In March 2011, Twitter agreed to a settlement with the Federal Trade Commission regarding a complaint that the Company mishandled users’ private information and allowed too many employees to have access to the platform’s central controls. As…
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Jeremy Lieberman, Pomerantz’s Managing Partner, and Jennifer Pafiti, Partner and Head of Client Services, were named to Lawdragon’s list of the 500 Leading Lawyers in America for 2023. Lawdragon’s list “celebrates attorneys who shaped the legal industry in the past year and beyond.” Jeremy led the securities class action litigation against Brazil’s largest oil company, Petróleo Brasileiro S.A. – Petrobras, which arose from a decades long, multi-billion-dollar kickback and bribery scheme. In 2018, Pomerantz, as sole Lead Counsel, achieved a historic $3 billion settlement for the Class – the largest securities class action settlement in a decade, the largest settlement ever in a securities class action involving…
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Pomerantz is proud to announce that Partner Emma Gilmore has been shortlisted for Benchmark Litigation’s 2023 Plaintiff Litigator of the Year award. Benchmark’s annual awards recognize and honor “the country's most distinguished litigators and their firms for their exemplary work over the last twelve months.” In September 2022, Emma scored a major victory for investors by securing a settlement to end a securities litigation against Deutsche Bank AG., The complaint alleges that Deutsche Bank represented that it had robust anti-money-laundering and Know Your Customer policies, when, in reality, it either failed to properly monitor or gave exemptions to high-risk, high-wealth customers…
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Pomerantz is proud to be shortlisted for Plaintiff Firm of the Year by Benchmark Litigation. Benchmark’s annual awards honor “the country's most distinguished litigators and their firms for their exemplary work over the last twelve months.” In 2020, Pomerantz won Benchmark Litigation’s Plaintiff Firm of the Year award. Michael Rafalowich, Benchmark’s Managing Editor, cited the Firm’s historic $3 billion settlement with Petróleo Brasileiro S.A.–Petrobras and precedent-setting success in securities litigation against Perrigo Co. plc as key factors for bestowing this honor on Pomerantz. The Firm’s Petrobras litigation was also recognized as a Benchmark National Impact Case in 2019. In 2022, for the third year running, Benchmark…
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Pomerantz is proud to announce that attorney Omar Jafri has been promoted to Partner. A member of the Firm’s Securities Litigation Practice Group, who is based in its Chicago office, in just the last few years, Omar has appeared on behalf of investors in over two dozen securities cases, authored over 50 pleadings and briefs, taken and defended over two dozen depositions, and argued numerous substantive motions in the U.S. District Courts as well as multiple appeals in the U.S. Courts of Appeals. Over the last few years, Omar has played a key role in numerous cases where the Firm has achieved significant recoveries for defrauded shareholders as Lead, Co-Lead or Additional Counsel. Recently, Omar was an integral member of the Firm’s litigation team in a…
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Pomerantz is proud to announce that attorney Brian Calandra has been promoted to Partner. Brian is a member of the Firm’s Securities Litigation Practice and is based in the New York Office. Brian has extensive experience in securities, antitrust, complex commercial, and white-collar matters in federal and state courts nationwide. Before joining Pomerantz, Brian represented issuers and underwriters in securities class actions involving the financial, telecommunications, real estate, and pharmaceutical industries. He also represented financial institutions in antitrust class actions concerning foreign exchange; supra-national, sub-sovereign and agency bonds; bonds issued by the government of Mexico; and credit card fees. Since joining Pomerantz in 2019, Brian…
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