Kohn, Swift & Graf’s securities lawyers represent institutional and individual investors in national securities class actions and other securities litigation. Our seasoned securities lawyers include several former SEC (Securities and Exchange Commission) enforcement attorneys.
The firm has acquired lead counsel appointments and executive committee membership in numerous securities cases. Examples of major securities actions in which the firm has participated include:
• In re IndyMac Mortgage-Backed Securities Litigation (S.D.N.Y.)
• In re Bear Stearns Mortgage Pass-Through Certificates Litigation (S.D.N.Y.)
• In re Marvell Technology Group, Ltd. Securities Litigation (N.D. Cal.)
• In re Bear Stearns Litigation (Supreme, N.Y. County)
• In re Calpine Corporation Securities Litigation (N.D. Cal.)
• Police and Fire Retirement System of the City of Detroit Goldman, Sachs & Co., et al. (S.D.N.Y.)
• Greene v. New York Mercantile Exchange, Inc. et al. ( Ch.)
• In re KLA-Tencor Corporation Securities Litigation (N.D. Cal.)
• Trustees of the Police and Fire Retirement System of the City of Detroit Clapp, et al. (S.D.N.Y.)
Federal Securities Laws
Federal securities laws exert principal control over the buying and selling of securities. After the stock market crash of 1929, Congress enacted securities laws to ensure fair dealing and outlaw deceptive and inequitable practices by buyers and sellers of securities. The laws replace the philosophy of caveat emptor (let the buyer beware) with a policy of full and accurate disclosure.
Violators of certain security law provisions may be liable for damages caused by their violations. Major federal securities laws include the Securities Act of 1933 and the Securities Exchange Act of 1934. The Private Securities Litigation Reform Act (PSLRA) of 1995 also has a significant effect on securities class actions.
Securities Act of 1933
The Securities Act of 1933 was the first major federal law related to the issuing of new public securities. Congress enacted the 1933 Act to:
• enable investors to make more informed decisions about securities transactions by increasing the transparency of financial information significant to public sales of new securities
• prohibit misrepresentations of material facts, omissions of material facts, and other deceptive or manipulative conduct in connection with the issuance of public securities
Securities Exchange Act of 1934
The Securities Exchange Act of 1934 created the Securities and Exchange Commission (SEC), the primary enforcement agency of federal securities laws. The 1934 Act contains rules governing national security exchanges and broker-dealer regulations and registration. In contrast to the Securities Act of 1933, which controls issuances of new public securities, the 1934 Act controls secondary security sales and purchases.
Private Securities Litigation Reform Act (PSLRA) of 1995
The Private Securities Litigation Reform Act (PSLRA) was designed to encourage institutional investors to be active in securities class action litigation. Under the PSLRA, the court appoints, as lead plaintiff in a securities class action, the class member most capable of representing the class’s interests.
Kohn, Swift & Graf Securities Litigation Services
Services provided by our securities litigation attorneys include representation of plaintiffs in:
• Securities Fraud Lawsuits
• Shareholder Derivative Lawsuits
• Merger / Acquisition Lawsuits
• Mortgage-Backed Securities (MBS) Lawsuits
Kohn, Swift & Graf also provides Portfolio Monitoring services to institutional investors.
Inaccurate and misleading information about a corporation can cause investors to purchase the corporation’s securities at artificially high prices. Securities fraud actions enable investors who have relied on such information to recover losses caused by the decline in security value that results from discovery and public disclosure of the fraud. Learn more >>
A shareholder derivative action is a lawsuit filed by individual or institutional shareholders on behalf of a corporation and against corporate management, when officers and directors are breaching their fiduciary duties and are harming the corporation. Shareholder derivative suits are necessary to circumvent the conflict that arises when the officers and directors who would ordinarily file a suit on behalf of a corporation are among those who are damaging it. Learn more >>
Shareholders who suspect wrongdoing by corporate managers in merger or acquisition transactions may file a shareholder merger or acquisition lawsuit against the company’s directors. Plaintiffs usually commence these suits as shareholder class actions, but they may also institute them as individual shareholder suits. Learn more >>
Investors who have suffered losses in MBS may be able to recover damages if they relied upon misrepresentations when purchasing MBS. Learn more >>
Institutional investors need to be alerted to potential securities claims arising from portfolio losses caused by fraud or other corporate misconduct. They also need to be aware of instituted securities class actions related to investments in their portfolios. Kohn, Swift & Graf’s institutional investor portfolio monitoring service fulfills these important requirements for our securities clients. Learn more >>
Contact a Kohn, Swift, & Graf Securities Lawyer
If you believe you have been a victim of false and misleading statements issued by a company and / or its management, or if you wish to inquire about becoming a lead plaintiff in a securities class action, please contact our securities lawyers for assistance.