Securities: Litigation: Mainly Plaintiff (Nationwide)
What the team is known for: A highly respected plaintiff-side shop, considered a go-to for international and domestic clients bringing securities claims in the USA and other jurisdictions. Noted in particular for unparalleled expertise in shareholder litigation resulting from M&A. Continues to be prominent in class action and opt-out litigation, and has an impressive track record of negotiating record-breaking settlement deals.
Strengths: One peer describes the team as “dominant in Delaware” and refers to it as “the 800-pound gorilla” of the plaintiff Bar.
Sources commend the firm’s “very successful practice,” with one interviewee suggesting that “they have been one of the leading exporters of plaintiff securities work to the UK and Europe and they deserve credit for that.”
Work highlights: Acted for institutional investors in a securities class action alleging that RBS had misled investors in a 2008 rights offering with regard to the scale of its exposure to the collapsing subprime market and about the effects of its recent acquisition of ABN AMRO.
Provided counsel to plaintiffs bringing a suit against Vivendi in the French courts for financial misreporting that artificially inflated its share price, leading to a dramatic collapse in market value when this was revealed.
Jay Eisenhofer is recognized as a longstanding leader of the securities plaintiffs’ Bar, with one peer describing him as one of the “pioneers in this field.” He continues to take the lead for plaintiffs in high-value cases brought against major financial institutions such as RBS and Morgan Stanley.
Stuart Grant represents plaintiffs on top-drawer securities class actions, and is particularly recognized for his work on M&A litigation and cases with an international aspect. Peers commend him as a “terrific lawyer” who “can try cases and argue motions; he is the real deal.”
Chancery: Mainly Plaintiff (Delaware)
What the team is known for: A highly regarded plaintiffs’ firm that retains its leading reputation in the chancery space. Has an exemplary track record in recovering impressive sums on behalf of investors in M&A litigation and shareholder disputes. Also known for its expertise in corporate governance matters.
Strengths: Sources describe Grant & Eisenhofer as “the best” firm for plaintiff-side litigation in Delaware.
Work highlights: Acting on behalf of shareholders of Dell seeking an appraisal of the fair value of their shares in connection with the $24.6 billion LBO by Michael Dell and Silver Lake Management.
Representing investors in PetSmart in the largest appraisal case in Delaware Court of Chancery history, valued at nearly $1 billion.
The highly regarded Stuart Grant represents public and private institutional investors in matters relating to Delaware corporate law, securities and private equity. He is currently representing an institutional investor in a claim alleging that directors and officers of Facebook breached their fiduciary duty by allowing the reclassification of Facebook stock.
Litigation: Securities Mainly Plaintiff (New York)
What the team is known for: Renowned plaintiffs’ firm that is highly recommended for its experience in litigating complex securities disputes. Notable track record in securing high-profile results for clients in class action, opt-out and individual claims. Counts leading multinational institutional investors among its client roster and is frequently retained in litigation involving multiple jurisdictions.
Work highlights: Secured an unprecedented $1.36 billion settlement from Fortis on behalf of 160 different institutional investors, having alleged that it misled investors about its solvency and the level of risk incurred in its acquisition of ABN AMRO.
Served as lead counsel in a class action brought against Pfizer, involving claims that the company misled shareholders as to the cardiovascular dangers of the arthritis drugs Celebrex and Bextra. Secured a preliminary settlement of $486 million.
Jay Eisenhofer is highly regarded for his expert representation of plaintiffs in multibillion-dollar securities disputes. He draws praise for his “very successful practice,” which includes leading the recent suit against Fortis on behalf of multiple institutional investors.
Stuart Grant comes recommended as an “excellent lawyer” and has a longstanding reputation for his litigation of domestic and cross-border securities cases. His recent work includes acting for plaintiffs in a Commercial Court of Paris action against Vivendi.
From Chambers USA 2017