» Securities LitigationGrant & Eisenhofer has built a national and international reputation as a leader in securities litigation. In both class action and “opt out” cases, the Firm has attracted widespread recognition for protecting investors’ rights and recovering damages for investors. The Firm has been lead counsel in many of the largest securities class action recoveries in U.S. history, including a $3.2 billion recovery against Tyco International, and multi-hundred million dollar recoveries against companies such as General Motors, Daimler Chrysler, and Royal Dutch Shell. Over the last six years, G&E has repeatedly been named one of the nation’s “Top Ten Plaintiff’s Firms” by the National Law Journal. In 2007 and 2008, RiskMetrics Group cited G&E for winning the highest average investor recovery in securities class actions of any law firm in the U.S.
Grant & Eisenhofer regularly serves as lead counsel in national securities class actions, working closely with public and private institutional investors across the globe as lead plaintiffs. G&E was the first law firm in the country to argue the provisions of the Private Securities Litigation Reform Act (“PSLRA”) allowing an institutional investor to be appointed as lead plaintiff in a securities class action. The opinion, Gluck, et al. v. Cellstar, which appointed the State of Wisconsin Investment Board as lead plaintiff and G&E as lead counsel, is considered the landmark on the standards applicable to lead plaintiff/lead counsel practice under the PSLRA. The case itself was extremely successful, resulting in a class recovery of approximately 56% of the class’ actual losses, which was, at the time, four times the historical average gross recovery for securities fraud litigation.
Since that time, the Firm representing institutional investors in over one hundred cases and has recovered over $12.5 billion for shareholders in the last five years alone.