G&E’s experience in the law regarding securities litigation, derivative litigation, and corporate governance matters is truly second to none. In both class action and opt-out cases, the Firm represents public and private institutional investors across the globe, attracting widespread recognition for protecting investors’ rights and recovering their damages. G&E regularly serves as lead counsel in securities class actions, and is one of the few law firms that has successfully taken securities actions through trial. In fact, G&E has secured some of the largest securities class action recoveries in U.S. history, including a $3.2 billion recovery from Tyco International and multi-hundred million dollar recoveries from companies such as Global Crossing ($448 million), Refco Inc. ($422 million total class recovery), Marsh & McLennan ($400 million), Delphi Corp. ($325 million), General Motors ($303 million), DaimlerChrysler ($300 million), Safety-Kleen Corporation ($276 million), Merck & Co. ($215 million), and Parmalat ($110 million). The Firm also has extensive experience representing institutional investors in opt-out litigation, and typically recovers for its clients multiples of the amounts they would have received in their respective class cases. Unlike many of its peers, G&E takes a quality-over-quantity approach, filing a limited number of cases and actively investing its resources to prosecute those cases for the benefit of its clients.
G&E was the first law firm in the country to argue the provisions of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) allowing an institutional investor to be appointed as lead plaintiff in a securities class action. The opinion in Gluck v. CellStar, which appointed the State of Wisconsin Investment Board as lead plaintiff and G&E as lead counsel, is considered a landmark on the standards applicable to lead plaintiff/lead counsel practice under the PSLRA. The case itself was immensely successful, resulting in a financial recovery of approximately 56% of the class’s actual losses—four times the historical average gross recovery for securities fraud litigation at the time.