Grant & Eisenhofer served as co-lead counsel and recovered $300 million for investors in Oxford Health securities fraud litigation
Plaintiff(s):
Public pension fund serving as co-lead plaintiff on behalf of investors
Case type / claims:
Consolidated securities class action alleging Oxford Health and its auditors misrepresented the company’s financial condition and internal controls, causing artificial inflation of stock prices and investor losses.
Defendant(s):
Oxford Health Plans, Inc., its officers and directors and KPMG LLP
Jurisdiction:
U.S. District Court for the Southern District of New York
Year:
2003
Outcome:
- Settled for $300 million after jury selection began, including $75 million from KPMG, one of the largest settlements ever by an accounting firm.
