Pomerantz LLP

Securities Litigation

Partner

Joshua B. Silverman is a partner in the Firm’s Chicago office. He specializes in individual and class action securities litigation. Josh was Lead Counsel in In re Groupon, Inc. Securities Litigation, achieving a $45 million settlement, one of the highest percentage recoveries in the Seventh Circuit. He was also Lead or Co-Lead Counsel in In re MannKind Corp. Securities Litigation ($23 million settlement);  In re AVEO Pharmaceuticals, Inc. Securities Litigation ($18 million settlement, more than four times larger than the SEC’s fair fund recovery in parallel litigation); New Mexico State Investment Council v. Countrywide Financial Corp. (very favorable confidential settlement); New Mexico State Investment Council v. Cheslock Bakker & Associates (summary judgment award in excess of $30 million); Sudunagunta v. NantKwest, Inc. ($12 million settlement); Bruce v. Suntech Power Holdings Corp. ($5 million settlement); In re AgFeed, Inc. Securities Litigation ($7 million settlement); and In re Hemispherx BioPharma Securities Litigation ($2.75 million settlement). Josh also played a key role in the Firm's representation of investors before the United States Supreme Court in StoneRidge, and prosecuted many of the Firm's other class cases, including In re Sealed Air Corp. Securities Litigation ($20 million settlement).

Josh, together with Managing Partner Jeremy Lieberman, recently achieved a critical victory for investors in the securities fraud class action against Perrigo Co. plc when Judge Arleo of the United States District Court for the District of New Jersey certified classes of investors that purchased Perrigo securities on both the New York Stock Exchange and the Tel Aviv Stock Exchange. Pomerantz represents a number of institutional investors that purchased Perrigo securities on both exchanges after an offer by Mylan N.V. to tender Perrigo shares. This is the first time since Morrison that a U.S. court has independently analyzed the market of a security traded on a non-U.S. exchange, and found that it met the standards of market efficiency necessary allow for class certification.

Several of Josh’s cases have set important precedent. For example, In re MannKind established that investors may support complaints with expert information. New Mexico v. Countrywide recognized that investors may show Section 11 damages for asset-backed securities even if there has been no interruption in payment or threat of default. More recently, NantKwest was the first Section 11 case in the nation to recognize statistical proof of traceability.

In addition to prosecuting cases, Josh regularly speaks at investor conferences and continuing legal education programs.

Before joining Pomerantz, Josh practiced at McGuireWoods LLP and its Chicago predecessor, Ross & Hardies, where he represented one of the largest independent futures commission merchants in commodities fraud and civil RICO cases. He also spent two years as a securities trader, and continues to actively trade stocks, futures, and options for his own account.

Josh is admitted to practice in Illinois; the United States District Court for the Northern District of Illinois, the United States Courts of Appeals for the First, Second, Third, Seventh, Eighth and Ninth Circuits, and the United States Supreme Court.

University of Michigan