The securities litigation practice at Labaton Keller Sucharow LLP in New York has undergone many changes in the last year, as the mantle of leading the practice has been passed on a younger generation. Firm chair Christopher Keller and head of litigation Jonathan Gardner still oversee the practice, but the leadership role is now in the hands of highly respected litigators Carol Villegas and Michael Canty. Clients note that they are ‘very responsive to any questions that arise, and handle matters in a very professional manner’. Villegas, is currently leading a securities class action against PayPal Holdings, Inc., which alleges that the company touted strong growth to get new accounts but was fueling this growth by essentially paying people to sign up, and that ’bot farms’ were used to create fake accounts. Working with Eric Belfi, Villegas also secured a $73m recovery in a case against data analytics company Nielsen, which was alleged to have misrepresented the strength of its consumer purchasing measurement business, and the impact of European data privacy regulations. Canty’s recent track record includes working with Michael Rogers to secure a $125m settlement in a case against Alexion Pharmaceuticals, Inc. Up-and-coming partner James Christie also plays a key role in the practice. Thomas Dubbs and James Johnson recently retired from the firm.
Testimonials
Collated independently by Legal 500 research team.
‘I have worked very closely with members of this firm for the last six years. The are very responsive to any questions that arise, and handle matters in a very professional manner.’
'Jonathan Gardner is seasoned, strategic, and has high integrity and superb judgment.'
'Carol Villegas is one of the up and coming stars of this bar, highly knowledgeable and well-prepared, a tenacious advocate.'
'First-class team of trial lawyers with deep knowledge of the federal securities laws. Labaton is one of the most effective firms in the US in securities litigation.'
Key clients
- Wayne County Employees’ Retirement System
- Teacher Retirement System of Texas
- Border to Coast Pensions Partnership
- Rhode Island State Investment Commission
- West Virginia Investment Management Board
- Indiana Public Retirement System
- Utah Retirement Systems
- Public Employee Retirement System of Idaho
- Public Employees’ Retirement System of Mississippi
- Oklahoma Firefighters Pension & Retirement System
Work highlights
- Representing Steamfitters Local 449 Pension Plan, the firm achieved the historic $1B cash settlement just weeks before trial. The settlement ends the dispute arising from a $23.9 billion conversion of Class V stock in a controversial 2018 deal.
- Achieved a $90M settlement (preliminarily approved) serving as lead counsel representing lead plaintiffs the Carpenters Pension Trust Fund for Northern California and the Carpenters Annuity Trust Fund for Northern California, as well as class representative the City of Providence Employee Retirement System, in a securities class action against The Allstate Corporation, the company’s CEO Thomas J. Wilson, and its former President of Allstate Protection Lines Matthew E. Winter.
- Achieved a $125 million settlement (preliminarily approved) serving as co-lead counsel representing Public Employee Retirement System of Idaho (PERSI) in a securities fraud case against Alexion Pharmaceuticals, Inc. and certain of its executives. The suit alleges that Alexion, a pharmaceutical drug company that generated nearly all of its revenue from selling the Company’s flagship drug, Soliris, made materially false and misleading statements and omissions principally connected to Alexion’s sales practices in connection with the marketing of Soliris.
Lawyers
Practice head
The lawyer(s) leading their teams.
Christopher Keller, Jonathan Gardner