Partners
Ira M. Press
Ira M. Press is a partner in our New York office focusing on securities and consumer litigation. Mr. Press joined the firm in 1993, and currently leads the firm’s institutional investor monitoring program. In this capacity, he has provided advisory services to numerous government pension funds and other institutional investors. He has authored articles on securities law topics and has lectured to audiences of attorneys, experts and institutional investor fiduciaries.
Mr. Press’ advocacy has resulted in several landmark appellate decisions including, Rothman v. Gregor, the first ever appellate reversal of a lower court's dismissal of a securities class action suit pursuant to the 1995 Private Securities Litigation Reform Act, and more recently, earlier this year, Wiggins v. Janus Capital Group, the first ever reversal of such a dismissal in the 4th Circuit Court of Appeals.
Some of Mr. Press’ relevant experience includes:
■ Representation of a union pension fund as lead plaintiff in In re Moody’s Corporation Securities Litigation, a securities class action arising from Moody’s misrepresentation about and in the course of its rating of mortgage-related securities. Classwide losses are estimated to be in the billions;
■ Representation of the New York City Pension Funds as lead plaintiff in a class action against Wachovia Corporation arising from Wachovia’s alleged misrepresentations of their exposure to the subprime market. Classwide losses are estimated to be in the billions;
■ Representation of the lead plaintiff in In re Citigroup Inc Securities Litigation, a class action arising out of Citigroup’s alleged misrepresentations regarding their exposure to losses associated with numerous off-balance sheet Variable Interest Entities. Full disclosure caused over $200 billion in shareholder losses;
■ Representation of the NY State Common Retirement Fund as lead plaintiff in In re National City Corporation Securities, Derivative & ERISA Litigation, a securities class action arising from National City’s alleged misrepresentations regarding exposure to subprime mortgage related losses. During the class period, the company’s stock fell from approximately $37 to $6; and
■ Representation, as lead counsel, of investors in Goldman Sachs common stock in a securities class action case pertaining to Goldman’s alleged instruction to their research analysts to favor procurement of investment banking deals over accuracy in their research. Disclosure caused Goldman Sachs' stock to decline materially.
Mr. Press is admitted to the New York State Bar, the United States Courts of Appeals for the Second, Third, Fourth, and Eleventh Circuits, and the United States District Courts for the Eastern, Northern and Southern Districts of New York. He graduated from Yeshiva University magna cum laude (B.A., 1986) and from New York University Law School (J.D., 1989). Additionally, Mr. Press speaks Hebrew and Yiddish.
Prior to joining KM, Mr. Press practiced at Warshaw Burstein Cohen Schlesinger & Kuh, LLP, where he focused on commercial litigation. |
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