Securities

• 10 Kirby McInerney Attorneys recognized on 2022 Super Lawyers and Rising Stars Lists

  10/07/2022

  Thomson Reuters’ Super Lawyers has recognized five KM attorneys as New York Metro Super Lawyers and five as Rising Stars.

• Chief Justice launches report on litigation funding and class actions

  01/31/2020 | Irish Legal News

  Kirby McInerney Partner Meghan Summers recently presented a report before the Chief Justice of Ireland. The report, which Ms. Summers co-authored, focuses on how class actions could be implemented in Ireland.

• Recent Trends in U.S. Securities Litigation– ADR Litigation Risk
  Part II: ADR Cases Involving Japanese Companies

  11/06/2019 | Business Lawyers

  Christopher Studebaker, Partner, and Sawa Nagano, Of Counsel, co-authored this article discussing recent trends in ADR issuances and post-Morrison cases involving ADRs.  The article is published (in Japanese) in a leading Japanese legal news service.

• Firms Want $2M In Fees For Quantum Accounting Settlement

  10/11/2019 | Law360

  Kirby McInerney and Glancy Prongay & Murray asked a California federal court Thursday for roughly $2 million in fees for their efforts securing a tentative $8 million from data storage company Quantum Corp. to resolve a shareholder lawsuit over its accounting practices.

• Kirby McInerney Achieves 3rd Circuit Victory Reviving State-Law Fraud Claims in Merck Opt-Outs

  09/12/2019 | Law360

  The Third Circuit on Thursday revived fraud claims brought under state law by investors that opted out of class actions involving Merck & Co. Inc.’s statements about cholesterol drugs. 

• The Erosion of American Pipe Tolling

  06/26/2018 | Law360

  Kirby McInerney Partner Meghan Summers authored an article published in Law360 about the erosion of American Pipe tolling of the statute of limitations.

• Kirby McInerney LLP Announces $20,000,000 Settlement of Singapore Pinnacle Notes Litigation with Morgan Stanley

  11/14/2014

  Kirby McInerney, representing a class of plaintiffs, filed papers today with United States District Judge Jesse M. Furman of the Southern District of New York seeking preliminary approval of a settlement in the case Ge Dandong et al v. Pinnacle Performance Limited et al.

• Kirby McInerney Partner, David E. Kovel, Quoted in Financial Times Article on Forex Class Action Lawsuit

  04/06/2014 | The Financial Times

  On April 6, 2014, The Financial Times quoted partner David E. Kovel on the global foreign exchange rate (“forex”) class action lawsuit. The amended complaint, filed on March 31, 2014, alleges that twelve banks acted as co-conspirators in manipulation of global forex prices.

• Kirby McInerney Profiled in Law360’s Most Feared Plaintiffs Firms List

  10/10/2013 | Law360

  Powered by a hard-hitting securities practice that took in nearly a billion dollars for its clients last year, Kirby McInerney LLP has recently racked up an impressive series of wins, including the landmark $590 million settlement of a securities class action targeting Citigroup Inc., earning it a spot on Law360’s Most Feared Plaintiffs Firms list.

• Kirby McInerney Named “Most Feared Plaintiffs Firm” by Law360

  10/04/2013

  Law360 has named Kirby McInerney LLP one of its “Most Feared Plaintiffs Firms.” The main factor considered in selecting the firm was KM’s performance in high-profile, complex cases between July 1, 2011, and July 1, 2013.

• Kirby McInerney’s Andrew McNeela Named Law360 Rising Star

  03/13/2013 | Law360

  Standout Kirby McInerney LLP partner Andrew McNeela has helped secure more than $830 million in settlements in securities fraud class actions in the last 18 months alone, landing him a spot among Law360’s five class action rising stars under 40.

• Shifting Blame Muddles S&P Suit

  02/15/2013 | The Wall Street Journal

  Like many other collateralized debt obligations, Delphinus CDO 2007-1 got a triple-A rating and then defaulted within months, causing painful losses to investors. Who is responsible for the mess?

• Kirby McInerney LLP Announces $168 Million Settlement of Securities Class Action Against National City Corporation

  08/29/2012

  Kirby McInerney LLP has announced the $168 million settlement of a securities class action lawsuit against National City Corporation. The action, led by Kirby McInerney on behalf of the NY State Retirement Pension Fund, was brought on behalf of all persons who purchased or otherwise acquired the common stock of National City between April 30, 2007 and January 2, 2008, inclusive (the “Class Period”).

• Kirby McInerney LLP Announces $590 Million Proposed Settlement of Class Action Claims Against Citigroup Inc.

  08/29/2012

  Kirby McInerney LLP is pleased to announce an agreement to settle the securities class action lawsuit titled In re Citigroup Inc. Securities Litigation, 07-cv-9901 (S.D.N.Y.) for $590 million. The suit was brought on behalf of investors who purchased or otherwise acquired shares of Citigroup common stock during the time period from February 26, 2007 through April 18, 2008 (the “Class Period”).

• 2d Cir. To Hear Case of Investors Who Trumped Morrison

  01/27/2012 | Reuters

  You have to give the lawyers at Kirby McInerney a lot of credit. In a case called Dandong v. Pinnacle Performance, they represent a group of Singapore investors who bought complex notes issued by a Cayman Islands-based Morgan Stanley vehicle that sold the Singapore-registered securities only in Singapore, under a contract that called for disputes to be litigated in Singapore.

• Investor Suit Against Morgan Stanley Moves Ahead

  01/26/2012 | The Singapore Business Times

  Discovery proceedings have finally started more than a year after a group of Singapore investors sued Morgan Stanley for allegedly selling rigged Pinnacle Notes as ​‘safe, conservative​’ investments.

• Investors in MF Global’s “Key Man” Bonds Have Potentially Strong Legal Claims

  11/10/2011 | SeekingAlpha

  Financial transactions are seldom so ironic. Barely three months ago, MF Global (MFGLQ.PK) sold $325 million in 6.25% senior unsecured bonds due August 2016. Dubbed MF’s “Key Man” bonds, the issuance featured an interest rate that would rise if Chairman and Chief Executive Officer Jon Corzine received a federal appointment from the U.S. president.

• Morgan Stanley Must Face Lawsuit Over Failed Debt

  11/03/2011 | Reuters

  A federal judge ordered Morgan Stanley to defend against a lawsuit by Singapore investors that accused it of selling them risky debt that was designed to fail.

• Burnt S’pore Investors Get Their Day in US Sun

  11/03/2011 | The Singapore Business Times

  A group of Singapore investors of Morgan Stanley’s failed Pinnacle Notes have scored a major legal victory after a US federal judge ruled that their class action lawsuit can proceed in New York.

• Roger Kirby Comments to Fox Business News Regarding Rating Agencies and Sovereign Debt

  08/10/2011 | Fox Business News

  Roger Kirby appeared on Fox Business News from the floor of the New York Stock Exchange on August 10 to discuss Kirby McInerney’s securities class action against Moody’s, as well as the rating agencies’ role in gauging sovereign debt.

• Kirby McInerney LLP Announces $75 Million Settlement of Securities Class Action Against Wachovia

  08/05/2011

  Kirby McInerney LLP has announced the $75 million settlement of a securities class action lawsuit, led by KM on behalf of the New York City Pension Funds, against Wachovia Corporation.

• Access To United States Courts By Purchasers Of Foreign Listed Securities

  Summer 2011 | UC Hastings College of the Law

  Roger Kirby published an article in Hastings Business Law Journal discussing access to U.S. courts by purchasers of foreign listed securities.

• Morgan Stanley Wants Sing-a-poor to Disappear

  04/21/2011 | New York Post

  Morgan Stanley is trying hard to keep a potentially embarrassing lawsuit, filed on behalf of a group of Singapore investors, from being heard in the US. The investors — regular folks who risked their pension money — are claiming they were cheated out of $158 million when Morgan Stanley created a security filled with collateralized debt obligations (CDOs) that they allege was designed to go broke and benefit the company.

• Kirby McInerney Appears Before United States Supreme Court Concerning Janus Securities Class Action

  12/07/2010

  The firm appeared before the United States Supreme Court this morning, urging the Court to uphold the United States Court of Appeals for the Fourth Circuit’s decision reinstating Wiggins v. Janus Capital Group following dismissal in district court.

• Court Upholds Major Claims Against Citigroup, Prince, Crittenden, and Rubin in KM-led Lawsuit

  11/10/2010

  Kirby McInerney LLP, Court-appointed lead counsel, announces that the United States District Court for the Southern District of New York sustained, in substantial part, securities fraud claims against Citigroup, Inc. (NYSE: C) and certain of its senior officers - including Citigroup’s former CEO Charles Prince, former CFO Gary Crittenden, and former Chairman Robert Rubin - centering on Citigroup’s collateralized debt obligations (“CDOs”).

• Roger Kirby Comments to CNBC Regarding Recent Changes to International Investors’ Rights Under U.S. Securities Laws

  07/07/2010 | CNBC

  Roger Kirby appeared as a guest on CNBC Asia Squawk Box at 6:30AM on Wednesday, July 7, to discuss the United States Supreme Court’s recent decision in Morrison vs. National Australia Bank, which restricts the rights that international investors have to seek recovery of securities fraud related losses in United States Courts.

• ‘Ponzi Scheme’ At Citi

  12/04/2008 | New York Post

  Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths.

• Kirby McInerney LLP Appointed Lead Counsel in Wachovia Corp. Securities Litigation

  10/15/2008

  Kirby McInerney LLP has been appointed lead counsel to act on behalf of the New York City Pension Funds as lead plaintiff in two class actions filed against Wachovia Corporation (“Wachovia” or “the Company”) in the Southern District of New York.

• Kirby McInerney LLP Appointed Lead Counsel in Citigroup Inc. Securities Litigation

  08/19/2008

  Kirby McInerney LLP has been appointed lead counsel to act on behalf of a group of investors who have been appointed lead plaintiff in a securities class action against Citigroup Inc. The action is brought on behalf of all persons who purchased or otherwise acquired the common stock of Citigroup between January 2, 2004 and November 21, 2007, inclusive (the “class period”).

• Lawsuit Says Citigroup Misled Investors

  01/01/2008 | BusinessWeek Online

  An extensive new complaint in a lawsuit against Citigroup (C) charges that the banking giant misled investors about the size and risk of its housing-market wagers, raising questions about how early the bank knew it faced serious trouble from the assets that have plagued its balance sheet and stock price.