• Case

  In re Shale Oil/WTI Crude Oil Futures & Derivatives Litigation, No. 25-cv-00447 (D.N.M.)

• Type Commodities
• Status Pending
• KM acts as court-appointed interim co-lead counsel for a putative class of investors who transacted in West Texas Intermediate (WTI) crude oil-based derivatives. The case alleges that several of the largest U.S. shale oil producers conspired to constrain output, directly moving the prices of derivatives tied to WTI crude oil.

• Case Ray, et al. v. NCAA, 1:23-cv-00425 (E.D. Cal.)
• Type Antitrust
• Status Pending
• Representation of a certified class of Division I college coaches whose wages were illegally fixed at $0 in Ray et al. v. NCAA.  The case resulted in a settlement of $303 million.  The agreement compensates approximately 7,718 college coaches who worked hard and provided valuable services to their teams without any pay or benefits.

• Case Local 295 IBT Employer Group Welfare Fund v. Compass Minerals Int'l, Inc., 2:22-cv-02432 (D. Kan.)
• Type Securities
• Status Settled
• KM is lead counsel in Local 295 IBT Employer Group Welfare Fund v. Compass Minerals Int'l, Inc., a putative class action alleging that Compass Minerals and three of its former officers misled investors about the progress and cost savings associated with its implementation of a new salt mining initiative.  The parties have reached a settlement of $48 million.  The final approval hearing is scheduled for July 30, 2025.

• Case In re PureCycle Technologies, Inc. Derivative Litigation, 21: 1569-RGA (D. Del)
• Type Securities, Corporate Governance
• Status Settled
• KM is stockholder’s counsel in In re PureCycle Technologies, Inc. Derivative Litigation, a shareholder derivative action against PureCycle, a company which recycles polypropylene plastic waste, alleging violation of Section 20(a) of the Exchange Act, breach of fiduciary duty, unjust enrichment, and aiding and abetting. On May 7, 2024, the Company agreed to pay $3 million and to adopt internal controls and board composition reforms to settle the litigation.

• Case May v. Google et al., 24-cv-01314 (N.D. Cal.).
• Type Consumer Fraud
• Status Pending
• Counsel in a consumer class action alleging that for nearly a decade Google has knowingly kept stolen money from victims of gift card scams who purchased Google Play gift cards.  Damages total in the millions of dollars.

• Case M&N Trading, LLC v. BofA Securities, Inc., Merrill Lynch, et al.,
  24-cv-1229 (N.D. Ill.)
• Type Commodities, Antitrust
• Status Pending

• Case Axonic Capital LLC v. Gateway One Lending & Finance, LLC,
  No. 18-cv-05127 (C.D. Cal.). 
• Type Securities, Structured Finance
• Status Settled
• Representation of institutional investors in a lawsuit involving ABS backed by automobile loans. The case alleges that in marketing these ABS to plaintiffs and other investors, defendants TCF Bank and Gateway fraudulently and materially understated the key metric that investors rely upon to evaluate and price auto-loan ABS, resulting in millions of dollars of investor losses. The court recently denied TCF Bank’s and Gateway’s motion to dismiss. 

• Case United States and State of New York ex rel. Martinho v. Gramercy Cardiac Diagnostic Services P.C.,
  No. 18-cv-7400 (S.D.N.Y.).
• Type Whistleblower
• Status Settled
• Representation of a whistleblower in a healthcare action under the federal and New York State False Claims Acts against Gramercy Cardiac Diagnostic Services P.C. and its owner. The complaint alleged that defendants violated the federal and New York State False Claims Acts by engaging in a wide-ranging kickback scheme to pay large numbers of doctors for referring patients to their radiology business. The case resulted in a settlement of $6.5 million.

• Case United States ex rel. Doe v. FPR Specialty Pharmacy, 
  No. 16-cv-5204 (S.D.N.Y.).
• Type Whistleblower
• Status Settled
• Representation of a whistleblower against FPR Specialty Pharmacy, a compounding pharmacy, and affiliates in United States ex rel. Doe v. FPR Specialty Pharmacy LLC, alleging they had fraudulently billed government health care plans, including Medicare and Tricare, for millions of dollars for defendants’ tubes of “Focused Pain Relief” pain cream that they sold for up to $2,000 a tube. The matter resulted in a settlement, 21% of which our client received as their whistleblower award.

• Case Maverick Neutral Levered Fund, Ltd. v. Valeant Pharmaceuticals International, Inc.,
  No. 20-cv-02190 (D.N.J.).
• Type Securities
• Status Pending
• We are acting as counsel in this securities class action alleging that Valeant materially misrepresented its business model, touting artificial and unsustainable growth that was enabled by the company’s deceptive and illegal conduct. The case has important implications not only for Valeant’s shareholders, who sustained significant losses when the company’s misrepresentations were disclosed, but for corporate governance in the pharmaceutical industry as a whole, and for consumers: Valeant’s growth during the class period was driven not by “organic growth” sustained by volume increases and cost savings, but by price gouging (ex: within two days of acquiring the rights to Nitropress and Isuprel, two drugs used to treat emergency heart conditions, Valeant increased their prices by 212% and 525%, respectively).

• Case New York ex rel. Raw Data Analytics v. J.P. Morgan Chase & Co.,
  No. 100271/2015 (N.Y. Sup. Ct.).
• Type Whistleblower
• Status Settled
• Representation of a whistleblower under New York’s False Claims Act alleging that J.P. Morgan Chase failed to calculate and pay required interest on past due unclaimed property reporting to New York’s Office of the State Comptroller. 

• Case State of New York v. Covanta Hempstead Company., 
  No. 007549/2013 (N.Y. Sup. Ct., Nassau Cty.).
• Type Whistleblower
• Status Pending
• Representation of a whistleblower who alleges that waste-to-energy plant operator Covanta violated environmental regulations by creating hazardous ash as a by-product of the burning of garbage from multiple Long Island towns. The case has been brought on behalf of New York State, certain local governments on Long Island, and the Long Island Power Authority (LIPA). Over the course of a decade, these local governments paid $890 million to Covanta to take their communities’ garbage in an environmentally safe way. As alleged, Covanta did not, in fact, abide by the necessary protocols to keep the ash that was dumped in the Brookhaven landfill from being hazardous.

• Case United States and State of New York ex rel. WB Bros. LLC v. Toobian,
  No. 15-cv-5188 (S.D.N.Y.).
• Type Whistleblower
• Status Pending
• KM represents the whistleblower in the healthcare kickbacks case where the government intervened in the case and is pursuing criminal kickback charges against radiology businesses and their owner.

• Case Aozora Bank, Ltd. v. J.P. Morgan Securities LLC,
  No. 652159/2013 (N.Y. Sup. Ct.).
• Type Structured Finance
• Status Settled
• Representation of Aozora Bank, Ltd. in a lawsuit involving a fraudulent CDO whose underlying collateral was represented by J.P. Morgan to be high-grade and selected by an independent collateral manager. The case alleged that J.P. Morgan secretly usurped control over portfolio selection and filled the CDO with toxic assets that J.P. Morgan wished to remove from its own books.

• Case CIMB Thai Bank PCL v. Morgan Stanley.,
  No. 653777/2012 (N.Y. Sup. Ct.).  
• Type Structured Finance
• Status Settled
• Representation of CIMB Thai Bank PCL in a lawsuit relating to four fraudulent CDOs, the underlying collateral for which Morgan Stanley represented would be comprised of safe, high-quality assets selected by independent collateral managers. The case alleged that Morgan Stanley controlled portfolio selection and chose high-risk collateral, while actively shorting the same collateral in order to enrich itself at Plaintiff’s expense.

• Case Apple Gift Card Litigation,
  No. 20-cv-04812 (N.D. Cal.). 
• Type Consumer Fraud
• Status Pending
• Serving as co-lead counsel to a class of consumers who were victims of gift card scams and from whom Apple allegedly withholds funds. KM Partner Anthony Fata developed and filed the first complaint in this proprietary case. Drawing on his financial crimes expertise, Mr. Fata developed the factual theories underpinning the case, helped to organize counsel, and led and is currently co-leading efforts on behalf of the class. This matter has resulted in a settlement of $35 million for the class.

• Case Fli-Lo Falcon Llc v. Amazon.Com Inc.,
  No. 22-cv-441 (W.D. Wash.).
• Type
• Status Pending
• We are currently serving as lead counsel to a class of small package delivery companies defrauded by Amazon under its Delivery Service Partners (DSP) Program. The case alleges that the DSP program represents an unlawful scheme to shield Amazon from its responsibilities to DSPs, their drivers, and the public; minimize the risk of unionization among drivers; foist costs that Amazon would otherwise bear as an employer of drivers onto DSPs despite the fact that the drivers are functionally Amazon employees; and limit Amazon’s delivery costs by imposing policies and rules intended to prevent DSPs from achieving performance-related payments. 

• Case In re Broiler Chicken Antitrust Litigation,
  No. 16-cv-08637 (N.D. Ill.).
• Type Antitrust
• Status Pending
• Serving as counsel for a certified class of commercial and institutional businesses in a case alleging that numerous poultry producers, such as Tyson and Perdue Farms, conspired to limit production and increase the price of broiler chickens. These big-name poultry producers' conduct additionally led to a criminal investigation and numerous indictments.

• Case In re Credit Default Swaps Auctions Litigation,
  No. 21-cv-00606 (D.N.M.).
• Type Antitrust, Commodities
• Status Pending
• KM acts as interim co-lead counsel on behalf of a class led by the New Mexico Office of the Attorney General, the New Mexico State Investment Council, the Public Employees Retirement Association of New Mexico, and the New Mexico Educational Retirement Board. The case alleges that leading credit default swap (CDS) dealers took part in a more than decade-long, multibillion-dollar scheme to manipulate the benchmark prices used to value credit default swap contracts at settlement.

• Case In re Digital Advertising Antitrust Litigation, No. 20-cv-03556 (N.D. Cal.). 
• Type Antitrust
• Status Pending
• Acting as a court-appointed executive committee member and class counsel representing publishers alleging that Google monopolized and suppressed competition in online display advertising.

• Case In re Effexor XR Antitrust Litigation, 
  No. 11-cv-5479 (D.N.J.). 
• Type Antitrust, Healthcare Fraud
• Status Pending
• Acting as lead counsel and head of the discovery committee to a putative class of direct purchasers of brand name and generic equivalents of extended-release venlafaxine hydrochloride capsules against drug manufacturers. Among the claims, defendants are alleged to have delayed market entry of generic versions and entered reverse payment settlements.

• Case In re North Sea Brent Crude Oil Futures Litigation,
  No. 13-md-02475 (S.D.N.Y.). 
• Type Antitrust, Commodities
• Status Pending
• KM acted as the sole court-appointed interim lead counsel on behalf of a putative class of investors alleging manipulation of the Platts Brent Crude Oil benchmark by major oil producers, which harmed traders who transacted in derivatives tied to the benchmark.

• Case In re Packaged Seafood Products Antitrust Litigation,
  No. 15-md-02670 (S.D. Cal.). 
• Type Antitrust
• Status Pending
• Representing class members in this case alleging that the defendants, StarKist, Bumble Bee, Chicken of the Sea, and their parent companies, conspired to fix the price of packaged tuna. This case impacts the everyday consumer due to the overwhelming control these three corporations have over the market for this food staple.

• Case Reynolds v. Beneficial National Bank,
  No. 98-cv-02178 (N.D. Ill.).  
• Type Consumer Fraud
• Status Pending
• Co-lead counsel in a class action against H&R Block and HSBC (as successor to Beneficial National Bank) for the benefit of almost two million taxpayers who had obtained Refund Anticipation Loans (“RALs”). The case alleged that H&R Block and Beneficial National Bank made misrepresentations and charged people undisclosed fees on RALs. After years of litigation and appeals, the case resulted in a settlement of $39 million in cash.

• Case Sullivan v. Barclays PLC,
  No. 13-cv-02811 (S.D.N.Y.). 
• Type Antitrust, Commodities
• Status Pending
• KM acts as class counsel in this benchmark rate antitrust litigation on behalf of a putative class of investors who traded derivative products linked to Euribor, including futures and options contracts on the NYSE LIFFE exchange. The case has resulted in partial settlements of more than $650 million.

• Case Wacker v. J.P. Morgan Chase & Co.,
  No. 15-cv-00994 (S.D.N.Y.).  
• Type Antitrust, Commodities
• Status Pending
• KM represented individual traders alleging manipulation of silver futures spreads by JP Morgan. KM achieved a landmark appellate decision in this case establishing pleading standards for monopolization claims in futures markets, Wacker v. JP Morgan Chase & Co., 678 F. App’x 27 (2d Cir. 2017). The case preceded a related Department of Justice criminal investigation into JP Morgan that resulted in over $920 million in criminal penalties.

• Case CFTC v. Shak,
  No. 14-cv-01632 (D.D.C.).  
• Type Commodities
• Status Pending
• KM represented a defendant in a case brought by the CFTC under the Commodity Exchange Act for violations of an administrative order related to the gold futures market.

• Case In re Bank of Nova Scotia Spoofing Litigation,
  No. 20-cv-11059 (D.N.J.). 
• Type Commodities
• Status Settled
• KM attorneys served as members of the court-appointed executive committee in this case alleging manipulation of precious metals futures and options by a major bank. The case resulted in a settlement of $6.6 million.

• Case In re Cattle and Beef Antitrust Litigation,
  No. 22-cv-03031 (D. Minn.).
• Type Commodities
• Status Pending
• KM acts as court-appointed executive committee member and class counsel on behalf of a putative class of cattle producers and cattle futures and options traders, alleging that the “Big 4” meatpacking firms conspired to suppress prices for fed cattle and manipulate live cattle futures and options prices. The case has already resulted in a $83.5 million settlement with one of the defendants.

• Case In re Commodity Exchange, Inc., Gold Futures and Options Trading Litigation,
  No. 14-md-02548 (S.D.N.Y.).  
• Type Commodities
• Status Pending
• KM acted as class counsel on behalf of a putative class of investors alleging a scheme by major banks to manipulate the global benchmark price of gold, which harmed traders who transacted in gold futures and options on U.S.-based exchanges. The case resulted in settlements totaling $152 million.

• Case In re Deutsche Bank Spoofing Litigation,
  No. 20-cv-03638 (N.D. Ill.). 
• Type Commodities
• Status Pending
• KM acts as interim co-lead counsel on behalf of a putative class of investors alleging manipulation through “spoofing” of U.S. Treasury futures and Eurodollar futures and options by a major bank.

• Case In re Hard Disk Drive Suspension Assemblies Antitrust Litigation,
  No. 19-md-02918 (N.D. Cal.). 
• Type Antitrust
• Status Pending
• Ongoing representation of a class of purchasers alleging that defendants fixed the prices of suspension assemblies, a critical component of hard disk drives, raising the prices of computers throughout the U.S. 

• Case In re Natwest Treasury Futures Spoofing Litigation,
  No. 22-cv-00479 (N.D. Ill.).
• Type Commodities
• Status Pending
• KM acts as court-appointed interim co-lead counsel on behalf of a putative class of investors alleging manipulation through “spoofing” of U.S. Treasury futures and options by a major bank.

• Case Dennis v. The Andersons, Inc.,
  No. 20-cv-04090 (N.D. Ill.).
• Type Antitrust, Commodities
• Status Pending
• KM acts as co-class counsel on behalf of a certified class of exchange-based investors alleging monopolization and manipulation of Chicago Board of Trade soft red winter wheat futures contracts in violation of federal antitrust and commodity exchange laws.

• Case Dufoe v. DraftKings Inc., et al, 23-cv-10524 (D.Mass.). 
• Type Securities
• Status Settled
• Lead counsel to a class of investors that purchased non-fungible tokens (NFTs) from DraftKings Inc., which operates as a daily fantasy sports contest and sports betting company. The case alleges that DraftKings sold unregistered securities and ensured that money stayed on DraftKings’ private and exclusively controlled marketplace, propping up the market for an overall valuation of DraftKings’ NFTs and significantly harming investors.  The matter resulted in a $10 million settlement.

• Case Macovski v. Groupon Inc.,
  No. 20-cv-2581 (N.D. Ill.).
• Type Securities
• Status Settled
• We acted as co-lead counsel in this securities class action alleging that the company made materially false and misleading statements and failed to disclose to investors its financial health before ending its sale of physical goods and announcing the departure of two top executives. The case resulted in a $13.5 million settlement that has received final approval.

• Case In re JPMorgan Treasury Futures Spoofing Litigation, 
  No. 20-cv-03515 (S.D.N.Y.).
• Type Antitrust, Commodities
• Status Settled
• KM acted as court-appointed co-lead counsel on behalf of a putative class of investors alleging that JPMorgan manipulated U.S. Treasury futures and options in violation of the Commodity Exchange Act, 7 U.S.C. §§ 1, et seq. (the “CEA”) and the common law.  The case resulted in a settlement of $15.7 million.

• Case Doyle v. Reata Pharmaceuticals, Inc.,
  No. 21-cv-00987 (E.D. Tex.).
• Type Securities
• Status Settled
• We are representing Wespath, the General Board of Pension and Health Benefits of the United Methodist Church, in this securities class action alleging that Reata Pharmaceuticals made false and/or misleading statements — including in connection with its secondary public stock offerings — concerning, inter alia, the FDA guidance regarding the design of the clinical trial (CARDINAL) for Reata’s drug candidate, bardoxolone methyl. When the FDA revealed serious concerns it had previously raised to Reata, the share price declined materially.  The case has resulted in a settlement of $45 million.

• Case CFTC Whistleblower Award,
  No. 21-WB-07
• Type Antitrust, CFTC Whistleblower, Commodities, False Claims Act, Whistleblower
• Status Settled
• KM represented the whistleblower who received nearly $200 million, the largest CFTC whistleblower award ever and the second largest whistleblower award arising under the Dodd-Frank and IRS whistleblower programs. The information the whistleblower provided catalyzed investigations by the Commodity Futures Trading Commission (CFTC), a U.S. federal regulator, and a foreign regulator into the manipulation of crucial financial benchmarks used by global banks as the basis for the pricing of fixed income securities and derivative products.  The CFTC initially rejected the whistleblower’s award application, but KM's advocacy resulted in a successful appeal for the client.

• Case State of New York ex rel. Tooley, LLC v. Sandell,
  No. 101494/2018 (N.Y. Sup. Ct. N.Y. Cty.).
• Type False Claims Act, Tax Fraud, Whistleblower
• Status Settled
• KM procured the largest-ever settlement of an income tax whistleblower case under the New York False Claims Act – $105 million – through our representation of a whistleblower against hedge fund billionaire Thomas Sandell and Sandell Asset Management Corporation alleging they submitted false New York tax returns that failed to count more than $450 million as New York-taxable income, causing them to underpay New York taxes by more than $50 million.  Our client received award of 21% of the $105 million recovery.

• Case Mason-Mahon v. Flint,
  No. 602052/2014 (N.Y. Sup. Ct., Nassau Cty.).
• Type Corporate Governance, Securities
• Status Settled

• KM represented an English investor in a shareholder derivative lawsuit against officers and directors of HSBC Holdings and its subsidiaries, alleging that HSBC facilitated money laundering operations out of New York City. In a matter of first impression, we established the right of English shareholders to bring derivative claims against English companies in New York state courts. The litigation settled for $72.5 million, the then-largest foreign derivatives settlement ever reached and one of the largest insurer-funded cash payments achieved in a U.S. derivative lawsuit.

• Case Kokareva v. Bristow Group Inc., 
  No. 19-cv-00509 (S.D. Tex.).
• Type Securities
• Status Settled
• We acted as co-lead counsel in this securities class action alleging that an aviation services provider, focused on the oil and gas sector, made materially false and misleading statements about its internal controls relating to covenants in the company’s secured financing agreements. The case resulted in a $6.25 million settlement that has received final approval.

• Case Anonymous, et ano. v. Moody's Corporation,
  No. 103997/2012 (N.Y. Sup. Ct.).
• Type False Claims Act, Tax Fraud, Whistleblower
• Status Settled
• We obtained an $8.5 million award – the largest-ever settlement in a declined New York State False Claims Act case – for a whistleblower in a groundbreaking case against Moody's and others under the New York State False Claims Act. The litigation brought to light a multi-year, multi-million-dollar tax fraud scheme executed by Moody’s and its consultants wherein the company repeatedly underpaid city and state taxes by maintaining a sham insurance corporation as a subsidiary. KM was successful both before the trial court as well as on appeal before the New York City First Department.  Our client received an award of 30% of the $8.5 million recovery.

• Case In re Foreign Exchange Benchmark Rates Antitrust Litigation, 
  No. 13-cv-07789 (S.D.N.Y.).
• Type Antitrust, Commodities
• Status Settled
• KM acted as special fiduciary counsel for exchange-based investors for a putative class of investors alleging that major banks conspired to fix prices in the foreign exchange (FX) market, which harmed traders who transacted in FX futures and options on U.S.-based exchanges. The case resulted in partial settlements of more than $2.3 billion.

• Case In re Cathode Ray Tube (CRT) Antitrust Litigation, 
  MDL No. 1917 (N.D. Cal.). 
• Type Antitrust
• Status Settled
• KM is one of the core firms in an indirect purchaser antitrust litigation. The case resulted in settlements on behalf of end payers totaling $576.75 million. Specifically, the Special Master in the CRT litigation noted that, “Kirby played an integral role in this case and assumed significant risk . . . Kirby’s work was at a very high level [and] Kirby’s work greatly benefited the Class.”

• Case New York ex rel. Choe v. Spa Castle, Inc., 
  No. 101243/2014 (N.Y. Sup. Ct., N.Y. Cty.).
• Type Whistleblower
• Status Settled
• Representation of a whistleblower in a New York State False Claims Act case alleging that a spa business in Queens underpaid taxes by employing fraudulent schemes to manipulate its revenues and to pay employees in cash and off the books.  The case resulted in a settlement of $2.5 million, with a 23% whistleblower award, as well as criminal tax fraud convictions.  Our client received an award of 23% of the $2.5 million recovery.

• Case Esposito v. American Renal Associates Holdings, Inc.,
  No. 16-cv-11797 (D. Mass.).
• Type Securities
• Status Settled
• Esposito v. American Renal Assocs. Holdings, Inc., No. 16-cv-11797 (D. Mass. 2018).  Lead counsel.  $4 million settlement.

• Case In re Ductile Iron Pipe Fittings (“DIPF”) Indirect Purchaser Antitrust Litigation,
  No. 12-cv-00169 (D.N.J.). 
• Type Antitrust
• Status Settled
• Co-lead counsel in a case alleging the raising and fixing of prices in the market for ductile iron pipe fittings. The case resulted in a settlement of $4.1 million.

• Case In re Resonant Inc. Securities Litigation,
  No. 15-cv-01970 (C.D. Cal.).
• Type Securities
• Status Settled
• In re Resonant Inc. Securities Litigation, No. 15-cv-01970 (C.D. Cal. 2017).  Co-lead counsel.  $2.75 million settlement.

• Case In re Molycorp, Inc. Securities Litigation,
  No. 13-cv-05697 (S.D.N.Y.).
• Type Securities
• Status Settled
• In re Molycorp, Inc. Securities Litigation, No. 13-cv-05697 (S.D.N.Y. 2017).  Lead counsel.  $1.25 million settlement.