NEW YORK--(BUSINESS WIRE) -- The law firm of Kirby McInerney LLP is pleased to announce that it has created a new practice group focused on supporting whistleblowers under the newly announced U.S. Department of Justice’s Antitrust Division Whistleblower Rewards Program.
Thomas W. Elrod
Partner
- New York
-
250 Park Avenue
Suite 820
New York, NY 10177 - 212.699.1172
Biography
Biography
Thomas W. Elrod is a partner based in our New York office focusing on securities, commodities, and antitrust litigation.
Mr. Elrod joined the firm in 2011.
- University of Chicago (B.A. 2005)
- Boston University School of Law (J.D. 2009)
- New York State Bar
- New Jersey State Bar
- United States District Courts for the Southern and Eastern Districts of New York
- United States District Court for the District of New Jersey
- United States Courts of Appeals for the Second, Third, Seventh, Eighth, Ninth, and Tenth Circuits
Super Lawyers, Top Rated Attorney - Securities Litigation, 2021-2024
Super Lawyers Rising Star, 2015-2020
Super Lawyers Rising Star, 2015-2020
Experience
Some of Mr. Elrod’s securities experience includes:
- Representation of the Lead Plaintiff 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 matter resulted in a settlement of $48 million.
- Lead counsel representing Wespath, the General Board of Pension and Health Benefits of the United Methodist Church, in Doyle v. Reata Pharmaceuticals, a securities class action alleging that Reata 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.
- Co-lead counsel in Macovski v. Groupon Inc. et al., a 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.
- Lead counsel 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 collateralized debt obligations. This case settled for $590 million.
- Class counsel in Shah v. Zimmer Biomet Holdings, a securities class action alleging that a medical device company did not disclose systemic quality issues at its manufacturing facility. The case resulted in a $50 million settlement.
- Co-lead counsel in Kokareva v. Bristow Group Inc., a 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.
- Lead counsel in In re Hi-Crush Partners L.P. Securities Litigation, a securities class action alleging that fracking sand producer Hi-Crush Partners misled shareholders regarding a major customer relationship. This case resulted in a $3.8 million settlement.
- Lead counsel in Barfuss v. DGSE Companies, Inc., a securities class action alleging that a company that sold precious metals to wholesale and retail customers filed materially misleading financial statements. The case resulted in a $1.7 million settlement.
- Co-lead counsel in In re Resonant Inc. Securities Litigation, a securities class action alleging that a mobile phone component company misled investors concerning its ability to meet the terms of a development agreement. The case resulted in a $2.75 million settlement.
- Representation of municipal issuers, including governmental entities and hospital systems, in FINRA arbitrations alleging misrepresentations by underwriters in connection with Auction Rate Securities issuances.
- Selected by the Court as co-lead counsel in In re J.P. Morgan Treasury Futures Spoofing Litigation, alleging that defendants manipulated U.S. Treasury futures for more than a decade and that this conduct contributed to the bank’s recent $920 million settlement with the DOJ, CFTC, and SEC. The case has a putative settlement of $15.7 million.
- Representation of the exchange-based class in In re LIBOR-Based Financial Instruments Antitrust Litigation, an antitrust case alleging that defendant banks colluded to misreport and manipulate LIBOR. The case resulted in settlements totaling $190.45 million, which combined represent the largest recovery in a “futures-only” commodities class action litigation.
- Special fiduciary representation for the exchange-based class in In re Foreign Exchange Benchmark Rates Antitrust Litigation for a putative class of participants who traded futures and options in the FX market. The case has already resulted in partial settlements of more than $2.3 billion.
- Court-appointed executive committee member and class counsel in In re Cattle Antitrust Litigation, representing cattle producers and cattle futures traders. The suit alleges that the “Big 4” meatpacking firms conspired to suppress prices for fed cattle and manipulated live cattle futures traded on the Chicago Mercantile Exchange.
- Lead counsel on behalf of a proposed class of Brent crude oil futures traders alleging benchmark manipulation in In re North Sea Brent Crude Oil Futures Litigation.
- Representation of exchange-based investors in Shak v. J.P. Morgan Chase & Co., alleging monopolization and manipulation of the silver futures market in violation of federal antitrust and commodity exchange laws. The parties successfully reached a private settlement. The case preceded a related Department of Justice criminal investigation into J.P. Morgan that remains ongoing.
- Representation of a whistleblower who received the largest-ever individual award (nearly $200 million) arising under the Dodd-Frank whistleblower reward program after he provided information regarding the manipulation of crucial financial benchmarks used by global banks as the basis for the pricing of fixed income securities and derivative products.
- Representation of a nationwide class of residential mortgage loan borrowers in Rothstein v. GMAC Mortgage LLC, a class action alleging violations of the Racketeer Influence and Corrupt Organizations Act. This litigation resulted in a $13 million settlement against GMAC Mortgage.
- Representation of SEC, CFTC, and FCA whistleblowers who claim that their companies have violated federal law or defrauded the United States Government.
Cases & Investigations
- Case / Company Name
- Type
- Status
- Name Novo Nordisk A/S
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Novo Nordisk A/S (“Novo” or the “Company”) (NYSE:NVO) securities during the period of May 7, 2025 through July 28, 2025, inclusive (“the Class Period”). If you suffered a loss on your Novo investments, you have until September 30, 2025 to request lead plaintiff appointment.
According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Novo's growth potential; notably, that its asserted potential to capitalize on the compounded market greatly understated the potential impact of the personalization exception to the compounded GLP-1 exclusion and overstated the likelihood such patients would switch to Novo's branded alternatives, and further greatly overstated the potential GLP-1 market or otherwise Novo's capability to penetrate said markets to achieve continued growth.
On July 29, 2025, Novo announced it was lowering its sales and profit outlook ahead of reporting its results for the second quarter of fiscal year 2025. The Company attributed the guide down on "lowered growth expectations for the second half of 2025" for both Wegovy and Ozempic due to "the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition." Following this news, the price of Novo's common stock declined dramatically. From a closing market price of $69.00 per share on July 28, 2025, Novos stock price fell to $53.94 per share on July 29, 2025, a decline of about 21.83% in the span of just a single day.
- Name Snap Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Snap Inc. (“Snap” or the “Company”) (NYSE:SNAP) securities during the period of April 29, 2025 through August 5, 2025, inclusive (“the Class Period”). If you suffered a loss on your Snap investments, you have until October 20, 2025 to request lead plaintiff appointment.
According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Snap's advertising revenue growth rate; notably, that, due to Snap's own execution failure, it had significantly declined from 9% in the first quarter to only 1% in April.
On August 5, 2025, Snap announced its financial results for the second quarter of fiscal 2025, disclosing a deceleration in advertising revenue growth. The Company attributed the slowdown to "an issue related to our ad platform, the timing of Ramadan and the effects of the de minimis changes." Following this news, the price of Snap's common stock declined dramatically. From a closing market price of $9.39 per share on August 5, 2025, Snap's stock price fell to $7.78 per share on August 6, 2025, a decline of about 17.15% in the span of just a single day.
- Name Tesla Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Tesla Inc. (“Tesla” or the “Company”) (NASDAQ:TSLA) securities during the period of April 19, 2023 through June 22, 2025, inclusive (“the Class Period”). If you suffered a loss on your Tesla investments, you have until October 3, 2025 to request lead plaintiff appointment.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Tesla overstated the effectiveness of its autonomous driving technology; (ii) there was thus a significant risk that the Company's autonomous driving vehicles, including the Robotaxi, would operate dangerously and/or in violation of traffic laws; (iii) the foregoing increased the likelihood that Tesla would become subject to heightened regulatory scrutiny; (iv) accordingly, Tesla's business and/or financial prospects were overstated; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
On June 22, 2025, Tesla debuted its Robotaxi service with a highly publicized launch event in Austin, Texas. At the event, approximately 10 autonomous driving Robotaxis with a "safety monitor" in the front passenger seat began picking up invite-only passengers in a geofenced 10-mile by five-mile square of Austin. The next day, Bloomberg published an article entitled "Tesla Robotaxi Videos Show Speeding, Driving Into Wrong Lane," which reported that "Tesla Inc.'s self-driving taxis appeared to violate traffic laws during the company's first day offering paid rides, with one customer capturing footage of a left turn gone wrong and others traveling in cars that exceeded posted speed limits." That same day, in an article entitled "Tesla Robotaxi Incidents Draw Scrutiny From US Safety Agency," Bloomberg reported that the U.S. National Highway Traffic Safety Administration ("NHTSA") had contacted Tesla regarding the foregoing incidents, noting that the NHTSA "is aware of the incidents that were captured in videos posted on social media and is gathering additional information from the company." Further, the Bloomberg article quoted a statement released by the agency that "[f]ollowing an assessment of those reports and other relevant information, NHTSA will take any necessary actions to protect road safety."
Then on June 24, 2025, in an article entitled "NHTSA Now Targets Tesla Robotaxi After Autonomous EVs Break Traffic Laws," International Business Times stated, in relevant part, that "the emergence of videos showing concerning behaviour by Tesla's robotaxis may dampen public enthusiasm. The controversy has also triggered fresh criticism and could impact the scheduled rollout later this month."
Following these reports, Tesla's stock price fell $21.13 per share over two trading sessions, or 6.05%, to close at $327.55 per share on June 25, 2025.
After the end of the Class Period, on August 1, 2025, it was reported that a jury in a trial in the U.S. District Court for the Southern District of Florida determined that Tesla should be held partly liable for a fatal 2019 Autopilot crash, and must compensate the family of the deceased and an injured survivor a portion of $329 million in damages.
- Name Unicycive Therapeutics, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Unicycive Therapeutics, Inc. (“Unicycive” or the “Company”) (NASDAQ:UNCY) securities during the period of March 29, 2024 through June 27, 2025, inclusive (“the Class Period”). If you suffered a loss on your Unicycive investments, you have until October 14, 2025 to request lead plaintiff appointment.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i)Unicycive's readiness and ability to satisfy the FDA's manufacturing compliance requirements was overstated; (ii) the OLC NDA's regulatory prospects were likewise overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times.
On June 10, 2025, Unicycive issued a press release "announcing an update on its [NDA] for [OLC] to treat hyperphosphatemia in patients with [CKD] on dialysis." Therein, the Company disclosed that the FDA "had identified deficiencies in cGMP [current good manufacturing practice] compliance at a third-party manufacturing vendor"-specifically, a third-party subcontractor of Unicycive's contract development and manufacturing organization ("CDMO")-"following an FDA inspection" and that, "given the identified deficiencies, any label discussions between the FDA and the Company are precluded." On this news, Unicycive's stock price fell $3.68 per share, or 40.89%, to close at $5.32 per share on June 10, 2025.
Then, on June 30, 2025, Unicycive issued a press release announcing that the FDA had issued a Complete Response Letter for the OLC NDA, citing the previously identified cGMP deficiencies at the third-party subcontractor of its CDMO. On this news, Unicycive's stock price fell $2.03 per share, or 29.85%, to close at $4.77 per share on June 30, 2025.
- Name CTO Realty Growth, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired CTO Realty Growth, Inc. (“CTO Realty” or the “Company”) (NYSE: CTO) securities during the period of February 18, 2021 through June 24, 2025, inclusive (“the Class Period”). If you suffered a loss on your CTO Realty investments, you have until October 7, 2025 to request lead plaintiff appointment.
- Name Fortinet, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Fortinet, Inc. (“Fortinet” or the “Company”) (NASDAQ: FTNT). The investigation concerns whether Fortinet and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Nutex Health Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Nutex Health Inc. (“Nutex” or the “Company”) (NASDAQ: NUTX) securities during the period of August 8, 2024 through August 14, 2025, inclusive (“the Class Period”). If you suffered a loss on your Nutex investments, you have until October 21, 2025 to request lead plaintiff appointment.
- Name AVITA Medical, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against AVITA Medical, Inc. (“AVITA” or the “Company”) (NASDAQ: RCEL). The investigation concerns whether AVITA and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Lantheus Holdings, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Lantheus Holdings, Inc. (“Lantheus” or the “Company”) (NASDAQ: LNTH). The investigation concerns whether Lantheus and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Pubmatic, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Pubmatic, Inc. (“Pubmatic” or the “Company”) (NASDAQ: PUBM) securities during the period of February 27, 2025 through August 11, 2025 inclusive (“the Class Period”).
- Name BellRing Brands, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against BellRing Brands, Ic. (“BellRing” or the “Company”) (NYSE: BRBR). The investigation concerns whether BellRing and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name National Grid plc
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against National Grid USA Service Company, Inc. (“National Grid” or the “Company”) (NYSE: NGG). The investigation concerns whether National Grid and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Charter Communications, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Charter Communications, Inc. (“Charter” or the “Company”) (NASDAQ: CHTR) securities during the period of July 26, 2024 through July 24, 2025, inclusive (“the Class Period”). If you suffered a loss on your Charter investments, you have until October 14, 2025 to request lead plaintiff appointment.
- Name KinderCare Learning Companies, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Oregon on behalf of those who acquired KinderCare Learning Companies, Inc. (“KinderCare” or the “Company”) (NYSE: KLC) common stock during the period of October 6, 2024 through August 12, 2025 inclusive (“the Class Period”). Investors have until October 14, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Albany International Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Albany International Corporation (“Albany” or the “Company”) (NYSE: AIN). The investigation concerns whether Albany and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name SelectQuote, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against SelectQuote, Inc. (“SelectQuote” or the “Company”) (NYSE:SLQT). The investigation concerns whether SelectQuote and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Altimmune, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Maryland on behalf of those who acquired Altimmune, Inc. (“ALT” or the “Company”) (NASDAQ: ALT) securities during the period of August 10, 2023 through June 25, 2024, inclusive (“the Class Period”). Investors have until October 6, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Fluor Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Fluor Corporation (“Fluor” or the “Company”) (NASDAQ:REPL). The investigation concerns whether Fluor and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Lineage, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Michigan on behalf of those who acquired Lineage, Inc. (“Lineage” or the “Company”) (NASDAQ:LINE) securities in connection with, or traceable to, the Company’s July 2024 initial public offering (“IPO”). Investors who acquired Lineage shares at any time from July 2024 through July 31, 2025 might have claims in connection with this lawsuit. Investors have until September 30, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Anika Therapeutics, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Anika Therapeutics, Inc. (“Anika” or the “Company”) (NASDAQ:ANIK). The investigation concerns whether Anika and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Lockheed Martin Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Lockheed Martin Corporation (“Lockheed Martin” or the “Company”) (NYSE:LMT) securities during the period of January 23, 2024 through July 31, 2025, inclusive (“the Class Period”). Investors have until September 26, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Sable Offshore Corp.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Sable Offshore Corp. (“Sable” or the “Company”) (NYSE:SOC) securities during the period of May 19, 2025 to June 3, 2025, inclusive (“the Class Period”). Investors have until September 26, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name The J.M. Smucker Company
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against The J.M. Smucker Company (“Smucker” or the “Company”) (NYSE:SJM). The investigation concerns whether Smucker and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Barnes & Noble Education, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Barnes & Noble Education, Inc. (“Barnes & Noble” or the “Company”) (NYSE: BNED). The investigation concerns whether Barnes and Noble and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Centene Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Centene Corporation (“Centene” or the “Company”) (NYSE:CNC) securities during the period of December 12, 2024 through June 30, 2025, inclusive (“the Class Period”). Investors have until September 8, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Fiserv, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Fiserv, Inc. (“Fiserv” or the “Company”) (NYSE:FI) securities during the period of July 24, 2024 through July 22, 2025, inclusive (“the Class Period”). Investors have until September 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Flywire Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of California on behalf of those who acquired Flywire Corporation (“Flywire” or the “Company”) (NASDAQ:FLYW) securities during the period of February 28, 2024 and February 25, 2025, inclusive (“the Class Period”). Investors have until September 23, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Luminar Technologies, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Middle District of Florida on behalf of those who acquired Luminar Technologies, Inc. (“Luminar Technologies” or the “Company”) (NASDAQ:LAZRI) securities during the period of March 20, 2025 through May 14, 2025, inclusive (“the Class Period”). Investors have until September 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Replimune Group, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of those who acquired Replimune Group, Inc. (“Replimune” or the “Company”) (NASDAQ:REPL) securities during the period of November 22, 2024 through July 21, 2025, inclusive (“the Class Period”). Investors have until September 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name RxSight, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired RxSight, Inc. (“RxSight” or the “Company”) (NASDAQ:RXST) securities during the period of November 7, 2024 through July 8, 2025, inclusive (“the Class Period”). Investors have until September 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Easterly ROCMuni High Income Municipal Bond Fund f/k/a Principal Street High Income Municipal Fund (“Easterly ROC” or the “Company”) (NYSE: RMHIX, RMHVX, RMJAX) securities during the period of July 29, 2022 and June 12, 2025, inclusive (“the Class Period”). Investors have until September 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Alto Neuroscience, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Norhtern District of California on behalf of those who acquired Alto Neuroscience, Inc. (“Alto Neuroscience” or the “Company”) (NYSE:ANRO) securities during the period of January 31, 2024 and October 22, 2024, inclusive (“the Class Period”). Investors have until September 19, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Capricor Therapeutics, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of those who acquired Capricor Therapeutics, Inc. (“Capricor” or the “Company”) (NASDAQ:CAPR) securities during the period of, inclusive (“the Class Period”). Investors have until September 15, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Neogen Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of Michigan on behalf of those who acquired Neogen Corporation (“Neogen” or the “Company”) (NASDAQ:NEOG) securities during the period of January 25, 2023 to June 3, 2025, inclusive (“the Class Period”). Investors have until September 16, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Encompass Health Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Encompass Health Corporation (“Encompass Health” or the “Company”) (NYSE:EHC). The investigation concerns whether Encompass Health and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Biohaven Ltd.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Connecticut on behalf of those who acquired Biohaven Ltd. (“Biohaven” or the “Company”) (NYSE:BHVN) securities during the period of March 24, 2023 through May 14, 2025, inclusive (“the Class Period”). Investors have until September 12, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of those who acquired XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP (“XPLR” or the “Company”) (NASDAQ:XIFR) securities during the period of September 27, 2023 and January 27, 2025, inclusive (“the Class Period”). Investors have until September 8, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name iRobot Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired iRobot Corporation (“iRobot” or the “Company”) (NASDAQ:IRBT) securities during the period of January 29, 2024 through March 11, 2025, inclusive (“the Class Period”). Investors have until September 5, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Western Asset Management Company (US Core Bond Funds and Core Plus Bond Funds)
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Western District of Pennsylvania on behalf of those who acquired Western Asset Management Company (US Core Bond Funds and Core Plus Bond Funds) (“Western Asset Management” or the “Company”) (NASDAQ:LWCPX, WABAX, WABCX, WABRX, WACIX, WACPX, WACSX, WAPAX, WAPCX, WAPIX, WAPRX, WAPSX, WATFX) securities during the period of January 21, 2021 and October 31, 2023, inclusive (“the Class Period”). Investors have until September 2, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name KBR, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against KBR, Inc. (“KBR” or the “Company”) (NYSE:KBR). The investigation concerns whether KBR and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Hallador Energy Company
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Hallador Energy Company (“Hallador” or the “Company”) (NASDAQ:HNRG). The firm’s ongoing investigation concerns whether Hallador and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Semler Scientific Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Semler Scientific Inc. (“Semler” or the “Company”) (NASDAQ:SMLR). The investigation concerns whether Semler and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name 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.
- Name Aldeyra Therapeutics, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) (NASDAQ:ALDX). The investigation concerns whether Aldeyra and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name 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.
- Name Sezzle Inc.
- Type Securities
- Status Investigating
-
December 31, 2024, NEW YORK—(GLOBE NEWSWIRE)—The law firm of Kirby McInerney LLP is investigating potential claims against Sezzle Inc. (“Sezzle” or the “Company”) (NASDAQ:SEZL). The investigation concerns whether Sezzle and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name MediaAlpha, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against MediaAlpha, Inc. (“MediaAlpha” or the “Company”) (NYSE: MAX) The investigation concerns whether MediaAlpha and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Inspired Entertainment, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Inspired Entertainment, Inc. (“Inspired Entertainment” or the “Company”) (NYSE: INSE). The investigation concerns whether Inspired Entertainment and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
-
Name
CFTC v. Shak,
No. 14-cv-01632 (D.D.C.). - Type Commodities
- Status Pending
-
Representation of a defendant in a case brought by the CFTC under the Commodity Exchange Act’s newest provisions for violations of an administrative order in the gold futures market.
-
Name
In re Cattle Antitrust Litigation,
No. 19-cv-1222 (D. Minn.). - Type Commodities
- Status Pending
-
Court-appointed executive committee member and class counsel representing cattle producers and cattle futures traders in a lawsuit alleging that the “Big 4” meatpacking firms conspired to suppress prices for fed cattle and manipulated live cattle futures traded on the Chicago Mercantile Exchange.
- Name Napco Security Technologies, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Napco Security Technologies, Inc. (“Napco” or the “Company”) (NASDAQ:NSSC) securities during the period from February 5, 2024, through February 3, 2025 (“the Class Period”). Investors have until June 24, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name 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.
-
Name
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.
-
Name
In re JPMorgan Treasury Futures Spoofing Litigation,
No. 20-cv-03515 (S.D.N.Y.). - Type Antitrust, Commodities
- Status Settled
-
Lead counsel in an antitrust case alleging that J.P. Morgan unlawfully and intentionally manipulated U.S. Treasury Futures or Options on U.S. Treasury Futures traded on United States-based exchanges, including but not limited to the Chicago Mercantile Exchange, including its subsidiary the Chicago Board of Trade, during the Class Period 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.
-
Name
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.
-
Name
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.
-
Name
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.
-
Name
In re Foreign Exchange Benchmark Rates Antitrust Litigation,
No. 13-cv-07789 (S.D.N.Y.). - Type Antitrust, Commodities
- Status Settled
-
Special fiduciary representation for the exchange-based class for a putative class of participants who traded futures and options in the FX market. The case has already resulted in partial settlements of more than $2.3 billion.
-
Name
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.
-
Name
Rothstein v. GMAC Mortgage LLC,
No. 12-cv-03412 (S.D.N.Y.). - Type Consumer Fraud
- Status Settled
-
Rothstein v. GMAC Mortgage LLC, No. 12-cv-03412 (S.D.N.Y.). Lead counsel. $13 million settlement against GMAC Mortgage LLC in In re Residential Capital, LLC, No. 12-12020 (Bankr. S.D.N.Y. 2016).
-
Name
In re Hi-Crush Partners L.P. Securities Litigation,
No. 12-cv-08557 (S.D.N.Y.). - Type Securities
- Status Settled
-
In re Hi-Crush Partners L.P. Securities Litigation, No. 12-cv-08557 (S.D.N.Y. 2015). Lead counsel. $3.8 million settlement while class certification was pending.
-
Name
In re LIBOR-Based Financial Instruments Antitrust Litigation,
No. 11-md-02262 (S.D.N.Y.). - Type Antitrust, Commodities
- Status Settled
-
KM acted as court-appointed co-liaison counsel for all class actions in the multi-district litigation and co-lead counsel for exchange-based class in the high-profile In re Libor-Based Financial Instruments Antitrust Litigation and FTC Capital GMBH et al. v. Credit Suisse Group AG et al. alleging the fixing of prices of a benchmark interest rate. The case resulted in settlements totaling $190.45 million, which combined represent the largest recovery in a “futures-only” commodities class action litigation.
-
Name
In re Citigroup Inc Securities Litigation,
No. 07-cv-09901 (S.D.N.Y.). - Type Securities, Structured Finance
- Status Settled
-
Lead counsel for individual investor lead plaintiffs in this securities fraud class action relating to Citigroup’s exposure to losses associated with its creation or sponsorship of numerous collateralized debt obligations (“CDOs”). This case resulted in a settlement of $590 million for the class. The settlement was, at the time, the largest CDO-related settlement ever, as well as the largest settlement of a fraud-only action. A later filed SEC complaint concerning similar allegations settled for a small fraction of the class action settlement amount.
News
KM partners Daniel Hume, Tom Elrod, and associate Lauren Wands have filed an amicus brief in the United States Court of Appeals for the Eighth Circuit in support of the SEC's recently introduced climate disclosure regulations.
Newsday has published an article covering the results of a New York Department of Environmental Conservation (DEC) probe, initiated in 2021, concerning the conduct of Covanta, a waste incineration company, at its Brookhaven landfill in Westbury, Long Island between 2007 and 2013. The probe, which was initiated further to a case brought by KM whistleblower client Patrick Fahey and, later, a Newsday investigation of the alleged conduct, found that the company had indeed repeatedly violated environmental law.
Newsday has published an investigation, relying heavily on documents filed in a whistleblower lawsuit brought by KM-client and former Covanta maintenance employee Patrick Fahey against Covanta Hempstead, Long Island’s leading waste incinerator, which has been dumping ash at the Long Island’s Brookhaven landfill for years. As Newsday reports, for nearly a decade, the company couldn’t be certain that the ash they were dumping at Brookhaven landfill was nonhazardous and engaged in risky and imprecise practices.
Thomson Reuters’ Super Lawyers has recognized five KM attorneys as New York Metro Super Lawyers and four as Rising Stars.
The Second Circuit decision exempts manipulation of US futures exchanges from the Commodities Exchange Act—the main body of law governing such exchanges—provided the conduct is carried out from overseas locations. It poses a fundamental threat to the integrity of those markets, with far-reaching adverse economic consequences for American businesses and consumers.
Thomson Reuters’ Super Lawyers has recognized five KM attorneys as New York Metro Super Lawyers and five as Rising Stars.
The law firm of Kirby McInerney LLP is proud to announce that the Hon. Judge Paul A. Engelmayer of the U.S. District Court for the Southern District of New York has granted final approval of its $15.7 million settlement in In re JPMorgan Treasury Futures Spoofing Litig., No. 1:20-cv-03515 (S.D.N.Y.).
Kirby McInerney announces that its whistleblower client has been awarded nearly $200 million by the whistleblower program of the CFTC. Today’s award is the largest publicly announced single whistleblower award arising under the Dodd-Frank whistleblower reward programs (the CFTC and SEC) as well as under other whistleblower programs including the IRS and the federal and state false claims acts.
The exchange-based investor class, represented by attorneys at Kirby McInerney LLP and Lovell Stewart Halebian Jacobson LLP, won initial approval of a $187 million settlement with Deutsche Bank, JPMorgan and five other big banks in a complex, multidistrict case claiming that the banks rigged the London Interbank Offered Rate benchmark.
A Minnesota federal court ruled Wednesday that some of the country’s largest meatpacking companies, including Tyson and Cargill, will now face consolidated allegations of colluding to drive down prices of cattle used for beef production.
Up next on Judge Buchwald’s docket is the distribution agreement of $182 million worth of deals the exchange-based plaintiffs struck with Bank of America, Barclays, Citibank, Deutsche Bank, HSBC and JP Morgan.
Charles Schwab Corp. and investors in financial instruments tied to the London Interbank Offered Rate on Friday urged the Second Circuit to reinstate claims against a slew of banks over their alleged manipulation of the benchmark, arguing they have proper antitrust standing and that the litigation belongs in U.S. federal courts.
A Manhattan federal judge on Friday approved a $182.5 million settlement between JPMorgan Chase & Co., Citigroup and investors who accuse the two megabanks of rigging a key euro rate, signing off also on a roughly $36 million haul for plaintiffs’ firms that brought the antitrust class action.
Kirby McInerney Partner Mark Strauss is quoted in this article about the Third Circuit’s recent decision that banks can’t push clients out of FINRA arbitration.
A lawsuit that accused GMAC Mortgage of taking kickbacks and overcharging homeowners on force-placed insurance policies has survived a motion to dismiss. GMAC’s mortgage unit will have to face a class action brought by homeowners whose properties it serviced, a U.S. District Court judge for the Southern District of New York ruled Monday.
A New York federal judge on Monday upheld a racketeering class action targeting kickbacks Balboa Insurance Co. allegedly paid to GMAC Mortgage LLC for force-placing hazard insurance policies, saying the lender may have gouged borrowers when demanding reimbursement for coverage.