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.
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, Ninth, and Tenth Circuits
Super Lawyers, Top Rated Attorney - Securities Litigation, 2021-2023
Super Lawyers Rising Star, 2015-2020
Super Lawyers Rising Star, 2015-2020
Experience
Some of Mr. Elrod’s securities experience includes:
- 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. This litigation has resulted in partial settlements totaling approximately $187 million, which collectively represent the largest historical class-wide recovery for a “futures only” settlement class.
- 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 Maxeon Solar Technologies, 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 Northern District of California on behalf of those who acquired Maxeon Solar Technologies, Ltd. (“Maxeon” or the “Company”) (NASDAQ: MAXN) securities during the period of November 15, 2023 through May 29, 2024, inclusive (“the Class Period”). Investors have until August 26, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Owens & Minor, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Owens & Minor, Inc. (“OMI” or the “Company”) (NYSE: OMI). The investigation concerns whether OMI and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Futurefuel 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 Eastern District of Missouri on behalf of those who acquired Future Fuel Corp. (“Future Fuel” or the “Company”) (NYSE: FF) securities during the period of August 10, 2023 and May 10, 2024, inclusive (“the Class Period”). Investors have until August 23, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Toyota Motor 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 Central District of California on behalf of those who acquired Toyota Motor Corporation (“Toyota” or the “Company”) (NYSE: TM) securities during the period of June 23, 2022 to June 2, 2024, inclusive (“the Class Period”). Investors have until August 23, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Gritstone bio, 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 Northern District of California on behalf of those who acquired Gritstone bio, Inc. Company (“Gritstone” or the “Company”) (NASDAQ: GRTS) securities during the period of March 9, 2023 and February 29, 2024, inclusive (“the Class Period”). Investors have until August 6, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name 2U, 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 2U, Inc. (“2U” or the “Company”) (NASDAQ: TWOU) securities during the period of February 9, 2022 through February 12, 2024, inclusive (“the Class Period”). Investors have until August 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Lamb Weston Holdings, 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 Idaho on behalf of those who acquired Lamb Weston Holdings, Inc. (“Lamb Weston” or the “Company”) (NYSE: LW) securities during the period of July 25, 2023 through April 3, 2024, inclusive (“the Class Period”). Investors have until August 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Phreesia, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Phreesia, Inc. (“Phreesia” or the “Company”) (NYSE: PHR). The investigation concerns whether Phreesia and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Teradata 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 Southern District of Califorinia on behalf of those who acquired Teradata Corporation (“Teradata” or the “Company”) (NYSE: TDC) securities during the period of February 13, 2023 and February 12, 2024, inclusive (“the Class Period”). Investors have until August 13, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Scotts Miracle-Gro Company
- 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 Ohio on behalf of those who acquired The Scotts Miracle-Gro Company (“Scotts Miracle-Gro” or the “Company”) (NYSE: SMG) securities during the period of November 3, 2021 and August 1, 2023, inclusive (“the Class Period”). Investors have until August 2, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Roblox 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 Northern District of California on behalf of those who acquired Roblox Corp. (“Roblox” or the “Company”) (NYSE: RBLX) securities during the period of November 15, 2023 and May 8, 2024, inclusive (“the Class Period”). Investors have until August 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name FAT Brands 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 FAT Brands Inc. (“FAT Brands” or the “Company”) (NASDAQ: FAT) securities during the period of March 24, 2022 and May 10, 2022, inclusive (“the Class Period”). Investors have until August 6, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Verastem, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Verastem, Inc. (“Verastem” or the “Company”) (NASDAQ: VSTM). The investigation concerns whether Verastem and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Marinus Pharmaceuticals, 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 Pennsylvania on behalf of those who acquired Marinus Pharmaceuticals, Inc. (“Marinus" or the “Company”) (NASDAQ: MRNS) securities during the period of March 27, 2021 through May 7, 2024, inclusive (“the Class Period”). Investors have until August 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Humana 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 Delaware on behalf of those who acquired Humana Inc. (“Humana” or the “Company”) (NYSE: HUM) securities during the period of November 4, 2022 through April 11, 2024, inclusive (“the Class Period”). Investors have until August 2, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Hertz Global Holdings, 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 Hertz Global Holdings, Inc. (“Hertz” or the “Company”) (NASDAQ: HTZ) securities during the period of April 27, 2023 through April 24, 2024, inclusive (“the Class Period”). Investors have until July 30, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name NWTN Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against NWTN Inc. (“NWTN” or the “Company”) (NASDAQ: NWTN). The investigation concerns whether NWTN and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name The Toro Company
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against The Toro Company (“Toro” or the “Company”) (NYSE: TTC). The investigation concerns whether Toro and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name UiPath Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against UiPath Inc. (“UiPath” or the “Company”) (NYSE: PATH). The investigation concerns whether UiPath and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name United States Steel Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against United States Steel Corporation (“US Steel” or the “Company”) (NYSE: X). The investigation concerns whether US Steel and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Vestis 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 Middle District of Tennessee on behalf of those who acquired Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS) securities during the period of October 2, 2023 through May 1, 2024, inclusive (“the Class Period”). Investors have until July 16, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.'
- Name Charge Enterprises, 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 Charge Enterprises, Inc. (“Charge" or the “Company”) (OTC: CRGEQ) securities during the period of December 15, 2021 through February 28, 2024, inclusive (“the Class Period”). Investors have until July 29, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Enphase Energy, 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 Northern District of California on behalf of those who acquired Enphase Energy, Inc. (“Enphase” or the “Company”) (NASDAQ: ENPH) securities during the period of February 7, 2023 through April 25, 2023, inclusive (“the Class Period”). Investors have until July 29, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name CAE, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against CAE, Inc. (“CAE” or the “Company”) (NYSE: CAE). The investigation concerns whether CAE and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Ecopetrol S.A.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Ecopetrol S.A. (“Ecopetrol” or the “Company”) (NYSE: EC). The investigation concerns whether Ecopetrol and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Fastly, 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 Northern District of California on behalf of those who acquired Fastly, Inc. (“Fastly” or the “Company”) (NYSE: FSLY) securities during the period of February 15, 2024 to May 1, 2024, inclusive (“the Class Period”). Investors have until July 23, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Direct Digital Holdings, 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 Texas on behalf of those who acquired Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NASDAQ: DRCT) securities during the period of April 17, 2023 to March 25, 2024, inclusive (“the Class Period”). Investors have until July 22, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Biogen, 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 Colorado on behalf of those who acquired Biogen, Inc (“Biogen” or the “Company”) (NASDAQ: BIIB) securities during the period of February 3, 2022 through February 13, 2024, inclusive (“the Class Period”). Investors have until July 22, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Cambium Networks 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 Cambium Networks Corporation (“Cambium” or the “Company”) (NASDAQ: CMBM) securities during the period of May 8, 2023 through January 18, 2024, inclusive (“the Class Period”). Investors have until July 22, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Teladoc Health, 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 Teladoc Health, Inc. (“Teladoc” or the “Company”) (NYSE: TDOC) securities during the period of November 2, 2022 through February 20, 2024, inclusive (“the Class Period”). Investors have until July 16, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Grocery Outlet Holding Corp.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) (NASDAQ: GO). The investigation concerns whether Grocery Outlet and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Treace Medical Concepts, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NASDAQ: TMCI). The investigation concerns whether Treace and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Inotiv, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Inotiv, Inc. (“Inotiv” or the “Company”) (NASDAQ: NOTV). The investigation concerns whether Inotiv and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name HireRight Holdings 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 Middle District of Tennessee on behalf of those who acquired HireRight Holdings Corporation (“HireRight” or the “Company”) (NYSE: HRT) securities during the period of October 26, 2021 through April 1, 2024, inclusive (“the Class Period”). Investors have until June 3, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.''
- Name Inari Medical, 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 Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI) securities during the period of February 24, 2022 through February 28, 2024, inclusive (“the Class Period”). Investors have until July 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Masimo Corporation
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Masimo Corporation (“Masimo” or the “Company”) (NASDAQ: MASI). The investigation concerns whether Masimo and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Sprout Social, 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 Northern District of Illinois on behalf of those who acquired Sprout Social, Inc. (“Sprout Social” or the “Company”) (NASDAQ: SPT) securities during the period of November 2, 2023 through May 2, 2024, inclusive (“the Class Period”). Investors have until July 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.''
- Name UnitedHealth Group Incorporated
- 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 Minnesota on behalf of those who acquired UnitedHealth Group Corporation (“UnitedHealth” or the “Company”) (NASDAQ: UNH) securities during the period of March 14, 2022 through February 27, 2024, inclusive (“the Class Period”). Investors have until July 15, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Li Auto 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 Li Auto Inc. (“Li Auto” or the “Company”) (NASDAQ: LI) securities during the period from February 26, 2024 through March 20, 2024, inclusive (“the Class Period”). Investors have until July 9, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name MacroGenics, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against MacroGenics, Inc. (“MacroGenics” or the “Company”) (NASDAQ: MGNX). The investigation concerns whether MacroGenics and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name DoubleVerify Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against DoubleVerify, Inc (“DoubleVerify” or the “Company”) (NYSE: DV). The investigation concerns whether DoubleVerify 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 December 1, 2023 through April 26, 2024, inclusive (“the Class Period”). Investors have until July 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Arhaus, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Arhaus, Inc. (“Arhaus” or the “Company”) (NASDAQ: ARHS). The investigation concerns whether Arhaus and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name AXT, 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 AXT, Inc. (“AXT” or the “Company”) (NASDAQ: AXTI) securities during the period of March 24, 2021 through April 3, 2024 inclusive (“the Class Period”). Investors have until July 5, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Perion Network 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 Southern District of New York on behalf of those who acquired Perion Network Ltd. (“Perion” or the “Company”) (NASDAQ: PERI) securities during the period of February 9, 2021 through April 5, 2024, inclusive (“the Class Period”). Investors have until June 17, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Equinix, 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 Northern District of California on behalf of those who acquired Equinix, Inc. (“Equinix” or the “Company”) (NASDAQ: EQIX) securities during the period of May 3, 2019 through March 24, 2024, inclusive (“the Class Period”). Investors have until July 1, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Jabil Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Jabil Inc. (“Jabil” or the “Company”) (NYSE: JBL). The investigation concerns whether Jabil and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
- Name Globe Life, 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 Texas on behalf of those who acquired Globe Life, Inc. (“Globe Life” or the “Company”) (NYSE: GL) securities during the period of May 8, 2019 through April 10, 2019 inclusive (“the Class Period”). Investors have until July 1, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Harbor Diversified, 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 Wisconsin on behalf of those who acquired Harbor Diversified, Inc. (“Harbor Diversified” or the “Company”) (OTC: HRBR) securities during the period of May 10, 2022 and March 29, 2024, inclusive (“the Class Period”). Investors have until July 8, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
- Name Regeneron Pharmaceuticals, Inc.
- Type Securities
- Status Investigating
-
The law firm of Kirby McInerney LLP is investigating potential claims against Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”) (NASDAQ: REGN). The investigation concerns whether Regeneron 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
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.
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Name
Kokareva v. Bristow Group Inc.,
No. 19-cv-00509 (S.D. Tex.). - Type Securities
- Status Settled
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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.
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Name
In re Foreign Exchange Benchmark Rates Antitrust Litigation,
No. 13-cv-07789 (S.D.N.Y.). - Type Antitrust, Commodities
- Status Settled
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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.
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Name
In re Resonant Inc. Securities Litigation,
No. 15-cv-01970 (C.D. Cal.). - Type Securities
- Status Settled
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In re Resonant Inc. Securities Litigation, No. 15-cv-01970 (C.D. Cal. 2017). Co-lead counsel. $2.75 million settlement.
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Name
Rothstein v. GMAC Mortgage LLC,
No. 12-cv-03412 (S.D.N.Y.). - Type Consumer Fraud
- Status Settled
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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).
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Name
In re Hi-Crush Partners L.P. Securities Litigation,
No. 12-cv-08557 (S.D.N.Y.). - Type Securities
- Status Settled
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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.
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Name
In re LIBOR-Based Financial Instruments Antitrust Litigation,
No. 11-md-02262 (S.D.N.Y.). - Type Antitrust, Commodities
- Status Settled
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KM filed the first LIBOR manipulation lawsuit on behalf of investors and currently serves as court-appointed co-lead counsel for the exchange-based class alleging the fixing of prices of a benchmark interest rate. The case has resulted in partial settlements of $187 million, which combined represent the largest recovery in a “futures-only” commodities class action litigation.
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Name
In re Citigroup Inc Securities Litigation,
No. 07-cv-09901 (S.D.N.Y.). - Type Securities, Structured Finance
- Status Settled
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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
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.
