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Securities Litigation

Lockridge Grindal Nauen P.L.L.P. has recovered millions of dollars for investors in lawsuits nationwide. The firm is well known for its aggressive, fast-paced securities litigation practice. Efficient case administration and a comprehensive, in-depth knowledge of the federal securities laws enables us to effectively represent investors - both individuals and institutions.

Services

Our securities litigation team represents institutional investor clients throughout the country, including fire and police pension funds, teacher retirement systems and Taft-Hartley pension and health and welfare funds

Lockridge Grindal Nauen provides a free portfolio monitoring service to fund managers and trustees in order to assist them in fulfilling their fiduciary duties. We track portfolio trading and conduct in-depth investigations into portfolio losses to determine whether potential securities claims exist and whether funds should pursue further action.

To learn more about our securities litigation practice or our portfolio monitoring service, contact Karen Hanson Riebel or Gregg M. Fishbein.

Team

  • All
  • Attorneys
  • Paralegals

Current Investigations

Countrywide Financial Corporation

LGN filed a law suit against Countrywide Financial Corporation alleging possible securities fraud. The Complaint alleges that during the Class Period (March 12, 2004 to March 7, 2008, inclusive), Defendants made false and misleading statements regarding the changing quality of the Company's mortgage loan portfolio.

Boston Scientific Corporation

LGN has filed a lawsuit against Boston Scientific alleging that material information Individual Defendants withheld from the marketplace caused the market price of the Company's securities to be artificially inflated during the Class Period (March 31, 2003 to August 23, 2005).

Regions Morgan Keegan

LGN has filed a lawsuit on behalf of investors who purchased shares of the Regions Morgan Keegan Select Intermediate Bond Fund and Regions Morgan Keegan Select High Income Fund from December 6, 2004 through October 3, 2007 (the "Class Period"). The Complaint alleges that the Funds and defendants misrepresented or failed to disclose certain material facts related to investments in the Regions Morgan Keegan Select Intermediate Bond Fund and the High Income Fund.

Harris Stratex Networks, Inc.

LGN filed a lawsuit on behalf of all persons and entities that acquired the common stock of Harris Stratex between January 29, 2007 and July 30, 2009, inclusive (the "Class Period"), including former shareholders of Stratex Networks, Inc., who acquired shares of Harris Stratex pursuant or traceable to the Company's Registration Statement and Prospectus that became effective on January 8, 2007.

Gander Mountain Company

LGN filed a stockholder class action on behalf of the minority holders of Gander common stock against Gander and certain of its officers and directors arising out of Defendants' efforts to take Gander private via an unfair and inadequate process.

NightHawk Radiology Holdings, Inc.

This lawsuit is a class action on behalf of purchasers of the common stock of NightHawk between April 10, 2007 and February 13, 2008. The Complaint alleges that NightHawk failed to disclose material adverse facts about its true financial condition, business and prospects.

Portfolio Monitoring for Institutional Investors

LGN Market Monitor

The LGN Market Monitor® is a complimentary report containing important information on potential and current securities fraud litigation provided to LGN's institutional investor clients. The report includes:

  • Regular updates on fund portfolio losses.
  • Information on LGN's investigation into potential claims involving fund losses.
  • Individual recommendations based upon results of claim investigations.
  • News alerts regarding new securities cases filed.
  • Status updates on current securities fraud cases.
  • Updates on settlements involving securities in fund's portfolios, including advice and assistance in filing claims.
  • Securities Class Action News Updates.

Results

In Re Bristol-Myers Squibb Securities Litigation

Plaintiffs' counsel, including LGN, have obtained a $125 million settlement (subject to court approval) from Bristol-Myers Squibb in the securities class action which accused the drug maker of deceiving investors when it failed to properly disclose a patent deal for a generic version of its blood-thinning drug Plavix. LGN's Craig Davis worked extensively on the case with lead counsel for the plaintiff class, Bernstein Litowitz Berger & Grossmann LLP.

In Re Telxon Corp. Securities Litigation

The firm and its co-counsel recovered more than $40 million on behalf of shareholders in this suit filed in the Northern District of Ohio. The firm represented purchasers of the stock of Telxon Corporation who were misled into believing that the company was meeting its earnings projections and achieving increased earnings and profitability.

In Re Safety Kleen Corporation Securities Litigation

In this securities fraud action, LGN played a pivotal role in recovering $24.5 million for defrauded shareholders. The firm and its co-counsel settled this case, which involved Safety-Kleen stunning the market by announcing that its three most senior executive officers were being placed on administrative leave to permit the Company to conduct an "internal investigation" of its prior reported financial results, as well as to investigate the Company's accounting policies and practices following receipt of information by the Company's Board alleging possible accounting irregularities.

In Re Ikon Office Solutions Inc. Securities Litigation

In this securities class action, the firm recovered $111 million for purchasers of Ikon Office Solution securities whom we alleged were defrauded when defendants caused IKON to issue false and misleading statements with respect to the Company's transformation program designed to lower administrative costs and improve operating margins. The case settled on the eve of trial.

In Re USN Communications Securities Litigation

LGN played a pivotal role in this lawsuit that alleged violations of the federal securities laws by a bankrupt reseller of telecommunications services. The firm recovered $45 million for the company's defrauded stockholders.

In Re Piper Funds, Inc. Institutional Government Income Portfolio Litigation

LGN served as lead counsel in this case and recovered $70 million for investors in the Piper Jaffray Institutional Government Income Portfolio.