Securities
We have represented individuals, companies, pension funds, hospitals, cities, and states in securities litigation and arbitration. While many of our cases arise in Louisiana, we frequently handle cases across the country, and we are often consulted by other lawyers who do not regularly handle securities litigation.
Previous plaintiffs include investors in securities who have lost money on misrepresented or fraudulent investments, as well as issuers of securities who have been misadvised to issue manipulated or fraudulent products, such as auction rate securities. Most recently, we represented the Official Stanford Investors Committee and individual Stanford investors with claimed damages exceeding $5 billion, resulting from the infamous Stanford International Bank certificate of deposit Ponzi scheme. Settlements totaling $1.6 billion were reached with five bank defendants on the eve of trial.
We also have represented hundreds of individual investors against their brokers or investment advisors, recovering tens of millions of dollars for these clients. The firm is currently lead counsel prosecuting securities fraud claims against Raymond James, as underwriter of over $330 million of public finance municipal bonds used to construct a wood pellet manufacturing facility in Urania, La.
Representative Experience
- Represents the Official Stanford Investors Committee and individual Stanford investors with claimed damages exceeding $5 billion, resulting from the infamous Stanford International Bank certificate of deposit Ponzi scheme; settlements totaling $1.6 billion were reached with five bank defendants on the eve of trial.
- Represented hundreds of individual investors against their brokers or investment advisors, recovering tens of millions of dollars for these clients.
- Representation of an investor in an arbitration against UBS Financial Securities that resulted in a $1.1 million award.
- Representation of a group of investors in an arbitration against Securities America that resulted in a $26 million award, one of the largest in FINRA history, that included punitive damages.
- Representation of Baylor College of Medicine in an arbitration against its bond underwriter arising from Baylor’s issuance of $525 million of auction rate securities, obtaining a favorable settlement following a two-week arbitration.
- Representation of the Louisiana Stadium & Exposition District in litigation over its issuance of $238 million of auction rate securities with accompanying interest rate swaps to finance post-Katrina reconstruction of the Superdome, defeating a motion to dismiss in the Southern District of New York and obtaining a favorable settlement.
- Representation of Lake Hospital System, Inc. in an arbitration against its bond underwriter arising from Lake’s issuance of $155.5 million of auction rate securities, obtaining a favorable settlement.
- Representation of numerous individual investors in FINRA arbitrations who have suffered losses as a result of fraud or malfeasance by their advisors or brokers.
