News - 2017

March 2017

Saxena White P.A. Announces Proposed $73 Million Settlement of Rayonier Inc. Securities Litigation

Saxena White is pleased to announce that on March 13, 2017, the parties reached an agreement in principle to settle the securities class action litigation pending in the United States District Court for the Middle District of Florida, In re Rayonier Inc. Securities Litigation, Case No. 3:14-cv-01395-TJC-JBT, against Rayonier and three former executive officers.

After litigating this case for almost two and a half years, Plaintiffs negotiated an outstanding $73 million settlement.  Saxena White is pleased to achieve such an impressive settlement for shareholders.  The proposed settlement is subject to completion of formal documentation and approval by the District Court following notice to all class members.

Febraury 2017

Court Grants Preliminary Approval of $32 Million Cash Settlement in In re Altisource Portfolio Solutions S.A. Securities Litigation

Saxena White P.A. served as Liaison Counsel in a securities fraud class action asserting violations of the federal securities laws against Altisource Portfolio Solutions S.A. and certain current and former senior executive officers and/or directors of Altisource.

After litigating this case for almost two and a half years, Plaintiffs negotiated a $32 million settlement—an outstanding result for the class. The Court preliminarily approved the settlement on February 10, 2017. A final fairness hearing has been set for May 30, 2017. The deadline for submission of claims is July 11, 2017. Additional information concerning this settlement can be found at http://www.altisourcesecuritieslitigation.com/.

January 2017

The Daily Business Review Profiles Saxena White: ’Not Concerned with Press:’ Saxena White Quietly Wins Big

On January 20, 2017, the Daily Business Review published an article highlighting the Firm’s active leadership roles in important, high-profile cases, while quietly flying “under the radar”. Putting press aside to provide superior representation in complex securities litigation, while assisting our clients in furtherance of their fiduciary obligations, “the firm sidestepped the publicity that typically follows multimillion-dollar litigation involving some of the nation’s largest public companies.”

The full article can be found here.

January 2017

Steven B. Singer Joins Saxena White and Announces Opening of New York Office

Steven B. Singer is the Director of Litigation at Saxena White. Prior to joining the Firm, Mr. Singer was employed for more than twenty years at Bernstein Litowitz Berger & Grossmann LLP, a well-known plaintiffs' firm, where he served as a senior partner and member of the firm's management committee.

During his career Mr. Singer has been the lead partner responsible for prosecuting many of the most significant and high-profile securities cases in the country, which collectively have recovered billions of dollars for investors. He led the litigation against Bank of America relating to its acquisition of Merrill Lynch, which resulted in a landmark settlement shortly before trial of $2.43 billion, one of the largest recoveries in history. Mr. Singer's work on that case was the subject of extensive media coverage, including numerous articles published in The New York Times. He also has substantial trial experience, and was one of the lead trial lawyers on the WorldCom Securities Litigation, which settled for more than $6 billion after a four-week jury trial.

In addition, Mr. Singer has been lead counsel in numerous other actions that have resulted in substantial settlements, including cases involving Citigroup Inc. ($730 million, representing the second largest recovery in a case brought on behalf of bond purchasers), Lucent Technologies ($675 million), Mills Corp. ($203 million), WellCare Health Plans ($200 million), Satyam Computer Services ($150 million), Biovail Corp. ($138 million), Bank of New York Mellon ($180 million) and JP Morgan Chase ($150 million).

Mr. Singer has been consistently recognized by industry observers for his legal excellence and achievements. He has been selected by Lawdragon magazine as one of the "500 Leading Lawyers in America," by Benchmark Plaintiff as a "litigation star", and by the Legal 500 US guide as one of the "Leading Lawyers" in securities litigation -- one of only seven plaintiffs' attorneys so recognized.

Mr. Singer graduated cum laude from Duke University in 1988, and from Northwestern University School of Law in 1991. He is an active member of the New York State and American Bar Associations.

January 2017

Saxena White P.A. Appointed Co-Lead Counsel in Wells Fargo & Company Shareholder Derivative Litigation

Saxena White P.A. is pleased to announce that, on January 12, 2017, the United States District Court for the Northern District of California appointed the Fire and Police Pension Association of Colorado and The City of Birmingham Retirement and Relief System as Co-Lead Plaintiffs in the Wells Fargo & Company Consolidated Derivative Litigation and appointed Saxena White and Lieff Cabraser Heimann & Bernstein, LLP as Co-Lead Counsel.

In its Order, the Court specifically held that the Lead Plaintiffs had fully demonstrated that they would adequately protect the interests of Wells Fargo and its shareholders, stating that Lead Plaintiffs and their counsel “have demonstrated a superior ability to move this litigation forward effectively and efficiently, and to otherwise best serve the interests of the plaintiffs.” The Court also noted counsel’s “key role” in this landmark derivative case, “which has made the outset of this litigation more efficient for both the parties and this Court.”

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