News - 2018
Court Approves Historic Wilmington Trust Settlement
On November 19, 2018, the Court approved the $210 million settlement in In re Wilmington Trust Securities Litigation. The settlement – which is the culmination of eight years of hard-fought litigation – represents a recovery of nearly 40% of maximum recoverable damages, an amount that towers over the median 5% recovery. The settlement also ranks among the top-10 securities fraud settlements in the Third Circuit, and among the top 5% of securities fraud settlements since the PSRLA was enacted in 1995. In approving the settlement, the Court praised the “legal prowess” exhibited by Saxena White’s “highly experienced attorneys.”
Saxena White Awarded U.S. News Tier 1 “2019 Best Law Firm” in Securities Litigation
After a rigorous evaluation process that included a collection of peer reviews and attorney information, Saxena White was awarded The U.S. News – Best Lawyers® "Best Law Firms" of 2019. Moreover, Saxena White received Tier 1 recognition in the Securities Litigation field. This selection came from a pool of over 13,000 law firms nationwide. According to U.S. News, “Firms included in the 2019 "Best Law Firms" list are recognized for professional excellence with persistently impressive ratings from clients and peers. Achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise.”
The Best Lawyers in America© Recognizes Maya Saxena for the Fourth Year in a Row
Maya Saxena has been selected by her peers for the fourth year in a row for inclusion in The Best Lawyers in America© 2019 edition as a leading lawyer in the field of securities litigation. Recognition in Best Lawyers is a significant honor, and is widely regarded by both clients and legal professionals. Best Lawyers has more than three decades of publications that have earned the respect of the profession, media and the public.
Saxena White Wins Motion to Dismiss Against Novo Nordisk A/S
On August 16, 2018, Saxena White secured a major victory with an important decision issued by the New Jersey District Court in In Re Novo Nordisk Securities Litigation C.A. No. 3:17-cv-00209. In a 20-page opinion, Honorable Brian R. Martinotti denied Defendants’ motion to dismiss in its entirety.
The Court found that Saxena White properly alleged that Novo Nordisk and its senior executives knowingly and falsely attributed the Company’s growth to the efficacy of its products rather than undisclosed rebates to ensure that its drugs were placed on preferred formularies. The Court further noted that not only were multiple former employees able to corroborate the Defendants’ knowledge of Novo Nordisk’s sales practices, but that the Defendants were also financially incentivized to engage in this fraudulent behavior.
The case is now in the discovery phase.
The Florida Super Lawyers Magazine Recognizes Maya Saxena for the Eighth Year in a Row
Maya Saxena has been selected by her peers and the Super Lawyer research team for the eight year in a row for inclusion in The Florida Super Lawyers Magazine 2018 edition as a leading lawyer in the field of securities litigation. this honor highlights peer recognition and excellence for each field of law.
Lester Hooker, Brandon Grzandziel, Adam Warden, Kathryn Weidner and Dianne Anderson Have Been Recognized By The Florida Super Lawyers Magazine as 2018 Rising Stars
All five of these attorneys were recently recognized in the 2018 edition of Super Lawyers for securities litigation. Nominated by fellow attorneys and then thoroughly examined by the Super Lawyer research team, this honor highlights peer recognition and excellence for each field of law.
The Florida Super Lawyers Magazine can be viewed here.
Saxena White Welcomes Sara M. DiLeo
Sara DiLeo has extensive experience in federal securities class action lawsuits, derivative litigation and complex commercial litigation in both federal and state courts. She is currently a member of the teams prosecuting In re Wells Fargo & Company Shareholder Litigation, In re TrueCar, Inc. and City of Birmingham Firemen’s and Policemen’s Supplemental Pension System v. Credit Suisse Group AG, et al. Before joining Saxena White, Ms. DiLeo practiced securities litigation for nine years at a top-ranked global law firm, Skadden, Arps, Slate, Meagher & Flom LLP.
Ms. DiLeo graduated from New York University’s College of Arts & Sciences program in 2003, where she received a Bachelor of Arts degree with a double major in Political Science and Psychology. She received her Juris Doctor degree from Fordham University School of Law in 2008. While attending law school, Ms. DiLeo was an Articles Editor for the Fordham Urban Law Journal and interned for the Hon. Barbara Jones in the United States District Court for the Southern District of New York.
Ms. DiLeo is a member of the New York Bar.
Saxena White P.A. has been certified as a Minority Business Enterprise (MBE) certification with the Florida State Minority Supplier Development Council
We are pleased to announce that in addition to being nationally certified as a Women Business Enterprise (WBE), Saxena White is now certified as a Minority Business Enterprise (MBE). With both certifications, Saxena White stands out as the only woman and minority owned securities litigation firm representing institutional investors in the nation. With this certification, the firm will continue to uphold and support diversity in the workplace.
Saxena White P.A. Appointed Lead Counsel in TrueCar, Inc. Securities Class Action
Saxena White P.A. is pleased to announce that, on June 27, 2018, the United States District Court for the Central District of California appointed the Oklahoma Police Pension and Retirement System as Lead Plaintiff and Saxena White as Lead Counsel in the securities fraud class action against TrueCar, Inc. The action alleges that TrueCar and certain of its executives defrauded the investing public by failing to disclose that USAA, TrueCar’s largest affinity partner, changed its website linking TrueCar’s car buying service, dramatically reducing TrueCar’s web traffic and therefore its revenues. In appointing Saxena White as Lead Counsel, the court’s order stated that “Saxena White has previously litigated securities fraud class actions and other complex litigations, and has won substantial recoveries for investors.”
Saxena White Welcomes William Forgione
Prior to joining Saxena White, William Forgione served as a senior legal executive with Teachers Insurance and Annuity Association("TIAA") and its subsidiaries for over 25 years. While at TIAA, he held a variety of leadership positions, including as Executive Vice President and General Counsel with TIAA Global Asset Management and Nuveen, a leading financial services group of companies that provides investment advice and portfolio management through TIAA and numerous investment advisors. He oversaw the legal, compliance and corporate governance aspects associated with the organization’s $900 billion investment portfolios and asset management businesses, including TIAA’s general account, various separate accounts, registered and unregistered funds and institutional investment mandates.
After graduating summa cum laude from Binghamton University with a B.S. in Accounting, Mr. Forgione received his J.D. Degree from Boston University. Among many industry associations, he has served as President and a member of the Board of Trustees of the Association of Life Insurance Counsel, President and Trustee of the American College of Investment Counsel and Chairman of the Investment Committee of the Life Insurance Council of New York. Mr. Forgione has spoken at many industry conferences and seminars and taught undergraduate and graduate courses in Accounting and Law.
See his full bio here!
Saxena White Reaches a $210 Million Settlement for Shareholders in Wilmington Trust Class Action
Having achieved close to a 40% recovery on behalf of the class, without the additional risk of a trial, Saxena White is pleased to announce we have reached a $210 Million settlement for shareholders in the Wilmington Trust Class Action. The lawsuit alleges, according to court documents, that the bank fraudulently concealed billions of dollars in bad loans. After 8 years of work and countless hours of discovery, our team of attorneys are very happy with the outcome of this settlement and the recoverable damages we were able to secure, not only for our clients, but for all effected shareholders.
Saxena White Welcomes Doug McKeige
Douglas McKeige, Director at Saxena White, brings unparalleled experience investigating, commencing and prosecuting meritorious securities fraud and corporate governance cases to Saxena White. Mr. McKeige was co-managing partner of Bernstein Litowitz Berger & Grossmann, a well-known plaintiffs' firm, for many years. During his time at that firm, he spearheaded the firm's institutional investor practice and developed and led its case starting department. Utilizing his extensive knowledge of the securities markets, Mr. McKeige counseled pension funds, hedge funds, private equity firms and, most importantly, hardworking men and women saving for their retirement, on potential claims and avenues for case prosecution. Under Mr. McKeige's supervision, the firm successfully commenced and prosecuted hundreds of cases in state and federal courts throughout the country, and recovered more than $12 billion on behalf of defrauded investors, including cases involving Worldcom ($6.2 billion), Nortel Networks ($2.45 billion), Freddie Mac ($410 million), Bristol-Myers Squibb ($300 million) and Mills Corp. ($203 million).
Mr. McKeige combines at Saxena White his more than two decades of legal experience with years of knowledge as a hedge fund Managing Director, during which time he helped build two multi-billion dollar hedge funds. As a result of his hedge fund experience, Mr. McKeige has extensive experience with macroeconomic themes, company-specific opportunities and trade implementation strategies across all asset classes (equities, fixed income, foreign exchange and commodities), and with using derivatives across all major geographies. His unique perspective on the workings of the financial markets provides Saxena White's institutional clients with valuable information when considering strategies for recovering investment losses.
Mr. McKeige earned his B.A. in Economics from Tufts University, cum laude, and his J.D. from Tulane Law School, magna cum laude, Order of the Coif. Mr. McKeige was Articles Editor of the Tulane Law Review and is admitted to the Bar of the State of New York.
Saxena White P.A. Files Securities Fraud Class Action Against Patterson Companies, Inc.
Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court of Minnesota against Patterson Companies, Inc. (“Patterson” or the “Company”) (NASDAQ: PDCO) on behalf of investors who purchased or otherwise acquired the common stock of the Company between June 26, 2015 and February 28, 2018, inclusive (the “Class Period”).
Patterson is one of the nation’s only full-service distributors of dental products. The Company distributes its products mainly through two subsidiaries—Patterson Dental and Patterson Animal Health.
The Complaint asserts claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
For more information on this case, please visit the Case Details.
Saxena White P.A. Appointed Co-Lead Counsel in Credit Suisse Group AG Securities Class Action
Saxena White P.A. is pleased to announce that, on March 19, 2018, the United States District Court for the Southern District of New York appointed the City of Birmingham Retirement and Relief System, Teamsters Local 456 Annuity Fund, Teamsters Local 456 Pension Fund, Teamsters Local 710 Pension Fund and Westchester Putnam Counties Heavy & Highway Laborers Local 60 Benefit Funds as Co-Lead Plaintiffs in the Credit Suisse Group AG case and appointed Saxena White as Co-Lead Counsel.
Saxena White Awarded U.S. News Tier 1 “2018 Best Law Firm” in Securities Litigation
After a rigorous evaluation process that included a collection of peer reviews and attorney information, Saxena White was awarded The U.S. News – Best Lawyers® "Best Law Firms" of 2018. Moreover, Saxena White received Tier 1 recognition in the Securities Litigation field. This selection came from a pool of over 13,000 law firms nationwide. According to U.S. News, “Firms included in the 2018 "Best Law Firms" list are recognized for professional excellence with persistently impressive ratings from clients and peers. Achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise.”
Kathryn Weidner and Adam Warden Recognized by South Florida Legal Guide as 2018 Top Up and Comers
Kathryn Weidner and Adam Warden were recently recognized in the 2018 edition of South Florida Legal Guide™ for Securities Litigation. Chosen by fellow attorneys across South Florida, this honor highlights peer recognition and excellence for each field of law.
The South Florida Legal Guide can be viewed at http://sflegalguide.com.