|Company||Lead Plaintiff Deadline|
|Armstrong Flooring, Inc.||January 14, 2020|
|Mohawk Industries, Inc.||March 3, 2020|
Experienced, Results-Driven Securities Class Actions Attorneys
Do you have a question about a securities lawsuit, even if one has not been filed yet, that you want to discuss with us? Email us at email@example.com and one of our senior attorneys will immediately respond to you, no later than 12 hours after your inquiry. We will provide you with an immediate consultation. And we will only collect a fee if we obtain a recovery on your behalf – we only get paid if you win.
The Thornton Law Firm’s securities litigation attorneys have significant experience bringing lawsuits against public companies on behalf of defrauded investors. The team is led by Partner Garrett J. Bradley and Of Counsel Guillaume Buell. They have one goal: aggressively pursuing recoveries on behalf of defrauded investors.
Lead Counsel Appointments In Ongoing Litigation
- In re Adient plc Securities Litigation, No. 18-cv-9116 (S.D.N.Y.)
- Tung v. Dycom Industries, Inc., et al., No. 18-cv-81448 (S.D. Fl.)
- Employees Retirement System of the Puerto Rico Electric Power Authority v. Conduent Inc., No. 19-cv-8237 (D.N.J.)
- In re BrightView Holdings, Inc. Sec. Litig., No. 2019-07222 (Montgomery County, Penn. Court of Common Pleas)
- Wayne County Employees’ Retirement System, et al. Mavenir, Inc., et al., Case No. 18-cv-1229-CFC (D. Del.)
Executive Committee Appointments in Ongoing Litigation:
- In re Cloudera, Inc., Securities Litigation, Lead Case No. 19CV348674 (California Superior Court, County of Santa Clara)
- In re Livent Corp. Securities Litigation, Civil Action No. 190501229 (Court of Common Pleas, Philadelphia County)
Plaintiffs’ Counsel In Ongoing Litigation
- Plymouth Cty Ret. Sys. Impinj, Inc., et al., No. 650629/2019 (Supreme Court of New York, County of New York)
- Iron Workers Dist. C. of N.E. Pension Fund Veeco Instr., et al., Case No. 18CV332644 (California Superior Court, County of Santa Clara) (consolidated into Wolther v. Maheshwari, et al., Case No. 18CV329690 (Lead Case))
- Hook v. Casa Systems, Inc., et al., Case No. 654548/2019 (Supreme Court of New York, New York County, Commercial Division)
Securities and Class Action Leadership Team
Garrett Bradley has years of experience helping institutional investors, public pension funds, and individual investors recover losses attributable to corporate fraud.
A former state prosecutor, Garrett has been involved in hundreds of securities fraud class action lawsuits that have, in aggregate, recouped hundreds of millions of dollars for investors. Garrett’s past and present clients include some of the country’s largest public pension funds and institutional investors. Garrett has been named one of the Top 100 Trial Lawyers in Massachusetts by the American Trial Lawyers Association and is a member of Million Dollar Advocates Forum. Garrett also serves as the Managing Partner of the Thornton Law Firm. Garrett is a graduate of BC High, Boston College and Boston College Law School.
Guillaume Buell is Of Counsel to the Firm and principally litigates securities and consumer fraud class actions. Mr. Buell’s securities practice assists institutional investors and individuals in recovering their investment losses caused by violations of the state and federal securities laws.
Mr. Buell has, in his career, advised leading pension funds and other institutional investors in the United States and Canada on issues related to corporate fraud in the U.S. securities markets. He has also advised foundations and endowment funds on monitoring the well-being of their investments. Mr. Buell was part of the team that secured a $48 million recovery in the securities fraud action against the nation’s largest pharmacy retail chain, CVS Caremark. He also played an integral role in the $9 million recovery secured for investors against Vocera Communications, the leading provider of mobile communication solutions. He has actively assisted in the prosecution of numerous securities class actions across the country.
Before joining the Thornton Law Firm, Mr. Buell was a senior associate with primary responsibility for litigating a portfolio of securities fraud class actions for Labaton Sucharow in New York City. Before joining Labaton, he was a litigation associate at Cahill Gordon & Reindel LLP, where he represented major corporations and their officers and directors in the financial, consumer, pharmaceutical, and insurance sectors in commercial and securities litigations and consumer class actions in state and federal courts, state and federal government investigations, and internal investigations.
Mr. Buell received his J.D. from Boston College Law School and was the recipient of the 2009 Boston College Law School Award for outstanding contributions to the law school community. He received his B.A., cum laude with departmental honors, from Brandeis University. He is an Eagle Scout and is fluent in French.
In addition to their experience managing complex securities class actions, the securities class action team has developed strong relationships with securities and class action law firms across the country. These relationships strengthen the firm’s ability to aggressively pursue recoveries on our clients’ behalf.
Thornton’s securities litigators have extensive experience litigating under the Securities Act of 1933 and the Securities Exchange Act of 1934. Congress passed both these laws to protect investors from securities fraud. The basic purpose of the 1934 and 1933 regulatory statutes is to protect investor confidence in the securities markets.
Recent Securities Class Action Experience
Thornton Law Firm Lawyers Experience In Resolved Litigation
- Medoff v. CVS Caremark Corporation, et al., Case No. 09-cv-554-JNL-PAS (United States District Court, District of Rhode Island) ($48 million settlement reached against the nation’s largest pharmacy retail chain)
- In re Vocera Communications, Inc. Securities Litigation, Master File No. 3:13-cv-03567 EMC (United States District Court, Northern District of California) ($9 million recovery secured for investors against a leading provider of mobile communication solutions)
- In re Nu Skin Enterprises, Inc. Securities Litigation, Case No. 2:14-cv-00033-JNP-BCW (United States District Court, District of Utah) ($47 million settlement reached in securities class action involving Nu Skin’s business conduct in China)
- In re Genworth Financial, Inc. Securities Litigation, Case No. 14-cv-2392 (AKH) (United States District Court, Southern District of New York) ($20 million settlement reached with provider of insurance and wealth management services)
- In re Castlight Health, Inc. Shareholder Litigation, Lead Case No. CIV533203 (Superior Court of the State of California, County of San Mateo) ($9.5 million settlement with Castlight Inc, in a case alleging that the company’s IPO offering documents were false and misleading because they omitted material information, including significant obstacles and delays faced by customers during the implementation of Castlight’s technology, resulting in low customer renewal rates and negatively impacting the company’s gross margins)
- Noppen v. Innerworkings, Inc., et al., Case No. 14-cv-1416 (United States District Court, Northern District of Illinois, Eastern Division) ($6.025 million settlement in case alleging misleading statements and omissions regarding accounting improprieties)
- Hall v. Rent-A-Center, Inc., et al., No. 16-cv-0978 (United States District Court, Eastern District of Texas) (securities class action against Rent-A-Center, Inc., its former CEO Robert D. Davis, and former CFO Guy J. Constant alleging defendants made material misstatements and omissions in violation of the federal securities laws concerning, among other things, the risks and benefits of a new point-of-sale (POS) system that Rent-A-Center began implementing in early 2015)
- In re Biogen Inc. Securities Litigation, No. 1:15-cv-13189-FDS (United States District Court, District of Massachusetts) (securities class action against Biogen and certain current or former executives relating to misstatements and omissions about its leading MS drug, Tecfidera)
Securities Litigation FAQs:
1.What is a Class Action?
A class action lawsuit is a type of case where one or more people can bring a lawsuit on behalf of themselves and other similarly situated people who were harmed by the same actions. Usually, a class action is brought against a company for unlawful conduct such as committing securities fraud or consumer fraud. Securities fraud means the company defrauded its own stockholders, causing them to lose money in their investment in the company. Consumer fraud occurs when a company cheats its own customers.
2. Does it cost me anything to start a class action? Or to join one?
Should you retain the Thornton Law Firm, you will never have to pay anything out of pocket. Thornton Law Firm will advance all the costs and expenses of the lawsuit, and they are only paid if you and the rest of the class obtains a recovery in the case. If you and the class do not get a recovery, the lawyers will receive nothing.
3. What is securities fraud?
Securities fraud occurs all too frequently in our country. Public companies and their senior officers frequently make misstatements to the public regarding a company’s finances or its operations that mislead investors into thinking the company is in better shape than it really is. But ultimately, the truth always ends up coming out. Companies can only hide the truth for so long. When the truth does come out, it usually causes a company’s stock to decrease significantly in value. This happens because the market is surprised by news that contradicts what it was previously told by a company or its officers.
4. When does Securities Fraud take place?
Securities fraud can happen at any time: when a company first issues stock (in an initial public offering also known as an IPO), when a company files quarterly or annual reports to the SEC, in press releases, in public statements by officers, and myriad other times. In the 1930s, in response to the Great Depression, Congress passed the Securities Act of 1933 and the Securities Exchange Act of 1934. These two laws provide the primary basis for investors to recover losses caused by securities fraud.
5. How does securities fraud harm investors?
Investors and the market rely on the integrity of a Company’s public statements in deciding to invest in it. When a company and its officers lie to investors and the market, this causes investors to lose money by no fault of their own. Not only do investors lose money, but you also lose confidence in the stock market and in the companies that you invest your hard-earned money in.
6. Why are securities class actions a good thing?
Securities class actions serve two very important functions: first, they are a way for investors to recover losses caused by fraud. While everyone who invests in the stock market understands that there will be ups-and-downs in the normal course of investing in a company, securities fraud artificially destroys the value of a company’s stock.
Second, securities class actions serve as an important deterrent to fraud. Companies and their senior executives are less likely to commit securities fraud knowing that experienced, successful litigators like Thornton Law Firm will prosecute fraud claims against them.
7. If I own stock in a company, can I be part of the securities class action lawsuit against it?
If you purchased or acquired stock during the “Class Period,” which is the period of time during which a company is alleged to have misled its investors, then yes. You have two options: you can participate in the class action as a lead plaintiff, ensuring that you have a say in how the case is ultimately resolved against the company. You can also remain as a passive member of the class, but your ability to have a say in how the case is conducted or resolved would be limited.
8. If I acquired stock in a company via an IRA, 401(k), or other investment account, can I still participate?
Generally, yes. Contact us to discuss if your investment qualifies.
9. Who is the lead plaintiff in a securities class action?
The lead plaintiff is the individual (or group of individuals) who seek to serve as the class representatives. In this role, you help direct the litigation and ultimately work with your lawyers to determine how the case should proceed and whether a potential resolution should be accepted (such as a settlement offer).
10. Should I serve as the lead plaintiff?
If you acquired or purchased stock in the company during the Class Period, then you should consider serving as the lead plaintiff. It is an important role, and while it won’t take very much of your time, it will greatly assist in helping obtain the best recovery for the class. Investors who serve as lead plaintiffs help ensure that securities litigation continues as a successful deterrent against future fraud, and in the short-term, maximize any potential recovery on behalf of defrauded investors.
11. What are the responsibilities of a lead plaintiff?
A lead plaintiff supervises the litigation and assists the attorneys in making key decisions during the lawsuit. This includes deciding whether to file a complaint, whether to accept a settlement offer, and other major decisions.
12. Can I sell my stock in the company and still take part in the lawsuit?
In most circumstances, you can, but you should always confer with your counsel regarding the implications a sale could have on your case, and of course your financial and tax advisors for other considerations.
13. If I serve as the lead plaintiff, will I be paid to do so?
Generally the Lead Plaintiff obtains the same pro rata share of the recovery that the rest of the class obtains. You may also qualify for payment of a service award, to be decided by the Court, to cover such things as lost wages.
14. Will I have to testify in court if I’m the Lead Plaintiff or Class Representative?
It’s very unlikely. You might have a deposition where you’d be asked certain questions about your purchase or sale of the securities at issue, or your decision to get involved in the lawsuit.
15. If I live outside the United States, can I still be part of the lawsuit?
Yes. If the security was purchased and sold on a U.S. exchange, such as the NYSE or NASDAQ, then a foreign citizen can typically serve as the Lead Plaintiff.
16. How do the lawyers representing the investors get paid?
Attorneys who prosecute securities class actions only get paid if the Class obtains a recovery. If the Class doesn’t get anything out of the lawsuit, then the lawyers get nothing. The fees paid to attorneys are usually taken out of the proceeds obtained on behalf of the entire class. A judge will have to sign off on the payment of any attorneys fees in a securities class action.
Question About A Securities Lawsuit
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