Newman Ferrara's class action group specializes in complex, multi-party litigation with an emphasis on consumer fraud and deceptive practices, securities and shareholder class and derivative actions, and ERISA litigation. The group also handles more general complex commercial litigation involving allegations of breach of contract, breach of fiduciary duty, fraud, and negligence, as well as litigation involving labor and employment, civil rights, consumer fraud, whistleblower actions, and anti-competitive conduct.
Consumer Fraud and Products Liability
Newman Ferrara advises and represents clients who have purchased defective goods, services, or have been deceived through misleading and fraudulent billing and marketing practices. The general public suffers significant harm when companies knowingly engage in deceptive business practices and when companies' guarantees about their products are not met.
The firm's attorneys have a long record of fighting business practices that are deceptive, and in challenging companies who produce defective products. Newman Ferrara attorneys have obtained substantial financial compensation for clients who have been harmed as a result of defective products. The firm is committed to achieving results for their clients, and has the expertise and resources to effectively do so.
Employees and those planning retirement rely on the effective management of benefit plans. Accordingly, the law places a high emphasis on protecting employees and other beneficiaries by placing great burdens on those who are in charge of administering the benefit plans. The Employee Retirement Income Security Act ("ERISA") is the primary enforcement mechanism to ensure the rights of employees, and guarantees that traditional pension plans, 401(k) plans, stock ownership plans, healthcare plans, and disability plans are properly maintained by employers.
Under ERISA, those involved in the administration of employee benefit plans have a fiduciary duty to prioritize the interests of the plans' participants and beneficiaries. ERISA provides a scheme to enforce any violations that occur under the law.
Newman Ferrara represents those individuals who have suffered as a result of ERISA violations. The firm's attorneys have served as lead or co-counsel in many ERISA class actions and related benefits actions, and have recovered substantial sums in these matters.
Mergers and Acquisitions
Corporate directors owe fiduciary duties to the corporation and its shareholders, requiring them to exercise their best judgment in good faith and in a prudent manner, and to always act in the best interests of the corporation and its shareholders. In mergers, acquisitions, and other changes of corporate control, these fiduciary duties require directors to take all reasonable steps necessary to obtain the maximum value available for shareholders.
Shareholder class actions and derivative litigation are powerful tools to protect shareholders’ rights against directors who fail to act in the best interests of shareholders to maximize shareholder value in corporate mergers and acquisitions. Newman Ferrara is highly experienced in pursing actions to protect the interests of shareholders from corporate misconduct and holding those directors and officers who breached their trust accountable for their actions.
Those who invest in securities markets rely on the integrity and responsibility of corporate officers and directors. Executive officers who mislead investors by publishing false and/or misleading information about a company's financial status raises the company's stock value, but when the underlying fraudulent practice becomes known to the public, those who invested in the stock suffer a great financial loss. Newman Ferrara strives to protect investors and zealously pursues the rights of those who seek to recover their investment losses.
With a national practice based in New York City, Newman Ferrara's legal expertise includes investigating and litigating against those companies who violate the law by misinforming their investors of the company's financial status. The firm's attorneys have successfully represented numerous clients, and won significant cases for clients, obtaining large sums to redress the client's loss.
Directors and officers of corporations are supposed to act responsibly in protecting the interests of shareholders, but unfortunately, breaches of duty do occur through cover-ups, misleading investors, false statements, and reckless business judgment.
Class actions and shareholder derivative litigation are powerful tools to protect investors' rights from such breaches of duty, and Newman Ferrara is experienced in pursuing shareholder suits and derivative actions in order to protect investors from corporate misconduct and holding those who breached their trust accountable for their actions.
An individual who discloses non-public, original information about fraudulent or unethical conduct occurring at a company is called a "Whistleblower." Under a number of state and federal laws, whistleblowers can be protected from retaliation and may be entitled to significant rewards for coming forward with information that leads to a successful prosecution of a company or individual.
Types of Whistleblower actions include:
False Claims Act, a statute that authorizes private citizens to sue companies and individuals that defraud the government. False Claims Act whistleblowers may be able to obtain a percentage (as much as 30%) of any funds recovered through a successful prosecution.
Dodd-Frank Act, authorizes corporate insiders who report non-public, original information of a fraud, including violations of the federal securities laws (i.e., false or misleading statements to investors), to report such information and become eligible for a percentage of any recovery achieved through a successful enforcement action.