Shearman & Sterling has been ranked among the top-six securities litigation practices in New York for 2010 by the legal directory PLC Which Lawyer?. The firm's securities litigation practice in New York was one of three distinguished as "Highly Recommended.” New York Litigation partners Stuart Baskin, Adam S. Hakki and Herbert S. Washer were three of a total of 15 lawyers in New York that PLC Which Lawyer? endorsed in the area of securities litigation.
Shearman & Sterling's securities lawyers have been involved in some of the largest, high-profile securities litigation matters in recent years. The firm has won significant victories for clients that have led to the dismissal and/or settlement of major securities lawsuits. Recent victories include the March 2010 dismissal of a securities class actions lawsuit against Fairfax Financial Holdings in the closely watched foreign-cubed case, Kenneth Parks, et al., v. Fairfax Financial Holdings Limited, et al. In March 2010, Shearman & Sterling litigators also obtained the dismissal of a putative federal securities class action filed against Focus Media Holding Limited and Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Merrill Lynch & Co., Inc., which were the underwriters of a nearly $1 billion equity offering by Focus Media. (Shearman & Sterling represented the underwriters in this litigation.) The firm is currently representing Galleon Management in connection with all matters arising from the major insider trading case filed against its founder, including representing the company in all regulatory investigations and SEC litigation arising from the trading, as well as all corporate and fund wind-down matters.
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