Talk:Labaton Keller Sucharow

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Changes needed[edit]

I have a few changes to suggest on behalf of Labaton, with whom I have a Conflict of Interest, and I would really appreciate a review of to ensure they meet community standards. I have tried to provide reasoning as I go to break up the text and make it easier to navigate, but please let me know if you have any questions on any aspects of this request. I have used the TextDiff and Box Templates to indicate the changes and in-sentence locations of reference material.

1.[edit]

As of January this year, the firm name used is Labaton Keller Sucharow LLP, and the number of attorneys has increased to 70, so I propose amending the first paragraph accordingly (and also the infobox):

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'''Labaton Sucharow''' is an American [[plaintiff]]s' law firm. Founded in 1963, the firm employs over 60 lawyers in offices in [[New York (state)|New York]], [[Delaware]], and [[Washington, D.C.]]
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'''Labaton Keller Sucharow LLP ("Labaton")''' is an American [[plaintiff]]s' law firm. Founded in 1963, the firm employs over 70 lawyers in offices in [[New York (state)|New York]], [[Delaware]], and [[Washington, D.C.]]
Labaton Keller Sucharow LLP ("Labaton") is an American plaintiffs' law firm.[1] Founded in 1963, the firm employs over 70[2] lawyers in offices in New York, Delaware, and Washington, D.C.
 Partly done I renamed the article but the lawyer headcount seems to be sourced from a user-submitted directory. We need a more reliable source for the new headcount number. STEMinfo (talk) 23:42, 22 March 2024 (UTC)[reply]

References

  1. ^ a b "Labaton Keller Sucharow LLP Announces Securities Class Action Lawsuit Filed Against The Boeing Company and Certain Executives". markets.ft.com. Retrieved 2 February 2024.
  2. ^ "Labaton Keller Sucharow LLP Firm Profile". Retrieved 2 February 2024.

2.[edit]

The History section includes notable cases throughout, so I suggest renaming this section "History and notable cases" so this is apparent. I would also like to suggest the following updates:

2.1[edit]

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Labaton Sucharow was founded in 1963 by Edward Labaton and Lawrence Sucharow. In 2014, ''The New York Times'' wrote that Labaton Sucharow was part of "a flourishing industry that pairs plaintiffs' lawyers with state attorneys general to sue companies." The firm has been a donor to state attorneys general associations, candidates, state party committees, and attorneys general running for governor.
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Labaton Sucharow was founded in 1963 by Edward Labaton and Lawrence Sucharow. In 2010, the firm expanded to Delaware.

The firm has been a donor to state attorneys general associations, candidates, state party committees, and attorneys general running for governor.

During the years 2018 to 2022, Labaton was a top ten law firm based upon the number of settlements recorded for the year, as reported by the advisory firm Institutional Shareholder Services (ISS).
In 2010, the firm expanded to Delaware.[4]

In 2014, The New York Times wrote that Labaton Sucharow was part of "a flourishing industry that pairs plaintiffs' lawyers with state attorneys general to sue companies." The firm has been a donor to state attorneys general associations, candidates, state party committees, and attorneys general running for governor.

During the years 2018 to 2022,[6][7][8][9] Labaton was a top ten law firm based upon the number of settlements recorded for the year, as reported by the advisory firm Institutional Shareholder Services (ISS).

References

  1. ^ a b "Delaware Powerhouse: Labaton Sucharow". Law360. Retrieved September 10, 2022.
  2. ^ Lipton, Eric (December 19, 2014). "Lawyers Create Big Paydays by Coaxing Attorneys General to Sue". The New York Times. Retrieved January 3, 2022.
  3. ^ "Political Gifts from Plaintiffs' Lawyers". The New York Times. December 18, 2014. Retrieved January 3, 2022.
  4. ^ a b Pappas, Leslie A. "Delaware Powerhouse: Labaton Sucharow - Law360". www.law360.com. Retrieved 2 February 2024.
  5. ^ "Political Gifts from Plaintiffs' Lawyers". The New York Times. December 18, 2014. Retrieved January 3, 2022.
  6. ^ a b "ISS Top 50 2018" (PDF). Retrieved 2 February 2024.
  7. ^ a b LaCroix, Kevin (11 March 2020). "ISS Ranks 2019 Top Plaintiffs' Securities Class Action Firms". The D&O Diary. Retrieved 2 February 2024.
  8. ^ a b LaCroix, Kevin (24 March 2021). "ISS SCAS Report Ranks Top 50 Plaintiff's Securities Law Firms by 2020 Settlement Values". The D&O Diary. Retrieved 2 February 2024.
  9. ^ a b Frankel, Alison (7 March 2022). "Robbins, Bernstein cement duopoly in big securities class actions - ISS report". Reuters. Retrieved 2 February 2024.

Reasoning:

  • This major expansion is sensible to include in the History of the firm.
  • The 2014 New York Times article cited does not make any reference to Labaton so the statement quoted is inappropriate to include.
  • The ISS rankings are a useful way to assess the key plaintiff firms.
 Partly done I added the expansion. I removed the statement attributed to the NY Times since you are correct and Labaton isn't mentioned. I changed your requested date range "2018 to 2022" to "2019 to 2022" since the source for 2018 is a PDF stored on the Squarespace web hosting platform, and is therefore unreliable. It could be Photoshopped. STEMinfo (talk) 06:17, 25 March 2024 (UTC)[reply]

2.2[edit]

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''The New York Times'' wrote that the firm's "settlement could prompt greater transparency about so-called finder fees paid to lawyers — especially those who do little actual work in a matter" and that the firm's settlement agreement brought attention to "the kinds of behind-the-scenes deals that plaintiffs' law firms reach with other lawyers to build their case."

In 2020, U.S. District Judge [[Mark L. Wolf]] reduced Labaton Sucharow's fee in the State Street case by $10 million after finding the firm failed to disclose an agreement to pay a Texas lawyer who introduced the firm to the pension fund that served as the case's lead plaintiff.

In 2021, French businessman Gerard Sillam and French lawyer Aldric Saulnier claimed that the firm had defrauded them out of fees for introducing Labaton partners to billion-dollar European money-management firms that Labaton sought to represent. In 2022, U.S. District Judge [[Colleen McMahon]] ruled that Sillam and Saulnier could bring a claim against the law firm following its [[motion to dismiss]].
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''The New York Times'' wrote that the firm's "settlement could prompt greater transparency about so-called finder fees paid to lawyers — especially those who do little actual work in a matter" and that the firm's settlement agreement brought attention to "the kinds of behind-the-scenes deals that plaintiffs' law firms reach with other lawyers to build their case."

Christopher J. Keller has led the firm as chairman since 2019. In 2020, the firm secured a $192 million settlement from SCANA Corp "resolving class claims the company and its executives misled the public about long delays and massive cost overruns in a $9 billion nuclear reactor project". Labaton was investigated in connection with its fee award for a $300 million settlement of a class action lawsuit against the investment management firm State Street Global Advisors. Following allegations that that multiple law firms, including Labaton, inflated billable hours and paid a referral fee to an attorney uninvolved in the litigation, U.S. District Judge [[Mark L. Wolf]] reduced Labaton Sucharow's fee in the State Street case by $10 million after finding the firm failed to disclose an agreement to pay a Texas lawyer who introduced the firm to the pension fund that served as the case's lead plaintiff, and the firm later agreed to pay an additional $4.8 million. In 2021, French businessman Gerard Sillam and French lawyer Aldric Saulnier claimed that the firm had defrauded them out of fees for introducing Labaton partners to billion-dollar European money-management firms that Labaton sought to represent. In 2022, U.S. District Judge [[Colleen McMahon]] ruled that Sillam and Saulnier could bring a claim against the law firm following its [[motion to dismiss]]. The Judicial Court of Paris acquitted the firm of all charges and dismissed the charges against it. The court ordered Sillam and Saulnier to pay €150,000.

In 2021, the firm achieved a $650 million settlement for Illinois Facebook users as co-lead counsel in In re Facebook Biometric Information Privacy Litigation. The case was one of the first of its kind, asserting claims that the company violated Illinois's [[Biometric Information Privacy Act]] (BIPA) by using facial recognition technology without consent. The firm also represents Illinois Samsung Galaxy owners over allegations that the devices violate BIPA. In 2023, a Chicago federal judge ruled that Samsung must comply with its own terms of service and pay more than $4 million in filing fees to begin a mass arbitration.
Christopher J. Keller has led the firm as chairman since 2019.[5]

In 2020, the firm secured a $192 million settlement from SCANA Corp "resolving class claims the company and its executives misled the public about long delays and massive cost overruns in a $9 billion nuclear reactor project".[6]

Labaton was investigated in connection with its fee award for a $300 million settlement of a class action lawsuit against the investment management firm State Street Global Advisors. Following allegations that that multiple law firms, including Labaton, inflated billable hours and paid a referral fee to an attorney uninvolved in the litigation, U.S. District Judge Mark L. Wolf reduced Labaton Sucharow's fee in the State Street case by $10 million after finding the firm failed to disclose an agreement to pay a Texas lawyer who introduced the firm to the pension fund that served as the case's lead plaintiff,[2] and the firm later agreed to pay an additional $4.8 million.[7]

In 2021, French businessman Gerard Sillam and French lawyer Aldric Saulnier claimed that the firm had defrauded them out of fees for introducing Labaton partners to billion-dollar European money-management firms that Labaton sought to represent.[3] In 2022, U.S. District Judge Colleen McMahon ruled that Sillam and Saulnier could bring a claim against the law firm following its motion to dismiss.[4] The Judicial Court of Paris acquitted the firm of all charges and dismissed the charges against it. The court ordered Sillam and Saulnier to pay €150,000.[8]

In 2021, the firm achieved a $650 million settlement for Illinois Facebook users as co-lead counsel in In re Facebook Biometric Information Privacy Litigation. The case was one of the first of its kind, asserting claims that the company violated Illinois's Biometric Information Privacy Act (BIPA) by using facial recognition technology without consent.[9] The firm also represents Illinois Samsung Galaxy owners over allegations that the devices violate BIPA. In 2023, a Chicago federal judge ruled that Samsung must comply with its own terms of service and pay more than $4 million in filing fees to begin a mass arbitration.[10]

References

  1. ^ a b Goldstein, Matthew (October 10, 2018). "Law Firm's Fee Settlement Could Shake Up Securities Class Actions". The New York Times. Retrieved January 3, 2022.
  2. ^ a b c Frankel, Alison (July 27, 2021). "State Street fallout for Labaton: Lawyer sues over unpaid 'referral' fees". Reuters.
  3. ^ a b c Frankel, Alison (September 20, 2021). "Former Labaton consultant's suit details firm's big-money recruiting of Euro clients". Reuters.
  4. ^ a b c Scarcella, Mike (April 6, 2022). "Plaintiffs firm Labaton can't shake consultants' lawsuit over referral deal". Reuters. Retrieved April 19, 2022.
  5. ^ a b Olson, Elizabeth. "Labaton Sucharow Chair of Two Decades Steps Aside (Corrected)". news.bloomberglaw.com. Retrieved 2 February 2024.
  6. ^ a b Brown, Andrew Brown (7 January 2020). "Dominion Energy to pay $192M in settlement tied to failed SC nuclear project". Post and Courier. Retrieved 2 February 2024.
  7. ^ a b Goldstein, Matthew (10 October 2018). "Law Firm's Fee Settlement Could Shake Up Securities Class Actions". The New York Times. Retrieved 2 February 2024.
  8. ^ a b Hasday, Antoine (26 September 2023). "Les accusateurs français de Labaton Sucharow agacent la justice américaine". Gotham City (in French). Retrieved 2 February 2024. In translation "Estimating that " Gérard Sillam and Aldric Saulnier had the defendants cited unfairly ", the criminal court ordered the plaintiffs to pay more than 150,000 euros, mainly to the defendants"
  9. ^ a b Cavaliere, Victoria (27 February 2021). "Judge approves $650 million settlement of Facebook privacy lawsuit linked to facial photo tagging". Business Insider. Retrieved 2 February 2024.
  10. ^ a b Channick, Robert (28 September 2023). "Samsung 'was hoist with its own petard' in court ruling that could cost it millions for alleged violations of Illinois biometric privacy law". Chicago Tribune. Retrieved 2 February 2024.

Reasoning:

  • Missing update on Key person change
  • Missing notable cases
  • Further detail on notable cases
 Partly done The source says Keller was there since 2020, so I changed it from 2019. Putting in the info about the investigation following the $300M settlement is confusing and repetitive. We need to address the previous content to make it concise. I added the SCANA and Facebook info. There was no source for the official name of the Facebook case that you included in your request (In re Facebook Biometric Information Privacy Litigation), so I added one. I didn't add the info about the resolution of the Sillam Saulnier case. The French source is paywalled, so someone else is going to have to confirm the details. Lastly, I thought about making a Notable cases section separate from History, but can't easily figure out how to extract the $300M judgement the firm won from State Street from the penalty the firm received for not disclosing the finders fee the firm paid for the case. STEMinfo (talk) 00:36, 26 March 2024 (UTC)[reply]

2.3[edit]

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In 2022, the firm and four others won, amounting to $1 billion, the largest stockholder [[class action | class cash settlement]] in Chancery Court history against [[Dell Technologies]] founder Michael Dell and other defendants.
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In 2022, the firm acted as co-lead counsel in a breach of fiduciary duty case against [[Dell Technologies]] founder Michael Dell and other defendants. The $1 billion settlement is the largest in Chancery Court history.

In 2023, the firm reached agreements with Allstate Corp. to settle allegations that the auto insurer failed to disclose details about a spike in claims for $90 million and with Alexion for a $125 million settlement to end claims that the drugmaker caused a double-digit plunge in stock price after its allegedly illegal sales strategy came to light.

Labaton represented Guess shareholders in an action alleging breach of fiduciary duty arising from an alleged pattern of sexual harassment by Guess’s co-founder and Chief Creative Officer Paul Marciano that resulted in a $30 million settlement.
In 2023, the firm reached agreements with Allstate Corp. to settle allegations that the auto insurer failed to disclose details about a spike in claims for $90 million[3] and with Alexion for a $125 million settlement to end claims that the drugmaker caused a double-digit plunge in stock price after its allegedly illegal sales strategy came to light.[4][5]


Labaton represented Guess shareholders in an action alleging breach of fiduciary duty arising from an alleged pattern of sexual harassment by Guess’s co-founder and Chief Creative Officer Paul Marciano that resulted in a $30 million settlement.[6]

In 2022, the firm acted as co-lead counsel in a breach of fiduciary duty case against Dell Technologies founder Michael Dell and other defendants.[2] The $1 billion settlement is the largest in Chancery Court history.[1]

References

  1. ^ a b c "Five Firms Brought Home 'Historic' $1B Dell Deal In Chancery". Law360. Retrieved January 28, 2023.
  2. ^ a b Bardash, Ellen (16 November 2022). "Dell Agrees to Record $1B Cash Settlement With Shareholders Before Chancery Trial". Delaware Business Court Insider. Retrieved 2 February 2024.
  3. ^ a b Miller, Ben. "Allstate Settles Auto Insurance Claim Spike Suit for $90 Million". news.bloomberglaw.com. Retrieved 2 February 2024.
  4. ^ a b Pazanowski, Bernie (14 April 2023). "Alexion Will Face Securities Class Action Over Soliris Sales". news.bloomberglaw.com. Retrieved 2 February 2024.
  5. ^ a b Nilsson, Henrik (13 September 2023). "Alexion Inks $125M Deal In Investors' Suit Over Sales Tactics - Law360". www.law360.com. Retrieved 2 February 2024.
  6. ^ a b Feeley, Jef (29 September 2023). "Guess pays up to $30 million to settle allegations that its cofounder treated models like his 'personal harem'". Fortune. Retrieved 2 February 2024.

Reasoning

  • Clarifying nature of role in securing record settlement
  • Missing notable cases after 2022
 Partly done @The Comfiest: The source I found that I could read said the settlement was "one of the largest cash settlements in Delaware Chancery Court history on behalf of shareholders", so I added the info with a qualifier. Added the Allstate and Alexion info, but the firm is not named in the Guess source you provided. I've done all I can with this request, but leaving it open in case others can fill in the gaps. STEMinfo (talk) 01:00, 26 March 2024 (UTC)[reply]

Thank you so much for reviewing these! The Comfiest (talk) 17:42, 2 February 2024 (UTC)[reply]

@STEMinfo Thank you for your thorough response. It means a lot that you engaged with the material whole-heartedly! I will revisit the content of the section you deemed needed to be clearer and more concise. I'll hold out for now on closing the request until that wording is done and on the off-chance any Gotham City readers are able to verify the content of the article I linked in 2.2. The Comfiest (talk) 17:16, 28 March 2024 (UTC)[reply]
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