Securities Litigation

Girard Gibbs represents individuals and institutional investors who lost money on stock purchases when the value of their shares declined due to fraud or other malfeasance on the part of the company and/or its officers and directors. Most securities cases are brought as class actions filed by individual investors or as individual actions filed by institutional investors.  In a typical scenario, the company will have failed to disclose material adverse information, or will have overstated revenues or earnings, keeping share prices artificially high.  Once the truth is disclosed, the market often reacts unfavorably, resulting in a decline in share prices.  The losses suffered by investors are often the result of corporate fraud.

Girard Gibbs has a favorable track-record in prosecuting securities cases.  For example, the firm served as co-lead counsel in the i2 Technologies Securities Litigation, a class action that settled for more than $87 million; and the In re Corrections Corporation of America Securities Litigation, which settled for over $100 million in cash and stock.  Girard Gibbs also serves as co-lead counsel in the American Express Financial Advisors Litigation, which settled for $100 million. Other securities litigation in which Girard Gibbs served in a leadership role include In re Total Renal Care Securities Litigation ($25 million settlement); In re UDC Homes Securities Litigation ($19.5 million in partial settlements). Girard Gibbs represented the Kansas Public Employees Retirement System in In re Digex, a landmark Delaware Chancery Court action resulting in a settlement of $165 million in cash and non-cash benefits valued at $450 million.

Girard Gibbs represents or has represented some of the most prominent public pension funds and private institutional investors in the United States, including the California State Teachers’ Retirement System (CalSTRS), the Kansas Public Employees Retirement System (KPERS), the Los Angeles County Employees Retirement Association (LACERA), the State of Wisconsin Investment Board (SWIB), the Teachers’ Retirement System of Louisiana, Louisiana School Employees Retirement System, Fireman’s Fund Insurance Company, and Allianz of America, Inc. Girard Gibbs provides monitoring and evaluation services to institutional investors at no charge. Through these services, Girard Gibbs monitors the portfolios of participating pension funds, hedge funds and money managers and advises those funds on their strategies and options for maximizing recoveries in securities litigation.

For descriptions of completed and ongoing securities cases and investigations please visit the Securities Cases page.