Class Action & Multidistrict Litigation

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Overview

With potential exposure that may climb into the billions of dollars, class action and multi-district litigation can threaten the life of a business. Such litigation is often accompanied by governmental investigations, and few firms have the sophistication and experience to manage both complex civil litigation and regulatory exposure. RK&O has over 25 years’ experience delivering positive outcomes for our clients in such complex cases, from obtaining dismissal of claims and reducing the scope of our clients’ potential liability, transferring and consolidating actions in favorable forums, managing broad-gauge discovery and achieving favorable outcomes through dispositive motions or settlements. more +

Clients such as London-based interdealer broker ICAP and monoline insurer Financial Guaranty Insurance Corp. have repeatedly turned to RK&O for high-stakes class action and multi-district litigation, including cases involving:

  • Securities fraud
  • Antitrust
  • Derivatives claims
  • Civil RICO

One of our group’s strengths is our deep knowledge of federal court practice, civil claims and regulatory enforcement. This allows us to develop and execute a comprehensive strategy that anticipates and protects our clients from the civil actions that often run concurrent with government investigations. Our litigators, who greatly benefit from a close collaborative relationship with our Chambers-cited white collar and regulatory groups, are recognized by clients for deftly handling government investigations.

Experience

  • ICAP in multiple class actions alleging violations of the antitrust laws and the Commodities Exchange Act in connection with alleged efforts to manipulate USD LIBOR, Yen LIBOR, Euroyen TIBOR, Euribor and ISDAfix.
  • FGIC in actions in New York, Alabama, California, Louisiana and Arizona, which raised extremely complex issues implicating the subprime mortgage crisis, structured finance, municipal finance and the system of dual credit ratings for municipalities and corporations.
  • The chief financial officer of MF Global Holdings Ltd. in securities and commodities class actions pending in the Southern District of New York.
  • A hedge fund and investment adviser in consolidated multidistrict litigation involving class action and derivative claims arising out of mutual fund market timing.
  • Former senior executives of Sunterra Corp, a vacation-ownership-interval company in a federal court action brought by a litigation trustee asserting breach of fiduciary duties and in related bankruptcy and insurance-coverage actions.
  • The former president and chief executive officer and the acting chief financial officer of Alphastar Insurance Group in an $80 million action brought by a Chapter 7 trustee, which was dismissed at the pleading stage.

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