Zamansky LLC Successfully Obtains Preliminary Approval of J.C. Penney ERISA Class Action Settlement

Zamansky LLC, as sole interim class counsel, successfully obtained preliminary approval of a $4.5 million settlement for J.C. Penney employees in an ERISA class action over misrepresentations related to J.C. Penney’s “fair and square” pricing strategy. In Law360’s JC Penney Wins Initial OK for $4.5M ERISA Deal article by Fola Akinnibi, Jacob Zamansky said, “[o]n …

Jacob Zamansky Quoted by New York Law Journal

Securities Defense Bar Praises Trump SEC Pick, New York Law Journal, by Christine Simmons President-elect Donald Trump nominated Jay Clayton, a partner at Sullivan & Cromwell, to lead the U.S. Securities and Exchange Commission, a nomination that securities litigators and other lawyers who have worked with Clayton greeted with enthusiasm. Jacob Zamansky said Clayton appears …

Jacob Zamansky Published in Wall Street Lawyer – Securities in the Electronic Age

Jacob Zamansky’s blog post Could The DOL’s New Fiduciary Duty Rule For Retirement Accounts Boomerang On Investors? was recently published as an article in the November 2016 issue of Wall Street Lawyer – Securities in the Electronic Age (Volume 20, Issue 11).  The article, which discusses the Fiduciary Duty Rule passed by the U.S. Department …

FINRA Still Struggling to Diversify Arbitrator Pool

The Financial Industry Regulatory Authority told Bloomberg BNA that it has dramatically expanded resources to tackle recruitment and diversity concerns, while admitting there’s more work to be done in what’s likely to be a “long slow process with incremental progress.” That’s not fast enough for attorneys who represent investors, such as Jacob H. Zamansky of …

Little-Discussed Aspect of CFPB Ruling Could be Boon to Lawyers

Lawyers who advise banks, mortgage lenders and other industries regulated by the Consumer Financial Protection Bureau were hit by a blizzard of calls and inquiries this week by clients who are feeling more confident in challenging the agency after a court ruling limited its authority and rejected its statutory interpretations. While the constitutional authority issue …

Jacob Zamansky Quoted by Wall Street Journal

Proposed Rule Would Allow Consumers to Sue Banks, Credit-Card Companies – Current mandatory arbitration clauses in contracts force customers into private negotiations to solve disputes, Wall Street Journal, by Yuka Hayashi and Christina Rexrode. The Consumer Financial Protection Bureau proposed a rule on Thursday restricting the use of mandatory arbitration clauses in consumer financial contracts.  …

SEC Examiners Aren’t Alone In Putting High-Yield Bonds Under the Microscope

Yesterday New York City-based Zamansky LLC unveiled investigations into a dozen open-end mutual funds, two hedge funds, and a closed-end fund. The investigation comes four days after Zamansky filed a $500-million, putative class-action lawsuit over the now-infamous fall of Third Avenue’s Focused Credit Fund. Click here to view the full article on mfwire.com.

Third Avenue Fund Faces $500M Investor Suit After Freeze

Third Avenue Management Co. LLC and its founder were hit with a $500 million shareholder lawsuit Friday that charges they breached their fiduciary duties with a $790 million junk-bond fund that recently froze redemptions. Third Avenue Focused Credit Fund investor William Engel accuses the firm, founder Martin Whitman and other executives of failing to maintain …

Third Avenue, Whitman are sued over junk bond fund collapse

Third Avenue Management, founder Martin Whitman and other executives at the value investment firm have been sued for at least $500 million over last month’s sudden collapse of a junk bond mutual fund they oversaw. In a complaint filed on Friday with a New York state court in Manhattan, an investor in the Third Avenue …