Class Action Litigation

Zamansky LLC represents investors in securities class action lawsuits and employees in ERISA class action cases.

Our securities class action practice helps investors recover losses, sheds light on industry wrongdoing, and helps restore confidence to the marketplace. Our ERISA class action practice helps current and former employees recover irreplaceable retirement savings often lost as result of fraud or other breaches of fiduciary duties.

Currently Pending Class Action Litigation

J.C. Penney ERISA Litigation

As sole interim class counsel, Zamansky LLC successfully obtained a settlement of $4.5 million for J.C. Penney employees in an ERISA class action over misrepresentations related to the company’s “fair and square” pricing strategy. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://www.jcperisaclassaction.com/

Avon Products ERISA Litigation

As interim co-lead counsel, Zamansky LLC successfully obtained a settlement of $6.25 million for Avon Products employees in an ERISA class action over misrepresentations associated with violations of compliance with the Foreign Corrupt Practices Act. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://avonerisasettlement.com/

Wells Fargo ERISA Litigation

Zamansky LLC partner Samuel Bonderoff serves on the Executive Committee in this ERISA class action lawsuit brought on behalf of Wells Fargo employees over the banking giant’s cross-selling scandal. The suit alleges that employees of Wells Fargo secretly signed up bank customers for unauthorized accounts in order to meet internal quotas.

Exxon ERISA Litigation

As interim class counsel, Zamansky LLC represents Exxon employees in an ERISA class action case to recover retirement savings losses resulting from Exxon’s materially false and misleading public statements repeatedly highlighting the strength of its business model and its transparency and reporting integrity, particularly with regard to its oil and gas reserves and value of those reserves. These statements were materially false and misleading when made because they failed to disclose: (i) that Exxon’s own internally generated reports concerning climate change recognized the environmental risks caused by global warming and climate change; (ii) that, given the risks associated with global warming and climate change, the Company would not be able to extract the existing hydrocarbon reserves Exxon claimed to have and, therefore, a material portion of Exxon’s reserves were stranded and should have been written down; and (iii) that Exxon had employed an inaccurate “price of carbon”—the cost of regulations such as a carbon tax or a cap-and-trade system to push down emissions—in evaluating the value of certain of its future oil and gas prospects in order to keep the value of its reserves materially overstated.

View More Currently Pending Class Action Litigations

Hewlett Packard ERISA Litigation

Zamansky LLC was appointed interim lead counsel in this class action lawsuit currently on appeal before the United States Court of Appeals for the Ninth Circuit. The suit alleges that the HP fiduciaries responsible for ensuring that HP company stock was a prudent investment offering for the company’s employee 401(k) plan failed to fulfill their duties. Specifically, the suit alleges that the fiduciaries should have undertaken a thorough review of the stock’s prudence as it became clear that the company’s multi-billion-dollar acquisition of Autonomy represented a vast overpay and that the company would have to take a massive write-down, negatively impacting the value of HP stock.

Allergan ERISA Litigation

Zamansky LLC represents the putative class of Allergan employees in this ERISA class action lawsuit brought to recover retirement savings losses resulting from alleged anti-competitive, and possibly illegal, collusive price fixing of generic pharmaceutical drugs.

American Express ERISA Litigation

Zamansky LLC represents the putative class of American Express Company employees in this ERISA class action over losses suffered from misrepresentations associated with the expiration of its co-branding agreement with Costco.

Whole Foods ERISA Litigation

Zamansky LLC represents the putative class of Whole Foods Market employees in this ERISA class action over losses suffered from misrepresentations associated with its quality controls and consumer regulatory violations for overcharging.

Walt Disney ERISA Litigation

Zamansky LLC, as co-counsel for the putative class, represents Disney employees in this ERISA class action lawsuit brought to recover retirement savings caused by breaches of fiduciary duties by Plan fiduciaries to Plan participants. Disney employees were offered an investment option for their retirement savings—the Sequoia Fund—that promised to follow a “value” investment strategy, yet as it instead pursued a “growth” strategy, Plan fiduciaries continued to offer the Sequoia Fund to unsuspecting Plan participants.

IBM ERISA Litigation

As interim lead counsel, Zamansky LLC represents IBM employees in an ERISA class action case over misrepresentation relating to $700 million of losses reported in its Microelectronics business segment.

L-3 Communications ERISA Litigation

Zamansky LLC represents the putative class of L-3 employees in this ERISA class action lawsuit brought to recover retirement savings losses which arose out of a massive accounting fraud. L-3 has admitted and acknowledged that: i) misconduct, accounting errors and concealment occurred at its Aerospace Systems segment; ii) four senior officers who participated in the accounting fraud were terminated for intentional misconduct; iii) its financial results on its annual report for 2013 and quarterly report for the first quarter of 2014 were misstated by $169 million, and L-3 belatedly filed corrected results; and iv) its internal controls for financial reporting were inadequate and it adopted remediation plans that it still cannot state are effective.

Eaton ERISA Litigation

Zamansky LLC represents the putative class of Eaton Corporation employees in this ERISA class action currently on appeal before the United States Court of Appeals for the Sixth Circuit. This suit seeks to recover losses resulting from false and misleading representations which assured investors and the market of the continued feasibility of divesting Eaton’s automobile-part manufacturing business on a tax-free basis following a 2012 merger and reincorporation.

Edison ERISA Litigation

Zamansky LLC represents the putative class of Edison International Inc. employees in this ERISA class action over misrepresentation relating to a proposed $3.3 billion settlement of the regulatory investigation by the California Public Utility Commission over its defunct San Onofre Nuclear Generating Station.

Notable Class Action Litigation

CSO Partners Hedge Fund Litigation

Zamansky LLC was appointed co-class counsel for investors in a fraud, breach of fiduciary duty, and aiding and abetting case against Citigroup Inc. and Citigroup Alternative Investments Inc. for its failed Corporate Special Opportunities Ltd. fund, a distressed debt fund. The suit alleged that investors were misled concerning conflicts of interest, risk controls, and other aspects of the hedge fund, and that they suffered substantial damages when the fund was liquidated at three cents on the dollar after entering a highly leveraged, poorly priced position over the portfolio manager’s objections. After successfully overcoming a motion to dismiss and obtaining discovery, a settlement of $13.5 million was reached. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://www.csohedgefundsettlement.com/

MF Global Securities Litigation

As additional counsel for named plaintiffs in this consolidated securities class action arising out of the collapse of MF Global Holdings Limited in October 2011 for violations of federal securities laws, Zamansky LLC worked towards obtaining an aggregate total recovery of $234.3 million for investors. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://mfglobalsecuritiesclassaction.com/

Millenium Hedge Fund Litigation

As co-lead class counsel, Zamansky LLC successfully obtained a settlement of $14.75 million for hedge fund investors in the now-collapsed Millenium Global Emerging Credit Fund who were victims of a fraudulent net asset valuation inflation conspiracy scheme involving Nigerian and Uruguayan warrants.

Facebook IPO Securities Litigation

Zamansky LLC, as one of the lead attorneys for the plaintiff class of investors in a negligence action against the NASDAQ Stock Market, was instrumental in obtaining a $26.5 million settlement for the class. This class action case sought recovery for millions of investors who suffered massive damages as a result of NASDAQ’s negligent inability to properly conduct the Facebook initial public offering. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://www.nasdaqfbsettlement.com/

JinkoSolar Securities Litigation

As co-lead counsel for a class of investors, Zamansky LLC successfully obtained a settlement of $5.05 million against JinkoSolar and its underwriters for registration statement and financial report misrepresentations and omissions concerning its compliance with environmental standards during its manufacture of solar chips. Class members can visit the following website for more information regarding this settlement and the status of its administration: http://www.jinkosolarsecuritiessettlement.com/

Citigroup Securities Litigation

As co-lead counsel, Zamansky LLC successfully obtained a settlement of $8.5 million for a class of Citigroup employees for losses suffered in their employee restricted FCAP stock and stock option plan resulting from securities fraud.

Principal Financial Group Ponzi Scheme Litigation

As co-lead counsel, Zamansky LLC successfully obtained a settlement of $3.2 million for a class of investors against the custodian of their IRA and pension accounts, the assets of which were stolen in the James Nicholson/Westgate Ponzi scheme fraud.