Securities Fraud Law Firm – ERISA Violation Cases
Zamansky LLC is a premier New York City securities arbitration law firm located in the heart of Wall Street. Our legal team has decades of experience in the financial industry and has recovered millions of dollars for both individual and institutional investors across the United States and abroad. We have built an unparalleled reputation for aggressively prosecuting cases and recovering losses.
The investment fraud and securities class actions attorneys at our firm are actively involved in the prosecution and investigation of many ERISA violation cases. These cases include:
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. Although previously dismissed by the district court for the Southern District of New York, on December 10, 2018, the United States Court of Appeals for the Second Circuit reversed and remanded the case for further proceedings. The Second Circuit’s decision represents a significant and positive change in post-Dudenhoeffer ERISA 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/
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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.
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.
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.
JPMorgan Chase & Co. Employees Class Action
Zamansky LLC has been appointed interim lead counsel on behalf of a class of JPMorgan Chase & Co. employees who participated in the company’s 401(k) savings plan. The employee shareholders allege that they suffered financial harm due to the company’s misconduct concerning the “London Whale” trading losses that cost JPMorgan several billion dollars.
The basis for the employee class action is that the Plan‘s fiduciaries were aware or should have been aware of internal and external warnings indicating that JPMorgan faced imminent multi-billion-dollar derivatives trading losses, that its financial condition was far worse than apparent from its public filings, and that its past earnings were untrustworthy. JPMorgan ignored these warnings, thereby breaching its duties of prudence and loyalty under ERISA with regard to the heavy concentration and continued investment in JPMorgan common stock held under the Plan. This matter is currently pending before the Supreme Court of the United States.
An Experienced Investment Fraud Attorney Can Help
If you are an existing or former employee of any of the companies discussed above who has suffered 401(k) or other employer sponsored plan losses, or if you believe that you have sustained losses due to another company’s violation of ERISA, please contact an experienced investment losses lawyer at our firm today.