Grant & Eisenhofer Named to National Law Journal's Plaintiffs' Hot List for Fifth Year in a Row

Firm noted for achieving more $100 million settlements than any other U.S. law firm; 2009-10 successes include securities class actions and key cases challenging executive compensation on Wall Street

Oct 18, 2010, 17:38 ET from Grant & Eisenhofer P.A.

NEW YORK and WILMINGTON, Del., Oct. 18 /PRNewswire/ -- The National Law  Journal has once again named Grant & Eisenhofer to its short list of the country's leading plaintiffs' law firms.   

For the fifth year in a row, the 70-attorney Grant &  Eisenhofer was included in the NLJ's "Plaintiffs' Hot List," its grouping of the  litigation law firms specializing in plaintiffs representation.  This  year's list includes only 11 firms nationally, which the magazine's editors  report "show the plaintiffs' bar at its best."

The NLJ noted that  "Grant & Eisenhofer has served as lead counsel in many of the largest  securities class actions.  It has achieved more securities settlements  worth more than $100 million than any U.S. law firm, with recoveries exceeding  $12.5 billion in the past five years alone." Established in 1997, G&E  largely represents institutional investors. In recent years, the firm has  expanded beyond securities and corporate governance litigation to represent  plaintiffs in False Claims Act and antitrust actions.

For the 2010  edition of the Hot List, the NLJ focused heavily on shareholder cases, including  litigation stemming from the financial crisis, as well as cases challenging  excesses in executive compensation.  Aside from its general track record,  G&E was singled out for three case successes in particular:  

  • Central Laborers' Pension Fund v. Goldman  Sachs: Grant & Eisenhofer accused Goldman Sachs of breaching its  fiduciary duties with a planned $22 billion bonus plan for executives that  represented nearly half the investment bank's annual net revenue.  As a  result of the litigation, Goldman lowered its bonus pool by just under $6  billion.
  • Security Police and Fire Professionals of America v.  Morgan Stanley:  In another compensation case, G&E alleged that  Morgan Stanley's officers and directors breached their duty by failing to  align the bank's executive pay with the interests of shareholders.  The  NLJ noted that in 2009, despite reporting total income of only $1.15 billion,  Morgan Stanley attempted to earmark $14.4 billion for bonuses and other  executive pay.
  • In re Marsh & McLennan Cos.:   In this  securities class action, the firm represented two major Ohio pension funds,  alleging that the insurance broker's officers, directors, auditors and  underwriters steered business to certain insurance companies in exchange for  kickback commissions.  In 2010, plaintiffs achieved a settlement valued  at more than $400 million.

"It's an honor that for the fifth year running the National  Law Journal has counted us among the top plaintiffs firms in the U.S.   It's obviously an accomplished and competitive field and we're pleased to be  recognized for our continued dedication in representing institutional investors  in important shareholder and corporate governance litigation," said Grant &  Eisenhofer co-managing directors Stuart Grant and Jay  Eisenhofer

"As the litigation landscape continues  to evolve, we hope to stay at the forefront of plaintiffs' counsel," they  continued.  "Our goal today, as when we launched our firm 13 years ago, is  to advocate aggressively on behalf of shareholders and other investors in the  face of corporate misconduct. "

Note:  Grant & Eisenhofer  P.A. represents institutional investors, both domestic and foreign, in  securities class actions, corporate governance actions and derivative  litigation.  The firm has recovered approximately $12.5 billion for  shareholders in the last five years and was cited by RiskMetrics for securing  the highest average investor recovery in securities class actions of any U.S.  law firm in 2008.  Grant & Eisenhofer has been named one of the  country's top plaintiffs' law firms by The National Law Journal for the  past five years.  The firm also represents plaintiffs in antitrust and  False Claims Act litigation.  For more information, visit www.gelaw.com.  

Contact:

Allan Ripp 212-262-7477  arippnyc@aol.com

Elise  Martin 302-622-7004 emartin@gelaw.com

SOURCE Grant & Eisenhofer P.A.



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