Class Action Defense
Two keys to defending class action claims: Individualized issues and defenses on the merits.
Dailey LLP attorneys have extensive experience defending clients against class action suits. We do not just play defense: we tell our client’s story and expose how plaintiff’s claims fail on the merits or are unique and not typical of other members of the proposed class. We help our clients in a wide variety of class action matters, including securities class actions and consumer class actions.
Our Clients Include:
- Public Companies and their Directors and Officers
- Accounting Firms
- Social Media Influencers
- Secured dismissal of putative class action alleging manipulation of natural petroleum benchmark against French petroleum multinational and its subsidiaries following a FERC investigation. Successfully defended the dismissal on appeal.
- A Big 4 accounting firm in a securities class action brought by investors based on public offerings of common stock
- Several well-known social media influencers, and companies owned by them, in a class action brought under a federal statute, related to their ownership of, or social media posts referencing, certain companies
- A nationwide retailer in class action litigation in state court, and related proceedings before a state Department of Revenue, challenging the method used to calculate and collect sales tax on discounted items. After a favorable ruling from the Pennsylvania Supreme Court on the interpretation of the applicable statute and regulation, class counsel agreed to voluntary dismiss the class action and the trial court approved the dismissal.
- The former President of a publicly traded bank and credit card company in securities class action litigation, alleging insider trading under Section 20A, and control liability under Section 20(a), of the Securities and Exchange Act. All claims were dismissed at the motion to dismiss stage
- An outside director in shareholder litigation asserting Section 10(b) and Section 20(a) claims and a Breach of Duty of Care claim under Wyoming law. All claims were voluntarily withdrawn by plaintiffs
- Representing an outside auditor in a series of consolidated securities class actions claiming that the accounting firm committed securities violations during its audits of an international manufacturer. All claims were dismissed on the grounds of international comity.
- Representing a health insurer in provider reimbursement class action. All claims were dismissed by the trial court. Dismissal was affirmed by the Superior Court of New Jersey, Appellate Division.
- Represented an outside auditor in more than a dozen class and individual lawsuits in Multidistrict Litigation, asserting Section 10(b) and Section 11 claims. A Motion to Dismiss was partially successful, with the Section 11 claim dismissed on statute of limitations grounds. The case ultimately settled for less than 1/3 the national average for cases of this size.
- Represented an outside auditor in consolidated shareholder and bondholder class actions arising out of the bankruptcy of a specialty finance company that lent money to health care providers. The class actions asserted claims for securities fraud under Section 10(b) of the Securities and Exchange Act. Obtained a favorable settlement prior to trial that was less than the anticipated costs of trial.