October 5, 2009

SHH Completes Trial of ERISA Class Action Against Verizon

On October 5, 2009, Magistrate Judge Denlow heard closing arguments in this rare trial of an ERISA class action suit. The case involves nearly 14,000 class members, and defendants estimate class-wide damages could total over $1 billion.    

September 29, 2009

SHH Defeats Motions to Dismiss Dyadic's Former CFO, Controller, and Three Audit Committee Members

On September 29, 2009, the district court denied the motions to dismiss filed on behalf of Dyadic's former CFO, Controller, and three members of Dyadic’s audit committee. Miller v. Dyadic Int'l Inc., No. 07-80948, Order [DE 198] Sept. 29, 2009.    

April 8, 2009

SHH Prevails in Constitutional Class Action Against State of Ohio

On April 8, 2009, the Ohio Supreme Court ruled in favor of a class of unclaimed property owners who sued for interest on their claims. Sogg v. Zurz, 905 N.E.2d 187 (Ohio 2009). The high court reversed the Ohio Appellate Court and affirmed the trial court’s determination that the State of Ohio acted unconstitutionally by failing to pay interest when returning unclaimed funds to their rightful owners. The case is currently before the trial court on remand to determine the amount of interest owed on unclaimed funds claims paid since 2000.

February 19, 2009

SHH Partner Matthew T. Heffner Interviewed in ABA Litigation News

In an article in the February 19, 2009, issue of ABA Litigation News, Mr. Heffner was interviewed regarding the impact of the Third Circuit Court of Appeals' class certification decision in In re Hydrogen Peroxide Antitrust Litigation, 552 F.3d 305 (3d Cir. 2008). The article is available at the ABA's website: www.abanet.org/litigation/litigationnews/top_stories/third-circuit-raises-bar.html   

December 23, 2008

SHH Files Securities Fraud Class Action Against Emcore Corporation

On December 23, 2008, SHH filed a class action on behalf of shareholders who purchased Emcore (NASDAQ: EMKR) common stock from June 12, 2007, through March 17, 2008, in the United States District Court for the District of New Mexico. The Complaint alleges that Emcore and certain corporate defendants issued materially false and misleading statements during the Class Period, including statements overstating the value of the order backlog in Emcore’s terrestrial solar energy division. The complaint alleges that Emcore stock dropped over 23% on March 18, 2008, due to the revelation of the false and misleading statements.

November 25, 2008

SHH Defeats Motions to Dismiss Securities Fraud Class Action Against Dyadic International and its CEO

On November 25, 2008, the District Court for the Southern District of Florida denied the motion to dismiss filed on behalf of Dyadic and its CEO, Mark Emalfarb. Miller v. Dyadic Int'l Inc., No. 07-80948, 2008 WL 5070279 (S.D. Fla. Nov. 25, 2008).

August 28, 2008

SHH Prevails against Verizon on Behalf of Participants in Cash Balance Plan

On August 28, 2008, the District Court for the Northern District of Illinois held that the plan administrator acted arbitrarily and capriciously when it used the doctrine of ambiguity to ignore an unambiguous plan provision that was allegedly included in the plan document by mistake. Young v. Verizon's Bell Atlantic Cash Balance Plan, 575 F. Supp. 2d 892 (N.D. Ill. 2008) (Denlow, M.J.). The court held that, upon discovering the alleged error, the plan adminstrator should have come to court to seek reformation of the plan document, rather than interpreting it as an ambiguity.

April 18, 2008

SHH Appointed Lead Counsel in Securities Fraud Class Action Against Dyadic International Inc.

On April 18, 2008, SHH was appointed lead counsel after winning the hotly-contested lead plaintiff position in this securities fraud class action. See Miller v. Dyadic Int'l Inc., No. 07-80948, 2008 WL 2465286 (S.D. Fla. Apr. 18, 2008).

December 18, 2007

Multi-District Litigation Panel Transfers Refined Petroleum Products Price Fixing Suits to the Southern District of Texas

On December 18, 2007, the MDL Panel consolidated for discovery purposes and transferred  S-Mart Petroleum, Inc. v. Petroleos de Venezuela, S.A., No. 07-4434, Fast Break Foods, LLC v. Saudi Arabian Oil Co., No. 07-4409, Green Oil Co. v. Saudi Arabian Oil Co., No. 07-4413 and Countrywide Petroleum Co. v. Petroleous de Venezuela, S.A., No. 07-4415 to the Southern District of Texas, Judge Sim Lake.

December 11, 2007

SHH Files Securities Suit on Behalf of Investment Advisor Against Dyadic International and Mark Emalfarb

On December 11, 2007, SHH filed suit against Dyadic International, Inc., and Mark Emalfarb for violations of Sections 10(b) and 20(a)of the Securities and Exchange Act of 1934.  SHH alleged that the Defendants covered up an on going fraud in its Asian subsidiary and falsely accounted for income from that subsidiary.  On April 24, 2007, Dyadic announced it was beginning an investigation into these issues, and on September 24, 2007, the CEO Mark Emalfarb was fired as a result of the investigation.  Trading in Dyadic securities was halted on April 23, 2007.

November 5, 2007

SHH Attorneys Involved in United States Supreme Court Oral Argument Regarding the $2 Trillion Municipal Bond Industry

SHH attorneys are actively involved in putative class actions challenging the constitutionality of municipal bonds’ tax exempt status in Kentucky, North Carolina, and Arizona.  For press coverage regarding this issue, click here, here, and here.  On November 5, 2007, the United States Supreme Court held oral argument in Dept. of Revenue v. Davis, No. 06-666, regarding the plaintiffs’ allegations that Kentucky’s taxation of income derived from out-of-state municipal bonds while exempting income derived from in-state municipal bonds was a violation of the Dormant Commerce Clause. 

September 7, 2007

SHH Files Securities Suit Against Midway Games and Its Directors

On September 7, 2007, SHH filed suit against Midway Games Inc. and certain of its officers and directors alleging violations of Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934.  As the complaint details, the Defendants failed to disclose material facts regarding Midway’s operational and financial difficulties, resulting in an inflated stock price.

September 3, 2007

SHH Partner Matthew T. Heffner Interviewed Regarding Sub-Prime Mortgage Crisis

On September 3, 2007, SHH attorney Matthew T. Heffner was quoted in the International Herald Tribune regarding the complaint filed by SHH in Marlin v. Citigroup Global Markets Inc., No. 07-3580 (E.D.N.Y.), and the litigation surrounding the recent sub-prime mortgage crisis.  The article can be found here.

August 30, 2007

SHH Successfully Argues for Class Certification in Illinois Unclaimed Property Litigation

SHH is actively involved in nationwide litigation challenging the constitutionality of certain states’ unclaimed property statutes under the Takings Clause of the Fifth Amendment to the United States Constitution. On April 30, 2007, SHH attorney Arthur T. Susman successfully argued a motion for reconsideration regarding the certification of a class of people harmed by Illinois’ unclaimed property statute.  The Court in that case entered an order certifying the class on August 30, 2007.

August 27, 2007

SHH Is the First to File Suit in Federal Court Against Underwriters and Auditors for Their Role in the Sub-Prime Mortgage Debacle

SHH filed a securities class action against Citigroup Global Markets Inc. and Deloitte and Touche LLP over their involvement in the American Home Mortgage Prospectus and Proxy Statement of April 30, 2007.  SHH was the first firm in the nation to name underwriters and auditors as defendants in securities suits related to the recent sub-prime mortgage implosion.  The Complaint, found here, alleges violations of Sections 11 and 12 of the Securities Act of 1933 in connection with the above-mentioned Proxy and Prospectus Statement of April 30, 2007.

August 14, 2007

SHH Achieves 100% Claims Rate Success in PNB Shareholder Litigation Recovery

On August 14, 2007, SHH proudly achieved a 100% claims rate in the PNB Shareholder Litigation.  All of the money achieved in the successful trial on the merits by SHH attorneys was distributed to the class members with no excess funds.  After finding every injured class member or their beneficiaries, SHH distributed the award to all class members.

June 25, 2007

SHH Partner Matthew T. Hurst Interviewed Over Constitutional Challenge to Discriminatory Education Deduction

On June 25, 2007, Matthew Hurst was interviewed for two separate articles in Crain’s Investment News and Money Management regarding the firm’s challenge to the discriminatory deductibility of contributions to in-state 529 plans. Mr. Hurst described the suit in Money Management as"a case of trying to make sure the economic playing field is restored to help people make the right decision. We are looking at this from both a Constitutional and economic perspective." The Investment News article is available online and can be found by here.

May 15, 2007

SHH Files Constitutional Challenge to Illinois 529 Plan

On May 15, 2007, SHH filed a constitutional challenge to Illinois’ discriminatory tax treatment of contributions to tax-advantaged college savings programs (“529” plans). In violation of the Commerce Clause of the U.S. Constitution and the Uniformity Clause of the Illinois Constitution, the State of Illinois allows individuals to deduct their contributions to the Illinois 529 plan but not contributions to other states’ 529 programs. Plaintiff contends contributions to all 529 programs should be deductible, allowing individuals to select a 529 plan based on true program costs.

March 22, 2007

SHH Files Suit Against Citgo Petroleum Corporation and others for fixing prices of Refined Petroleum Products

On March 22, 2007, SHH filed its Amended Complaint alleging price fixing of refined petroleum products, including gasoline.  Named Defendants in this suit incluce Citgo Petroleum Corporation, the Saudi Arabian Oil Company, and Petroleos de Venezuela S.A.  In this historic class action, SHH alleges the Defendants and other entities have been involved in a conspiracy to fix the price of refined petroleum products, as opposed to crude oil, since at least November 2002.

January 16, 2007

SHH Successfully Certifies Class of former Bell Atlantic employees in ERISA suit against Verizon

On January 16, 2007, Chief Magistrate Judge Morton Denlow of the Northern District of Illinois certified a class of over 13,000 participants in Verizon’s Bell Atlantic Cash Balance Plan  SHH alleges that Verizon and the Plan Administrators have been severely underpaying the benefits due under the Plan since at least 1996. 

December 11, 2006

SHH Qui Tam Suit Against Amazon.com and UPS Supply Chain Management Unsealed

On December 11, 2006, The Illinois Attorney General unsealed and intervened in a qui tam action filed by SHH in August 2006. The action, filed against internet retailer Amazon.com and UPS Supply Chain Management, alleges that the two companies failed to collect and remit the sales tax to the State of Illinois despite a physical presence in the state. The complaint alleges that to obfuscate their presence in the state, the companies placed false shipping invoices in packages stating that they shipped from Kentucky even though they originated in Illinois.

September 19, 2006

Final Judgment Entered In Favor of Plaintiff Class in Rare Class Action Trial

Vice Chancellor Leo Strine of the Delaware Chancery Court entered the final order and judgment in favor of Pontiac National Bank Holding Co. shareholders totaling $1.22 million on September 19, 2006.  Matthew T. Heffner and Matthew T. Hurst successfully tried this class action case before V.C. Strine in February 2006, and won on the merits.

The trial involved novel legal issues regarding conflicts of interests of directors and executive officers involved in converting a C-corporation to an S-corporation.  For the opinion regarding these issues, please click here.

September 15, 2006

SHH Qui Tam Suit Against Ingram Micro Unsealed

On September 15, 2006, the Illinois Attorney General unsealed and intervened in a qui tam action filed by SHH in February 2006. The action, filed against internet retailer Buy.com and distributor Ingram Micro, alleges that the two companies failed to collect and remit the sales tax to the State of Illinois despite a physical presence in the state. The complaint alleges that to obfuscate their presence in the state, the companies placed false shipping invoices in packages stating that they shipped from California even though they originated in Carol Stream, Illinois.

 

 

 

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