DRRT's Global Loss Recovery Blog

Opting Out Of The Class: It May Be The Best Course Of Action

Posted by Jonathan Cohen on Aug 3, 2021 10:27:58 AM

To opt-out, that is the question. An opt-out action is when an investor chooses to remove itself as a class member of a securities class action suit with the intention of filing a direct action against the defendant. There are many reasons why it may be advantageous for an investor to proceed in this manner. As we have had an abundance of experience with direct action opt-outs, if the damages are large enough, this will likely be the best course of action for the institutional investor.

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Topics: U.S. Securities Class Actions, Class Action, litigation, institutional investor, claims, Opt-out

The Status of Whistleblowing Today: the Whistleblower Industry, Legal and Monetary Protections, and its Impact on Corporate Behavior and the Lives of Whistleblowers

Posted by Hanna Simonson & Lorena Kern on May 20, 2021 3:04:06 PM

Globally, whistleblowers are afforded greater protections today than ever before, but the threats that come along with unveiling corruption still prevent people from coming forward. The United States offers a great body of laws and protections for whistleblowers, more than any other country, and this is reflected in the number of whistleblower reports and also the amount of awards granted each year. EU member states, including Germany, are also implementing new protections for whistleblowers, but lag behind their American counterparts. Overall corporate governance guidelines and trends have had an effect on the whistleblowing industry as people are encouraged to come forward from inside any affected companies. However, although there is some progress in certain geographic locations, the world needs to encourage whistleblowers to come forward and report wrongdoing. The result will be a better and more sustainable world.

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Topics: Global Loss Recovery, institutional investor, whisteblowers, legal, SEC

DRRT mentioned in the article "Webinar Highlights Importance of Whistleblowers and Reporters", written by Whistleblower Network News

Posted by Andres Cuyun on May 4, 2021 9:28:37 AM

On March 23, international law firm DRRT hosted an online webinar called “Whistleblowers and Reporters: Importance of Access to Information.” DRRT mainly focuses on litigation outside of the U.S., where discovery is not possible. The firm stressed the importance that both whistleblowers and journalists have in releasing information critical for investors’ efforts to recover from damages the investors have incurred. The virtual event featured Jonathan Taylor, a whistleblower who exposed corruption and bribery in Dutch company SBM Offshore. The webinar also included Georgina Halford-Hall, chief executive of not-for-profit organization WhistleblowersUK, John Kostyack of the National Whistleblower Center (NWC), Lord Cromwell of the House of Lords in the UK, and Tom Warren, a forensic journalist from BuzzFeed News.

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Topics: loss recovery, investors, whisteblowers, article, reporters, webinar, petrobras, uk

Final Filing in the Securities Action Against Danske Bank

Posted by Andres Cuyun on Sep 22, 2020 10:03:02 AM

Copenhagen, Denmark: On Monday, September 21, 2020, Danish boutique litigation firm KLAR Advokater filed a fifth and final round of complaints against Danske Bank A/S for damages on behalf of 55 institutional investors clients of DRRT and Grant & Eisenhofer. With this additional round of claims totaling over DKK 1.071 billion (€144 million/$169 million) the total amount of the DRRT/G&E group of claims comes to DKK 6.786 billion (€912 million/$1.071 billion) and the number of claimants to 303. The cases were filed in the Copenhagen City Court.

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Topics: litigation, shareholders, investors, danskebank, claims, lawsuit

DRRT Supports the Boys & Girls Clubs of Miami During COVID-19 Pandemic

Posted by DRRT Client Relations on Apr 28, 2020 4:43:48 PM

In another example of DRRT's commitment and support of our local community in the challenging times surrounding the COVID-19 pandemic, DRRT made a financial contribution of the Boys and Girls Clubs of Miami-Dade in late April 2020. The contribution will allow The Boys and Girls Clubs of Miami-Dade to continue serving the younger citizens of our community during these challenging times.

DRRT will continue to support our local community and we thank our clients who make this possible.

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Topics: corporate social responsibility, COVID-19, Support, Community

DRRT Supports Efforts of Lotus House in Miami During COVID-19 Pandemic

Posted by DRRT Client Relations on Apr 24, 2020 11:11:57 AM

DRRT is committed in supporting our local community in the challenging times surrounding the COVID-19 pandemic. DRRT is proud to support the efforts of the Lotus House in providing shelter for women, youth, and children. DRRT’s donations served to stock up on supplies, additional staff, and an increased number of meals served as the shelter in place order was issued.

DRRT will continue to support our local community and we thank our clients who make this possible. 

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Topics: corporate social responsibility, COVID-19, Support, Community

JBS Securities Arbitration in Brazil

Posted by Andres Cuyun on Mar 18, 2020 10:31:55 AM

On Thursday, March 12th, 2020, DRRT along with Brazilian co-counsel, Finkelstein Advogados, requested mandatory arbitration under the auspices of the Market Arbitration Chamber (“MAC”) of the B3, against JBS S.A. and other defendants (“JBS”) on behalf of ninety-five institutional shareholders seeking over BRL 1.4 billion ($280 mio) in compensation for damages caused by JBS’s illegal activities over the past decade. Pursuant to Article 49 of JBS’ bylaws the “Company [and] its shareholders…undertake to resolve through arbitration any dispute or controversy which may arise between them…before the Market Arbitration Chamber, under the terms of its Arbitrations Regulations”, leaving confidential arbitration as the only way to recover damages.

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Topics: Settlement, Arbitration, Brazil, shareholders, loss recovery, jbs

Joseph Gulino speaks at the Sovereign Wealth Fund Institute’s 2020 Institute Fund Summit in Austin, TX

Posted by Andres Cuyun on Feb 20, 2020 2:35:23 PM

DRRT’s Assistant Managing Partner, Joseph Gulino had the pleasure of speaking at the Sovereign Wealth Fund Institute’s 2020 Institute Fund Summit in Austin, TX. The panel, “Corporate Governance and Shareholder Engagement” discussed some of the corporate governance measures that institutional investors have at their disposal as well as the importance of litigation as a means of shareholder engagement. 

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Topics: Class Action, shareholders, swfi, stewardship, corporategovernance, ESG, compliance, litigation funding

Netherlands – New WCAM on the Horizon - Is this the advent of “true” class actions in Europe?

Posted by Angela Reategui on Dec 20, 2019 1:17:27 PM

As 2019 comes to an end, we are looking forward to the New Year with legal developments in the securities litigation world. As part of our ongoing commitment to be the leaders in covering global developments of interest for our institutional clients, we would like to highlight the new Dutch Act on Collective Damages Claims (Wet Afwikkeling Massaschade in Collectieve Actie; short: WAMCA). The WAMCA will finally enter into force on January 1, 2020 and complement the preexisting act on collective settlements of mass claims (WCAM). The WAMCA will cover collective damages actions for claims resulting from conduct that took place after November 15, 2016, the date that the legislative proposal was submitted to the Dutch Parliament. After various amendments, the WAMCA was finally approved in March 2019.

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Topics: law, shareholders, newsletter, WAMCA, investors, netherlands, dutch

DRRT speaks at the ICGN Miami 2019

Posted by Andres Cuyun on Oct 23, 2019 2:13:19 PM

DRRT successfully hosted the panel regarding Shareholder Protection through Loss Recovery Litigation at the International Corporate Governance Network Miami on October 16, 2019. 

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Topics: litigation, shareholders, shareholder protection, conference, ICGN, loss recovery