Los Angeles Securities Litigation Attorneys

California Securities Fraud Class Actions Lawyers

The accomplished securities lawyers at Pearson, Simon, Warshaw & Penny, LLP, (PSW&P) have secured millions of dollars for groups of investors and municipalities in litigation over fraudulent stock transactions and broker practices. We are a nationally recognized force in class action lawsuits and complex securities litigation.

From our Los Angeles and San Francisco law offices, we represent shareholders throughout California and nationwide. Call us at (877) 391-8300 to discuss a pending securities class action or your new case.

What Is Securities Litigation?

A securities lawsuit alleges that a company or brokerage firm did not follow the guidelines set in place by the U.S. Securities and Exchange Commission (SEC) and other federal and state laws when handling investments. Common securities litigation involves:

• Breach of fiduciary duty owed to shareholders
• Broker fraud
• Investment fraud (Ponzi schemes)
• Misrepresentation of profitability
• Accounting malpractice
• Market manipulation
• Insider trading
• Unauthorized stock trading

Our securities litigation division has had notable success in class action cases involving sophisticated scams perpetrated with the help of accounting and auditing professionals.

Securities Class Actions

PSW&P has recovered millions of dollars in class actions on behalf of investors, successfully suing major brokerage firms, including:

• Tripath Technology, Inc. : PSW&P has brought an action for breach of fiduciary duty owed to creditors and shareholders against the former officers and directors of Tripath Technology Inc., a high tech public company that filed for bankruptcy in 2007.
• ProShares SKF Fund : We filed a securities class action on behalf of shareholders of UltraShort Financials ProShares Fund (SKF). Our complaint alleges that SKF filed a materially false and misleading registration statement with the SEC, failing to disclose that SKF shares should not be held for more than a single trading day.
• Homestore.com Inc. : On behalf of Homestore.com's shareholders, the California Teachers Retirement Fund, we obtained a $90 million settlement from the internet-based real estate company for falsified financial statements and accounting irregularities. In a follow-up class action lawsuit, PSW&P attorneys secured a $17.5 million settlement from Homestore.com's accounting firm, PricewaterhouseCoopers, for its part in the auditing scheme that artificially increased Homestore.com's profitability.
• Charles Schwab & Co. : As lead counsel in a class action against Charles Schwab & Co., PSW&P attorneys obtained a $2.7 million settlement for unfair maintenance and termination fees that were not properly disclosed to brokerage account holders.

See Notable Class Actions for more information about these and our other securities class actions. We have the ability to analyze complex securities transactions and violations of SEC regulations, working closely with federal investigators.

Individual Shareholder Suits

PSW&P also represents the interests of minority shareholders who are forced out by "cram down" or other stock manipulations. Our lawyers have recovered damages for victims of hostile takeovers by demonstrating how our clients' shares were intentionally devalued, forcing liquidation.

Do You Have a Securities Case?

There are many factors that determine whether you have a securities case, which we will review during your free initial consultation. If you suffered a substantial investment loss because of false or misleading earnings statements or other financial fraud, contact the securities litigation team at Pearson, Simon, Warshaw & Penny, LLP. Call us today at (877) 391-8300.