CLASS ACTION CASES
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Lesley F. Portnoy
Founding Partner
Lesley Portnoy brings more than a decade of experience representing investors and consumers in recovering losses caused by corporate fraud and wrongdoing. Lesley is based in Los Angeles.
Lesley has assisted in the recovery of billions of dollars on behalf of aggrieved investors, including the victims of the Bernard M. Madoff bankruptcy. Courts throughout the United States have appointed him as Lead Counsel to represent investors in securities fraud class actions.
As Lead Counsel with in In re Yahoo! Inc. Sec. Litig., a high-profile class action litigation against Yahoo! Inc., Lesley helped achieve an $80 million settlement for the Class in 2018. The case involved the biggest data breaches in U.S. history, in which over 3 billion Yahoo accounts were compromised.
Other securities fraud cases that Lesley successfully litigated include Parmelee v. Santander Consumer USA Holdings Inc.; In re Fifth Street Asset Management, Inc. Sec. Litig.; In re ITT Educational Services, Inc. Sec. Litig.; In re Penn West Petroleum Ltd. Sec. Litig.; Elkin v. Walter Investment Management Corp.; In re CytRx Corporation Sec. Litig.; Carter v. United Development Funding IV; and In re Akorn, Inc. Sec. Litig.
Lesley received his B.A. in 2004 from the University of Pennsylvania. In 2009, he simultaneously received his JD magna cum laude from New York Law School and his Masters of Business Administration from City University of New York. At New York Law School, Lesley was on the Dean’s List-High Honors and an Articles Editor for the New York Law School Law Review.
Lesley is admitted to practice in New York and California, and is admitted to practice before the United States Court of Appeals for the Second Circuit, and the United States District Courts for the Southern and Eastern Districts of New York, the Central, Northern, and Southern Districts of California and the Northern District of Texas.
$5.5Billion +
Money Recovered
Choose the Portnoy Law Firm to Recover Your Losses
Lesley Portnoy brings more than a decade of experience representing investors and consumers in recovering losses caused by corporate fraud and wrongdoing. Lesley is based in Los Angeles.
Lesley has assisted in the recovery of billions of dollars on behalf of aggrieved investors, including the victims of the Bernard M. Madoff bankruptcy. Courts throughout the United States have appointed him as Lead Counsel to represent investors in securities fraud class actions.
FAQ
Get Informed
A class action is a type of lawsuit in which one person, usually the lead or named plaintiff, represents everyone who suffered similar harm from the defendant’s unlawful conduct. Class action lawsuits are often filed when it would be impractical or prohibitively expensive for each person who was harmed to file an individual lawsuit. This procedural device enables shareholders or consumers who have suffered relatively small losses or injury to seek recovery from large corporations possessing much greater legal and financial resources without having to bear the financial risk.
In federal court, a “lead plaintiff” will be appointed to represent the other shareholders who purchased the securities during the “class period,” which is the time frame during which the fraud occurred. While class action lawsuits can take two to three years to litigate, they may also settle much sooner.
Securities class actions are lawsuits filed by at least one investor seeking to recover losses caused by corporate fraud and malfeasance. Securities class actions typically allege that a corporation through its officers and directors misled investors over a certain period of time, the “Class Perios.”
Class actions typically take at least 2-3 years to litigate, although the actual time it takes to resolve a case varies, depending on the complexity of the case, the issues involved and other factors.
Under the direction of the federal securities laws, Courts appoint a lead plaintiff to direct legal counsel and represent the interests of the class of investors harmed by the alleged corporate wrongdoing.
If you purchased your securities during the class period, and your purchase resulted in a loss, you may be eligible to recover money damages.
Yes, investors can participate in the class action after selling shares, so long as the shares were purchased during the Class Period.
No. The Portnoy Law Firm will advance all costs of your class action lawsuit. Operating on a contingency basis, clients do not pay out of pocket, and the firm only recovers its expenses upon recovering money for clients.
Potentially, other investors may file another case, in the event more than one class action filed, the court typically consolidates the cases into one single cases. The lead case will incorporate all the potential claims and parties.
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