Dykema

Schoengold & Sporn was originally founded in 1962. For over 40 years, the firm has specialized in representing investors and consumers in class action litigation. In recent years, the firm served as Lead Counsel on behalf of institutional and individual Lead Plaintiffs in the Harmonic, Nicor, Westar, SPX Corp., and PNC Financial cases, recovering over $140 Million. We represented a named plaintiff certified as class representative in the WorldCom securities class action wherein a record $6.13 billion was recovered, one of the largest securities fraud settlements of all time. Our attorneys also recovered more than 100% of claimed overcharges in a consumer class action involving the storage of precious metals. Schoengold & Sporn is a true boutique law firm ; we exclusively handle securities, derivative, and consumer protection cases. Our attorneys are highly trained and experienced in consumer actions and securities class action work. And because we are more streamlined than some other firms in the field, we have the ability to be more selective in the cases we bring. That is why historically our average recovery as a percentage of damages is greater than some of the larger, more litigious firms in the field. Our unique ability to maximize damage recoveries was highlighted by Federal District Judge McMahon of Manhattan in Maley v. Del Global Corp., 00-CV-8495 ( S.D.N.Y ), a case in which Schoengold & Sporn acted as Sole Lead Counsel. There Judge McMahon commended the firm for "going the extra mile" in obtaining a settlement that represented approximately 41 percent of the maximum recoverable damages incurred by the class, observing: "Through ( Schoengold & Sporn's ) efforts, after intensive investigation, concentrated litigation and extensive arm's-length bargaining, and without the benefit of any governmental agency's investigation, Class Counsel have secured a settlement fund which confers an excellent benefit to the Class... I can't ever remember having participated as a lawyer or a judge in a settlement of a securities fraud class action that yielded in excess of a forty percent rate of recovery." The Wall Street Journal has also highlighted the firm's distinctive success rate. In an April 25, 2002 article, the Journal cited two of our cases wherein we served as Sole Lead Counsel as being among the largest recoveries as a percentage of damages to date ( Anadigics, 44% and Versatility, 30% ). Over the years, Schoengold & Sporn has also litigated important and precedent-setting legal issues. For example, in Singer v. Nicor Inc. ( In re Nicor Inc. Sec. Litig. ), where Schoengold & Sporn was Sole Lead Counsel, the firm successfully argued that the stay of discovery under the PSLRA should be lifted in order to obtain important documentation that might well have been lost in the interim. And recently, in In re Dynex Capital Inc. Sec. Litig. and Teamsters Local 445 Freight Division Pension Fund v. Bombardier, Inc., where the firm again served as Sole Lead Counsel, the courts permitted an expansive use of the class action device in the representation of investors in public offerings. The courts in those cases held that where multiple offerings were subject to the same alleged misconduct by the same defendants, purchasers on one offering could represent purchasers on the others. Schoengold & Sporn, P.C, Cannon's Walk, 19 Fulton Street, NY 10038 New York Suite 408, Tel 212-964-0046, Fax 212-267-8137