You have to decide if you're a lawyer first or a businessman first. Businessmen make more money.
Belle Harbor, N.Y. (PRWEB) April 20, 2010
Howard B. Sirota announced today that he was ranked #12 in the 2009 Top Fifty Plaintiffs' Law Firms compiled by Securities Class Action Services(SCAS), a division of RiskMetrics, based upon the dollar value of the $586 million recovery in the IPO Securities Litigation, 21 MC 92(SAS) in the Federal District Court for the Southern District of New York.
The SCAS' annual list is intended to aid individual and institutional investors in maximizing shareholder value by highlighting those plaintiffs' firms that are actively involved in bringing class actions and obtaining the most favorable outcomes for the classes they represent.
Sirota said he was "pleased and relieved" to finally have the long-running IPO Securities Litigation "up on the scoreboard" and "thrilled" to be #12 on the SCAS 2009 Top Fifty list of plaintiffs' law firms. "I've spent nine years working on the IPO Securities Litigation. Even in The Bible there were only seven lean years."
Sirota is a New York-based veteran securities litigator who, in 2001, uncovered and filed the very first class action charging the major investment banks with "laddering" and secret profit-sharing agreements with favored clients in hot IPOS during the Internet bubble of the late 1990s. The $586 million recovery is one of the largest securities class action recoveries in American history.
In the notorious Crazy Eddie fraud, 87 Civ. 0033(EHK) in the Federal District Court for the Eastern District of New York, in which Sirota was Lead Counsel, Judge Eugene H. Nickerson praised his "sustained and admirable tenacity." In the Cendant massive accounting fraud, a Third Circuit Court of Appeals panel said that he had shown "prescience." See In Re Cendant Securities Litigation, 264 F.3d 201(3d Cir. 2001). The New York Times has described him as "feisty."
Sirota has been a lead counsel in numerous securities class actions and is a long-time critic and opponent of Milberg LLP and its various successor firms. He does not engage in "pay to play" with public employee and union pension funds, and claims to only file cases involving the oxymoron "genuine fraud."
Sirota added: "You have to decide if you're a lawyer first or a businessman first. Businessmen make more money because they file so many marginal cases against solvent defendants and turn them over for pennies on the dollar."
FOR FURTHER INFORMATION:
Howard B. Sirota
Attorney At Law
125 Beach 128th Street
Belle Harbor, NY 11694
(917) 363-0619 Mobile
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