With a news cycle dominated by stories of fraud, greed and mismanagement at some of the world’s most successful companies, it is more important than ever to heed the warning of legendary investor and Berkshire Hathaway CEO Warren Buffet, who said, “Business leaders view shareholders as patsies, not partners.”
Shareholders are vulnerable to many different types of fraud or misconduct, from corporate misstatements regarding a company’s revenues, profits, or financial status, to improper accounting manipulations that serve to artificially inflate the price of a company’s stock. When the fraud is uncovered, the stock price often plummets, causing investors to lose money.
More and more, portfolio managers and their investors find themselves “holding the bag,” while company management – and the bankers, lawyers and accountants who assist them – walk away with millions in undeserved compensation.
Carney Bates & Pulliam built a national reputation in securities litigation by helping shareholders fight back, getting recoveries that offset losses suffered as a result of fraud on the part of public companies and their officers, directors, underwriters, auditors, and accountants.
Beyond recovering losses suffered at the hands of management, shareholder suits can force real change in corporate governance practices. A successful derivative action provides a wake-up call to a corporation’s officers, forcing them to start acting in the shareholders’ interests (rather than their own). A successful derivative action also provides opportunity for independent oversight from directors, reining in executive compensation and benefiting investors well into the future.
Carney Bates & Pulliam prosecutes securities litigation on a contingent-fee basis – legal fees and expenses are paid only from the ultimate settlement received. The investor maintains a high degree of influence on the course of the litigation, while actual demands on the client’s time are minimized.
If you would like to learn more about our data privacy litigation group, or if you have a claim you would like us to investigate, we invite you to contact us at email@example.com or call our offices at (888) 551-9944.