Kessler Topaz Meltzer & Check, LLP

Partner Andrew Zivitz spoke with ALM’s Litigation Daily about the state of securities litigation a year after the Second Circuit handed defendants a clearer path for raising price impact challenges in Arkansas Teacher Retirement System v. Goldman Sachs Group Inc. In the article, Andy provided valuable plaintiff-side perspective on the post-ATRS landscape, noting that the plaintiffs’ bar expected more price impact challenges in the wake of the ATRS decision, but the decision has been far from a silver-bullet solution for defeating class certification. Andy further noted that loss causation challenges Defendants historically have raised at summary judgment effectively arise now at class certification in the form of price impact challenges:  “Our position is that undermines the ability to challenge loss causation at summary judgment. Arguments that we've historically seen later in the case are now pushed up into the class certification stage,” Andy said. Read the full article here: https://lnkd.in/er_3TaQG Download PDF here: https://lnkd.in/epBfsYza #SecuritiesLitigation #PriceImpact

We had a great time at the Pennsylvania Conference for Women on November 7th. This annual event brings together over 10,000 professional women for a day of networking, impactful sessions on leadership, health, entrepreneurship, work/life balance, and more. Thank you to the PA Conference for Women for an incredible day! Read more about our experience here: https://lnkd.in/eSkk66TV #PowerinUnity #PennWomen #KTMC #Networking

Kessler Topaz Announces Retirement of Founding Partner David Kessler Radnor, PA, October 24, 2024 — Kessler Topaz Meltzer & Check, LLP today announced that name partner David Kessler is retiring at the end of the year following 28 years of service dedicated to helping shape the firm into one of the most respected players in securities class action litigation. During his career, Kessler had important roles on some of the most historically significant securities class actions. One of the landmark cases that cemented the firm’s reputation was the Tyco fraud and mismanagement litigation, which resolved for over $3 billion. Following the financial crisis of 2008, Kessler was instrumental in recovering more than $5 billion for clients and class members invested in companies such as Wachovia, Bank of America, Citigroup, and Lehman Brothers. In recent years, Kessler and his firm have represented institutional investors in a wide range of cases against pharmaceutical, technology, and electric vehicle companies. Kessler began his career in the wake of the Private Securities Litigation Reform Act (PSLRA) of 1995, which dramatically altered the landscape of securities litigation. Joining in 1996 as one of just six attorneys, Kessler helped the firm adapt to the new law. With a background as a CPA, he also gave the firm credibility in complex financial fraud cases, allowing it to compete with more established players. Under his leadership, the firm has grown to nearly 100 attorneys and 80 staff members and is recognized globally for its expertise in securities litigation and investor protection. “We started out as the new kid on the block,” recalled Kessler. “Today, the market sees us as one of the go-to firms. I am incredibly proud of what we have built.” Over the past two years, Kessler has been focused on succession planning, ensuring a strong bench of talented attorneys is ready to take the firm forward. Reflecting on his departure, Kessler emphasized the importance of knowing when to step aside. “Our training motto has always been to teach somebody to replace yourself, and then you can move on to something bigger or something different,” Kessler said. “But at this point, I’ve really accomplished everything I’ve set out to do. The firm is in great shape, my departure will allow for its continued growth and I’m still young enough to truly enjoy my retirement. That’s how I know it’s the right time.” Read more at https://lnkd.in/ekyzzzEf

#ICYMI: Kessler Topaz Meltzer & Check was honored to receive the Pro Bono Participation Award from the Homeless Advocacy Project at the organization’s annual benefit on October 10. Partner Josh Materese, Co-Chair of the firm’s Pro Bono practice and a member of HAP’s board, accepted the award on behalf of the firm. Since 2022, our dedicated attorneys have proudly partnered with HAP to help Philadelphians experiencing or at risk of homelessness secure critical federal disability benefits to meet their most pressing needs. We look forward to continuing to support HAP's incredible work in the local community. To learn more about our work with HAP, visit: https://lnkd.in/eB57YnZn KTMC team members and friends pictured here include Sharan Nirmul, Lee Rudy, Lauren Lummus, Dylan Isenberg, Kimberly Gamble, Jonathan Neumann, Vanessa Milan, Evan Hoey, Marianne Uy, Lyndsey Campbell (Marcus), Aubrie Kent, J.D., Allyson Rosseel, Grant Goodhart, and Ryan Shelton-Benson. #ProBono #HAPBenefit2024 #KTMC

We are excited to honor those who continue to dedicate their time and passion to the Homeless Advocacy Project. This Thursday, at Celebrating Our Stories, we invite you to help us celebrate our amazing honorees! Let's give a virtual round of applause to: -Ilana Eisenstein, Chair of US Litigation, DLA Piper -Lynn Chartytan, Executive Vice President & General Counsel, Comcast Cable -Lisa F. Whiteley, Director of Practice Management, Ballard Spahr -Laura Kolb, Children, Youth & Families Program Director, Homeless Advocacy Project -Kessler Topaz Meltzer & Check, LLP -PECO/Exelon There is still time to register to attend, bid in our silent auction, and participate in the 50/50 raffle. Learn more and register at https://lnkd.in/gq689KEz. #CelebratingOurStories #HAPBenefit

Congratulations to all 14 Kessler Topaz partners named by Benchmark Litigation to its annual list of Litigation Stars! In addition to the individual honors, Kessler Topaz was recognized as one of the 12 Top Plaintiffs firms in the nation. The firm also received a Tier 1, Highly Recommended ranking for securities litigation and earned a “Highly Recommended” grade for dispute resolution in Pennsylvania. #Congrats again to our partners: Dan Albert, Naumon Amjed, Stuart Berman, Greg Castaldo, Darren Check, Geoffrey Jarvis, David Kessler, Joseph H. Meltzer, Matt Mustokoff, Sharan Nirmul, Lee Rudy, Rick Russo, Marc Topaz, and Andrew Zivitz. For more information, please visit: https://lnkd.in/eF7Y888z #BenchmarkLitigation #KTMC #PlaintiffLitigation

Our passionate attorneys are dedicated to making a difference, both in and out of the courtroom. We are honored to announce that Kessler Topaz will receive the Pro Bono Participation Award from the Homeless Advocacy Project at the organization’s annual benefit on October 10th! Since 2022, our team has partnered with HAP’s SOAR (SSI, Outreach, Access, and Recovery) Project to secure vital federal disability benefits for dozens of people facing or experiencing homelessness in the Philadelphia area. Support HAP’s mission by attending the gala or by participating in the event’s 50/50 raffle and online silent auction. For tickets and more info: https://bit.ly/3BxfhnC #ProBono #HAPBenefit2024 #KTMC  

Kessler Topaz is thrilled to welcome 9 law students to our 2025 Summer Associate Program. The goal of our program is to serve as an educational platform where law students learn and receive guidance as to what a first-year associate can expect. Summer associates will work closely with the Firm’s associates, counsel and partners to gain a wide range of experience from multiple practice areas and leaders.   "Kessler Topaz is proud to welcome this ultra-talented group of law students to our 2025 summer associate program. We were looking for intelligent, mission-driven candidates who would enrich and enhance our firm’s culture. We believe that each member of this group will thrive at KTMC.” – Lee Rudy, Partner   Kessler Topaz offers a wide variety of events to allow summer associates to bond as a cohort, get to know the attorneys and professional staff, and immerse themselves in the Firm’s culture.   Kessler Topaz’s 2025 Summer Associate Class: •   Jessica Lynn - UC Berkeley School of Law  •   Julien Fenouil - Boston University School of Law •   Holly Merrill - Duke University School of Law •   Ben Hayhow - Rutgers Law School •   Léo Mandani - UC Berkeley School of Law  •   Sam Bromer - Georgetown University Law Center •   Alyssa Humeston - Temple University Beasley School of Law •   Nathaniel Hull - UC Berkeley School of Law  •   Leah Cohen - Boston College Law School

Looking forward to another successful RRII with this amazing group of Co-Chairs and the fine people at Institutional Investor!

Kessler Topaz Defeats Dismissal Motion in Coinbase Securities Litigation, Investor Claims to Proceed On September 5, 2024, U.S. District Judge Brian R. Martinotti denied Coinbase’s motion to dismiss a shareholder class action against the world’s largest crypto exchange. In a 49-page opinion, the court sustained securities fraud claims brought by Swedish pension fund Sjunde-AP Fonden (AP7) on behalf of investors stemming from Coinbase’s failure to disclose the true business risks facing the nascent crypto platform. These risks included the likelihood that the SEC would pursue an enforcement action against the company for failing to register the digital assets it lists as securities with the Commission. "The court finds plaintiffs have adequately alleged that defendants misleadingly described a favorable picture of the improbability that the SEC would file an enforcement action by repeatedly emphasizing that the crypto assets they listed were not securities," said the judge's order. In June 2023, when the SEC filed its enforcement action against Coinbase, the company’s stock tumbled, causing massive investor losses. The court also sustained AP7’s claim that Coinbase concealed the risk that customers’ crypto assets could be treated as part of the company’s estate in the event Coinbase filed for bankruptcy.  The case, pending in the U.S. District Court for the District of New Jersey, will now proceed to discovery. The KTMC team representing investors includes Matthew Mustokoff, Stacey Kaplan, Margaret Mazzeo, Joshua Materese, Austin Manning, and Dylan Isenberg. The team members were recognized as “Legal Lions of the Week” by Law360 for this important win. https://lnkd.in/e3w5egt8