Chitwood Harley Harnes LLP has over a decade of experience representing institutional investors in securities litigation and is proud to have working relationships with a large number of state, city, county, municipal and union pension funds.
Over 1,500 securities fraud cases have been filed since the year 2000. While most people are aware of the Enron and WorldCom debacles, the majority of the 225 new cases filed each year go under the radar screen. Nevertheless, investors suffer losses in each of these cases, and many of them warrant institutional leadership and participation. At the very least, fiduciaries for public funds should be aware of each case filed in which their fund had class period purchases, and all class members should file claim forms at the conclusion of each case.
Studies continue to show that a large number of pension funds fail to file the appropriate claim forms at the conclusion of each securities class action. As a result, those funds fail to obtain maximum benefits for their members. Chitwood Harley Harnes LLP works closely with its clients and their custodial banks to confirm that all eligible claims are made in a timely fashion.
As counsel to dozens of public funds, Chitwood Harley Harnes LLP takes its fiduciary responsibilities to its clients seriously. We only recommend that our clients seek a lead plaintiff role in those cases that have strong merits and in which the fund has significant losses. On average, Chitwood Harley Harnes LLP chooses to participate in only ten to fifteen percent of the securities fraud cases filed each year, and we are not afraid to counsel our clients not to actively participate in cases that do not meet our standards.