Florida Selects Counsel for Future Securities Class Actions

SBALogoBoxThe Florida’s State Board of Administration extraordinarily transparent process for selecting counsel to represent the state’s pension funds in future securities class actions (discussed here) is now completed, and five winners have been named.

The five law firms selected by the Florida SBA are as follows:

  • Pomerantz Haudek Grossman & Gross, New York City
  • Bernstein Litowitz Berger & Grossmann, New York City
  • Berman DeValerio, Boston
  • Barrack, Rodos & Bacine, Philadelphia
  • Kaplan Fox, New York City

The St. Petersburg Times reports that the selection of a sixth firm, Bernstein Liebhard, which was actually the top-ranked firm in the selection process, was placed on hold after the state received an anonymous letter alleging misconduct by the firm’s partners.  Bernstein Liebhard denies the allegations, and has been asked by the SBA to return to Tallahassee in January to provide a response.

Read the St. Petersburg Times article