BURLINGAME, Calif.--(BUSINESS WIRE)--The Securities Class Action Services division of Institutional Shareholder Services (ISS SCAS) has published its annual Top 50 of 2019 report, revealing the top 50 plaintiff law firms in North America ranked by the total amount of funds recovered in securities class action settlements in 2019. Cotchett, Pitre & McCarthy (“CPM”), based in Burlingame, California, with offices in New York and Los Angeles, ranked tenth in the prestigious list, bringing in $82,200,000 in settlement funds from its securities practice.
The report included class action recoveries in the Alibaba and ProNai class actions, amongst others, and highlights CPM’s track record of success for investors. Cotchett, Pitre & McCarthy has served as lead counsel in some of the largest investor class actions in the nation, including the Medical Capital litigation, where CPM obtained one of the largest Ponzi scheme recoveries in United States history on behalf of elderly investors. CPM is currently lead or co-lead counsel in some of the most significant shareholder actions in the country, including class or derivative actions on behalf of shareholders of Wells Fargo, Facebook and Uber.
Mark C. Molumphy, a partner at CPM and head of its securities litigation practice, stated, “It is a tremendous honor to be one of the Top 10 firms in North America and reflects the firm’s strong commitment to recovering funds lost by our clients, including school teachers, police and fire fighters, and mom and pop shareholders. Despite new financial scams targeting investors, including senior citizens most vulnerable to financial abuse, regulators continue to ease investor protections. The ability to recover funds for harmed investors and protect the markets is more essential than ever before.”