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Eric Lechtzin

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Mr. Lechtzin is a shareholder in the Securities Department and has extensive experience representing individual and institutional shareholders, including public pension funds, in federal securities fraud actions.  Mr. Lechtzin also practices in the area of consumer fraud.

Since joining Berger & Montague, Mr. Lechtzin has been instrumental in helping the firm secure leadership positions in national securities fraud class actions against Centerline Holding Company, Municipal Mortgage & Equity, Fifth Third Bancorp, Oppenheimer Pennsylvania Municipal Bond Fund and Hemispherx Biopharma, Inc.  Mr. Lechtzin has also helped obtain significant corporate governance reforms in shareholder derivative actions.

During the first ten years of his career, Mr. Lechtzin practiced with two large Philadelphia firms, where  he worked on a wide variety of commercial matters, including successfully arguing an appeal before the Pennsylvania Supreme Court in SEPTA v. W.C.A.B. (Henderson), 669 A.2d 911 (Pa. 1995), which changed workers' compensation standard for determining voluntary retirement from workforce.  Mr. Lechtzin also successfully prosecuted unfair labor practice charges before the National Labor Relations Board, and defended potentially responsible parties in complex environmental cases.

Prominent Judgments & Settlements

  • In re: Oppenheimer Rochester Funds Group Securities Litigation, No. 09-md-02063-JLK (D. Col.) ($89.5 million).
  • In re Hemispherx Biopharma, Inc. Litigation, 09-CV-5262-PD (E.D. Pa. April 19, 2010) (alleged § 10(b) violations upheld against pharmaceutical company)
  • Matt Brody v. Zix Corp., 2006 U.S. Dist. LEXIS 69302 (N.D. Tex. Sept. 26, 2006) (defeated defendants' motion to dismiss)
  • In re LaBranche Sec. Litig., 405 F. Supp. 2d 333 (S.D.N.Y. 2005) (alleged § 10(b) violations upheld against NYSE specialist firm accused of manipulative trading)
  • In re Transkaryotic Therapies, Inc. Sec. Litig., No. 03-CV-10165-RWZ (D. Mass.) (defeated motion to dismiss and won class certification motion; ultimately settled for $50 million)
  • In re Global Crossing Access Charge Litigation, No. 04-MD-1630 (S.D.N.Y) ($15 million settlement - more than a third of the damages sustained by the class)
  • Taft v. Ackermans, (KPNQwest Securities Litigation), No. 02-CV-7951 (S.D.N.Y.) ($15 million settlement)
  • In re Renaissance Holdings Ltd. Securities Litigation, No. 1:05-CV-6764 (S.D.N.Y.) ($13.5 million settlement)
  • In re Van der Moolen Holding N.V. Securities Litigation, No. 1:03-CV-8284 (S.D.N.Y.) (defeated defendants' motion to dismiss and secured an $8 million settlement - more than a third of the damages sustained by the class)
  • Scott Tanne v. Autobytel, Inc., et al, No. CV 04-8987 (C.D. Cal.) ($6.75 million settlement)
  • In re Biolase Technology, Inc. Securities Litigation, No. 8:04-CV-947 (C.D. Cal. July 25, 2006) (defeated motion to dismiss claims alleging violations of § 11 of the Securities Act of 1933; $2.95 million settlement)
  • In re TV Azteca S.A. de C.V. Securities Litigation, 04-cv-00546-JES (S.D.N.Y.) (obtained a settlement that, when combined with SEC Fair Funds, represented a recovery of nearly 100% damages sustained by the class)