In approving the settlement of the Cyberguard Securities Litigation in April 2004, in which Shalov Stone Bonner & Rocco LLP was Co-Lead Counsel, United States Magistrate Judge Andrea M. Simonton in the Southern District of Florida commented:
"I think that the result was an outstanding result. ... [Q]uite frankly, I think that if you didn't have that caliber of counsel on the plaintiffs' side, there is no way that these shareholders would be looking at the recovery that they are and, in my experience, it is a substantial recovery."
Transcript of hearing in Cheney v. Cyberguard Corp., Case No. 98-6879 CIV-Gold (April 16, 2004) at 47.
The law firm of Shalov Stone Bonner & Rocco LLP represents clients in a wide variety of litigation, with an emphasis on complex litigation, class actions, derivative and other actions on behalf of financial market participants, investors and consumers. A majority of the firm's cases involve federal or state securities laws, consumer fraud statutes, product liability claims or corporate governance matters. The firm also actively prosecutes and defends claims on behalf of financial institutions and pension funds, including several banks, hedge and bond funds and the public pension funds of the State of New Jersey, and it represents parties in client/broker disputes, litigations involving discrimination claims, product liability matters and general commercial disputes.
In pursuing its clients' interests, Shalov Stone Bonner & Rocco LLP draws upon its members' experience at the nation's largest firm specializing in the representation of defrauded investors and consumers as well as their experience representing Fortune 500 companies at some of New York's elite defense firms. The firm is committed to achieving favorable results for its clients in the most expeditious and economical manner possible.
The firm and its lawyers are regularly recognized by its peers in the Bar, the courts and the media, for the high quality counsel and work product we provide, and the outstanding results we achieve.
In 2002, the firm was appointed by the New Jersey Attorney General as special counsel to the State of New Jersey public pension funds, and, among other things, is now prosecuting claims on behalf of New Jersey's pension funds arising from their investment losses suffered on investments in Tyco International.
In recent years, the firm has been appointed Lead Counsel or Co-Lead Counsel for Plaintiffs in several significant federal securities class actions, including: In re Lernout & Hauspie Speech Products NV Securities Litigation (D. Mass.) (settlements totaling over $180 million); In re Winstar Comm. Sec. Litig. (S.D.N.Y.) (settlements totaling over $30 million); In re TEAM Communications Securities Litigation (C.D. Cal.) (settled for $12.5 million); In re Recoton Securities Litigation (M.D. Fla.); In re Crayfish Inc. Securities Litigation (S.D.N.Y.) (settled for $9 million); In re Intershop Communications AG Securities Litigation (N.D. Cal.) (settled for over $3 million); In re Dreyfus Aggressive Growth Mutual Fund Litigation (S.D.N.Y.) (settled for $20.5 million); In re Baan Company Securities Litigation (D.D.C.) (settled for $32 million); Cheney v. Cyberguard Corp. (S.D. Fla.) (settled for $10 million); Cooper, et al. v. CPS Systems, Inc., et al. (N.D. Tex.) (settled for $3.44 million); In re Mitcham Industries Securities Litigation (S.D. Tex.) (settled for $2.7 million); Baker v. Health Management Systems, Inc., et al. (E.D.N.Y.) (settled for $2.45 million); Yuan v. Bayard Drilling Technologies, Inc., et al. (W.D. Okla.) (settled for $3.1 million); Varljen, et al. v. H.J. Meyers & Co., Inc., et al. (S.D.N.Y.) (settled for more than $5 million).
The firm has also played a leading role and obtained substantial recoveries in a number of consumer class actions. The firm's major consumer class action recoveries include: Baird, et al. v. Thomson Consumer Electronics, Inc., Case No. 00-L-000761 (Madison Cty., Ill.) (over $100 million settlement in cash and other benefits on behalf of persons who purchased certain RCA and GE television sets); Fundock, et al. v. Matsushita Electric Corporation of America and JVC Americas Corp., Docket No. L-7552-00 (Middlesex Cty., N.J.) (settlement for cash and enhanced warranty benefits on behalf of persons who purchased certain Panasonic and JVC DVD players).