Institutional Investors
- Portfolio Monitoring
- Private Label Mortgage-Backed Securities Litigation
- Mortgage Repurchase Litigation
- Breach of Fiduciary Duty Cases
Keller Rohrback represents institutional investors with losses caused by fraud, manipulation, and other illegal practices relating to financial services and products. The firm prides itself on its ability to provide the highest quality representation in complex cases. Our clients include large governmental entities, and sophisticated asset managers and funds.
Keller Rohrback’s approach pays dividends – in the past few years alone, the firm has recovered hundreds of millions of dollars for institutional investors. We carefully investigate and evaluate potential claims, and, when suit is warranted, pursue our clients’ claims with passion, diligence, and savvy.
Fee Arrangements
We offer a variety of fee alternative to best suit our institutional clients, including contingent fee arrangements, blended fee arrangements, fixed fee arrangements, and regular hourly billing rates. Typically, in large, complex cases, our institutional clients elect to retain us on a contingent basis. We are paid if we win and strive to do so by being prepared, persuasive, and devoted to the best interest of our clients.
Portfolio Monitoring
Keller Rohrback’s portfolio monitoring services are designed to maximize the ability of the institutional investors, including public pension funds, mutual funds, and hedge funds, to protect their assets and recover losses caused by corporate malfeasance. To that end, using the sophisticated technologies and unique analyses, we conduct comprehensive reviews of our institutional clients’ portfolios on an ongoing basis to identify potential violations of federal, state, or international laws, such as directorial misconduct, fraud, corporate mismanagement, money laundering, breaches of fiduciary duty, prohibited transactions, antitrust violations, or other corporate misconduct, which may give rise to actionable claims in connection with the institution’s holdings or transactions. Keller Rohrback employs state-of-the-art monitoring tools and consults with experts across a variety of disciplines to determine whether potential claims are worth pursuing. We understand that institutional clients have specific needs, and as such, Keller Rohrback provides each client with customized reports, including any relevant damages calculations, as well as targeted assessments of potential claims and available legal options to enable our institutional clients to meet their fiduciary obligations of protecting their fund’s assets. We only recommend pursuing formal legal action on meritorious claims that could result in meaningful economic recoveries, or that are aimed to preserve or enforce an important legal right.
If a client determines to pursue litigation, Keller Rohrback, is uniquely qualified to serve as litigation counsel. Our nationally recognized Complex Litigation Group, with more than 40 attorneys, have a broad array of experience in securities, fiduciary, derivative, antitrust, transactional, ERISA, product liability, insurance, and other complex litigation, enabling us to provide comprehensive advice with respect to legal proceedings involving large stakeholders, numerous parties and complex questions of law and fact.
In addition, two other factors distinguish us from the typical class action practice focused on federal securities litigation. First, as part of a full-service law firm, our Complex Litigation Group can draw upon the expertise of other relevant practice areas, such as insurance coverage, banking, bankruptcy, business and finance. Second, our practice expands well beyond the typical federal securities class actions to include related areas of financial malfeasance. We do not focus exclusively on identifying 10b-5 litigation on behalf of our clients, but look to pursue class, individual or derivative claims as appropriate, utilizing all relevant areas of law. As a result, we have successfully represented pension funds and other institutional investors, not only in lawsuits brought under the Securities Act of 1933 and Securities Exchange Act of 1934, but also in cases involving financial fraud brought under state Blue Sky laws, antitrust statutes, state and federal consumer protection acts, and ERISA.
We provide our portfolio monitoring services without any cost to our institutional clients and welcome the opportunity to discuss your needs.
Private Label Mortgage-Backed Securities Litigation
Keller Rohrback represents the Federal Home Loan Banks of Boston, Chicago, and Indianapolis (“FHLBs”) in litigation against dozens of issuers, underwriters, and sponsors of private label mortgage-backed securities (“PLMBS”).
The FHLB complaints were filed in October 2010 and April 2011 in California, Illinois, Indiana, Massachusetts, and Washington. The complaints name over 120 defendants and involve over 200 securities with an original face value of $13 billion. The relief sought by the FHLBs includes rescission and damages under state blue sky laws and the federal securities laws, negligent misrepresentation, interest, and attorneys’ fees and costs.
Though the prosecution of the FHLBs’ claims, Keller Rohrback has recovered hundreds of millions of dollars for the FHLBs, and firm attorneys are continuing to aggressively press their claims against the remaining defendants.
Institutional Investor Mortgage Put-Back Litigation
Keller Rohrback currently represents investors who are pursuing repurchasing initiatives involving a large number of mortgage-backed securities trusts backed in whole or in part by Countrywide-originated loans, and a separate initiative pertaining to Merrill Lynch sponsored mortgage-backed securities trusts. Both of these initiatives seek to obtain compensation from Bank of America for losses to the trusts caused by representation and warranty breaches and servicing abuses. For more information about these initiatives, click on the attached Repurchase Memorandum.
Keller Rohrback was also a member of the three firm steering committee acting on behalf of certificate holders who have intervened in a proposed $8.5 billion settlement initiated by Bank of New York Mellon (“BNYM”), as Trustee of 530 separate Countrywide mortgage-backed securities trusts, in the matter of The Bank of New York Mellon v. Walnut Place LLC in New York Supreme Court. Keller Rohrback played a lead role in discovery and the eight week bench trial in New York over the fairness of the settlement. On January 31, 2014, the Court issued a decision overruling all objections to the settlement, except for the one pursued by Keller Rohrback pertaining to claims relating to the repurchase of modified loans.If you are interested in participating in RMBS put-back actions, or learning more about other mortgage-backed securities claims you may have, we encourage you to contact attorneys
If you are interested in participating in RMBS put-back actions, or learning more about other mortgage-backed securities claims you may have, we encourage you to contact attorneys Derek Loeser or Dean Kawamoto at 800.776.6044 or via email.
Institutional & Government Breach of Fiduciary Duty Investment Mismanagement Cases
Keller Rohrback represents ERISA Plan fiduciaries, institutional, and governmental entities in breach of fiduciary duty, breach of contract, unjust enrichment, and investment mismanagement cases. These cases have involved claims pertaining to abusive securities lending practices, manipulation of LIBOR and foreign currency exchange rates and practices, among other types of claims. Keller Rohrback’s Institutional Investor Team has decades of experience identifying and combating the many types of fraud and abuse that result in losses to asset managers, pension plans, and governmental entities.
