Global Investment Advisor – Summary Judgment and Attorneys’ Fees Award in Enron Securities Class Action

Successful defense of a global investment advisor targeted in a high-profile ERISA and securities class action filed in the wake of Enron’s collapse. The lawsuit sought to hold the client responsible for the Texas-based energy company’s massive fraud based on the argument that one of its executives had sat on Enron’s board. In defense of the client, Jason uncovered and was central to the creative use of a rarely-used provision of Section 11(e) of the Securities Act of 1933 which resulted in summary judgment dismissing all claims along with an award of attorneys’ fees, based on the grounds that the case was pursued after it became clear it was without merit. The ruling ordered the penalty assessed to be paid not by the plaintiff, but by the plaintiff’s counsel, a first-of-its-kind decision that garnered extensive media coverage, including The New York Times article "In Unusual Ruling, Law Firm Is Told to Pay Opponent's Legal Fees in Enron Case.” (Prior firm experience)