Mr. Albert has been involved in some of the most high-profile securities class action and shareholder derivative cases in the nation. Mr. Albert has litigated numerous types of securities actions and insider trading cases, including ’33 and ’34 Act claims, fraud and non-disclosure cases under the California Securities Act and sister-state Blue Sky laws seeking rescission, rescissory damages and related relief, as well as corporate governance litigation, including business judgment rule cases, fiduciary breach cases, and related shareholder derivative actions.

On the defense side, Mr. Albert has represented issuers of securities, along with their officers and directors, in numerous class action securities fraud cases. Mr. Albert has an outstanding track record of resolving these cases by obtaining dismissals on the pleadings, defeating class certification, and winning summary judgments. Some of these cases include:

• In re Bergen Brunswig Corp. Sec. Litig. Team leader in defense of Bergen Brunswig Corporation and various Bergen Trust issuers in multiple consolidated and coordinated securities class action proceedings pending in various district courts across the nation, alleging approximately $1.5 billion in damages against the company. Obtained favorable settlement for the institutional defendants after motion practice.


• In re Bergen Brunswig Corp. Derivative Litig. Team leader in defense of senior officers and directors against derivative action alleging breach of fiduciary duties, negligence and insider trading. Successfully moved to dismiss the action.


• In re LIVE Film & Media Corp. Sec. Litig. Team leader in defense of the senior officers and directors of LIVE Entertainment and its successor company in several consolidated and coordinated federal class action cases alleging violations of federal and state securities laws and common law fraud, arising from alleged accounting irregularities in connection with certain acquisitions and divestitures of subsidiary entities. Briefed and argued successful motions to dismiss the actions for failure to prosecute and for failure to state a claim on res judicata grounds, which resulted in the complete dismissal of all of the actions, with prejudice.


• In re Vestron Inc. Foreign Video Distribution Litig. Defended Vestron, Inc., and its successors in a class action suit in New York state court alleging that Vestron misallocated the proceeds from the sale and licensing of video packages distributed internationally. Prepared the appellate brief challenging an adverse state court ruling. Devised the successful strategy of requesting that the prior bankruptcy case of Vestron be reopened to obtain an injunction by the Bankruptcy Court to stay the state court class action proceeding.

On the plaintiffs’ side, Mr. Albert has represented bond funds, pension funds, insurance companies and other institutional investors in various state and federal class action proceedings. Mr. Albert has played a key role in recovering hundreds of millions of dollars for investors defrauded by securities schemes. Some of these cases include:

• Transamerica Fin. Life Ins. Co. v. Merrill Lynch & Co, et al. Represented life insurance company and related funds in prosecuting securities fraud claims against investment banks that sold Enron-related securities by means of offering circulars that contained material misstatements and omissions. Obtained very favorable settlement for Plaintiffs after defeating Defendants’ challenges to the complaint.


• AUSA Life Ins. Co. v. Citigroup, Inc., et al. Represented life insurance company and related funds in asserting claims for rescission of bond purchases from initial purchasers and broker dealers who misrepresented the risks of the bonds. Achieved very favorable settlement for Plaintiffs after motion practice.


• Principal Global Investors v. Citibank, N.A., et al. Represent bond funds and pension funds in prosecuting claims under the federal securities laws and the Iowa Securities Act against investment banks that promoted, offered for sale and sold debt securities by means of prospectuses that were inaccurate and misleading. Obtained very favorable settlement for Plaintiffs after defeating Defendants’ challenges to the complaint.


• OCM Opportunities Fund v. Deutsche Banc et al. Represented investment group against various broker dealers asserting claims for rescissory relief and damages under the California Securities Act, in connection with various securities that were offered for sale and sold on the basis of inaccurate and misleading information.


• In re Counsel Corp. Sec. Litig. Represented Bergen Brunswig Corp. (now known as AmerisourceBergen) in unfair competition and securities fraud claims against Counsel Corp. in connection with an acquisition of a drug distribution company. Achieved favorable settlement for client after extensive discovery and motion practice.