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Waite, Schneider, Bayless & Chesley has prosecuted, defended, and settled high-profile securities fraud class actions in federal courts and shareholder derivative actions in state courts. Since the passage of the Private Securities Litigation Reform Act of 1995, which sought to encourage institutional investors to become more active in securities class action litigation, the firm has represented prominent institutional investors in securities fraud litigation.
Securities Class Action Services "SCAS 50 Power Rankings" rates Waite, Schneider, Bayless & Chesley as 16th among the top 50 law firms in terms of securities class action settlement amounts during the years 2003 to 2006.
The firm has extensive experience in federal securities laws and regulations, as well as the rules and regulations of the various stock exchanges.
Recent specific cases:
- Waite, Schneider, Bayless & Chesley represented the Ohio Public Employees Retirement System and the State Teachers Retirement System of Ohio, and was lead counsel for the class, achieving a $410 million cash settlement of the securities fraud class action brought against Freddie Mac and some of its senior officers. This settlement was the 9th largest national securities settlement at the time.
- The firm is also currently lead counsel in the federal securities fraud class action cases pending against another government-sponsored entity, Fannie Mae.
- The firm is also lead counsel for the class in a securities fraud case against Putnam Investments and Prudential Securities, Inc., regarding the "market timing" of Putnam mutual fund transactions.
- Waite, Schneider, Bayless & Chesley attorneys successfully represented shareholders in a class action against DPL, Inc., and obtained a $145.5 million global settlement of federal and state cases for their clients. It’s the 21st largest national securities settlement ever.
- The firm is co-lead counsel in the newly filed federal securities fraud class action against Freddie Mac arising from subprime mortgage lending practices.
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