High-Yield Bond Litigation

Represented institutional investors in claims for fraud against underwriters of high-yield bonds issued by a Thai Steel Mill. Ultimately recovered by settlement 80% of their out-of-pocket damages. In the course of the litigation, we established, in two separate published opinions, that a sophisticated investor is not required to conduct an independent investigation as to the accuracy of statements made in an offering memorandum when there is nothing obviously suspicious about those statements.