Richard A. Russo, Jr., a partner of the Firm, concentrates his practice in the area of securities litigation, and principally represents the interests of plaintiffs in class actions and complex commercial litigation.
Rick specializes in prosecuting complex securities fraud actions arising under the Securities Exchange Act of 1934 and the Securities Act of 1933, and has significant experience in all stages of pre-trial litigation, including drafting pleadings, litigating motions to dismiss and motions for summary judgment, conducting extensive document and deposition discovery, and appeals.
Rick has represented both institutional and individual investors in a number of notable securities class actions. These matters include In re Bank of America Securities Litigation, where shareholders’ $2.43 billion recovery represents the sixth largest recovery ever achieved in a securities class action and the largest recovery arising out of the 2008 subprime crisis; In re Citigroup Inc. Bond Litigation, where the class’s $730 million recovery was the second largest recovery ever for claims brought under Section 11 of the Securities Act of 1933; and In re Lehman Brothers, where shareholders recovered $616 million from Lehman’s officers, directors, underwriters and auditors following the company’s bankruptcy filing.
Rick is currently representing shareholders in high-profile securities fraud actions against Barclays Bank PLC, Ocwen Financial Corp., and Precision Castparts Corp., and is prosecuting numerous insurance class actions related to the practice of depreciating labor costs when adjusting homeowners’ insurance claims. Rick has also assisted in prosecuting whistleblower actions and patent infringement matters.
In 2016, Rick was selected as an inaugural member of Benchmark Litigation’s Under 40 Hot List, an award meant to honor the achievements of the nation’s most accomplished attorneys under the age of 40. Rick has also been selected by his peers as a Pennsylvania Super Lawyers Rising Star on five occasions.
Benchmark Future Stars, 2020
Benchmark Litigation Under 40 Hot List, 2020
Benchmark Litigation Under 40 Hot List, 2016
Pennsylvania Super Lawyers Rising Star, 2012-2016