Mr. Penny has significant experience prosecuting antitrust and consumer claims. He represents union health benefit funds in generic “pay-for-delay” antitrust actions; small businesses and consumers in direct and indirect antitrust litigation and consumers in false advertising and consumer fraud class actions. He has served as lead or co-counsel in Mirakay, et al. v. Dakota Growers, et al., (D.N.J. 2013); Logue v. West Penn Multi-Listing Service (W.D. Pa. 2010); Allan v. Realcomp II (E.D. Mich. 2010); Boland v. Columbia Multi-Listing Service (D.S.C. 2009); and Robertson v. Hilton-Head Multi-Listing Service (D.S.C. 2009). He has also been appointed to the executive committees of several recent antitrust cases. Mr. Penny has also litigated numerous securities fraud class actions over the course of his career. He was a key member of the plaintiff’s team that prosecuted In re Broadcom Securities Litigation which resulted in a settlement of $150 million for the class, and he participated in the AOL Time Warner Securities Litigation which recouped of over $2.5 billion for investors. Mr. Penny was also one of the lead attorneys representing the classes in a number of securities fraud actions arising out of stock option backdating, including, In re Monster Worldwide, Inc. Securities Litigation ($47.5 million settlement), In re Mercury Interactive Securities Litigation ($117.5 million settlement) , In re SafeNet, Inc. Securities Litigation ($25 million settlement), Ramsey v. MRV Communications et al. ($10 million settlement), and In re Semtech Securities Litigation ($20 million settlement).
In 2015, Mr. Penny was one of four finalists for the American Antitrust Institute’s Enforcement Award for Outstanding Antitrust Litigation Achievement by a Young Lawyer for his work on Allen, et al. v. Realcomp Ltd., et al. Mr. Penny has also been named a Super Lawyer or Rising Star by Super Lawyers every year since 2010.
Paul Scarlato has represented the interests of investors since 1989. Among his more recent efforts are the Deutsche Mortgage Pass-Through Securities Litigation ($32.5 million settlement for purchasers of mortgage backed securities ); Lehman Brothers Equity/Debt Securities Litigation (settlements over $500 million for Lehman debt and equity purchasers); Velti plc Securities Litigation (partial settlement of $9.5 million for Velti stock purchasers); Hewlett Packard Securities Litigation ($57 million settlement for HP common stock purchasers); In Compellent Technologies, Inc. Shareholder Litigation (settlement in connection with proposed acquisition of Compellent Dell, Inc. included key deal improvements; elimination of “poison pill” and standstill agreement with potential future bidders, and a reduction of termination fee); and In re Boeing Derivative Litigation (following a series of government scandals involving Boeing; settlement for shareholders included allocation of $29 million to establish and innovate ethics and compliance programs, and required the board to examine company’s entire governance structure). Paul has an undergraduate degree in accounting and was part of the tax department of a “Big Six” accounting firm where he provided a broad range of services to large business clients in a variety of industries prior to entering the securities litigation practice.
Law Clerk, The Honorable Nelson Diaz, Court of Common Pleas of Philadelphia County, 1986-1987 Law Clerk, The Honorable James T. McDermott, Pennsylvania Supreme Court, 1987-1988
NON-CLASS ACTION EXPERIENCE:
Following his judicial clerkships, Mr. Scarlato became a member of the tax department of a “Big Six” accounting firm where he provided a broad range of services to large business clients many industries.
Throughout Mr. Goldman’s professional career, he has concentrated his practice in complex class action litigation involving violations of state consumer-protection statutes and privacy protection, the federal securities laws, and federal and state antitrust laws.
Mr. Goldman has represented victims of identity theft and data breaches, holding companies including Anthem, Inc., United Shore Financial Services, Xerox Mortgage Services, Athens Orthopedic Clinic, Community Health Systems, and Intuit accountable for failing to protect his clients’ personal information.
He has represented victims of Ponzi schemes seeking to hold financial institutions accountable for failing to prevent their customers, the Ponzi schemers, from taking advantage of the victims of the schemes. Mr. Goldman was also one of the attorneys involved in two of the largest antitrust recoveries ever obtained for small businesses and individuals, In re Brand Name Prescription Drug Antitrust Litigation ($723 million) and In re NASDAQ Market Makers Antitrust Litigation ($1.027 billion).
Mr. Goldman served as lead counsel in consumer fraud cases successfully brought against a number of life insurance companies, including Midland Life and Valley Forge Life for charging premiums for periods of time when no coverage was provided. He has represented individual and institutional investors as lead or co-lead counsel in numerous securities fraud cases, including In re Accuray, Inc. Securities Litigation ($13.5 million settlement), In re K12 Securities Litigation ($6.75 million recovery), In re Coinstar Securities Litigation ($6 million settlement) and In re Spectranetics Securities Litigation ($8.5 million settlement). Mr. Goldman also participated as co-counsel in the AOL Time Warner Securities Litigation that recouped over $2.5 billion for investors.