Securities Fraud Lawyer - First Commodity Corporation of Boston Customer Accounts Litigation

Shapiro Haber & Urmy LLP successfully represented a class that was victimized by a "boiler room" commodities trading operation. The corporate defendant, First Commodity Corporation of Boston ("FCCB"), had no appreciable assets; rather, the major assets were in the hands of two owners of FCCB, and proving liability against them was a very difficult task. An extremely complex settlement was reached, involving unusual class action issues, including the limited use of a mandatory class to preclude future punitive damage claims. This measure was required in order to persuade the owners to fund the settlement.