Darren J. Check


  • Franklin & Marshall College
    B.A. 1996
  • Temple University Beasley School of Law
    J.D. 2000
  • Pennsylvania
  • New Jersey
  • New York
  • United States Supreme Court
  • USDC, Eastern District of Pennsylvania
  • USDC, Southern District of New York
  • USDC, District of New Jersey
  • USDC, District of Colorado

Darren J. Check, a partner of the Firm, is a national and international leader in shareholder and securities fraud litigation. In dozens of high-profile cases around the world, he has helped individual and institutional investors assert shareholder rights, recover losses and promote corporate accountability. 

Clients often call on Darren to analyze when they should take an active role in litigation. His extensive experience provides unique insight on when involvement can make a difference, and how to avoid leaving money on the table.

Darren is particularly known for helping institutional investors assert their rights in corporate fraud cases. His work has opened doors to loss recovery for investors on five continents, and includes some of the most significant international cases in history. For example, Darren helped secure a precedent-setting recovery for European investors in the Shell case, the first class-wide settlement of securities fraud claims under Dutch law.

Darren works with many types of institutional investors, including pension funds, mutual fund managers, insurance companies, asset managers, hedge funds and Sovereign Wealth Funds. His experience includes traditional class actions, direct actions, non-U.S. opt-in actions, fiduciary actions, and arbitrations, as well as portfolio monitoring and claims administration.  

Ongoing Cases
  • We represent Dutch National Pension fund PGGM Vermogensbeheer B.V., in an action against Hewlett-Packard Company (HP) alleging that HP and its officers and directors made false and misleading statements relating to the $11 billion acquisition and value of Autonomy Corporation plc. PGGM alleged, on behalf of the putative class, that the defendants knew or should have known that Autonomy was worth considerably less than the purchase price, and that HP shareholders were harmed by the fraud.  After several years of hard-fought litigation and settlement negotiations, HP agreed to settle the matter for $100 million in cash. The settlement was presented to the Court for preliminary approval on July 17, 2015 and final approval on November 13, 2015. The Court granted both motions and, on each occasion, complimented the terms of the settlement and PGGM's and KTMC's efforts, calling the settlement "an excellent resolution of this case" and "a very good result for their class."

  • Court-appointed Co-Lead Counsel, Kessler Topaz, has negotiated a $150 million cash settlement on behalf of a certified class of investors with defendant JPMorgan Chase & Co. (“JPMorgan”).  The settlement resolves claims arising out of the 2012 trading and risk management activities of JPMorgan’s Chief Investment Office (“CIO”) and its so-called “London Whale” trades.

    The case was initially filed in the United States District Court for the Southern District of New York in July 2012.  In August 2012, the Court appointed Kessler Topaz, along with two other law firms, to serve as Lead Counsel in the action.  In November 2012, Kessler Topaz filed a Consolidated Amended Class Action Complaint on behalf of the Lead Plaintiffs, including its client, Sjunde AP-Fonden or AP7, and the putative class of JPMorgan investors.  Following investigations by various governmental entities, including the Permanent Subcommittee on Investigations of the U.S. Senate, Kessler Topaz amended the operative complaint by filing a Second Amended Consolidated Class Action Complaint in April 2013 (“Complaint”). 

    The Complaint asserted claims pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder against JPMorgan and certain of its officers during the relevant period.  The Complaint alleged that defendants violated the federal securities laws by issuing false and misleading statements regarding the activities of the CIO and the extent of the risk posed by the London Whale trades within the CIO’s synthetic credit portfolio.  Specifically, the Complaint alleged that on April 13, 2012, when defendants characterized the London Whale trading as customary “hedging” activity, they knew or recklessly disregarded that the London Whale trades were undisclosed, high-risk proprietary trades.  Furthermore, the Complaint alleges that when analysts began expressing concern over the London Whale trading activities, JPMorgan CEO James Dimon fraudulently dismissed them as a "complete tempest in a teapot."  The alleged false and misleading statements caused the price of JPMorgan common stock to be artificially inflated during the Class Period and when it was disclosed in May 2012 that the London Whale trades had lost over $2 billion, the price of the stock declined significantly, causing damage to investors.

    Following more than three years of hard-fought litigation, including the Court’s certification of a class of investors, the parties agreed to mediate the case before the Honorable Daniel H. Weinstein (ret.).  The mediation process, which commenced in June 2015, was successful and culminated in the settlement.  The parties filed the settlement papers on December 18, 2015 and received preliminary approval of the settlement on January 19, 2016. The Court scheduled a final fairness hearing on May 10, 2016.

    Additional information concerning the settlement can be found at www.jpmorgansecuritieslitigation.com.

Representative Outcomes
  • Obtained a $2.4 billion settlement in litigation against Bank of America (BoA) relating to its merger with Merrill Lynch & Co. (Merrill). Our clients, Dutch National pension fund PGGM and Swedish National pension fund AP4, alleged that BoA gave shareholders false and misleading information about Merrill’s financial condition and obligations prior to a key vote on the merger. 

    The settlement, which included an undertaking to improve corporate governance policies, was the 6th-largest ever in a securities class action and the largest so far to come out of the subprime meltdown and credit crisis.

  • Represented the Alameda County Employees’ Retirement Association, former shareholders of Lehman Brothers Holdings, Inc., (Lehman) in a case alleging that Lehman made false and misleading statements prior to its unprecedented bankruptcy filing in 2008. 

    The statements, which concerned Lehman’s net leverage, risk management and concentration of risks, were made ’in registration statements and prospectuses used to market numerous offerings leading up to the bankruptcy filing. Despite Lehman’s bankruptcy, we were able to negotiate a $616 million settlement funded by Lehman’s underwriters, auditor and officers and directors. 

Speaking Engagements

Darren is a regular speaker at investor conferences around the world and has spoken at conference for NCPERS, Cii, International Corporate Governance Network, International Foundation, National Association of Public Pension Attorneys, and the National Association of State Treasurers.  In addition, Darren is a regular speaker and moderator at the Firm’s annual conferences, the Rights & Responsibilities of Institutional Investors in Amsterdam and the Evolving Fiduciary Obligations of Pension Plans in Washington, D.C.


“Getting Serious About ESG,” International Foundation of Employee Benefit Plans Benefits Magazine (April 2013)

“Living in a Post-Morrison World:  How to Protect Your Assets Against Securities Fraud,” National Association of Public Pension Attorneys Working Group (June 2012)

“Filing Proofs of Claim:  Recovering Money Rightly Owed to Pensioners,”  International Foundation of Employee Benefit Plans Benefits Magazine (February 2011)


Council of Institutional Investors – Market Advisory Committee
National Conference on Public Employee Retirement Systems (NCPERS)

Pennsylvania Association of Public Employee Retirement Systems – Advisory Committee Member

National Association of Public Pension Attorneys.

American Bar Association

National Association of Public Pension Attorneys.

Community Involvement

For over 10 years Darren has been very involved in the American Cancer Society’s Bike-A-Thon which takes place every year from Philadelphia to the Jersey Shore.  Darren has personally raised significant amounts of money for the event and for the past several years has captained Team KTMC which has been the top fundraising team for nearly a decade.