Joshua E. D'Ancona

Partner

EDUCATION
  • Wesleyan University
    B.A. 1999, with honors
  • Temple University Beasley School of Law
    J.D. 2007, magna cum laude, Received Hon. S.R. Beckett Memorial Scholarship and Law Faculty Scholarship. Member of the Temple Law Review and Moot Court Honors Society
ADMISSIONS
  • Pennsylvania
  • New Jersey
  • USDC, Eastern District of Pennsylvania
  • USDC, District of New Jersey
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Joshua E. D’Ancona, a partner of the Firm, litigates complex matters on behalf of institutional and individual clients. Josh focuses his practice on cases involving violations of federal and state laws prohibiting securities fraud, as well as claims for breach of fiduciary duty, breach of contract, fraud and negligence, and breaches of state statutes established for the protection of financial institutions and individuals.  

Josh has litigated in various federal and state courts, and before the American Arbitration Association.  Josh served as a law clerk to the Honorable Cynthia M. Rufe of the United States District Court for the Eastern District of Pennsylvania from 2007 to 2009.

Experience
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.

  • Served as co-lead counsel on behalf of Norwegian mutual fund manager SKAGEN A/S in this securities fraud class action against Satyam Computer Services Limited (Satyam) and certain of its former officers and directors and its former auditor PricewaterhouseCoopers International Ltd. (“PwC”), relating to Satyam’s disclosure that its former chairman had falsified the company’s financial reports by inflating reported cash balances by more than $1 billion.

    The news caused the price of Satyam’s common stock and American Depository Shares to collapse. On behalf of the defrauded investors, we secured a $125 million settlement from Satyam as well as $25.5 million settlement from PwC, which allegedly signed off on the misleading audit reports. 

  • Arbitrator’s award of $75 million for Transatlantic Holdings, Inc., and its subsidiaries (TRH) in a case alleging that American International Group, Inc. (AIG) breached its fiduciary and contractual duties and committed fraud in connection with its securities lending program.

    Until June 2009, AIG was TRH’s majority shareholder and administered TRH’s securities lending program.  We alleged that AIG breached its fiduciary obligations by imprudently investing the majority of the cash collateral obtained from TRH under its lending program in risky mortgage-backed securities, including Alt-A and subprime investments. We further alleged that AIG concealed the extent of TRH’s subprime exposure and that when the collateral pools began experiencing liquidity problems in 2007, AIG unilaterally carved TRH out of the pools so that it could provide funding to its wholly owned subsidiaries to the exclusion of TRH.

Awards/Ranking

Pennsylvania “Super Lawyers” Rising Star in the area of Securities Litigation in 2013, 2014 and 2015

Community Involvement

Josh supports the Public Interest Law Center of Philadelphia and charitable organizations including Philabundance.