Naumon A. Amjed

Partner

EDUCATION
  • Temple University
    B. B. A. cum laude
  • Villanova University School of Law
    J.D. cum laude
ADMISSIONS
  • Pennsylvania
  • Delaware
  • New York
  • USDC, Eastern District of Pennsylvania
  • USDC, District of Delaware
  • USDC, District of Colorado
  • USDC, Western District of Arkansas
  • USDC, Eastern District of Arkansas
  • USDC, Eastern District of Michigan
  • USDC, Southern District of New York
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Naumon A. Amjed, a partner of the Firm, concentrates his practice on new matter development with a focus on analyzing securities class action lawsuits, direct (or opt-out) actions, SEC whistleblower actions, breach of fiduciary duty cases, antitrust matters, and oil and gas litigation.   

Naumon, along with Sean M. Handler, oversees the Firm’s lead plaintiff practice group and frequently counsels the Firm’s clients on litigation options in the United States and abroad and has significant experience litigating actions in state and federal courts, as well as representing clients pursuing claims in international actions.  

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.

  • Represented the Miami Beach Employees’ Retirement Plan, the City of Tallahassee Pension Plan, the Philadelphia Public Employees Retirement System and the Southeastern Pennsylvania Transportation Authority Pension Fund in pursuing claims against Citigroup for concealing its exposure to subprime mortgage debt—exposure that, once revealed, led to massive investment losses during the 2008 financial crisis. 

    Investors’ claims resulted in a historic settlement of $730 million, the second largest recovery ever under Section 11 of the Securities Act.   

  • 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

Naumon has lectured in the United States and Europe on a variety of topics including, among others, shareholder litigation and emerging trends, the manipulation of the London Interbank Offered Rate (LIBOR) by Panel Banks, the manipulation of foreign exchange rates by custodian banks, litigation involving securities lending programs, manipulation in the sale of closed end funds and the manipulation of royalty deductions by oil and gas companies drilling in the Marcellus Shale.  Naumon has also taught CLE courses on shareholder litigation.   

Awards/Ranking

Benchmark Future Stars, 2020 

Lawdragon 500 Leading Plaintiff Financial Lawyer, 2019