Edward Y. Kroub
Edward Y. Kroub is Consumer Attorneys LLP's most seasoned litigation partner and co-chairs several of the firm’s consumer finance departments.
A nationally recognized class-action litigation attorney, Mr. Kroub has a long track record of working on behalf of plaintiffs in antitrust and securities cases that have resulted in billion and multi-million dollar settlements on behalf of individual and class-action clients -- and whose work has put him face-to-face with the infamous white-collar fraudster Bernie Madoff for a jailhouse interview as part of one of his cases.
Mr. Kroub was admitted to practice law in New York in 2005 after earning his law degree from New York Law School in Manhattan, where he was the recipient of the Bert and Blanche Vann Memorial Scholarship.
From there until 2007, he was associated with Lovell Stewart Halebian Jacobson LLP and served on litigation teams that succeeded in class-action antitrust, commodities manipulation and securities cases.
The results of class-action cases brought during Mr. Kroub’s tenure with Lowell Stewart include:
- In re TFT-LCD (Flat Panel) Antitrust Litigation (resulting in a $1.1 billion total settlement for purchasers harmed by a price-fixing conspiracy by TFT-LCD manufacturers).
- In re Natural Gas Commodities Litigation ($101 million settlement on behalf of class members).
- Kohen v. Pacific Investment Management Co. ($118 million settlement, currently the second-largest class action payout in the history of the Commodity Exchange Act).
- Fiala v. Metropolitan Life Insurance Company (combined $50 million combined settlement million for plaintiffs in federal and state cases).
- In re IPO Antitrust Litigation (federal antitrust class-action brought on behalf of late-1990s “dot-com” boom investors alleging a Wall Street scheme to defraud shareholders that went all the way to the U.S. Supreme Court in 2007).
Mr. Kroub then went on to spend seven years with Robbins Geller Rudman & Dowd LLP -- the largest plaintiffs' side class action litigation firm in the U.S -- representing investors and public and multi-employer pension funds in securities and Employment Retirement Securities Act class-action cases, as well as corporate takeover and shareholder derivative suits against big-time, Fortune 500 companies and feeder funds into Mr. Madoff’s securities.
During Mr. Kroub’s tenure with Robbins Geller, results from class-action cases included:
- Litwin v. Blackstone Group, L.P. (securities class-action suit against one of the world’s largest private equity firms that resulted in a $85 million settlement just before going to trial).
- In re Tremont Securities Law, State Law and Insurance Litigation (a case in which Mr. Kroub served as lead counsel for investors in a family of Madoff feeder-funds and helped secure a settlement of more than $100 million).
- In re Delphi Fin. Grp. Shareholders Litigation ($49 million post-merger settlement for Class A Delphi shareholders).
- In Re: Meridian Funds Group Securities & ERISA Litigation (securing a $6.1 million recovery for investors in a Madoff feeder fund after fighting off a motion to dismiss to keep the case alive).
- In re Austin Capital Mgmt., Ltd., Securities & ERISA Litigation (the lawsuit for which Mr. Kroub interviewed Mr. Madoff while he was in prison -- and helped win a $6.85 million recovery against Austin Capital and its parent corporation Key Corp based on their investment in one of the Madoff feeder funds. Mr. Kroub recovered almost 90 percent of investors’ losses in the case).
- In re Celestica, Inc. Securities Litigation (which resulted in a $30 million settlement on behalf of institutional investor and class-action plaintiffs alleging federal securities laws violations).
- In re Chemed Corp. Securities Litigation ($6 million cash settlement on behalf of institutional investor plaintiffs and class-action plaintiffs alleging federal securities law violations).
- In re Virgin Media Inc. Shareholders Litigation (a lawsuit challenging the sale of Virgin Media to Liberty Global, Inc., in which the defendants ultimately agreed to reduce the protections that impaired competing bids -- which eased restrictions on Virgin Media sharing due diligence information with other potential bidders, limiting Liberty’s matching rights to only one round, and a $100 million reduction in the termination fee).
- Krawczynski v. Kayak Software Corp. (which resulted in disclosures for stockholders who challenged Priceline's acquisition of Kayak).
- In re Sunoco, Inc. Shareholders Litigation (settlement requiring Sunoco to update its proxy statement to correct material omissions).
Mr. Kroub most recently worked as a partner at Lovell Stewart, where he served as vice chair of the firm’s securities litigation department. While working in that role, he led the firm’s institutional investor outreach program, in which he advised investors and pension funds on matters relating to corporate fraud in domestic securities markets.
· New York
· New Jersey
· United States Court of Appeals for the Second Circuit
· United States District Courts for the Southern and Eastern Districts of New York
· United States District Court for the District of New Jersey
· United States District Court for the Eastern District of Wisconsin
· United States District Court for the Eastern District of Missouri
- · New York Law School, J.D., 2004
- · Recipient of the Bert and Blanche Vann Memorial Scholarship
- · Brooklyn College, B.A., 2001, with honors