Who We Represent

Wexler Wallace is currently representing shareholders in litigation involving such notable companies as AIG; Aon; Countrywide; IndyMac Bank Corp.; Sallie Mae; Sears; and Wellpoint. Some of these are direct shareholder suits; others relate to employee stock option and pension benefits which have been squandered. Wexler Wallace is currently representing:

employees who are participants in the AIG Incentive Savings Plan in a suit alleging that AIG and its officers and directors breached their fiduciary duties under ERISA by withholding material information about AIG's business and current and future financial prospects.
employees of WellPoint who are participants and beneficiaries in the WellPoint 401(k) Retirement Savings Plan seeking to recover losses to the Plan stemming from breaches of fiduciary duty of WellPoint, its executives and directors, all of whom were fiduciaries to the Plan under ERISA, including misrepresentations and failures to disclose adverse developments to WellPoint which would increase its costs.
former employees of IndyMac Bancorp who are participants and beneficiaries in the IndyMac Bank, F.S.B. 401(k) Plan seeking to recover losses to the Plan stemming from the failure of IndyMac, its officers and directors, who are Plan fiduciaries, to act solely in the interest of the Plan and to exercise the required skill, care, prudence and diligence in administering the Plan and the Plan's assets, including material misrepresentations regarding IndyMac's understanding standards, loss reserves and capital base to weather the deteriorating real estate and credit markets.
employees of Sallie Mae Corp. who are participants and beneficiaries in the Sallie Mae 401(k) Savings Plan seeking to recover losses stemming from the breaches of fiduciary duties of Sallie Mae, its officers and directors, including materially false and misleading statements regarding Sallie Mae's business and financial results.
employees of Countrywide Financial Corporation who are participants and beneficiaries in the Countrywide Financial Corporation 401(k) Savings and Investment Plan seeking to recover losses stemming from breaches of fiduciary of Countrywide and its officers and directors, including materially false and misleading statements regarding Countrywide's involvement in the subprime mortgage market.
shareholders of Sears in a securities fraud class action, alleging that Sears made material omissions and misrepresentations in press releases regarding its acquisition by Kmart, which had the effect of artificially deflating the price of Sears' securities and maintaining their trading level.
shareholders of Aon Corporation in a shareholder derivative action brought on behalf of Aon against Aon's officers and directors, seeking to recover damages to Aon as a result of the improper conduct of its officers and directors, including the collection of continent commission payments from insurance companies. As a result of this misconduct, Aon has been exposed to significant liability, and has had to pay millions of dollars in settlements with state attorney generals.

Wexler Wallace is also lead counsel in a matter involving the taking private of the Archstone-Smith Trust by the Tishman Speyer Development Corp. - Lehman Bros. Partnership, an event which caused severe negative tax consequences to investors whose estate plans were obliterated by the transaction. The firm has brought suit by members of the U.S. Sugar Employee Stock Ownership Plan related to the directors' undervaluation of and underpayment for retirees' shares. Wexler Wallace is also involved in significant municipal bond litigation that could have a substantial impact on the ability of states to provide and pay for needed public services.

For further information please contact Ken Wexler.