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Adam Savett

Adam Savett

Savett Law Offices, LLC
  • Consumer Law, Securities Law, Antitrust Law...
  • District of Columbia, New Jersey, Pennsylvania, Virginia
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Summary

Adam Savett is a complex litigator who represents small businesses, institutional investors, and government entities, in securities, antitrust, consumer protection, and other complex litigation. Recently, Adam was named one of the 100 Lawyers You Need to Know in Securities Litigation by Lawdragon Magazine. He has published a number of articles and original research pieces on class action and securities litigation topics and is also a member of the National Association of Public Pension Attorneys (NAPPA), the Professional Liability Underwriting Society (PLUS), SIFMA's Corporate Actions Division, the American Bar Association (ABA), and the Hedge Fund Business Operations Association (HFBOA). Adam is a nationally recognized expert on complex litigation. He is a frequent speaker, author, and commentator on securities litigation and class actions. His comments have appeared in a wide variety of publications, such as The New York Times, Wall Street Journal, CFO Magazine, and Pensions & Investments.

Practice Areas
  • Consumer Law
  • Securities Law
  • Antitrust Law
  • Business Law
Fees
  • Free Consultation
  • Contingent Fees
Jurisdictions Admitted to Practice
District of Columbia
District of Columbia Bar
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New Jersey
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Pennsylvania
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Virginia
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D.C. Circuit
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Languages
  • English: Spoken, Written
Professional Experience
Managing Partner
Savett Law Offices, LLC
- Current
CEO & Founder
TXT Capital, LLC
- Current
Director of Securities Class Actions
Claims Compensation Bureau, LLC
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Director, Securities Class Action Services
MSCI / RiskMetrics Group / Institutional Shareholder Services (ISS)
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Senior Associate
Mehri & Skalet, PLLC
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Associate
Cohen Milstein Sellers & Toll PLLC
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Associate
Finkelstein Thompson LLP
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Associate
Savett Frutkin Podell & Ryan
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Education
Villanova University School of Law
J.D.
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Villanova University School of Law Logo
American University
B.A. | Broadcast Journalism
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Awards
Top Contributor - Class Actions
Avvo
Top Contributor - Class Actions
Avvo
Top 5% most viewed profile
LinkedIn
Top Contributor - Class Actions
Avvo
National Finalist - Leading Lawyers in America
Lawdragon Magazine
Top 100 Legal Blogs
LawSchool.org
Top 2500 Blogs
ABA Journal
100 Lawyers You Need to Know in Securities Litigation
Lawdragon Magazine
Professional Associations
Hedge Fund Business Operations Association
Member
- Current
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SIFMA's Corporate Actions Division
Member
- Current
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National Association of Public Pension Attorneys
Member
- Current
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Professional Liability Underwriting Society
Member
- Current
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District of Columbia Bar
Member
- Current
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American Bar Association
Member
- Current
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Publications
Articles & Publications
Securities Class Action Trials in the Post-PSLRA Era
KCC
Update on the Options-Backdating Class Actions
KCC
A Billion Here, A Billion There: Solving the Historical Data Problem and Recouping More in Securities Litigation
RiskMetrics Group
SCAS 50 for 2008
RiskMetrics Group
The Subprime Meltdown Heads to Court
RiskMetrics Group
The Importance of Best Practices & Procedures in Securities Class Action Settlements
HFMWeek
Globalization in Securities Class Actions
RiskMetrics Group
SCAS 50 for 2007
RiskMetrics Group
Accountability Goes Global: International Investors and US Securities Class Actions
Institutional Shareholder Services
Securities Class Action Services SCAS 50 Power Rankings
RiskMetrics Group
Current Trends In Motion Practice In Federal Securities Class Actions
23rd Annual Institute On Federal Securities
Some Recent Developments In Securities Litigation
22nd Annual Institute On Federal Securities
Speaking Engagements
Securities Litigation Post-Halliburton, 11th Annual National Directors & Officers Insurance ExecuSummit
ExecuSummit
D&O: Regulatory, Enforcement & Securities Litigation Update, 10th Annual National Directors & Officers Insurance ExecuSummit
ExecuSummit
Securities Class Actions: Nuisance or Opportunity?, FRT Webinars
FRT
The Evolving Securities Class Action Industry, FRT Webinars
FRT
Websites & Blogs
Website
Website
Legal Answers
36 Questions Answered

Q. Are cash payments individual awards in a settlement are they divided between each class member in a lawsuit !
A: There are several different ways for class action settlement funds to be divided and distributed among class members. The distribution method is always outlined in the settlement agreement and must be approved by the Court overseeing the case. Generally, the agreement, as well as a copy of the formal notice sent to class members will be posted on a website for the public and class members to view. Common Fund – These types of settlements are more typical of antitrust, securities, and employment class actions. In these, claiming class members typically receive shares of the common fund pursuant to some formula, such that the amount each claimant receives is a function of the number of claims, and the entire net settlement fund is distributed. The attorneys that handled the case usually get their fees as a percentage of the common fund. Pro Rata – This allocation method is often used in common fund settlements and simply divides the net settlement amount proportionately among the class members. A class action notice sometimes includes the estimated recovery amount per class member, with qualifying language that explains the amount may change. So if there is a $100 fund available to pay claims, and there are 100 valid claims filed, each with an equal size claim, then each class member would get $1. Claims Made – Claims-made settlements are often used in the consumer class action context. In a claims-made settlement, the defendant will pay the class an amount equal to the total value of all the valid claims. In some cases, the defendant agrees to pay only a fixed amount, and if the value of the valid claims exceeds the fixed amount there will be a provision for an adjustment of the payment amounts, typically a pro rata reduction. Additionally, a defendant typically pays class counsels’ fees and costs separately. Hope that helps.
Q. claim process determines individual awards is the total cash payment in a settlement is divided or what each person gets
A: There are several different ways for class action settlement funds to be divided and distributed among class members. The distribution method is always outlined in the settlement agreement and must be approved by the Court overseeing the case. Generally, the agreement, as well as a copy of the formal notice sent to class members will be posted on a website for the public and class members to view. Common Fund – These types of settlements are more typical of antitrust, securities, and employment class actions. In these, claiming class members typically receive shares of the common fund pursuant to some formula, such that the amount each claimant receives is a function of the number of claims, and the entire net settlement fund is distributed. The attorneys that handled the case usually get their fees as a percentage of the common fund. Pro Rata – This allocation method is often used in common fund settlements and simply divides the net settlement amount proportionately among the class members. A class action notice sometimes includes the estimated recovery amount per class member, with qualifying language that explains the amount may change. So if there is a $100 fund available to pay claims, and there are 100 valid claims filed, each with an equal size claim, then each class member would get $1. Claims Made – Claims-made settlements are often used in the consumer class action context. In a claims-made settlement, the defendant will pay the class an amount equal to the total value of all the valid claims. In some cases, the defendant agrees to pay only a fixed amount, and if the value of the valid claims exceeds the fixed amount there will be a provision for an adjustment of the payment amounts, typically a pro rata reduction. Additionally, a defendant typically pays class counsels’ fees and costs separately. Hope that helps.
Q. A class action notice went to email spam and I have missed the opt-out date by less than 2 months. Can I still opt-out?
A: Generally no, but you can try. Part of it depends on the type of case, and part of it depends on how far along the case is. Sometimes, you will get a second opportunity to opt-out later on. If you still want to opt-out, you need to follow the directions in the class action notice. If your opt-out request is denied, you can petition the Court (respectfully) to reconsider the decision of the notice administrator. But the real question is why do you want to opt-out? Unless you suffered large individual damages, you are almost always going to be better off staying in the class action instead of hiring (and paying) your own lawyer to pursue an individual case. If you don't like the case, or the settlement (you don't specify if the notice was simply that a class was certified or that a settlement was reached) then you can object instead. Again, follow the directions in the class action notice. Best of luck.
Q. Can I file for civil damages against a fastfood restaurant in north Carolina for fraud and deceptive price advertising?
A: Based on these limited facts, I have a guess as to what is going on. The advertisement you saw was probably a national ad for the fast food chain, or even a regional ad. At the bottom of the print ad, or at the end of the commercial, words along the lines of "at participating locations only" would appear or be spoken. There are many articles discussing this issue, such as here - business.time.com/2012/06/06/why-restaurants-use-the-at-participating-locations-only-disclaimer/ The location you are visiting is likely not participating. This disjunct comes from how the fast food industry operates - with the vast majority of locations operated by an independent franchisee. In general the agreements between the fast food company and their independent franchisees spell out which promotions they have to participate in (e.g. Dollar Value Menu, or an instant win piece on to-go cups) but leave it to the discretion of the independent franchisee as to whether they participate in other promotions. The independent franchisee may choose to participate (and take advantage of the ad campaign promoting the sale) or may choose not to participate (and risk alienating customer, but also earning more revenue on the "sale" items). If this is not the case, and you saw an ad in the store for example, and the store refused to honor the pricing, I would document the issue (pictures are helpful) and send a respectful note to the corporate offices. They will often step in and get to the root of the problem and may even choose to compensate you for your inconvenience. Best of luck.
Q. In Louisiana, how much can an Auto Repair shop exceed the price estimate? I’ve read it’s 10% in most states.
A: In Louisiana, it depends on whether you asked for (and received) a written estimate. The Louisiana Motor Vehicle Commission has rules and regulations that note that an original estimate should not exceed the actual cost by 25%. You can find those rules here: http://www.lmvc.la.gov/PDF/LMVC-RulesANDRegulations.pdf But there are several things to keep in mind, such as if you didn't ask for a written estimate, then the rule likely doesn't apply, or if you authorized more work, even orally, during the repair process, then the 25% would not apply. Best of luck.
Q. Can I buy a lighter in the state of Nevada if I am under 18
A: Generally, yes anyone can purchase a lighter in Nevada. There is a specific statute on the sale of tobacco products to minors. Lighters are not even mentioned. The code provision, NRS 202.2493, states: ...it is unlawful for any person to sell, distribute or offer to sell cigarettes, cigarette paper, tobacco of any description, products made or derived from tobacco, vapor products or alternative nicotine products to any child under the age of 18 years. A person who violates this subsection shall be punished by a fine of not more than $500 and a civil penalty of not more than $500. You can find it here - https://www.leg.state.nv.us/NRS/NRS-202.html#NRS202Sec2493 Nevada does have a law that prohibits the sale of "novelty" lighters, but that is a general prohibition, not an age specific one. You can find that here - https://www.leg.state.nv.us/Division/Legal/LawLibrary/NRS/NRS-597.html#NRS597Sec980
Q. Are plaintiffs required to notify defendants about the motions they file?
A: Generally yes. You don't say if your case is in Federal court or State court. You also don't say if you are represented by an attorney, but since you are seeking answers online, I presume that you are not represented by one. If you look at the motions that were filed (that you didn't get copies of) there should be a page at the end, or even a separate document, called a certificate of service. That is where the Plaintiff's attorney has to specify how they complied with the rules that require service. Pay careful attention to that document. Perhaps they have an incorrect address for you. Perhaps they say that they sent it via email and it got caught in your spam filter. Or perhaps they sent it certified mail and you refused to sign for it (has happened to me with a defendant that thought the head in the sand approach would work well for them). In any event, if you are not receiving copies that they say they are sending, reach out to them and arrange for alternative service, such as by email or by fax. Best of luck.
Q. I am looking for a Lawyer from Bakersfield CA
A: It is a scam. Run the other direction, fast. There is no "Nova Port Bank" or any version incorporated in California. There is no ""Nova Port Bank" registered with the Office of the Comptroller of the Currency or any other federal bank regulator. The address you gave is a shared workplace in Bakersfield - https://pacificworkplaces.com/locations/bakersfield-office-space/ And "Donald Shaw Loan Firm" has a Wix site with fraudulent contact details and a Gmail address - https://donaldshawloanfirm.wixsite.com/loan/contact Please run away from this "loan" and if you gave anyone your banking information, call your financial instiution and get those accounts closed and new ones opened as soon as possible.
Q. I had a check returned and the small business is threatening to put my wife's and my picture on the wall. can i Sue?
A: Perhaps offering to pay the outstanding amount of the returned check PLUS the bank fees the business incurred for the returned check would resolve the issue faster and easier for all involved.
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