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FIRM NEWS

In re: Platinum and Palladium Commodities Litigation 10-cv-3617 (S.D.N.Y.)–On July 15, 2014, the Honorable William H. Pauley III preliminarily approved the Futures Plaintiffs’ partial settlement of this action with (a) the Moore Capital Defendants for $48,400,000, and (b) Defendant Joseph Welsh for a judgment of $35,000,000 in respect of the negligence claim against him collectable solely from his personal assets consisting of his rights against certain insurers. Defendant MF Global, Inc. is not part of the proposed settlement. Lovell Stewart is sole lead counsel for the Futures Plaintiffs in this action. Persons who traded in NYMEX platinum futures contracts and/or NYMEX palladium futures contracts during the time period June 1, 2006 through April 29, 2010 should save their relevant trading records because they may file claims to participate in this proposed settlement. Please check this website and the settlement website for updates regarding the proposed settlement. The settlement website is http://platinumpalladiumfutureslitigation.com. Contact Christopher M. McGrath, Esq. (CMcGrath@lshllp.com).

Precision Associates, Inc. et al., v. Panalpina World Transport (Holding) LTD. et al, 08-cv-0042 (E.D.N.Y.)–On June 27, Plaintiffs filed a motion seeking preliminary approval of settlements with Defendants Panalpina, Geodis, DSV, and Jetspeed for an immediate cash payment of $44 million plus additional sums to be paid from proceeds from another litigation. Lovell Stewart is co-lead counsel in this action. Class Members can find additional information on https://www.freightforwardcase.com Contact Benjamin M. Jaccarino, Esq. (Bjaccarino@lshllp.com).

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Benjamin M. Jaccarino

Benjamin M. Jaccarino is a partner at Lovell Stewart Halebian Jacobson, LLP. Mr. Jaccarino is a graduate of Wheaton College, Bachelor of Arts in 2006.  He graduated from Suffolk University with a J.D. in 2009. While at Suffolk, Ben received an Oral Advocate award. He was admitted to practice in the State of New York in 2010; before the United States District Court for the Eastern District of New York in 2010; and before the United States District Court for the Southern District of New York in 2010.

Ben has been with the Firm since 2009 and primarily focuses on commodities manipulation, and antitrust class actions. Mr. Jaccarino has been involved in a number of commodity manipulation class actions that have resulted in favorable settlements for plaintiffs.

Ben has represented, as the co-lead counsel firm, businesses and consumers of freight forwarding services who were harmed by an alleged price-fixing conspiracy among numerous freight forwarders, Precision Associates, Inc. et al., v. Panalpina World Transport (Holding) LTD. et al, 08-cv-0042 (E.D.N.Y.). To date, this case has resulted in over $134 million in settlements.

Ben played an active role in representing purchasers of 10-year treasury notes in Kohen v. Pacific Investment Management, Co, LLC that resulted in a settlement of $118,750,000, which is the second-largest class action recovery in the history of the Commodity Exchange Act, 7 U.S.C. §1 et seq. (“CEA”). Ben also successfully played an active role in representing traders of New York Mercantile Exchange (“NYMEX”) natural gas futures contracts in In re Amaranth Natural Gas Commodities Litig., 07-cv-6377 (SAS) (S.D.N.Y.). This action resulted in a settlement of $77,100,000, which is the fourth-largest class action recovery in the history of the CEA.

Ben’s active cases include representing clients in In Re Aluminum Warehousing Antitrust Litigation, MDL No. 2481, and In re Term Commodities Cotton Futures Litig., 12-cv-05126 (ALC) (S.D.N.Y.).

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