Mr. Browne’s practice concentrates on the prosecution of securities fraud class action litigation. He represents the firm’s institutional investor clients in jurisdictions throughout the country, and has been a member of the trial teams of some of the most high-profile securities fraud class actions in history.
Most recently, Mr. Browne was Lead Counsel in the In re Citigroup, Inc. Bond Action Litigation, which resulted in a $730 million cash recovery - the second largest in history on behalf of a class of purchasers of debt securities. It is also the second largest settlement of a litigation arising out of the subprime meltdown and financial crisis.
Mr. Browne was also a member of the team representing the New York State Common Retirement Fund in In re WorldCom, Inc. Securities Litigation, which culminated in a five-week trial against Arthur Andersen LLP and a recovery for investors of over $6.19 billion -- the second largest securities fraud recovery in history. He was also Lead Counsel in the In re Refco Securities Litigation, which resulted in a $407 million settlement.
Other notable litigations in which Mr. Browne served as Lead Counsel on behalf of shareholders include In re King Pharmaceuticals Litigation, which settled for $38.25 million and In re SFBC Securities Litigation, which settled for $28.5 million. He was also a leading member of the team that achieved a $32 million settlement in the In re RAIT Financial Trust Securities Litigation.
He is currently prosecuting a number of securities matters, including In re State Street Corporation Securities Litigation, In re the Reserve Fund Securities and Derivative Litigation, In re JPMorgan Foreign Exchange Trading Litigation, and the Anadarko Petroleum Corporation Securities Litigation.
Prior to joining BLB&G, Mr. Browne was an attorney at Latham & Watkins, where he had a wide range of experience in commercial litigation, including defending corporate officers and directors in securities class actions and derivative suits, and representing major corporate clients in state and federal court litigations and arbitrations.
Mr. Browne has been a panelist at various continuing legal education programs offered by the American Law Institute ("ALI") and has authored and co-authored numerous articles relating to securities litigation.