Jai prosecutes securities-fraud litigation for the firm's institutional-investor clients. He has been a member of the litigation teams on many of the firm's high-profile securities cases, including In re JPMorgan Chase & Co. Securities Litigation, in which a settlement of $150 million was achieved for the class; In re MF Global Holdings Ltd. Securities Litigation, in which settlements totaling $234.3 million were achieved for the class; In re Refco, Inc. Securities Litigation, in which settlements totaling $367.3 million were achieved for the class; In re Bristol Myers Squibb Co. Securities Litigation, in which a settlement of $125 million was achieved for the class; In re Schering-Plough Corp./ENHANCE Securities Litigation, in which a settlement of $473 million was achieved for the class; In re comScore, Inc. Securities Litigation, in which a settlement of $27 million in cash and $83 million in stock was achieved for the class; and In re Volkswagen AG Securities Litigation, in which a settlement of $48 million was achieved on behalf of purchasers of Volkswagen AG American Depositary Receipts (“ADRs”).
Jai is currently counsel for the plaintiffs in In re Evoqua Water Technologies Corp. Securities Litigation, a securities class action arising from misrepresentations in the registration statement for Evoqua’s initial public offering of common stock and subsequent statements to investors. Plaintiffs allege that the registration statement and subsequent statements included false and misleading statements about Evoqua’s numerous purportedly successful acquisitions and purportedly effective salesforce. He is also counsel for the plaintiffs in In re Willis Towers Watson plc Proxy Litigation, in which Plaintiffs allege that in connection with the merger of Towers Watson and Willis Group Holdings, Defendants made materially untrue statements and omissions of material fact concerning the fact that Towers’ CEO met during the merger negotiations with a Willis director and major Willis shareholder and discussed a massive incentive compensation package that the Towers CEO would receive as the future CEO of the combined company, valued as high as $165 million over the three years following the merger. As a result of this conflict of interest, the Towers CEO allegedly did not seek the maximum merger compensation for Towers shareholders.
Jai is also a member of the firm’s Global Securities and Litigation Monitoring Team, which monitors global equities traded in non-U.S. jurisdictions for prospective and pending international securities matters, and provides critical analysis of options to recover losses incurred on securities purchased in non-U.S. markets.
Before joining BLB&G, Jai was a Staff Attorney with the Division of Enforcement of the United States Securities and Exchange Commission, where he investigated securities law violations and coordinated investigations involving multiple SEC offices and other government agencies. Before his tenure at the SEC, he was an associate at Sullivan & Cromwell LLP, where he represented corporate issuers and underwriters in public and private offerings of stocks, bonds, and complex securities and advised corporations on periodic reporting under the Securities Exchange Act of 1934, compliance with the Sarbanes-Oxley Act of 2002, and other corporate and securities matters.
Jai is a member of the New York County Lawyers Association, where he serves as Secretary and is a member of the Federal Courts Committee and the Board of Directors of the New York County Lawyers Association Foundation. He is also a member of the New York City Bar Association and the New York State Bar Association.