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The firm has developed
a recognized expertise in securities fraud, professional malpractice,
and class action litigation. Our most significant case involved Premium
Sales Corporation. In June, 1993, Harley Tropin was appointed Receiver
in a securities fraud case brought by the SEC against Premium Sales, a
North Miami Beach grocery diverting company which had been used to perpetuate
a multi-billion dollar fraud. In related bankruptcy proceedings, Harley
was appointed Chapter 11 Trustee. The U.S. District Court also appointed
Harley as Chair of the Steering Committee to coordinate all the litigation
resulting from the largest Ponzi scheme in Florida's history. At the time,
creditors expected to receive next to nothing and claims were traded for
as little as ten cents on the dollar in 1994. Although more than $2 billion
in claims were filed, the total allowed claims were reduced to approximately
$254 million. Through litigation against national law firms, grocers,
and a bank as well as others involved in the fraud, over $160 million
was recovered. After the payment of all business operating expenses and
professional fees, creditors have been repaid approximately 60% of their
losses, a result which was praised by courts, the Creditors' Committee,
the SEC, and the U.S. Trustee's Office. In FTC v. U.S.
Oil & Gas, the U.S. District Court approved our firm to represent
several thousand investors who were defrauded of $55 million. We and our
co-counsel recovered more than $48 million, prompting the Federal Trade
Commission to advise the Court that this was the most successful case
in its history. We also served as co-counsel in a major securities fraud
case in Connecticut against a leading brokerage house and the settlement
resulted in a full recovery of $15 million for the investors. Kozyak Tropin & Throckmorton
defended a large New Jersey lender in a complex fraud class action and
represented Prudential Insurance Co. in fraud claims related to the General
Development Corporation bankruptcy and criminal actions. We also served
as co-counsel for a major oil company in a dealer class action. The firm currently
represents several agricultural concerns in Florida and Central America
in actions against DuPont for substantial damages arising from its Benlate
product. Other
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