We were lead trial counsel for 14 institutional investors seeking to recover over $50 million in damages they suffered as a result of what has been described as the largest gold fraud in history, Bre-X. The firm was retained to file claims for these investors in New Jersey state court after earlier counsel were unable to obtain an order certifying a class action to recover damages for these and other investors who purchased stock in Bre-X. Defendants include JP Morgan Chase, Bank of Montreal, and Nesbitt Burns, whom Plaintiffs allege knew or should have known that, far from being the largest gold strike in history, Bre-X was “salting” its mines with gold from foreign sources to create the appearance of gold where none existed.
See, e.g., Appaloosa Investment L.P. I v. J.P. Morgan Securities, Inc., 2008 WL 1819438 (N.J. Super. Ct. App. Div. 2008). The case settled for a confidential amount.