Biography

Jon Lambiras, Esq., CPA, CFE practices in the Firm’s Securities and Investor Protection group

He joined the Firm in 2003. He is a securities litigator concentrating primarily in the area of class action and opt-out litigation involving financial misrepresentations and accounting fraud. He represents institutional investors and individual shareholders in cases brought against securities issuers, executive officers, audit firms, and underwriters.

His experience spans all phases of pretrial litigation including initial investigations, client development, Complaint writing, motion practice, discovery, deposing fact witnesses and experts, overseeing expert witnesses, and conducting settlement negotiations. He has written briefs involving motions to dismiss, summary judgment, class certification, discovery disputes, case management issues, Daubert challenges, appellate briefs, settlement approval, and many other substantive and procedural issues.

The cases on which he worked have collectively settled for hundreds of millions of dollars.

He was a Shareholder at the Firm from 2014 to 2022. He then transitioned to an Of Counsel role.

Jon is an attorney, Certified Public Accountant, and Certified Fraud Examiner. His background as a CPA and CFE provides a unique perspective to develop case theories and uncover wrongdoing involving complex financial issues. Prior to law school he practiced accounting for four years as a financial statement auditor, including with a Big-Four accounting firm.

He has obtained the highest peer review rating, “AV Preeminent,” in Martindale-Hubbell for his legal abilities and ethical standards. Also, for several years from 2012 to the present, he was selected for inclusion in “Pennsylvania Super Lawyers” or “Rising Stars,” honors conferred on less than 5% of attorneys in Pennsylvania. He was also named to the National Trial Lawyers Top 100 Civil Trial Lawyers in Philadelphia in 2021.

Jon has published several articles and lectured on various class action topics as summarized below. 

While in law school, he was a Lead Articles Editor for the Pepperdine Law Review. His law review article was named Student Article of the Year by Pepperdine Law Review, i.e., best article among all student articles published that year.

Speaking Engagements

  • “Securities Fraud Class Actions: A Primer for Certified Fraud Examiners,” 2018, presented to the Association of Certified Fraud Examiners
  • “Securities Fraud Class Actions: A Bird’s Eye View,” 2017, presented to the Delaware County Bar Association
  • “Securities Fraud Class Actions: A Bird’s Eye View for Attorney-CPAs,” 2017, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs
  • “How the CFO Landed in Prison: The Nuts & Bolts of His Fraud,” 2012, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs
  • “State of the Cyber Nation Address,” 2011, presented at HB Litigation/NetDiligence Cyber Risk & Privacy Forum
  • “Data Breach Class Actions Involving Theft of Personal Information,” 2009, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs
  • “Class Actions Involving Estate Planning, Financial Planning, Trusts, and Income Tax,” 2009, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs
  • “Securities Fraud Class Actions: Comparing and Contrasting the Plaintiffs’ and Defendants’ View,” 2007, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs
  • “Securities Fraud Class Actions: A Primer for the Attorney-CPA,” 2006-08, presented to the Philadelphia Chapter of the American Academy of Attorney-CPAs

Professional Leadership

  • Past Officer of American Academy of Attorney-Certified Public Accountants, Philadelphia Chapter

Business and Community Leadership

  • Pro bono volunteer for American Bar Association’s “Free Legal Answers” program (2021-present)
  • Habitat for Humanity volunteer (2022-present)
  • Ridley Creek State Park trail maintenance volunteer (2018-present)
  • Frequent Red Cross blood donor
  • Ran annual food drives, clothing drives, and toy drives at Berger Montague for fifteen years

 

PROMINENT JUDGMENTS AND SETTLEMENTS

  • Dodona I, LLC v. Goldman, Sachs & Co. et al., No. 10-cv-07497 (S.D.N.Y.) (class action for misrepresentations in CDO prospectuses regarding strength of CDOs linked to mortgage-backed securities; settled for $27.5 million in 2016 after obtaining class certification and completing discovery and summary judgment proceedings)
  • In re Lehman Bros. Securities and ERISA Litig., No. 09-md-02017 (S.D.N.Y.) (accounting fraud opt-out case regarding undisclosed “Repo 105” repurchase transactions and misleading liquidity disclosures; reached settlements for confidential amounts with auditor defendant in 2015 after completing discovery and summary judgment briefing, and Lehman defendants in 2011)
  • In re Bally Total Fitness Securities Litig., No. 04-cv-03530 (N.D. Ill.) (accounting fraud class action regarding premature revenue recognition, improper deferrals of expenses, and goodwill impairment; settled for $2 million with Bally and auditor defendant in 2010)
  • In re Merrill Lynch & Co., Inc. Securities, Derivative and ERISA Litig., No. 07-cv-09633 (S.D.N.Y.) (securities fraud class action regarding inadequate disclosure of exposure to risks from subprime mortgage-backed securities; settled for $475 million with Merrill and underwriters in 2009)
  • In re Carreker Corp. Securities Litig., No. 03-cv-00250 (N.D. Tex.) (accounting fraud class action regarding premature revenue recognition from software license contracts; settled for $5.25 million in 2006)
  • In re Medi-Hut Company, Inc. Securities Litig., No. 03-cv-04425 (D. N.J.) (accounting fraud class action regarding fictitious revenues, premature revenue recognition, improper deferral of expenses, and related party transactions; reached settlements for $4.5 million with auditor defendant in 2006 after substantial completion of discovery, and $500,000 with Medi-Hut in 2004)
  • Staro Asset Management v. DeLuca, et al. [IT Group, Inc.], No. 02-cv-00886 (W.D. Pa.) (accounting fraud case regarding premature revenue recognition and inadequate accounts receivable reserves; settled for confidential amount in 2006 after substantial completion of discovery)
  • In re Fleming Companies Securities & Derivative Litig., No. 03-md-01530 (E.D. Tex.) (accounting fraud class action regarding overstated inventory valuations, understated liabilities, improper amortization of long-term assets, and manipulated same-store sales figures; settled for $94 million with Fleming, auditor defendant, and underwriters in 2005 after substantial completion of discovery)
  • Sunterra Corp. v. Gessow, et al. , Nos. 02-cv-01853 (D. Md.), 02-cv-00633 (M.D. Fla.), 02-CA-5174 (Cir. Ct. of Ninth Judicial Cir., Orange County, Fla.) (accounting fraud case regarding overstated loan receivable balances and inadequate loan loss reserves; settled for $4.5 million in 2005)
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Honors & Awards

  • Martindale-Hubbell, “AV Preeminent,” 2015-present
  • Super Lawyer, 2017-2023
  • Super Lawyer Rising Star, 2012-2014
  • National Trial Lawyers Top 100 Civil Trial Lawyers in Philadelphia, 2021

Publications