The City of Hialeah Employees’ Retirement System v. Toll Brothers, Inc. – Securities Fraud Settlement

Berger Montague served as co-lead counsel and obtained a $25 million settlement in this securities fraud class action against defendant Toll Brothers, Inc. The case was litigated in the United States District Court for the Eastern District of Pennsylvania and captioned The City Of Hialeah Employees’ Retirement System v. Toll Brothers, Inc., No. 07-cv-1513 (E.D. Pa.).

Led by shareholders Russell D. Paul and Barbara A. Podell of Berger Montague, the plaintiffs alleged that the national homebuilder, Toll Brothers, Inc., made misleading statements regarding its current and future conditions and failed to disclose adverse developments that were negatively affecting the business. The plaintiffs alleged that these misleading statements included maintaining that Toll Brothers’ business model of focusing on expensive homes for a niche market of high-end buyers was immune from the adverse impact of rising interest rates and other negative macroeconomic factors.

If you are an investor and have questions about a potential securities fraud lawsuit, please contact Berger Montague.

About Berger Montague

Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.