Murray Frank LLP (formerly known as Murray, Frank & Sailer LLP) is a law firm based in New York City that specializes in class action litigation, particularly in cases involving federal securities law, federal antitrust law, ERISA, and state consumer protection law. Notable cases The firm traces its origin to 1963, and has litigated the landmark cases of Sirota v. Solitron Devices, Inc. (holding that there is an implied right of contribution among joint tortfeasors) and Escott v. BarChris Const. Corp. (holding that a commencement of a class action tolls the statute of limitations for claims of other class members). Brian Murray, a current partner at the firm, prevailed on an issue of first impression in the Superior Court of Massachusetts, in Cambridge Biotech Corp. v. Deloitte and Touche LLP, in which the court applied the doctrine of continuous representation for statute of limitations purposes to accountants for the first time in Massachusetts. Jacqueline Sailer, a former partner at the firm, prevailed in Naevus Intl., Inc. v. AT&T Corp., in which the court established limits on the reach of the Federal Communications Act on state consumer fraud claims, and Kinney v. Metro Global Media, Inc., in which the court addressed the pleading standard for fraud under the Private Securities Litigation Reform Act of 1995 for claims against an auditor, an issue of first impression in the District of Rhode Island. Notable settlements Merrill Lynch Research Reports Securities Litigation: Murray, Frank & Sailer was court appointed co-lead counsel. Plaintiffs alleged that Merrill Lynch, through its analyst Henry Blodget, issued falsely positive analyst reports that Blodget himself did not believe, in an effort to obtain investment banking business. Merrill Lynch was ultimately investigated by the New York State Attorney General and paid a $100 million fine for this conduct, while Blodget was barred from the securities industry by the Securities Exchange Commission and paid $4 million in fines and disgorgement. In 2007, this litigation was settled, resulting in an additional $125 million recovery for shareholders. General Motors Corporation Securities and Derivative Litigation: Murray, Frank & Sailer served as initial lead counsel. Plaintiffs alleged that from 2000-2006, General Motors and its auditor Deloitte & Touche LLP issued financial statements that misstated and mischaracterized GM's revenue, earnings, and cash flow, which artificially inflated the price of various GM securities. In 2008, this litigation was settled, resulting in a $303 million recovery for GM shareholders.