Ira M. Press — Kirby McInerney LLP

Ira M. Press is Of Counsel to our New York office. Mr. Press’s practice focuses on securities and consumer litigation. He joined the firm in 1993, and currently leads the firm’s institutional investor monitoring program. In this capacity, he has provided advisory services to numerous government pension funds and other institutional investors. He has authored articles on securities law topics and has lectured to audiences of attorneys, experts, and institutional investor fiduciaries.

Mr. Press’ advocacy has resulted in several landmark appellate decisions, including Rothman v. Gregor, the first ever appellate reversal of a lower court’s dismissal of a securities class action suit pursuant to the 1995 Private Securities Litigation Reform Act.

Prior to joining KM, Mr. Press practiced at Warshaw Burstein Cohen Schlesinger & Kuh, LLP, where he focused on commercial litigation.

Practice Areas

Securities
Consumer Fraud

Education

Yeshiva University (B.A. magna cum laude, 1986)
New York University Law School (J.D. 1989)

Admissions

New York State Bar
United States District Courts for the Eastern, Northern, and Southern Districts of New York
United States District Court for the District of Colorado
The United States Supreme Court
United States Courts of Appeals for the Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth, and Tenth Circuits

Awards & Recognition

Super Lawyers, Top Rated Attorney - Securities Litigation, 2012-2024

Experience

Some of Mr. Press’s relevant experience includes:

Lead counsel representing Wespath, the General Board of Pension and Health Benefits of the United Methodist Church, in Doyle v. Reata Pharmaceuticals, a securities class action alleging that Reata made false and/or misleading statements — including in connection with its secondary public stock offerings — concerning, inter alia, the FDA guidance regarding the design of the clinical trial (CARDINAL) for Reata’s drug candidate, bardoxolone methyl. When the FDA revealed serious concerns it had previously raised to Reata, the share price declined materially. The case has resulted in a settlement of $45 million.
Co-lead counsel in Kokareva v. Bristow Group Inc., a securities class action alleging that an aviation services provider focused on the oil and gas sector, made materially false and misleading statements about its internal controls relating to covenants in the company’s secured financing agreements. The case resulted in a $6.25 million settlement that has received final approval.
Counsel in Maverick Neutral Levered Fund, Ltd. v. Valeant Pharmaceuticals International, Inc., alleging that Valeant materially misrepresented its business model, touting artificial and unsustainable growth that was enabled by the company’s deceptive and illegal conduct.
Representation of the NY State Common Retirement Fund as lead plaintiff in In re National City Corporation Securities, Derivative & ERISA Litigation, a securities class action arising from National City’s alleged misrepresentations regarding exposure to subprime mortgage related losses. During the class period, the company’s stock fell from approximately $37 to $6. This case resulted a settlement of $168 million.
Representation of the New York City Pension Funds as lead plaintiff in a class action against Wachovia Corporation arising from Wachovia’s alleged misrepresentations of their exposure to the subprime market. This case resulted in a settlement of $75 million.
Lead counsel in In re Citigroup Inc Securities Litigation, a class action arising out of Citigroup’s alleged misrepresentations regarding their exposure to losses associated with numerous collateralized debt obligations. This case settled for $590 million.