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Adam Savett
Savett Law Offices, LLCBadges
Claimed Lawyer ProfileQ&A
Summary
Adam Savett is a complex litigator who represents small businesses, institutional investors, and government entities, in securities, antitrust, consumer protection, and other complex litigation. Recently, Adam was named one of the 100 Lawyers You Need to Know in Securities Litigation by Lawdragon Magazine. He has published a number of articles and original research pieces on class action and securities litigation topics and is also a member of the National Association of Public Pension Attorneys (NAPPA), the Professional Liability Underwriting Society (PLUS), SIFMA's Corporate Actions Division, the American Bar Association (ABA), and the Hedge Fund Business Operations Association (HFBOA). Adam is a nationally recognized expert on complex litigation. He is a frequent speaker, author, and commentator on securities litigation and class actions. His comments have appeared in a wide variety of publications, such as The New York Times, Wall Street Journal, CFO Magazine, and Pensions & Investments.
Practice Areas
- Securities Law
- Consumer Law
- Antitrust Law
- Business Law
Fees
- Free Consultation
- Contingent Fees
Jurisdictions Admitted to Practice
- DC
- New Jersey
- Pennsylvania
- Virginia
- D.C. Circuit
Languages
- English: Spoken, Written
Professional Experience
- Managing Partner
- Savett Law Offices, LLC
- - Current
- CEO & Founder
- TXT Capital, LLC
- - Current
- Director of Securities Class Actions
- Claims Compensation Bureau, LLC
- -
- Director, Securities Class Action Services
- MSCI / RiskMetrics Group / Institutional Shareholder Services (ISS)
- -
- Senior Associate
- Mehri & Skalet, PLLC
- -
- Associate
- Cohen Milstein Sellers & Toll PLLC
- -
- Associate
- Finkelstein Thompson LLP
- -
- Associate
- Savett Frutkin Podell & Ryan
- -
Education
- Villanova University School of Law
- J.D.
- -
- American University
- B.A. | Broadcast Journalism
- -
Awards
- Top Contributor - Class Actions
- Avvo
- Top 5% most viewed profile
- National Finalist - Leading Lawyers in America
- Lawdragon Magazine
- Top 100 Legal Blogs
- LawSchool.org
- Top 2500 Blogs
- ABA Journal
- 100 Lawyers You Need to Know in Securities Litigation
- Lawdragon Magazine
Professional Associations
- Hedge Fund Business Operations Association
- Member
- - Current
- SIFMA's Corporate Actions Division
- Member
- - Current
- National Association of Public Pension Attorneys
- Member
- - Current
- Professional Liability Underwriting Society
- Member
- - Current
- District of Columbia Bar
- Member
- - Current
- American Bar Association
- Member
- - Current
Publications
Articles & Publications
- Securities Class Action Trials in the Post-PSLRA Era
- KCC
- Update on the Options-Backdating Class Actions
- KCC
- A Billion Here, A Billion There: Solving the Historical Data Problem and Recouping More in Securities Litigation
- RiskMetrics Group
- SCAS 50 for 2008
- RiskMetrics Group
- The Subprime Meltdown Heads to Court
- RiskMetrics Group
- The Importance of Best Practices & Procedures in Securities Class Action Settlements
- HFMWeek
- Globalization in Securities Class Actions
- RiskMetrics Group
- SCAS 50 for 2007
- RiskMetrics Group
- Accountability Goes Global: International Investors and US Securities Class Actions
- Institutional Shareholder Services
- Securities Class Action Services SCAS 50 Power Rankings
- RiskMetrics Group
- Current Trends In Motion Practice In Federal Securities Class Actions
- 23rd Annual Institute On Federal Securities
- Some Recent Developments In Securities Litigation
- 22nd Annual Institute On Federal Securities
Speaking Engagements
- Securities Litigation Post-Halliburton, 11th Annual National Directors & Officers Insurance ExecuSummit
- ExecuSummit
- D&O: Regulatory, Enforcement & Securities Litigation Update, 10th Annual National Directors & Officers Insurance ExecuSummit
- ExecuSummit
- Securities Class Actions: Nuisance or Opportunity?, FRT Webinars
- FRT
- The Evolving Securities Class Action Industry, FRT Webinars
- FRT
Websites & Blogs
- Website
- Website
Legal Answers
13 Questions Answered
- Q. Can a merchant set a minimal payment requirement on a debit card?
- A: It's probbaly not illegal for the store to try and set a minimum for debit card purchases, but it most likely violates the rules they agree to with Visa or MasterCard. But, swiping the card for more than the purchase amount and then telling the customer after the fact might very well be considered a deceptive practice, and that might violate Florida's consumer protection law. MasterCard says: "MasterCard does not permit merchants to set a minimum transaction amount to accept MasterCard cards that access a debit account." Visa says: "Minimum purchase amounts cannot be applied to transactions that are processed with a debit card. " But those rules are not laws, they are a part of a private contract between a merchant and the payment processing network. So, you, the consumer, can't enforce them. You can complaint to your bank, who may take action. The Visa rules are here: https://usa.visa.com/dam/VCOM/download/merchants/minimum-transactions-credit-card.pdf The MasterCard rules are here: https://www.mastercard.us/content/dam/mccom/en-us/documents/Min_Max%20Feb%202015.pdf You can contact the Consumer Protection Division of the Office of the Florida Attorney General about possible civil enforcement for possible violations of the Florida Deceptive and Unfair Trade Practices Act. http://www.myfloridalegal.com/pages.nsf/Main/18A7753257FE439085256CC9004EC4F7 Best of luck.
- Q. I don't think my private mortgage lender was licensed in the state of Maryland, how would I find out and what should I o
- A: You can check the registration status of your lender through NMLS (the Nationwide Multistate Licensing System / Nationwide Mortgage Licensing System and Registry). They maintain a consumer oriented website, here: http://www.nmlsconsumeraccess.org/ Note that not all types of lenders need the same types of licenses. You may want to contact the Montgomery County Office of Consumer Protection (OCP), as they are the agency responsible for enforcing consumer protection laws in your county: https://www.montgomerycountymd.gov/ocp/ Lastly, since you tagged foreclosure in your question, you may want to review information the Maryland Department of Labor, Licensing and Regulation (DLLR) has on foreclosures: http://www.dllr.state.md.us/finance/consumers/mortforeinfo.shtml Best of luck.
- Q. Can someone please explain this case number I received on a post card and what my next steps should be?
- A: It is a case in California state court involving alleged violations of of a federal law, the Fair and Accurate Credit Transactions Act (FACTA). FACTA was enacted to address the problem of identify theft by putting certain protections into place. Specifically, FACTA prohibits the printing of more than the last 5 digits on a credit card receipt and prohibits printing an expiration date on a credit card receipt. The case alleges that Party City printed receipts between March 1, 2016 and Nov. 2, 2016 which supposedly had full American Express expiration dates printed on them, in violation of FACTA. The attorneys representing consumers in the Party City case are Gaines & Gaines, APLC and Chant & Company. The postcard should outline what your options are and provide you with deadlines for doing so. Best of luck.
- Q. What can I do? I don't have much money! I have all email/text correspondence with Sky Cargo Ways.
- A: I’m sorry to say, but it looks like the company is a scam. A number of websites describe the scam. Here are two examples: https://scamwarners.com/forum/viewtopic.php?f=36&p=357721 https://petscams.com/pet-delivery-scam/skycargologistics-us/amp/ If you paid by credit card, please dispute the charges with your credit card company. I wouldn’t send this company any more money. You can also file a complaint with your state’s attorney general. Good luck, and I’m sorry.
- Q. is it normal to wire transfer downpayment and fees to title company before the closing date?
- A: The law in Ohio changed in 2017 and now requires that any funds for more than $10,000 for a residential real estate transaction be electronically wired to the title company prior to closing. This is actually an increase (effective September 29, 2017) from $1,000 to $10,000. Cash, personal checks, certified checks, official checks, or money orders are still acceptable for expenses up to $10,000. This threshold cannot be circumvented by issuing multiple checks or utilizing a multitude of different forms of payment. The specific provision is in ORC §1349.21.
- Q. This new local business in my area has an aggressive marketing campaign that includes calls and tons of voicemails. I've
- A: The short answer is probably. There is a federal law, the Telephone Consumer Protection Act, or TCPA, that makes many types of calls illegal. Largely it depends on the type of call (e.g. robocall vs live), the nature of the number called (e.g. cell vs landline vs business number), whether you have any existing relationship with the caller, and whether you gave permission to be called. There are many good TCPA lawyers that will handle your case on a contingent basis. Best of luck.
- Q. how do I join this class action suite against AWS and FBA Stores? FTC v. AWS. LLC et al
- A: This is not a class action. On March 12, 2018, the Federal Trade Commission (FTC) filed a lawsuit against a bunch of related entities. On March 14, the District Court approved a motion for a Temporary Restraining Order and appointed Robb Evans & Associates LLC as Temporary Receiver to take possession and control of the those entities. A tentative settlement of the lawsuit has been reached between the FTC, the entities, and the principals of those entities. The business operations of the entities will not be re-started. If you believe you have products stored at with the FBA entities, the receiver has asked you to send an email to fba@robbevans.com with a detailed list of the inventory. The receiver will be taking steps to return inventory to clients. You can get more information from the receiver here: https://www.robbevans.com/find-a-case/casepage/aws-fba-distributors-fba-stores-receiver/ or from the FTC here: https://www.ftc.gov/enforcement/cases-proceedings/172-3149/aws-llc-et-al-fba-stores Best of luck.
- Q. I would like to know how to get information and possibly join this class action suit...title "FTC v. AWS. LLC et al"
- A: This is not a class action. On March 12, 2018, the Federal Trade Commission (FTC) filed a lawsuit against a bunch of related entities. On March 14, the District Court approved a motion for a Temporary Restraining Order and appointed Robb Evans & Associates LLC as Temporary Receiver to take possession and control of the those entities. A tentative settlement of the lawsuit has been reached between the FTC, the entities, and the principals of those entities. The business operations of the entities will not be re-started. If you believe you have products stored at with the FBA entities, the receiver has asked you to send an email to fba@robbevans.com with a detailed list of the inventory. The receiver will be taking steps to return inventory to clients. You can get more information from the receiver here: https://www.robbevans.com/find-a-case/casepage/aws-fba-distributors-fba-stores-receiver/ or from the FTC here: https://www.ftc.gov/enforcement/cases-proceedings/172-3149/aws-llc-et-al-fba-stores Best of luck.
- Q. How log does it usually take for a class action lawsuit to be settled.
- A: There is no easy answer. Each area of law (e.g. employment, antitrust, unsafe drugs) has a rough timeline for how long cases usually take, but the keyword is usually. And each case is different. Many cases are resolved in 2-5 years, but some take less time and many take more. Best of luck.
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