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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
- District of Columbia
- District of Columbia Bar
- 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
18 Questions Answered
- Q. Do I have to return the wrong order I received?
- A: It depends on the terms and conditions of the website that you bought the shoes from. Generally, they can specify what their return policy is, and most websites force you to agree to the terms and conditions before being able to place an order. Best of luck.
- Q. Is a 23.99% a violation of usury laws in FL if so what are my options for recourse?
- A: The short answer is that the loan is probably usurious under Florida law, but you should talk to a Florida licensed consumer protection attorney for a full evaluation. Fla. Stat. § 687.02 defines "Usurious contracts” as: All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18 percent per annum simple interest are hereby declared usurious. However, if such loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, then no contract to pay interest thereon is usurious unless the rate of interest exceeds the rate prescribed in s. 687.071. But there are other factors to consider, and I can't possibly know how you are calculating the interest rate you specified in the question. You can find a Florida licensed lawyer by using the lawyer search function on this website, or by calling your local bar association. Best of luck.
- Q. What does "claim form deadline no earlier than July 1 2019" actually mean? Do we file before or after date?
- A: This question appears to relate to a settlement in Rickert, et al. v. Caliber Home Loans, Inc., and American Security Insurance Company. The claims administrator (the company that will process and evaluate the claims) has a website devoted to the case, here: https://rickertsettlementinfo.com/ The website states that the deadline to file a claim is July 1, 2019. So any claims should be filed on, or before that date. The "no earlier than July 1" language has popped up on several class action discussion board websites, but that is NOT the language in the actual notice, which would control. The claims administrator also has a toll free number that you can call with further questions - 866-403-1834.
- Q. I want to open a wine subscription business based in Georgia.
- A: The answer is probably, but this is NOT a do-it-yourself endeavor. You should seek a (preferably) Georgia licensed attorney with a specialization in alcohol sales & registration issues. If they have a background in interstate subscription shipping or direct-to-consumer business, then even better. They will be able to ensure that you file the correct paperwork and that you don't run afoul of the different state laws regarding registration, taxes, background checks, etc. They will also be able to guide you through what you can and cannot do, so take some time to think about what your subscription model looks like and how you want to run your business. Note that how you want to run it may not gel with how you can run it, and a good attorney can help walk you through the decision tree. For example, do you intend to receive shipments directly from wineries, then package and reship the bottles to your customers? Then you may be a distributor, which may require different licensing than if just act as a retailer. Or are you going to ask the wineries to direct ship to your customers? Then you may need to ensure that they are licensed to do so. Will you only ship within Georgia, or will you ship to other states? Again, this raises registration issues in other states as well. Best of luck with your proposed venture.
- Q. NY state law 369e says if you register a promotion late then it's a class B misdemeanor.. What is that penalty?
- A: Offenders found guilty of Class “B” misdemeanors face maximum penalties of up to three months imprisonment or one year probation. In addition, a fine of up to five hundred dollars or double the amount of the defendant’s gain from the commission of the crime may be imposed. For first time offenders, courts do not generally impose the maximum sentence, absent extraordinary circumstances.
- 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.
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