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Adam Savett

Adam Savett

Savett Law Offices, LLC
  • Securities Law, Consumer Law, Antitrust Law...
  • District of Columbia, New Jersey, Pennsylvania, Virginia
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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 Contributor - Class Actions
Avvo
Top 5% most viewed profile
LinkedIn
Top Contributor - Class Actions
Avvo
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
15 Questions Answered

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.
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.
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Allentown, PA 18104
USA
Telephone: (610) 621-4550
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