S&O Obtains Dismissal of SDNY Securities Class Action Lawsuit Against Former VimpelCom CEO

AUGUST 2018

On August 30, 2018, Judge Andrew L. Carter, Jr., of the United States District Court for the Southern District of New York dismissed Schertler & Onorato client Jo Lunder from a securities class action lawsuit brought against VEON Ltd. (formerly called VimpelCom), an international telecommunications company based in the Netherlands.  The court found that the complaint lacked specific factual allegations that Mr. Lunder was aware of Foreign Corrupt Practices Act (FCPA) concerns within VimpelCom at the relevant time.  Schertler & Onorato attorneys David Schertler, Lisa Manning, and Joseph Gonzalez represented Mr. Lunder in the SDNY action.  Working with co-counsel in Norway, Mr. Schertler and Ms. Manning previously persuaded the Norwegian economic crimes unit, Okokrim, to drop its criminal investigation of Mr. Lunder without charges.  Schertler & Onorato has substantial experience in international FCPA cases like the VimpelCom matter, which require coordinated management of civil and criminal investigations and proceedings in the United States and abroad.