Scott V. Papp

Scott V. Papp is an Associate at Faruqi & Faruqi, LLP’s New York office.  Mr. Papp’s practice is focused on Securities Litigation.

Prior to joining Faruqi & Faruqi, Mr. Papp was associated with Lowey Dannenberg, P.C. where he specialized in securities fraud ligation, shareholder rights, whistleblower and complex class action litigation in federal and state courts. Mr. Papp successfully prosecuted a federal securities fraud class action against Community Health Systems, Inc., one of the largest for-profit hospital systems in the nation accused of Medicare fraud, where he represented the New York City Pension Fund System and obtained a $53.3 million settlement for the Class. See Norfolk Retirement Sys. v. Community Health Sys., 11-cv-0433 (M.D. Tenn.).  Mr. Papp’s other notable securities fraud cases include MMI Investments L.P. v. NDCHealth Corporation, 05 Civ. 4566 (S.D.N.Y) (successful recovery for a client who opted-out of the Class case) and In re Philip Services Corp. Securities Litigation, 98 Civ. 835 (S.D.N.Y.) (successful recovery of $79.75 million against the issuer and its auditors accused of accounting fraud).  Mr. Papp also assisted in prosecuting claims on behalf of NYSE seat holders as the NYSE transitioned to a publicly-traded, for profit company in the New York Stock Exchange/Archipelago Merger Litigation (N.Y. Sup. Ct. 2007).  Mr. Papp has also successfully litigated multiple appraisal actions in Delaware state court, including Dolphin Financial Partners LLC v. Docucorp International, Inc., No. 3026 VCN (Del. Ch.) and Millenco L.P. v. Lone Star Steakhouse & Saloon, Inc., C.A. No. 2718-VCS (Del. Ch.).

Mr. Papp assisted in obtaining preliminary and final approval of multiple class action settlements valued at over $500 million in various benchmark rate manipulation cases, including In re JPMorgan Precious Metals Spoofing Litigation., No. 18-cv-10356 (GHW) (S.D.N.Y.), In re JPM Treasury Futures Spoofing Litigation, 20-civ-03515 (PAE) (S.D.N.Y.), Sullivan v. Barclays PLC, No. 13-cv-2811 (PKC) (S.D.N.Y.) (Euribor rate manipulation), and Fund Liquidation Holdings LLC v. Citibank, N.A., No. 16-civ-5263 (AKH) (S.D.N.Y.) (SIBOR rate manipulation).

Mr. Papp has litigated a variety of business and consumer class actions including successfully prosecuting a complex landlord-tenant class action in In Re Archstone Westbury Tenant Litigation, Index No. 21135/07 (Sup. Ct. Nassau County) where he succeeded in remanding a putative class action back to New York state court based on hotly contested exemptions under the Class Action Fairness Act of 2005 (“CAFA”). Sorrentino v. ASN Roosevelt Center, LLC, 588 F. Supp.2d 350 (E.D.N.Y. 2008).  He also defended Aetna Inc. in Alabama from commencement through appeal to the United States Court of Appeals for the Eleventh Circuit, resulting in the dismissal of a nationwide class action with no liability. Main Drug, Inc. v. Aetna U.S. Healthcare, 475 F.3d 1228 (11th Cir. 2007) (affirming dismissal of claims brought by a nationwide class of pharmacies claiming damages based on the AWP of prescription drugs).  Prior to the appeal, Mr. Papp was instrumental in making new law under CAFA by twice achieving removal from an Alabama state court to federal court, notwithstanding that the complaint had been filed before CAFA was enacted. Main Drug, Inc. v. Aetna U.S. Healthcare, 455 F. Supp. 2d 1323 (M.D. Ala. 2006) and 455 F. Supp. 2d 1317 (M.D. Ala. 2005).

Mr. Papp clerked for the Honorable Arthur A. Hiller and the Honorable William B. Lewis in the Superior Court of Connecticut, Stamford Judicial District.  In addition, during law school Mr. Papp was an Honors Intern at the U.S. Attorney’s Office for the Southern District of New York and was a student intern at the U.S. Securities and Exchange Commission’s Northeast Regional Office.

Mr. Papp obtained his undergraduate degree from the State University of New York at Albany (B.A.) and his law degree from Pace University School of Law (J.D., cum laude).  Mr. Papp is licensed to practice law in New York, Connecticut and North Carolina.  He is also admitted in a number of federal courts including, the United States District Courts for the Southern, Eastern, and Western Districts of New York, the United States Court of Appeals for the Second and Sixth Circuits, and the United States Supreme Court.