About The Saunders Law Firm

The Saunders Law Firm is a small boutique firm specializing in complex litigation, including antitrust, securities and other commercial matters in federal and state courts throughout the country at both the trial and appellate levels. The firm's two lawyers have extensive experience in each of these areas both as plaintiffs' counsel and defense counsel. A sampling of the cases in which one or both of the firm's lawyers have appeared include:

  • an antitrust class action on behalf of purchasers of consumer electronics products against major manufacturers of LCD panels for flat screen TV's, computer monitors and laptops
  • a class action against a major banking institution alleging breach of contract and breach of fiduciary duty on behalf of certain account holders
  • a class action on behalf of accountholders at Salomon Smith Barney alleging that the firm breached its contract and fiduciary duties in its investment of client funds
  • a shareholder derivative lawsuit that challenged the executive compensation at a major Delaware corporation in the travel and hospitality business
  • a class action involving claims under the Fair Credit Reporting Act
  • a shareholder derivative action for breach of fiduciary duty against directors of Abbott Laboratories
  • class and individual antitrust actions on behalf of pharmacists against major brand name prescription drug manufacturers
  • a securities class action on behalf of shareholders of an information technology firm
  • individual and class actions challenging the constitutionality of state unclaimed property acts
  • lead trial and appellate counsel for AT&T in antitrust actions brought against AT&T by the U.S. Government and private entities and individuals

The firm's lawyers have also participated in arbitrations, mediations and other alternative dispute resolution techniques and have served as expert witnesses and arbitrators.

The Saunders Law Firm Attorneys

Terry Rose Saunders, Attorney

Terry Rose Saunders has concentrated her law practice in the areas of securities, class action, antitrust and other complex business litigation in state and federal courts throughout the country. For thirteen years, Ms. Saunders represented a broad range of individuals, small businesses and public corporations in securities fraud, antitrust, breach of contract and other complex business litigation as an associate and then partner of Jenner & Block in Chicago (1975-1986), and an associate at Williams & Connolly in Washington, D.C. (1973-1975). Since 1987, Ms. Saunders has primarily represented plaintiffs in individual and class actions involving securities fraud, breach of fiduciary duty, antitrust, breach of contract, and business tort litigation.

Ms. Saunders is a member of the Bar of the State of Illinois and the District of Columbia. She has served as lead trial counsel and liaison counsel in a number of class actions and shareholder derivative actions, including:

  • Norman v. Salomon Smith Barney, No. 03 C 4391 (S.D.N.Y.). Co-lead counsel in a class action breach of contract, breach of fiduciary duty and statutory violations on behalf of clients of the firm. (The case is reported at 350 F. Supp.2d 382 (S.D.N.Y. 2004);
  • Brand Name Prescription Drugs Litigation, No. 94 C 897 (N.D. Ill). Liaison counsel nationwide and Illinois counsel for pharmacist opt-outs in case brought under Sherman Act and Robinson Patman Act. After the Sherman Act claims settled, the Robinson-Patman Act claims were transferred to the Eastern District of New York. The case is reported at 472 F. Supp. 2d 385 (E.D.N.Y.)
  • Loventhal v. Silverman et al., No. CA 306-N (Del. Ch.). Co-Lead Counsel in shareholder derivative action against directors of Cendant Corporation for breach of fiduciary duty.
  • In re Abbott Laboratories Derivative Shareholder Litigation, No. 99 C 7246 (N.D.Ill). Co-Liaison Counsel in shareholder derivative action against directors. The decision of the court on the appeal from the district court's order dismissing the case is reported at 325 F.2d 795 (7th Cir. 2003).
  • In re Trans Union Corp. Privacy Litigation, No. 00 C 4729 (N.D. Ill) Liaison Counsel in class action brought under state and federal privacy laws. The case is reported at 2005 U.S. Dist. LEXIS 17548 (N.D Ill Aug. 17, 2005)

Ms. Saunders has argued numerous appeals in the Illinois Appellate Court and the United States Court of Appeals for the Seventh Circuit. Most recently, she has appeared on behalf of plaintiffs in In re TFT-LCD (Flat Panel) Antitrust Litigation, 3:07- md-1827 (N.D. Cal.); In re Cathode Ray Tube (CRT) Antitrust Litigation 3:07-cv-5944 (N.D. Cal.) ; In re Automotive Parts Litigation, 2:12-md-2311 (E.D. Mich); In re Peregrine Financial Group Customer Litigation, 12-cv-5546 (N.D. Ill) and three appeals pending in the United States Court of Appeals for the Seventh Circuit, Katherine Cerajeski v. Greg Zoeller et al, No. 12-3766 and No. 15-1313, and Stephen Richek v. Bank of America, N.A., No.11-2989 (pending). Ms. Saunders has also testified as an expert witness on issues relating to securities law, class actions and attorneys' fees.

Ms. Saunders graduated from Barnard College (B.A., 1964) and New York University Law School (J.D., cum laude, 1973). She is the co-author of Securities Fraud: Litigating Under Rule 10b-5 (Lexis-Nexis), a practical guide to securities litigation published in 1989 and updated annually through 2001. She has participated in seminars and teaching programs on securities class actions, fiduciary duties and trial practice, including participation as a panelist in the Ray Garrett, Jr., Corporate and Securities Law Institute, Northwestern University School of Law April 1997; as an instructor at the Edwin F. Mandel Clinic of The University of Chicago Law School, Intensive Trial Practice Workshop; and as a panelist and moderator of ABA programs on class actions, fiduciary duty law of Delaware business entities, securities litigation and trial practice. Ms. Saunders served as co-Chair of the ABA Litigation Section's Consumer and Personal Rights Litigation Committee (2000-02), and the Class Action and Derivative Suits Committee (1992-95). She chaired the Chicago Bar Association's Class Litigation Committee (1987-88).

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George Lawton Saunders, Jr., Of Counsel

George L. Saunders, Jr. graduated from the University of Alabama (A.B. 1957) and from the University of Chicago Law School (J.D. 1959). Following graduation, Mr. Saunders served as Law Clerk to the Honorable Richard T. Rives, Chief Judge of the United States Court of Appeals for the Fifth Circuit (1959-1960), and as Law Clerk to Justice Hugo L. Black of the United States Supreme Court (1960-1962). He joined Sidley & Austin in 1962 and became a partner in that firm in 1966. On June 30, 1990, Mr. Saunders withdrew from Sidley & Austin to establish Saunders & Monroe, a firm specializing in complex and emergency litigation, including antitrust and trade regulation, communications, securities, banking and bankruptcy. He has been Of Counsel to the Saunders Law Firm since September 2011.

Mr. Saunders is a member of the Bar of the State of Illinois and has been admitted to practice in federal appellate courts throughout the country. His practice has focused on large, complex cases, both before state and federal regulatory agencies and before state and federal courts. This has included cases in the railroad industry, the securities industry, the telecommunications industry, the natural gas industry and the electric power industry. He also has extensive appellate experience in federal courts throughout the country and in the United States Supreme Court.

From 1974-1984, Mr. Saunders served as lead outside counsel in the management of the antitrust litigation against the Bell System, as lead trial counsel in United States v. American Tel. & Tel. Co., Civ. No. 74-1698 (D.D.C.); MCI v. American Tel. & Tel. Co., No. 74 C 633 (N.D. Ill.); Southern Pacific Communications v. American Tel. & Tel. Co., Civ. No. 78- 0545 (D.D.C.); and Phonetele v. American Tel. & Tel. Co., No. CV 74-3506-HLH (C.D. Cal.), and as lead appellate counsel in nine major appeals arising out of this litigation. Subsequently, he served as lead trial and appellate counsel for American Natural Resources in litigation involving the Great Plains coal gasification project, as counsel for Middle South Utilities in connection with possible litigation involving the Grand Gulf I nuclear project, as counsel for one of the major defendants in several securities actions arising out of the Drexel Burnham & Lambert bankruptcy.

More recently, Mr. Saunders served as lead appellate counsel for the class plaintiffs in the Brand Name Prescription Drugs case, as an expert witness for the defendant in an action arising out of major antitrust litigation in New York and as consulting counsel for the plaintiffs in the LCD antitrust class action litigation in San Francisco.

Mr. Saunders is an emeritus fellow of the American College of Trial Lawyers.

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