Securities Litigation Counsel

The Arizona State Retirement System (ASRS) Master Agreement CTR067441 is a specialized contract for Securities Litigation Counsel services, designed to provide comprehensive legal support for monitoring and potentially initiating securities litigation. Under this agreement, the contracted law firm, Grant & Eisenhofer P.A., will perform critical functions including monitoring domestic and international class action cases, evaluating potential claims, recommending lead plaintiff status, and providing legal advice to ASRS's Securities Litigation Oversight Committee. The services are structured on a contingency basis, with the law firm absorbing legal costs and potential fees not exceeding 25% of any settlement amount, subject to court approval.

The master agreement was awarded to Grant & Eisenhofer P.A., a Delaware-based law firm, through Solicitation No. BPM005015 by the Arizona State Procurement Office. The initial contract was executed on August 29, 2023, with an original term of twelve months and potential extensions up to five years. The contract covers the state of Arizona and includes recent amendments that extend the performance period, with Amendment No. 2 extending the contract to August 28, 2026. Notably, the amendments include provisions addressing artificial intelligence usage, electronics and information technology product compliance, and specific labor sourcing restrictions, reflecting the state's commitment to ethical and responsible contracting practices.