Securities Litigation Counsel

The Arizona State Retirement System (ASRS) Master Agreement CTR067444 is a specialized Indefinite Delivery Vehicle focused on providing comprehensive securities litigation counsel services. The IDV enables ASRS to engage legal services for monitoring domestic and international class action cases, evaluating potential corporate wrongdoings, and developing strategic litigation recommendations. Under this master agreement, the contractor can be designated as lead counsel for specific cases, with potential fees structured on a contingent basis not exceeding 25% of any settlement amount, subject to court approval.

The master agreement is awarded to Saxena White PA, a law firm based in Boca Raton, Florida, and covers the state of Arizona for an initial twelve-month period with potential extensions. The current contract term runs from August 29, 2023, to August 28, 2024, with the possibility of renewal up to a maximum aggregate term of five years. The contract is classified as a Master Agreement and includes comprehensive professional liability insurance, with policies providing up to $10,000,000 in coverage per claim/aggregate. Subsequent amendments have addressed contract extensions, AI usage guidelines, and compliance with state regulations, ensuring ongoing adaptability and legal compliance.