Christine M. Fox

Catalent: Ninety Interviews and 3.8 Million Pages

Catalent packages other companies' drugs — into the syringe, the vial, the capsule — under long-term supply contracts. Its vaccine work made the pandemic very good for the share price. Investors alleged that when the COVID work fell away in mid-2021, the company kept the growth story going with accounting and channel-stuffing schemes, and that keeping pace with the resulting targets meant cutting corners on safety and quality at the plants doing the work.

Christine Fox and her co-lead team spent nearly three years on City of Warwick Retirement System v. Catalent in the District of New Jersey, litigating for a class of investors who bought the stock between August 30, 2021 and May 7, 2023, with the Public Employees' Retirement System of Mississippi serving as her firm's lead-plaintiff client. They interviewed roughly ninety former employees, reviewed some 3.8 million pages of documents, worked with experts and took seventeen depositions.

Former employees can describe what a facility actually did from day to day, who reported what to whom, and when information moved. Documents test those accounts across departments, custodians and time. Depositions set each witness beside the company's own records, so that a disputed point can be confirmed, qualified or contradicted before mediation. Fox's team built the record in stages, testing each source against the next.

In June 2024 the case survived dismissal in large part. The court sustained claims about the shutdown of the Brussels facility, the condition of the production facilities generally — Brussels, Bloomington, Harmans — compliance with GAAP, and the company's ability to manage supply and inventory. Every defendant stayed in, and the full class period survived.

The settlement was $78 million, and no objections were filed. The June 2026 settlement hearing was canceled, and Judge Zahid Quraishi decided the motions on the papers, entering final judgment on June 22, 2026.

Oak Street Health: What the Number Means

Oak Street Health ran primary-care centers for Medicare-eligible patients and described its growth as the fruit of community outreach. Investors alleged that when COVID closed that outreach down, the company was paying marketing agents for referrals and marketing free transportation to prospective patients, and did not say so.

Fox supervised and took part in a discovery record of more than 3.5 million pages, fourteen third-party subpoenas and nineteen depositions, with further witnesses prepared whose depositions became unnecessary when the case resolved. She tied custodians and records to the elements of the claim, identified witnesses who could explain key documents, and kept the company's chronology aligned with the damages analysis. She traveled for the depositions and for an in-person mediation in Los Angeles in March 2024, which led to roughly two more months of negotiation and a mediator's proposal accepted that May.

The recovery was $60 million against approximately $386 million in recoverable damages estimated by plaintiffs' expert, putting the class recovery close to sixteen percent of estimated damages — a multiple of typical securities-class-action recovery rates. Judge Jeffrey Cummings granted final approval on December 12, 2024.

Nielsen: Eighteen Witnesses and a Privacy Law

Nielsen measured what people bought and what they watched. The investor case concerned its "Buy" business: an undisclosed trend of declining customer spend, the goodwill still carried on that segment in 2017 and 2018, and how ready the company really was for the European Union's General Data Protection Regulation. It drew attention in the early GDPR period for the plain reason that privacy compliance had not previously been the thing a share price fell on.

Before the amended complaint was filed, the investor team identified 656 former employees, contacted 576 and interviewed eighty-nine. Eighteen became confidential witnesses in the pleading, and roughly half of them were outside the United States — which turns a witness campaign into a scheduling problem across time zones and a judgment problem about each account, one at a time.

Fox's team retained forensic accountants to reconstruct the valuation inputs behind the company's discounted-cash-flow and goodwill assessments, connecting operating information to the assumptions, forecasts and impairment analysis that reached public reporting. The complaint was built so that documents and testimony arriving later could be tested against the same theory of investor loss rather than a new one.

They arrived: nearly a million pages of Nielsen documents, twenty-one fact and expert depositions, a corporate deposition for which the company produced three designees, and eleven current or former employees examined individually. Two mediations followed, in December 2021 and February 2022, and the case resolved on the mediator's proposal for $73 million. Judge Jesse Furman approved the settlement in July 2022, and a damages expert helped build the distribution method that moved the recovery into individual claims. The theory pleaded before discovery remained the theory on which the case ultimately resolved.

Staying on the File

Fox stays on matters from the first witness interview through claims administration. That continuity lets her measure a pre-filing account against later testimony, records and the damages model, separate what discovery corroborated from what still rests on a contested witness, and build an allocation plan from the claims that survived the developed record.

Practice and Service

Fox is a partner in Labaton Keller Sucharow's New York office and has represented investors for more than twenty-five years. Her earlier matters include $140 million from Barrick Gold, $48 million from CVS Caremark and $47 million from Nu Skin, and she is currently litigating against Boeing, Charter Communications and Merck, among others.

She co-chairs the New York City Bar Association's Securities Litigation Committee and its annual securities litigation and enforcement conference. In January 2026 she took part in a program on the SEC's approach to shareholder proposals under Rule 14a-8, after the Division of Corporation Finance announced in November 2025 that it would stop responding substantively to most no-action requests for the 2026 proxy year. Rule 14a-8 gives shareholders a channel to raise governance issues before they become damages claims.

Within the firm she chairs the Diversity Committee and the Pro Bono Committee and sits on the Investigations Committee. She holds a bachelor's degree from Cornell and a law degree from the University of Michigan, and was admitted in New York in 1995 and in the federal courts for the Southern and Eastern Districts of New York.