Bernstein Litowitz Berger & Grossmann LLP, Securities: Litigation

About

Provided by Bernstein Litowitz Berger & Grossmann LLP

BLB&G's securities litigation team works with individual and institutional clients to recoup losses for defrauded investors due to corporate misconduct. The firm's clients include the most sophisticated and prominent institutional investors worldwide, including public pension funds, Taft-Hartley funds, state attorneys general, state treasurers, and private asset managers.

The team has litigated some of the most complex, high-profile securities fraud actions in history, securing record recoveries for investors. In the process, it has helped to enforce fraud liability beyond corporate management to third-party defendants such as accountants and investment banks, ensuring that all parties are held to account. Recent successes include:

Achieving an $812 million judgment for Fannie Mae and Freddie Mac shareholders in a unanimous trial verdict and award of prejudgment interest against the Federal Housing Finance Agency (“FHFA”).
Obtaining a $1 billion recovery in a securities class action against Wells Fargo—the top U.S. securities class action settlement of 2023 and among the top 17 of all time.
Securing a $450 million recovery in the class action against Kraft Heinz Company, 3G Capital Partners, and former Kraft executives—among the top 50 securities recoveries of all time.
Securing a $77.5 million recovery in the securities class action against Myriad Genetics arising from Myriad’s false statements about the accuracy of its marquee DNA genotyping test, GeneSight.

Chambers Review

Provided by Chambers

Securities: Litigation: Mainly Plaintiff - USA - Nationwide

Band 1

What the Team is Known For

Bernstein Litowitz Berger & Grossman LLP is an impressive plaintiff litigation firm offering notable representation of institutional investors in a variety of securities cases, including MBS and securities fraud cases. It is frequently seen in matters pertaining to breaches of fiduciary duty in M&A transactions on behalf of shareholder clients. The firm has a dominant track record in achieving high-value awards for clients.

Notable practitioners

Salvatore Graziano, Hannah Ross and Jerry Silk are key contacts. They are based in the firm's New York office.

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Work Highlights

Provided by Bernstein Litowitz Berger & Grossmann LLP

Bernstein Litowitz recovered $1 billion following settlement of a securities class action against Wells Fargo alleging the bank made false and misleading statements regarding its compliance with regulatory Consent Orders.