Bernstein Litowitz Berger & Grossmann LLP in New York is widely regarded as the leading plaintiff firm in securities litigation, thanks to its strong track record of recoveries and its on-going presence in some of the most complex and high-value cases in the market. Clients remark that the firm delivers ‘outstanding services with a true capability to listen to the client', and note that its partners ’only recommend cases that are high-profile and extremely promising'. The New York office is home to a strong bench whose members have been involved in some of the largest securities class action recoveries of all time. The lead partners are Salvatore Graziano, Hannah Ross and Gerald Silk. Silk, Ross, veteran litigator Max Berger and corporate governance specialist Jeroen van Kwawegen helped to recover $1bn in a federal securities class action lawsuit against Wells Fargo & Co., which allegedly issued false and misleading statements to investors regarding the status of its compliance with regulatory Consent Orders requiring the bank to remedy serious risk management deficiencies. Ross and John Rizio-Hamilton are currently acting as co-lead counsel in a securities class action against ExxonMobil Corporation concerning its activities in the Permian Basin. Up-and-coming partners Rebecca Boon and Katherine Sinderson are also key members of the New York group. The Chicago office also has key talent, including Avi Josefson, who is co-head of the firm’s case development and client advisory group. John Browne retired in 2023.
Testimonials
Collated independently by Legal 500 research team.
‘Outstanding services with a true capability to listen to the client and its specific approach towards securities litigation. A deep knowledge for how non-US clients look up on securities litigation in the US and extraordinary skills in adapting to the non US client needs and understanding.’
‘The individuals are more focused on the legal approach than to sell a case to the client. As a lawyer that is much appreciated.’
Key clients
- ACATIS Investment Kapitalverwaltungsgesellschaft mbH
- Bayerische Landesbank
Work highlights
- In re Wells Fargo & Company Securities Litigation (S.D.N.Y.): Represented Handelsbanken Fonder AB and Louisiana Sheriffs’ Pension & Relief Fund in a federal securities class action lawsuit against Wells Fargo & Company, reaching a $1 billion cash settlement agreement on behalf of clients and a class of investors. The historic $1 billion settlement is the top US securities class action settlement in 2023, one of the top six in the past decade, and among the top 17 of all time.
- In re Kraft Heinz Securities Litigation (N.D. Ill.): Represented Union Asset Management Holding AG in a securities fraud class action lawsuit against The Kraft Heinz Company, recovering $450 million for stockholders. The $450 million settlement is among the top 50 securities settlements of all time.