Stephen M. Knaster

Stephen Knaster is of counsel in the San Francisco office, and is a member of the Securities Litigation Group.  Mr. Knaster’s practice focuses on the defense of issuers, officers, directors, underwriters, accountants, venture capital investors and financial institutions throughout the United States and internationally in all areas of securities litigation, including shareholder class actions, derivative actions, merger & acquisition litigation, SEC enforcement proceedings and NASD proceedings. 

Mr. Knaster’s extensive experience in defending and counseling clients in securities related matters includes the following notable or recent representative engagements:

• Successfully defended CFO of large option market maker in NASD enforcement trial resulting in a complete victory for client with dismissal of all charges by hearing panel.
• Won dismissal of all claims against software manufacturer of internet security products in federal securities class action alleging accounting misstatements.
• Won dismissal of all claims against directors and venture capital funds in state litigation arising from merger of large internet media companies.
• Won Tenth Circuit appeal affirming dismissal of all claims against officers and directors in a federal securities class action alleging financial fraud in connection with a restatement.
• Significantly contributed toward successful defense of CEO of computer manufacturer in federal securities class action jury trial.  The Northern California jury found in favor of our client on all claims.  Selected as a Top Ten Defense Verdict of 2002 by The National Law Journal.
• Successfully opposed class certification resulting in plaintiffs dismissing all claims against large multi-level marketing company and its officers and directors in case alleging state law and federal securities claims.
• Won summary judgment for CD-ROM chip manufacturer and its officers and directors in a securities class action and successfully defended appeal.
• Won dismissal of all claims against CEO of software manufacturer in option holders class action arising out of merger and successfully defended appeal.
• Successfully negotiated dismissals of investment banks for no-payment in several federal securities class actions.
• Successfully defended officers and directors of software company in SEC investigation that led to no charges brought against clients.
• Representing officers and directors of large publicly traded REIT and mortgage provider in several derivative actions alleging state law claims based on regulatory violations and resulting securities class action lawsuits.
• Representing major accounting firm in malpractice action in connection with bankruptcy of sub-prime mortgage lender.

Before joining Orrick, Mr. Knaster was counsel at Clifford Chance, and senior counsel at Brobeck, Phleger & Harrison. 

Admitted in

• California
• New York
• District of Columbia

Court Admissions

United States Court of Appeals

• Ninth Circuit
• Tenth Circuit

United States District Court

• Central District of California
• Eastern District of New York
• Northern District of California
• Southern District of New York

Memberships

• American Bar Association
• Bar Association of San Francisco
• State Bar of California
• New York State Bar Association
• District of Columbia Bar

Multimedia

Publications

• Mr. Knaster has authored numerous articles on the defense of securities class actions and related issues which have appeared in the Securities Reform Act Litigation Reporter, and publications offered through the American Bar Association, Securities Industry Association, Practicing Law Institute, Securities Regulation Institute, ABA Committee of Corporate Counsel, PLUS D&O Symposia, PLUS International Conference, D&O Liability Conference and the ABA Annual Meeting.