Robert Stern

Partner

Washington, D.C., New York

Rob Stern, a partner in the Washington, D.C., and New York offices, has extensive experience litigating civil and government enforcement actions on behalf of financial services institutions, Fortune 100 companies and officers and directors of public companies. 

Rob also has represented numerous companies and individuals before the Securities and Exchange Commission and in FINRA arbitrations.

Rob has been nationally recognized as a leader in securities litigation by Legal 500 and SuperLawyers. Rob has been involved with many of the most complex and challenging securities class actions over the past 20 years. Rob also has particular expertise litigating mortgage-backed securities and structured products claims, accounting fraud matters as well as claims involving derivative instruments. He routinely represents financial institutions, residential mortgage originators, and mortgage servicers in civil litigation and regulatory enforcement matters. He also is a faculty member for the Practicing Law Institute’s Securities Litigation program.

Prior to joining Orrick, Rob was a partner at O’Melveny & Myers LLP.

    Civil Securities and Financial Services Litigation

    • Lead counsel for subprime mortgage originator in connection with exposure arising out of the origination and securitization of subprime and Alt-A mortgages.
    • Successfully defended a government-sponsored entity in securities class action, ERISA litigation, and shareholder derivative suits alleging failure to adequately disclose subprime and Alt-A mortgage exposure.
    • Successfully defended a government-sponsored entity in securities class action, ERISA litigation, and shareholder derivative suits filed after company announced $9 billion restatement of earnings.
    • Secured complete dismissal of a class action challenging a $4 billion cash tender offer in connection with the sale of a worldwide provider of Web-based software solutions and services to the automotive industry.
    • Successfully defended a Fortune 50 investment bank in securities class action, shareholder derivative suits, and FINRA arbitrations arising out of illiquidity in the auction-rate securities markets.  Obtained a complete dismissal of the class action and numerous successful arbitration results.
    • Lead counsel for former Audit Committee Chairman in shareholder derivative litigation arising out of the Company’s payments to the AUC and criminal plea. Obtained dismissal without individual liability.
    • Lead counsel for former CFO of major automotive parts supplier in securities class action and shareholder derivative litigation based on allegations of accounting fraud. Achieved a favorable resolution of all liability.
    • Represented former Chairman and CEO of Fortune 100 Internet Media company in securities class action, shareholder derivative, and shareholder opt-out litigation. Achieved a favorable resolution of all liability.
    • Represented former Enron CEO in securities class action and shareholder derivative litigation around the country filed in the wake of the energy giant’s bankruptcy.
    • Represented former WorldCom director in securities class action and shareholder opt-out litigation around the country. Achieved a favorable resolution of all liability.
    • Represented major financial institution in In re Initial Public Offering Securities and Antitrust class action litigation.

    SEC Enforcement Experience

    • Represented Fortune 50 financial institution in enforcement matter arising out of illiquid structured products with very favorable resolution. 
    • Successfully represented a Fortune 500 mortgage servicer in an enforcement matter with no action taken.
    • Represented Fortune 50 financial institution in multiple enforcement actions with favorable resolutions achieved.
    • Represented Fortune 500 consumer services company in enforcement action with favorable resolution.
    • Represented major subprime mortgage originator in subprime enforcement action and achieved very favorable resolution.
    • Represented CFO of major automotive parts supplier in enforcement action with favorable resolution achieved.
    • Represented former Chairman and CEO of major Internet media company in enforcement proceeding with no action taken.


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