What Startups Need to Know About the Revised Reg D
PartnerWashington, 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 has also represented numerous
companies and individuals before the Securities and Exchange Commission and in
From starting his career handling some of the most complex shareholder securities class actions suits of the decade to navigating the unknown terrain of post-crash mortgage-backed products litigations and investigations, Rob has been involved with many of the most complex and challenging securities class actions and SEC enforcement matters over the past 20 years. He also has particular expertise litigating mortgage-backed securities and structured products claims, accounting fraud matters as well as claims involving derivative instruments. Rob routinely represents financial institutions, residential mortgage originators, and mortgage servicers in civil litigation and regulatory enforcement matters.
Rob is a faculty member for the Practicing Law Institute’s Securities Litigation program. Rob has also been nationally recognized as a leader in securities litigation by The Legal 500 and SuperLawyers. Prior to joining Orrick, Rob was a partner at O’Melveny & Myers LLP.
Civil Securities and Financial Services Litigation
Lead counsel for a medical device company obtaining the dismissal of a securities class action and shareholder derivative suit arising out of alleged False Claim Act and Anti-Kickback Statute violations.
Lead counsel for a 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 a 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 a securities class action, ERISA litigation, and shareholder derivative suits filed after the company announced $9 billion restatement of earnings.
Secured a 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 a former Audit Committee Chairman in a shareholder derivative litigation arising out of the Company’s payments to the AUC and criminal plea. Obtained a 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 the former Chairman and CEO of Fortune 100 Internet Media Company in a securities class action, shareholder derivative, and shareholder opt-out litigation. Achieved a favorable resolution of all liability.
Represented former Enron CEO in a securities class action and shareholder derivative litigation around the country filed in the wake of the energy giant’s bankruptcy.
Represented the former WorldCom director in securities class action and shareholder opt-out litigation around the country. Achieved a favorable resolution of all liability.
Represented a major financial institution in In re Initial Public Offering Securities and Antitrust class action litigation.
SEC Enforcement Experience
Represented Forbes Global 50 financial institution in litigation arising out of underwriting of municipal bonds
Represented head of mortgage trading desk in connection with an SEC enforcement matter.
Represented numerous current and former auditors in connection with SEC and PCAOB formal investigations involving alleged improper professional conduct.
Represented Fortune 50 financial institution in an enforcement matter arising out of illiquid structured products, achieving a very favorable resolution.
Represented a Fortune 500 mortgage servicer with a very favorable resolution.
Represented a Fortune 50 financial institution in multiple enforcement actions with favorable resolutions achieved.
Represented a Fortune 500 consumer services company in an enforcement action with favorable resolution.
Represented a major subprime mortgage originator in a subprime enforcement action, achieving a very favorable resolution.
Represented the CFO of a major automotive parts supplier in an enforcement action with favorable resolution achieved.
Represented the former Chairman and CEO of a major Internet Media Company in enforcement proceeding with no action taken.