Robert Stern

Partner

Washington, D.C., New York

Rob Stern is the Co-Chair of the Firm’s White Collar, Investigations, Securities Litigation & Compliance practice group.

Rob is a nationally ranked securities litigator with extensive experience litigating civil and government enforcement actions on behalf of financial services institutions, Fortune 100 companies and officers and directors of public companies.

For the past 20 years, Rob has handled many of the most complex financial services and civil and governmental securities matters. Rob possesses particular expertise litigating claims involving accounting-related matters, structured products, mortgages, futures and derivatives. Rob routinely represents financial institutions, public companies, officers and directors.

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.

  • Civil Securities and Financial Services Litigation Experience

    • Lead counsel for a multinational life sciences corporation in a multibillion-dollar securities class action arising out of alleged product liability lawsuits.
    • Lead counsel for a large financial brokerage firm, successfully obtaining partial dismissal and ultimate de-certification of a class action stemming from losses suffered by traders in futures options in connection with extreme market volatility.
    • Lead counsel for a medical device company obtaining 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

    • Serves as lead counsel in an extremely high-profile criminal and civil enforcement matter, representing a former Big Four Accounting Firm executive being prosecuted by the United States Attorneys’ Office for the Southern District of New York (SDNY) and the SEC concerning alleged leaks of confidential information and ethics violations.
    • Representing a publicly traded, international company in a high-profile SEC investigation arising out of a front-page Wall Street Journal article.
    • Representing head of mortgage trading desk in connection with an SEC enforcement matter.
    • Represented Forbes Global 50 financial institution in litigation arising out of underwriting of municipal bonds.
    • 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.

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