Stanley D. Bernstein
Stanley D. Bernstein is a founding partner of Bernstein Liebhard LLP and has successfully represented plaintiffs in complex commercial litigation, securities fraud litigation, shareholder and derivative litigation, and antitrust litigation for over thirty-five years. Mr. Bernstein is a recognized leader in the securities and corporate governance bar. He frequently addresses lawyers and business professionals concerning various aspects of plaintiffs’ litigation and was featured as the cover story in Directorship magazine in an interview entitled “Investors v. Directors.” Mr. Bernstein also heads the Firm’s qui tam/whistleblower practice group.
Mr. Bernstein had been widely recognized for his achievements:
- Lawdragon named him one of the “500 Leading Lawyers in America,” “500 Leading Litigators in America,” “500 Leading Plaintiffs’ Lawyers,” and “100 Lawyers You Need to Know in Securities Litigation;
- The National Association of Corporate Directors and Directorship magazine listed him in the Directorship 100 – the list of “The Most Influential People in the Boardroom” (2009-2012);
- Named a Super Lawyer by Super Lawyers magazine (2007-2009; 2012-2016);
- Recommended by The Legal 500 (2011-2012; 2014-2016);
- Recognized by Benchmark Plaintiff: The Definitive Guide To America’s Leading Plaintiff Firms & Attorneys (2012-2015); and
- Ranked in Chambers USA Guide (2012-2016).
Mr. Bernstein has litigated high-profile cases against the most prominent defense firms in the country. He has earned a reputation for being a tenacious litigator who has negotiated some of the largest securities fraud settlements in history. For example, as Chair of the Plaintiffs’ Executive Committee in the In re Initial Public Offering Securities Litigation, Mr. Bernstein negotiated a $586 million settlement of 300 coordinated actions, after seven full-day mediation sessions. He also negotiated significant settlements in In re Marsh & McLennan Cos., Inc. Securities Litigation ($400 million); In re Royal Dutch/Shell Transport Securities Litigation ($166.6 million); and In re Bankers Trust Securities Litigation ($58 million, representing 100% of losses).
Mr. Bernstein is also eager to try any case when the interests of a client are best-served through trial. For example, he was trial counsel for stockholders in a trial in the Delaware Chancery Court that invalidated an anti-takeover device in Shapiro v. Quickturn Design Systems, Inc. He was also trial counsel in a pro bono case representing the Westchester Day School in litigation concerning a bitter zoning dispute. After obtaining a favorable verdict, Mr. Bernstein negotiated a $4.75 million settlement – the then-highest reported recovery under the applicable federal statute.
Mr. Bernstein also led an individual action on behalf of the New Mexico Public Employees Retirement Association (“PERA”) against Wells Fargo Bank and affiliates arising from defendants’ mismanagement of PERA’s securities lending program. On the eve of trial, Mr. Bernstein negotiated a $50 million recovery for PERA, representing over 65% of PERA’s damages.
Mr. Bernstein has also been lead counsel in many of the leading securities cases enforcing and expanding the rights of shareholders, including in In re Sears, Roebuck Derivative Litigation and In re Archer Daniels Midlands Corp. Derivative Litigation (pioneering cases which improved corporate governance at both companies).
Mr. Bernstein also represents corporations in complex commercial litigation. Most recently, Mr. Bernstein represented the Trustee of the Actrade Liquidation Trust in two lawsuits; the first, Meer v. Aharoni, No. 5141-CC (Del. Ch.), an action against Actrade’s former chairman for misappropriation of funds and fraud resulting in the ultimate collapse of Actrade; the second, Meer v. Deloitte & Touche, LLP, No. 11-CV-06994 (HB) (S.D.N.Y.), a malpractice action against Actrade’s accountant for failing to conduct proper audits. The cases resulted in a multi-million dollar settlement.
Mr. Bernstein also co-chairs the Firm’s antitrust practice and is co-lead counsel in the In re Processed Egg Products Antitrust Litigation, No. 08-MD-2002 (E.D. Pa.), in which partial settlements have been reached with a number of the defendants, resulting in a recovery in excess of $50 million for the class to date.