Securities Fraud Litigation

Bernstein Liebhard LLP is among a select group of law firms recognized for their track record in fighting securities fraud. The Firm has been recognized by The National Law Journal for five consecutive years as one of the top plaintiffs’ firms in the country. In 2007, The National Law Journal named only thirteen firms to the list. The Firm is one of only two firms chosen for the list in all five years; of those two, it is the only firm to have securities litigation as its primary focus. In each instance, the editors of The National Law Journal considered such factors as the "exemplary work" performed by the listed firms and the results that they achieved.

In 2007, Bernstein Liebhard LLP was one of only six plaintiffs' securities class action law firms listed in The Legal 500, a guide to the best commercial law firms in the United States. According to its editor, The Legal 500 is an independant "guide to 'the best of the best' - the pre-eminent firms in the world's strongest and most competitive legal market."

Our reputation for excellence is not confined to recognition by industry publications. The Firm's reputation also has been recognized by the courts that have appointed Bernstein Liebhard LLP to leadership roles in complex class action litigations. In securities litigation alone, Bernstein Liebhard LLP has been responsible for recoveries on behalf of shareholders that have reached approximately $2 billion.

The class actions the Firm prosecutes primarily involve publicly-traded corporations and their officers and directors, who disseminate materially false and misleading statements to the investing public about the company's financial condition, results of operation, and/or products and services. Generally, these statements are made in other company press releases, the news media, quarterly and annual financial statements, and various other SEC filings. Typically, when the truth is publicly revealed, defrauded investors, who purchased the company's securities at prices artificially inflated by the false and misleading statements, experience an economic loss in the value of their securities.

The Firm's attorneys are committed to enforcing the disclosure requirements of the securities laws and the corporate governance rules of corporations that issue publicly-traded securities. Our attorneys have actively tried and/or settled scores of actions to successful conclusion. Many of the Firm's attorneys have experience as federal and state prosecutors, including experience trying significant cases, including securities. Others have SEC and accounting backgrounds.

The Firm also prosecutes shareholder rights class actions in state courts involving challenges to the fairness of, and the consideration offered in, transactions between publicly-traded corporations. Generally, these actions arise in the context of corporate mergers and acquisitions, which are consummated in the absence of a fair process and a fair price.

Commentators and politicians agree that effective corporate governance is essential to the growth of the public's securities markets. Despite recent indications that the government will act to enforce corporate accountability, the government lacks the resources to go it alone. The shareholder derivative action, therefore, has been universally recognized as a crucial tool in assuring the integrity and accountability of corporate officials of publicly-traded corporations. The Firm has played a leading role in using litigation to effect corporate governance improvements that are intended to strengthen corporate responsibility, as well as the democratic rights of public shareholders.

If you have questions or would like more information about our securities litigation practice, please e-mail your request to info@bernlieb.com.

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