Bernstein Litowitz

Bernstein Litowitz is a United States plaintiffs' law firm specializing in securities class actions, merger litigation, and corporate governance litigation. Founded in 1983 and headquartered in New York City, the firm has litigated on behalf of investors in high‑profile cases arising from financial scandals, corporate fraud, and transactional misconduct. Bernstein Litowitz has been lead or co‑lead counsel in cases against major corporations, financial institutions, and fiduciaries, frequently achieving significant recoveries and precedent‑setting rulings.

History

Bernstein Litowitz was established in the early 1980s amid a period of litigation growth following regulatory and market developments involving Securities Exchange Act of 1934, Sarbanes–Oxley Act, and evolving jurisprudence under Federal Rules of Civil Procedure. The firm grew alongside major events such as the Savings and Loan crisis, the Enron scandal, the WorldCom accounting scandal, and the Financial crisis of 2007–2008, bringing cases related to Initial Public Offering disclosures, merger transactions, and insider trading allegations. Over time, Bernstein Litowitz became involved in litigation tied to regulatory actions by the Securities and Exchange Commission, civil enforcement by the Department of Justice (United States), and appellate decisions from the United States Supreme Court, United States Court of Appeals for the Second Circuit, and other federal circuits. The firm has maintained offices in major litigation hubs, engaging in matters in venues including the United States District Court for the Southern District of New York, Delaware Court of Chancery, and state courts in California, Florida, and Texas.

Practice areas and notable cases

Bernstein Litowitz focuses on securities and shareholder litigation, including claims under the Securities Act of 1933, the Securities Exchange Act of 1934, and breach of fiduciary duty actions in merger and acquisition contexts. The firm has served as lead or co‑lead counsel in cases involving corporate giants such as Enron Corporation, WorldCom, Lehman Brothers, AIG, Citigroup, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Bank of America, Wells Fargo, General Electric, Bayer, Pfizer, Johnson & Johnson, Boeing, Tesla, Inc., Facebook, Alphabet Inc., Apple Inc., Microsoft, Oracle Corporation, Intel Corporation, Qualcomm, Cisco Systems, Amazon (company), Netflix, The Walt Disney Company, ExxonMobil, Chevron Corporation, BP, Valeant Pharmaceuticals International, Theranos, Sears, Roebuck and Co., Macy's, Kmart, Toys "R" Us, Toyota Motor Corporation, Volkswagen, Takata Corporation, Airbus, Uber Technologies, Lyft, Inc., Nokia, BlackBerry Limited, Sprint Corporation, AT&T, Verizon Communications, T-Mobile US, Deutsche Bank, Credit Suisse, UBS, Barclays, Royal Bank of Scotland Group, HSBC, and Merrill Lynch. Representative matters have addressed alleged false SEC filings, misleading earnings guidance, failed due diligence in merger approval processes, and misstatements in IPO prospectuses. The firm has also litigated derivative actions on behalf of corporations against boards arising from alleged breaches of duty at firms like General Motors, Ford Motor Company, American Airlines, Delta Air Lines, and United Airlines Holdings.

Key people

Key lawyers associated with Bernstein Litowitz include senior partners and founding figures who have played roles in major securities cases and institutional investor representation, bringing experience from clerking with judges of the United States Court of Appeals for the Second Circuit, practicing at firms involved in landmark litigation, and participating in academic forums at institutions such as Columbia Law School, New York University School of Law, Harvard Law School, Yale Law School, Stanford Law School, Brooklyn Law School, Georgetown University Law Center, University of Pennsylvania Law School, Chicago-Kent College of Law, Fordham University School of Law, and Boston University School of Law. Leadership has engaged with investor groups including the New York State Common Retirement Fund, the California Public Employees' Retirement System, the Florida State Board of Administration, Teachers' Retirement System of the City of New York, and institutional clients like BlackRock, Vanguard Group, State Street Corporation, Fidelity Investments, Prudential Financial, and TIAA. The firm’s attorneys have participated in dialogues with regulatory bodies such as the Public Company Accounting Oversight Board, Financial Industry Regulatory Authority, and international counterparts including UK Financial Conduct Authority and European Securities and Markets Authority.

Awards and recognition

Bernstein Litowitz and its attorneys have received acclaim in publications and awards from industry observers including The New York Times, The Wall Street Journal, The Financial Times, Bloomberg News, The Washington Post, Reuters, Law360, American Lawyer, Chambers and Partners, Legal 500, Best Lawyers, Super Lawyers, and Benchmark Litigation. The firm has been acknowledged for recoveries in notable cases by investor groups, pension funds, and governance organizations such as Institutional Shareholder Services and Glass Lewis. Attorneys have been profiled in outlets tied to business schools like Harvard Business School and recognized in lists compiled by Crain's New York Business and New York Magazine.

Controversies and litigation impact

Bernstein Litowitz’s role in high‑stakes litigation has occasionally drawn scrutiny over attorneys’ fees, class settlement terms, and the allocation of recoveries to institutional investors versus individual shareholders—subjects referenced in debates before the United States Supreme Court and in rulings from circuits including the Third Circuit, Ninth Circuit, and D.C. Circuit. The firm’s settlements have influenced developments in securities class action procedure, loss causation standards, pleading standards established under Bell Atlantic Corp. v. Twombly and Ashcroft v. Iqbal, and the interpretation of statutes such as the Private Securities Litigation Reform Act of 1995. Criticism and defense of firm practices have appeared in commentary from organizations like the Public Citizen, Economic Policy Institute, Securities Litigation Commentator, and academic articles published in journals of Columbia University, New York University, and Harvard University law faculties. Decisions in cases involving the firm have shaped corporate disclosure practices, institutional investor activism, and the strategies of corporate law departments at firms like Skadden, Arps, Slate, Meagher & Flom, Wachtell, Lipton, Rosen & Katz, Paul, Weiss, Rifkind, Wharton & Garrison, Sullivan & Cromwell, and Cravath, Swaine & Moore.

Category:Law firms based in New York City