Distinguished Leader: Jeremy A. Lieberman
Managing Partner at Pomerantz
October 23, 2020 at 09:48 AM
4 minute read
What are some of your proudest recent achievements?
I led a securities fraud class action litigation against Brazilian oil giant, Petrobras, for allegations arising from a multi-billion-dollar, decades long bribery and corruption scandal. We secured a $3 billion settlement for damaged Petrobras investors, which is the largest securities class action settlement in a decade; ; the largest settlement ever in a securities class action involving a foreign issuer; the fifth-largest securities class action settlement ever achieved in the United States; the largest securities class action settlement achieved by a foreign lead plaintiff; and the largest securities class action settlement in history not involving a restatement of financial reports. Not only did we get a historic settlement, we litigated important issues in the U.S. Court of Appeals for the Second Circuit regarding class certification and secured precedent-setting rulings.
I have spent years crisscrossing the globe, advising but also paying attention to the needs of our institutional investor clients. The U.S. Supreme Court's 2010 decision in Morrison v. Nat'l Australia Bank barred purchasers of securities on non-U.S. exchanges from pursuing claims in U.S. courts under the federal securities laws. The Morrison ruling presented a seemingly insurmountable hurdle for institutional investors, who increasingly invest in securities both in the U.S. and abroad. Indeed, often the same institutional investor will purchase securities of dual-listed securities on both domestic and foreign exchanges but is only able to recover monies in securities litigation for transactions on the U.S. exchange. In a securities class action against pharmaceutical behemoth Perrigo Co. plc, I achieved a critical victory for investors in November 2019, when Judge Arleo of the United States District Court for the District of New Jersey certified classes of investors that purchased Perrigo securities on both the New York Stock Exchange and the Tel Aviv Stock Exchange. This is the first time that a U.S. district court has certified a class of investors on a non-U.S. exchange since Morrison. I hope this decision paves the way for investors that purchase securities on non-U.S. exchanges, particularly investors in dual-listed securities, to procure a recovery in the U.S. courts which would have otherwise been foreclosed by Morrison.
Name a lawyer or mentor whose leadership inspired you.
When I joined Pomerantz as an associate in 2004, Stanley M. Grossman was managing partner, and he is still at Pomerantz as senior counsel. Stan, a tireless defender of shareholder rights and a champion for injured investors, inspired me with his leadership and was a formative mentor in my move from the defense to plaintiffs' side of securities fraud litigation. I like to think that leadership skills I learned from Stan serve me well now as managing partner of the firm. Stan led by example, exhibiting a tireless work ethic, sharp strategic thinking, fierce advocacy, a drive to excel tempered by an unfailing ethical compass, terrific team-building chops, sense of humor, and an eagerness to listen.
How are the business and profession of law changing, and how should lawyers adapt for the future?
Lawyers have always needed to adapt to the changing social, cultural, and legal landscape. The best lawyers are the ones that have the elasticity of imagination to respond quickly to shifts and the foresight to act as agents of change. At Pomerantz we have developed interesting and novel ways to address Morrison in a globalized world, finding ways for injured investors to recover abroad and in the United States. We are also involved in litigation arising from concerns raised by the #MeToo movement and have earned success in the areas of computer data breaches and virtual reality games.
What is the best advice for someone considering a career in law, or somebody already in the profession who is seeking to make a greater impact?
Find your passion, what really interests you. Whether it's entertainment law or corporate law, pursue it with passion, and success will follow. If you like what you're doing, that's already a good part of the reward.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllClimate Disputes, International Arbitration, and State Court Limitations for Global Issues
Judicial Face-Off: Navigating the Ethical and Efficient Use of AI in Legal Practice [CLE Pending]
4 minute readTrending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250