April 23, 2020
Chambers and Partners has once again named BLB&G a top plaintiff securities litigation firm in the nation in its Chambers USA 2020 guide. For another year, BLB&G has been named “Band 1” for plaintiff securities litigation in the Nationwide, New York and California categories - the only firm in the nation with this distinction. Chambers has given the firm its top ranking every year since the publisher first created the category in order to recognize a select number of firms who do this high-profile work.
The Chambers profile describes BLB&G as “market-leading” and the “preeminent plaintiffs’ firm that provides public pension funds and institutional investors with first-class representation in high-value securities litigation” and notes that the firm “has a dominant track record in achieving high-value awards for clients” and “an impressive track record in securing significant corporate governance reforms.”
The legal team is regarded by peers as "terrific” and “a cut above," with one market commentator quoted as saying: “In my mind they are the top securities litigation firm…they’re outstanding lawyers and the quality of their work is always impressive.” A client gives the firm "a very high rating for all aspects of work, expertise and representation.”
The profile highlights several of the firm’s achievements over the time period considered for the rankings, including a $210 million settlement in a case brought against Wilmington Trust, outside auditor KPMG and the underwriters of a 2010 public stock offering for concealing the drastic deterioration of the company’s loan portfolio from investors.
Individually, Chambers recognizes partner Max Berger as a “Star Individual” and named partners Salvatore Graziano, Mark Lebovitch, Gerald Silk and Greg Varallo among an elite group of notable practitioners in the field. Mr. Berger is described as “the dean of the plaintiffs’ Bar” and is noted by Chambers as having “secured some of the largest recoveries ever achieved in securities fraud lawsuits.” A fellow practitioner describes Mr. Berger as “the smartest, most strategic plaintiffs’ lawyer I’ve ever encountered.” Mr. Graziano is described by quoted sources as “the go-to for the biggest cases.” Mr. Lebovitch is commended by quoted sources for his “very smart” approach, with his “particular strength in corporate governance litigation, focusing on shareholder derivative suits” noted in the guide. Mr. Silk is “recognized for his expertise in a range of cases on the plaintiff side,” with a market source quoted as saying, “He’s very good at what he does and is very effective.” Mr. Varallo was ranked as “Band 1” for Delaware Chancery, one of only nine individuals nationwide to be so recognized across both the plaintiff and defense bars.
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