November 17, 2014
Leading national legal industry periodical Lawdragon published a special feature profiling BLB&G partner Jerry Silk. In its “Lawyer Limelight,” Mr. Silk discusses the current landscape of securities litigation, in particular the firm’s recent success in recovering over $6 billion on behalf of investors in litigation arising from the subprime crisis. According to Mr. Silk, the core issue at the heart of these cases is “the representations in offering materials [that] are not accurate or truthful as to the quality and value of underlying collateral. That is exactly the kind of conduct for which we hold banks and financial accountable.”
On a more personal note, the feature explored his career path and why he “switched sides” to become a plaintiff attorney after defending securities cases for several years. Mr. Silk cited three primary reasons for the change: “I always identified with the victim, in part due to the fact that my father was a plaintiff attorney and I grew up steeped in his work. Also I identify with the contingency fee model. It is very different from the hourly model, where you get paid regardless of whether you win or lose. In addition, I found that I enjoy crafting and strategizing on 'offense,' if you will, on these cases. The defense/defensive mindset is very different – you are often forced to look for delay tactics, and I enjoy driving the process more than responding to it.”
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