Benjamin Galdston

Partner
San Diego

Tel: +1 (858) 720–3188
Fax: +1 (858) 793–0323Download vCard

Mr. Galdston practices out of the firm's California office and focuses on complex litigation, securities fraud class actions, and derivative and corporate governance matters.  

He has participated in the prosecution and resolution of many of the firm's most significant matters, which have returned billions of dollars to investors.  The high-profile securities fraud class actions Mr. Galdston has litigated include, among others: 

    • In re McKesson HBOC Securities Litigation, which settled for more than $1 billion – the largest recovery in a securities class action Ninth Circuit history;
    • In re Lehman Brothers Holdings, Inc., which recovered more than $735 million for shareholders of the now defunct brokerage;
    • In re Citigroup Bond Litigation, a $730 million dollar recovery;
    • In re Wachovia Corp. Securities Litigation, a $627 million dollar recovery for investors;
    • In re Washington Mutual, Inc. Securities Litigation, the largest recovery at $208.5 million ever in a securities class action in the Western District of Washington;
    • In re Maxim Integrated Products, Inc. Securities Litigation, which settled for $173 million and represents the largest stock option backdating settlement reached in the Ninth Circuit and the third-largest backdating settlement overall; and
    • In re New Century, a $125 million recovery.

Mr. Galdston has represented institutional investors in prosecuting novel legal claims in individual direct actions, as well, including: In re EMAC Securities Litigation, a direct action arising from a private offering of asset-backed securities; and In re AXA Rosenberg Investor Litigation.  The AXA litigation was brought under the Investment Advisers Act of 1940, and resulted in recovery over $65 million for investors in AXA Rosenberg’s funds and strategies who had incurred losses as a result of an error in the company’s quantitative investment model.   

Mr. Galdston has been at the forefront of litigation on behalf of investors arising out of the financial crisis and residential mortgage industry.  Together with his partners, he is currently leading class action litigation against the largest RMBS Trustee Banks concerning securities totaling more than $2.3 trillion in original principal balance.

Mr. Galdston is also involved in the firm’s client development initiatives, and frequently speaks and publishes regarding institutional investor rights and corporate reform.  Mr. Galdston often hosts BLB&G’s Real-Time Speaker Series webcasts regarding issues of importance and interest to the institutional investor community.

Mr. Galdston earned his law degree from the University of San Diego School of Law, where he served on the Moot Court Board, competed in national Moot Court tournaments and directed the University of San Diego School of Law National Criminal Procedure Moot Court Tournament. Following law school, Mr. Galdston represented investors in securities fraud actions at another national law firm.

Previously, Mr. Galdston was the sole proprietor of a litigation support provider in the Bay Area, where he designed, constructed and maintained relational document databases for small law firms litigating document-intensive cases.  He has authored several articles concerning e-discovery practice in the federal courts.

Mr. Galdston is a member of the California Bar Association and the Federal Bar Association, and is a former president of the Greater San Diego Barristers Club.  For his professional achievements and legal excellence, Mr. Galdston has been recognized by Legal 500 as a leading practitioner in the field.

Education

  • University of San Diego School of Law, 2000, J.D., American Trial Lawyers' Association Book Award for Outstanding Scholarship in Appellate Advocacy; American Jurisprudence Award for Property; Computer Assisted Learning Institute Award for Excellence
  • Oberlin College, 1989, B.A., Sociology and Soviet Area Studies

Bar Admissions:

  • California
  • U.S. District Court, Southern District of California
  • U.S. District Court, Northern District of California
  • U.S. District Court, Central District of California
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