Mark Lebovitch

Partner
Tel: +1 (212) 554-1519
Fax: +1 (212) 554-1444Download vCard

Mr. Lebovitch heads the firm's corporate governance litigation practice, focusing on derivative suits and transactional litigation. Working with his institutional investor clients, he has helped develop critical new law in the fight to hold management accountable by aggressively pursuing meaningful and novel challenges to alleged corporate governance related misconduct and anti-shareholder practices.

Selected current and past representations include: 

  • In re DISH Corp. Shareholder Litigation:  derivative suit challenging misappropriation and front-running by a controlling shareholder, costing investors over $800 million;
  • Insys Derivative Litigation: challenging a board-approved illegal marketing scheme that actively encouraged off-label marketing of a deadly opioid fentanyl drug; 
  • In re TIBCO Software Stockholder Litigation:  pursued novel and precedent-setting merger agreement reformation claims and received 33% of potential damages shortly before trial;
  • In re Freeport-McMoRan Derivative Litigation: settled for a cash recovery of nearly $154 million, plus corporate governance reforms;
  • In re Jefferies, Inc. Stockholder Litigation: settled for a $75 million net payment paid entirely to a class of former Jefferies investor through a first-of-its-kind dividend;
  • Safeway Appraisal Litigation:  provided clients with a nearly 30% increase in value above the negotiated merger consideration;
  • In re News Corp. Shareholder Derivative Litigation: settled for a $139 million cash recovery, and an unprecedented package of corporate governance and oversight enhancements;
  • In re El Paso Corp. Shareholder Litigation: resulted in a $110 million post-closing settlement and a ruling that materially improved the way M&A financial advisors address conflicts of interest;
  • In re Delphi Financial Group Shareholder Litigation: challenged the controlling shareholder’s unlawful demand for an additional $55 million in connection with the sale of the company, resulting in the recovery of $49 million;
  • In re Pfizer Derivative Litigation:  resulted in a $75 million payment and creation of a new Healthcare Law Regulatory Committee, which sets an improved standard for regulatory compliance oversight by a public company board of directors; and
  • In re ACS Shareholder Litigation:  settled on the eve of trial for a $69 million cash payment to ACS shareholders. 

Mr. Lebovitch pioneered challenges to the improper but widespread practice of using “Proxy Put” provisions in corporate debt agreements, obtaining pro-shareholder rulings in cases like In re Amylin Shareholders LitigationIn re SandRidge Energy, Inc. Shareholder Litigation, and In re Healthways, Inc. Shareholder Litigation, which have caused the industry to materially change its use of such provisions.  He also prosecutes securities litigations, and in that capacity, was the lead litigation attorney in In re Merrill Lynch Bondholders Litigation, which settled for $150 million; and a member of the team prosecuting In re Bank of America Securities Litigation, which settled for $2.425 billion.  Currently, he is the lead attorney prosecuting In re Allergan Proxy Securities Litigation.

Mr. Lebovitch has received national recognition for his work in securities and M&A litigation. He was selected 2016 national “Plaintiff Attorney of the Year” by Benchmark Litigation and is regularly honored as a New York “Litigation Star” by Benchmark in its exclusive annual list of top practitioners Named a leading lawyer in M&A litigation by Best Lawyers®, Mr. Lebovitch was selected as its 2016 M&A Litigation “Lawyer of the Year” for New York City. He is one of Lawdragon’s “500 Leading Lawyers in America,” a New York Super Lawyer, and is recognized by Chambers USA and Legal 500 as one of an elite group of notable practitioners in securities and M&A litigation.  In 2013, Law360 named him as one of its five “Rising Stars” nationally in the area of securities litigation – the only plaintiff-side attorney so selected.  In 2012, The Deal magazine prominently profiled Mr. Lebovitch as one of the top three lawyers nationally representing shareholder plaintiffs in M&A litigation in its feature article, “The Troika Atop the M&A Plaintiffs’ Bar.”

Mr. Lebovitch is a member of the Board of Advisors for both the Institute for Law and Economics and the NYU Institute for Corporate Governance and Finance, and is an author and a frequent speaker and commentator at industry events on a wide range of corporate governance and securities related issues.  His publications include "Of Babies and Bathwater: Deterring Frivolous Stockholder Suits Without Closing the Courthouse Doors to Legitimate Claims,” “Making Order Out of Chaos: A Proposal To Improve Organization and Coordination in Multi-Jurisdictional Merger-Related Litigation," “‘Novel Issues’ or a Return to Core Principles? Analyzing the Common Link Between the Delaware Chancery Court’s Recent Rulings in Option Backdating and Transactional Cases” (NYU Journal of Law & Business, Volume 4, Number 2), “Calling a Duck a Duck: Determining the Validity of Deal Protection Provisions in Merger of Equals Transactions” (2001 Columbia Business Law Review 1) and “Practical Refinement” (The Daily Deal, January 2002), each of which discussed evolving developments in the law of directors’ fiduciary duties.

Mr. Lebovitch clerked for Vice Chancellor Stephen P. Lamb on the Court of Chancery of the State of Delaware, and was a litigation associate at Skadden, Arps, Slate, Meagher & Flom in New York, where he represented clients in a variety of corporate governance, commercial and federal securities matters.

Education

  • New York University School of Law, 1999, J.D.
  • Binghamton University - State University of New York, 1996, B.A.

Bar Admissions:

  • New York
  • U.S. District Court, Southern District of New York
  • U.S. District Court, Eastern District of New York