Stanley M. Grossman is a recognized leader in the plaintiffs' securities bar. He was featured in the New York Law Journal article: "Top Litigators in Securities Field -- A Who's Who of City's Leading Courtroom Combatants." Mr. Grossman has litigated securities (individual and class), derivative and antitrust actions with the Firm for 39 years for both individual and institutional clients.

Mr. Grossman heads the Firm's Institutional Investor Practice Group. He led the prosecution of the individual action by the Treasurer of the State of New Jersey and numerous major New Jersey State pension funds against AOL/Time Warner, which settled for approximately $50 million, an amount far in excess of what the clients would have recouped in a related class action. Mr. Grossman also represented the Commonwealth of Pennsylvania in In re Salomon Bros. Treasury Litig., 91 Civ. 5471 (S.D.N.Y.) (obtaining a greater than $100 million recovery), and was lead counsel in First Executive Sec. Litig., CV89-7135 (C.D. Cal.) (obtaining a greater than $100 million recovery).

Mr. Grossman argued the StoneRidge case to the United States Supreme Court. In EBC I, Inc., he convinced the New York State Court of Appeals that a managing underwriter of an issuer IPO owes fiduciary duties to the issuer. Mr. Grossman has worked on many additional cases involving ground-breaking issues, including Rosenfeld v. Black, 445 F.2d 137 (2d Cir. 1971), Wool v. Tandem, 818 F.2d 1433 (9th Cir. 1987); Gartenberg v. Merrill Lynch Asset Mgt., Inc., 740 F.2d 190 (2d Cir. 1984); and Kronfeld v. Transworld Airlines, Inc., 832 F.2d 726 (2d Cir. 1987).

Mr. Grossman is playing a major role in In re Mutual Funds Investment Litigation - Derivative Actions, MDL 15861 (Federated), MDL 15862 (Alliance), MDL 15863 (Putnam and MIS) (D. Md.).  In that action, the Firm filed numerous cases on behalf of mutual funds against the funds' investment advisors for breaches of fiduciary duty and violations of federal securities laws, charging that the advisors breached their obligations to the funds and allowed market timing and late trading in the funds' shares for their own financial benefit.

Mr. Grossman is also leading the Firm's involvement in various matters arising from the subprime mortgage crisis and is involved in Life Enrichment Foundation v. Merrill Lynch & Co. Inc., 07-9633 (S.D.N.Y.), where the Firm represents investors who acquired Merrill Lynch securities as a result of Merrill Lynch's acquisition of First Republic Bank.

Under Mr. Grossman's leadership, the Firm tried Gartenberg v. Merrill Lynch Asset Mgmt., Inc., before Judge Pollack in the Southern District of New York. This was the first derivative action under Section 36(b) of the Investment Company Act of 1940. The combative pressure brought upon the defendants in exposing what many considered to be over-reaching conduct resulted in what is now commonly referred to as the "Gartenberg Memorandum"  - a required document in the mutual fund industry which includes an analysis of all factors that boards of directors must take into account in determining the reasonableness of advisory fees. After completion of the trial in Gartenberg, Judge Pollack noted (Tr. 507):

[I] can fairly say, having remained abreast of the law on the factual and legal matters that have been presented, that I know of no case that has been better presented so as to give the Court an opportunity to reach a determination, for which the court thanks you.

Mr. Grossman was also the principal trial attorney in Rauch v. Bilzerian, 88 Civ. 15624 (Super. Ct. N.J.) (holding that directors owed the same duty of loyalty to preferred shareholders as to common shareholders in a corporate takeover). Mr. Grossman headed the six week trial on liability in Walsh v. Northrop Grumman, 94-CV-5105 (E.D.N.Y.) (a securities and ERISA class action arising from Northrop's takeover of Grumman), after which a substantial settlement was reached. The case yielded numerous reported opinions. See, e.g., 162 F.R.D. 440 (1995) (class certification motion granted); 871 F. Supp. 1567 (1994) (denial of motion to dismiss).

Courts have also acknowledged Mr. Grossman's superb experience in the evaluation of claims. For example, in connection with the over $2 billion obtained in settlements reached with Drexel Burnham & Co. and Michael Milken in the early 1990s, Senior Judge Milton Pollack of the Southern District of New York appointed Mr. Grossman to the Executive Committee of counsel charged with allocating the settlement among claimants, institutions and small shareholders. This task involved extensive analysis of the strengths and weaknesses of the claims on liability and damages issues, as well as the formulation of a complex, multi-tiered allocation formula that was fair to various constituencies.

Mr. Grossman is a nationally known authority on the subject of corporate governance, having served on former New York State Comptroller Carl McCall's Advisory Committee for the NYSE Task Force on corporate governance. He is a regular advisor to Congress on legislation to protect investors.  He is a former president of the National Association of Securities and Consumer Trial Attorneys. During his tenure, he represented the organization in meetings with the Chairman of the Securities and Exchange Commission and before members of Congress and of the Executive Branch in furnishing input and commentary on legislation which became the Private Securities Litigation Reform Act of 1995 ("PSLRA").

Moreover, Mr. Grossman is recognized for his commitment to ethical practices and the enhanced quality of legal representation in this country. He served for three years on the New York City Bar Association's Committee on Ethics, as well as on the Association's Judiciary Committee, which interviewed and opined on the quality of city and proposed judges for federal and state courts. He is also actively involved in civic affairs, having headed up a task force on behalf of the Association of the Bar of the City of New York, where he was praised for his analysis and recommendations for the future of the City University of New York, and is currently serving on the board of the Appleseed Foundation, a national public interest advocacy group. Additionally, he is on the Advisory Committee for the Abraham L. Pomerantz Lectures at Brooklyn Law School.

Mr. Grossman is a director of the Lincoln Center Institute for the Arts in Education.  Additionally, Mr. Grossman frequently speaks at top law schools and professional organizations. Recently, Mr. Grossman spoke at the Practising Law Institute's "Securities Litigations & Enforcement Institute 2009" and was a featured panelist in a Practicing Law Institute "Hot Topic Briefing" entitled "StoneRidge - Is There Scheme Liability or Not?" He was a panelist at an April 2008 Conference sponsored by the Institute for Law and Economic Policy, entitled "The Continuing Evolution of Securities Class Actions." Mr. Grossman also presented at the 2008 Meeting of the American Bar Association, in a discussion entitled "Insider's View of the Stoneridge Case: Investor Protection or Frivolous Litigation;" and he participated as a panelist on securities litigation developments at the 2008 annual meeting of the ABA Section of Litigation. He is the author of "Commentary: The Social Meaning of Shareholder Suits," 65 Brooklyn Law Rev. (1999), among other articles.