Mr. Galdston has successfully represented individuals and entities in complex direct, collective and class action matters for more than twenty years. He has served as lead counsel in some of the most important cases in recent history, including representing defrauded investors in residential mortgage-backed securities and Wall Street banks following the 2008 financial crises.
Mr. Galdston has been recognized as one of the nation’s leading litigators in complex securities, antitrust and consumer class actions. He has presented arguments in federal district and appellate courts and state courts across the country. Most recently, he was named a “Super Lawyer” for his outstanding achievements and record results.
Throughout his career, Mr. Galdston has represented prominent public pension funds, municipalities, labor funds, asset managers and individual clients. He has served as a lead counsel in numerous historic cases, recovered over $2 billion, and secured extensive corporate reforms for injured investors.
Formerly a partner at Bernstein Litowitz Berger & Grossmann LLP and Berger Montague PC, where he was co-chair of the Securities Department, Mr. Galdston recently secured a landmark pro- investor ruling from the Ninth Circuit in In re Quality Systems, Inc. Securities Litigation limiting PSLRA safe harbor protections for mixed statements involving forward-looking projections and current factual assertions. He has served as lead or co-lead counsel in numerous historic securities fraud class actions, including:
- In re McKesson HBOC Securities Litigation, the largest securities fraud class action recovery (over $1 billion) in the Ninth Circuit.
- In re Lehman Brothers Holdings, Inc., which recovered more than $735 million for shareholders of the defunct brokerage firm.
- In re Citigroup Bond Litigation, which recovered $730 million for Citigroup bondholders;
- In re Wachovia Corp. Securities Litigation, a $627 million recovery.
- In re Washington Mutual Securities Litigation, the largest securities class action recovery in the Western District of Washington.
- In re Maxim Integrated Products, Inc. Securities Litigation, the largest stock option backdating recovery in the Ninth Circuit.
- In re New Century, which recovered $125 million for investors.
Mr. Galdston also has been at the forefront in pursuing novel legal claims on behalf of institutional investors 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, which asserted claims under the Investment Advisers Act of 1940 and resulted in a $65 million recovery.
Mr. Galdston frequently speaks and publishes on topics relating to securities regulation, class actions, corporate governance, investor advocacy and consumer protection. Most recently, he was a guest speaker at the American Bar Association winter conference and published an article titled “Shareholder Litigation for Waste of Corporate Assets in Internal FCPA Investigations” in The Review of Securities & Commodities Regulation.