Benjamin Galdston is a Shareholder in the Antitrust, Commercial Litigation, Commodities & Financial Instruments and Securities & Investor Protection practice groups. He manages the Firm’s San Diego office and has specialized in complex securities fraud and other class actions, corporate governance matters, opt-out litigation and consumer cases for more than 18 years.
Among the nation’s top litigators, Mr. Galdston has represented prominent public pension funds, municipalities, Taft Hartley funds, and asset managers and secured billions of dollars and extensive corporate reforms for injured investors. He has presented arguments in federal district and appellate courts and state courts across the country. Formerly a partner with another national plaintiffs’ firm, 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 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, a $730 million recovery; 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; and In re New Century, a $125 million recovery. Mr. Galdston has been at the forefront in successfully 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.
- President (frmr), San Diego Barristers Club