Marc I. Gross is a Partner of Pomerantz. For over three decades, Mr. Gross has focused on securities fraud class actions and derivative actions, while also litigating antitrust and consumer cases. Mr. Gross heads the Firm’s Institutional Investor Practice and New Case Groups and is Lead Counsel in many of the Firm’s major pending cases. Mr. Gross’ numerous notable achievements include: In re Comverse Technology, Inc. Sec. Litig. ($225 million settlement, including a $60 million contribution by the former CEO); In re Charter Communications Inc. Sec. Litig. ($146.25 million settlement); In re Salomon Analyst AT&T Litig. ($74.75 million settlement); In re Elan Corp. Sec. Litig. ($75 million settlement); and Snyder v. Nationwide Insurance Co. (derivative settlement valued at $100 million). His role in high-profile cases has garnered international media attention. Mr. Gross has been interviewed on the CBS Evening News, the BBC, and numerous Israeli media sources. In 2012 and 2013, Benchmark Litigation named Mr. Gross a “Local Litigation Star” in New York. He has been selected by his peers as a Super Lawyer five times, most recently in 2013.
Mr. Gross has extensive trial experience, including In re Zila Inc. Securities Litig. (D.C. Ariz. (PHX)) and In re Zenith Labs Securities Litig. (D.C. N.J.) Courts have consistently praised his lawyering. In approving the $225 million settlement in Comverse, Judge Garaufis stated: “Throughout this litigation, [the Court] has been impressed by Lead Counsel’s acumen and diligence. The briefing has been thorough, clear, and convincing.”
At the January 30, 2012 hearing wherein the Court approved the settlement of In re Chesapeake Shareholder Derivative Litig., (whereby plaintiffs clawed back $13 million in excess compensation paid to chief executive officer Aubrey McClendon) Judge Owens of the District Court of Oklahoma stated, “Counsel, it’s a pleasure, and I mean this and rarely say it. I think I’ve said it two times in 25 years. It is an extreme pleasure to deal with counsel of such caliber.”
Approving the $100 million settlement in Nationwide, where Mr. Gross was the lead Pomerantz lawyer, the court stated: “I think you all did a very, very good job for all the people. You made attorneys look good.” Mr. Gross was also the attorney-in-charge of Texas Int’l Co. Sec. Litig. (W.D. Okla.), where, in granting class certification, the court stated: “The performance of plaintiffs’ counsel thus far leaves the Court with no doubt that plaintiffs’ claims will be vigorously and satisfactorily prosecuted throughout the course of this litigation.” In the course of approving the subsequent settlement of the case, the Court added:
I would like to compliment all the parties and attorneys in this case. . . . You have all worked together better than I think any case I’ve had that involved these extensive issues and parties and potential problems. And I for one appreciate it. And I think it shows certainly a great deal of professionalism on all your part.
Mr. Gross has been a member of the New York City Bar Association’s Federal Courts Committee, an early neutral evaluator for the Eastern District of New York, and a mediator for the Commercial Division of the Supreme Court of the State of New York. He is currently a Vice President of the Institute of Law and Economic Policy (“ILEP”), a not-for-profit organization devoted to promoting academic research and dialogue in securities law issues and litigation, and for many years was an officer of the National Association of Securities and Consumer Trial Attorneys.
Mr. Gross speaks frequently at legal forums on shareholder-related issues. In 2013, he spoke at the National Conference on Public Employee Retirement Systems’ Legislative Conference on “Morrison and Recoveries of Damages Arising From Fraudulent Foreign Investments,” and at Loyola University Chicago School of Law’s Institute for Investor Protection Conference on “The Effective and Ethical Use of Confidential Witnesses.” In October 2012, he moderated a panel at the Second Annual Institute for Investor Protection Conference at the Loyola University Chicago School of Law, on “Behavioral Economics Applied: Expert Witnesses, Event Studies, Loss Causation, and Damages Calculation.” Among the panelists was Daniel R. Fischel, whose seminal article describing the application of financial economics to securities fraud litigation was a basis for the Supreme Court’s decision in Basic v. Levinson adopting “fraud on the market.” In 2011 he organized a conference on Proxy Access California; and chaired a panel on Pleading and other Pre-Trial requirements impacting class action suits at the annual ILEP conference; and spoke on Morrison and on Opportunities under Dodd-Frank for Say On Pay and Say on Contributions at the National Summit on the Future of Fiduciary Responsibility, organized by the American Conference Institute with responsible-investor.com.
Mr. Gross is valued by foreign investors for his expertise in the relevance to them of securities class actions in the United States, and how they might benefit from participation. In 2012, Mr. Gross spoke at the Tel Aviv Institutional Investors Forum on “Israel’s Pyramids/Corporate Governance Lessons from the U.S.” and in 2011, participated in a panel at the National Association of Pension Funds Conference in Edinburgh regarding the impact of U.S. class actions on U.K. investors.
Mr. Gross is the author of the article “Loser-Pays – or Whose ‘Fault’ Is It Anyway: A Response to Hensler-Rowe’s “Beyond ‘It Just Ain’t Worth It’,” which appeared in 64 Law & Contemporary Problems (Duke Law School) (2001).
Mr. Gross has been named a Super Lawyer for 2016.