At The Helm: Eric Belfi Takes the Wheel at Labaton Keller Sucharow

After three decades in practice, Eric Belfi is no stranger to high-stakes litigation or managing major cases – and now, he’s officially steering the ship. Recently named Chairman of Labaton Keller Sucharow, Belfi steps into the role with a rare blend of tenacity, institutional knowledge and the kind of wisdom that can only come with experience. His ascent reflects a steady hand and deep commitment to the firm’s core values – developing talent, maintaining culture and staying laser-focused on impactful litigation.

That includes headline-making matters like Weston v. DocuSign, where Labaton – under Belfi’s leadership – is serving as court-appointed lead counsel. The case alleges that DocuSign misled investors during a post-pandemic market correction, leading to a sharp drop in value and a tremendous amount of insider selling.

“The stock ended up losing about 50 percent of its market cap,” says Belfi. “They were making a representation to the market that this was the new normal and it was not going to drop off – and ultimately, it dropped off.”

It’s the kind of work that energizes Belfi – driven by facts, grounded in justice and shaped by a prosecutorial mindset he’s carried since his early days in public service.

After working as a commercial fisherman in high school and working his way through a JD, Belfi began his legal career in the New York Attorney General’s Office, where he led complex white-collar securities fraud investigations and financial misconduct matters. It was there that he honed his commitment to justice – an ethos that continues to inform his civil litigation work today. That prosecutorial foundation taught him not just how to build strong cases, but how to make tough judgment calls – skills he’s carried into his civil litigation practice, where discretion and selectivity are just as important as drive.

“Back then, we used to say we were on the side of God,” Belfi says. “Now, I like to think we’re still on the side of good.”

Belfi has long played a part in Labaton’s leadership, notably as head of the client development group and as a senior member of the executive committee. Now he is fully stepping into his new role, Belfi sees the challenges of Chairmanship as ones he’s well prepared to meet. A hands-on, forward-looking leader, he’s focused on strategic growth, meaningful mentorship and guiding Labaton through the rapidly changing legal landscape. With both hands firmly on the wheel, Belfi is charting a course for the firm’s next chapter.

Lawdragon: How does it feel stepping into this leadership role?

Eric Belfi: After 30 years in practice, becoming Chairman feels like a crowning achievement. I’ve worked hard – many people do – and not everyone ends up in this role, so it’s humbling. The support from the management team and the outreach I’ve received since the announcement has been tremendous and truly flattering. Like every new role, this one brings challenges and I’m excited to take them on. I believe it's important as a chair to be involved in the operations of the firm and keep a good sense of what's going on day-to-day.

LD: Will you tell us about some of the initiatives you have planned for the firm?

EB: We've been on a strategic growth plan for the last five years and I’ve been very instrumental in those discussions that have set our course. That growth will continue, but at a modest pace. Some firms grow rapidly, but our philosophy is to expand in a way that allows us to continue attracting and developing top legal talent. Growing too quickly can dilute quality, and we don’t want to do that. We’re committed to growing in an integral way.

Another major initiative for us is technology. I believe the next decade will bring more change to the legal field – driven by technology – than anything we've seen so far. It’s essential that we embrace and understand these changes. Of course, there are risks involved, and we need to be thoughtful and deliberate in how we adopt new tools. But for any firm looking to thrive in the future, leveraging technology is not optional – it’s imperative.

Our philosophy is to expand in a way that allows us to continue attracting and developing top legal talent. Growing too quickly can dilute quality, and we don’t want to do that. We’re committed to growing in an integral way.

LD: How is the firm embracing technology?

EB: We’ve always prioritized innovation and have been early adopters of technology that actually makes a difference for our clients. One of the things that sets us apart is that we don’t rely on third-party platforms, we’ve built our own proprietary systems to meet the unique demands of our clients.

For example, we developed PAIGE – our Portfolio Analytics & Intelligence Generation Engine – which helps our institutional investor clients monitor for potential securities fraud and recover losses. It’s a comprehensive portfolio monitoring system that delivers real-time, actionable insights and supports our clients’ compliance and fiduciary responsibilities.

We also built Lantern by Labaton, our client onboarding platform, which we use to inform, communicate with, and represent over 1.5 million arbitration clients. It’s robust, integrated, and allows us to manage complex matters at scale while still keeping the client experience front and center.

On the AI front, we’re using it where it makes sense. For litigation, we’ve incorporated AI tools into document review and discovery – things like predictive coding and pattern recognition – which help streamline the process. We’re also leveraging AI for business development and analytics: identifying which funds have exposure in a case, tracking industry movements, and surfacing trends. What used to take a team days or weeks, we can now do in a matter of hours.

As for generative AI, we see it as a support tool, not a replacement. We’re not using it to write briefs or make legal arguments – those still require human judgment – but we’re exploring how it can enhance efficiency across internal workflows. It’s evolving quickly, and we expect it to become a bigger part of the legal landscape. Like with chess, there may come a point when technology outpaces even the best practitioners in certain areas. We want to be ahead of that shift – not reacting to it.

LD: What can you tell us about the culture at Labaton?

EB: We have a very special culture that you don't see regularly at law firms – we really work on promoting people from within. We're very focused on developing talent. We aim to be seen as fair, but also direct – we communicate clearly when someone isn’t meeting expectations. At the same time, we’re committed to giving people the opportunity to succeed. That includes encouraging younger associates to take on meaningful work early, like depositions and oral arguments, often sooner than at other firms, because we believe strongly in developing talent.

Mentorship is a core part of our culture. Our program allows experienced attorneys to give younger attorneys real, practical guidance. We also have a women's initiative, which I believe is essential in supporting and promoting our female associates.

We have a very special culture that you don't see regularly at law firms – we really work on promoting people from within. We're very focused on developing talent.

LD: How would you describe your leadership style?

EB: I see my leadership role as collaborative – it's important to take in input from across the team. Having previously served in a number two role, I understand the value of listening and gathering as much information as possible before making decisions.

I believe it’s always ideal to use consensus when it’s feasible. But I also recognize that there are times when a clear decision needs to be made, and as Chairman, that responsibility ultimately falls to me. So while I aim to lead inclusively, I’m prepared to make the final call when necessary.

LD: What can you tell us about your current caseload?

EB: Right now, I’m managing a full and exciting caseload while also navigating the transition into my new role – so it’s a balancing act, but a rewarding one. I’m heavily involved in the Boeing securities class action, which is one of the most significant cases in the country right now. The case centers on Boeing’s misrepresentations about the safety and development of the 737 MAX aircraft. It’s a complex matter involving confidential whistleblower accounts, extensive document review, and critical depositions of top executives – we’re deep in discovery now, and it’s a case that really underscores the intersection of corporate accountability and investor protection. 

LD: Now take us all the way back – why did you first decide to become a lawyer?

EB: My dad was a judge, so I had a lot of exposure to legal practice. He was a criminal court judge, and when I was younger, I always fashioned myself to be a criminal prosecutor. That's where I started, and I loved it. Justice is something that I’ve always had a passion for. I first started out in the Attorney General's Office and the ability to bring justice was really important to me. And what we do today in a lot of ways is similar. We're doing it in a civil context as opposed to criminal, but they used to say in the AG's office, back then, we used to say we were on the side of God. Now, I like to think we’re still on the side of good.

LD: How would you describe your evolution as a leader?

EB: I've always been a natural leader at everything that I've done. Leadership has been something that has always been a part of whatever I've been in. A lot of my leadership style for a lot of my career has always just been working hard and pushing forward and being the leader by being the first person going forward. And so pushing hard on whether it's litigation, developing clients, whatever it is, I've always had that aggressive, want-to-be-successful drive.

In 30 years, I've developed a lot of institutional knowledge. Instead of just running into the room, you learn how to walk into the room in a more effective way. I’ve always wanted to steer the ship. Now I have the wisdom to understand not just how to steer it, but to know which direction it should go in.

LD: Tell me a bit about how your prosecutorial background plays into the work you’re doing now.

EB: I served for about five and a half years as a prosecutor. We have two other people on the leadership team, Carol Villegas and Mike Canty that also are prosecutors, and I think there is something about that mentality of being a former prosecutor that that really lends itself to these types of cases.

The word we use with our clients always is that we prosecute these cases – we are seeking justice. We are trying to right some wrongs. We're bringing cases for fraud. It's also calling balls and strikes in the sense of which cases we take on. We don’t just file as many as possible. We pick meritorious cases. There are about 200 cases filed every year, but we may only be interested in about 30 or 40 of those cases, so 15 to 20 percent. A lot of that judiciousness comes from our prosecutorial background. We're going to prosecute the cases that we think are strongest, that are meritorious and that matter ultimately to our clients.

Intelligence is essential – but it’s not enough. I’ve seen plenty of smart people struggle without that extra drive.

LD: What does the firm look for when it comes to recruiting?

EB: Intelligence is essential – but it’s not enough. I’ve seen plenty of smart people struggle without that extra drive. That motivation can come from all kinds of places. Some people just have it, and others are fueled by how they grew up – maybe they didn’t have the same advantages, and that gives them something to prove. Whatever the source, that kind of inner fire really matters. We try to find people who have it and give them the tools to grow into strong lawyers. We invest a lot in our talent, and I think our low turnover speaks to that commitment.

Malcolm Gladwell did a podcast about what makes lawyers successful, and one of the factors they looked at was whether someone had a blue-collar job in high school. The idea was that it gives you grit – that edge where you want to show you can go toe-to-toe with the kid from Harvard. That you’re just as smart, just as capable, and maybe even more driven. That kind of mindset really stands out.

LD: Interesting! Did you have a blue-collar job in high school?

EB: Yes. I was a commercial fisherman. I also built tennis courts, did construction, and worked on fishing boats, so I definitely got my hands dirty. I grew up on Long Island and did all that work out on the East End. It was a great experience, and I met a lot of great and interesting people. Those jobs were physically demanding and taught me a lot about hard work. They also gave me a real appreciation for the opportunities I had later in life, like going to law school and building a legal career.

LD: What do you do for fun outside of the office?

EB:  For me, the biggest escape is taking out my little Hobie Cat. If I can get out sailing, that’s one of my happy places – it really lets me disconnect. That, and walking. I love to walk, whether I’m listening to a podcast or just thinking. I used to run, but as I’ve gotten older, I walk more. I need to get in at least an hour or two every day. It’s the time when I can really think things through. No screens, no pings – just a break from all the noise.

LD: Do you ever go fishing anymore?

EB: I do! It’s something my youngest son and I really enjoy together. We’ll take our boat out when we can, and sometimes we’re lucky enough to join neighbors for offshore trips. There’s nothing like being out on the ocean, especially when you’re doing something your kid loves – it’s a great way to spend time together.