Jerry Silk is a member of BLB&G’s Executive Committee and co-leader of the firm’s case development and client advisory group, which performs portfolio monitoring and case evaluation services for the firm’s more than 350 institutional investor clients. Recognized as one of the country’s leading advisors to institutional investors worldwide, Silk has nearly 30 years of experience advising and representing institutional investors on matters involving federal and state securities laws, accountants’ liability, corporate officers’ and directors’ fiduciary duties, and the fairness of corporate transactions to shareholders. He also advises creditors on their right to pursue claims against officers and directors, as well as professionals, both inside and outside of bankruptcy. Silk practices out of the firm’s New York office.
Silk has led BLB&G’s representation of some of the most important securities actions of all time, recovering billions of dollars for investors damaged by corporate fraud and misconduct. Highlights of Silk’s litigation experience include:
- In re Cendant Corporation Securities Litigation: Playing a key role in the prosecution of the securities fraud class action against Cendant, which was resolved for $3.3 billion—the third largest U.S. securities class action recovery of all time.
- In re Allianz Global Investors U.S. Litigation: Playing a key role on the BLB&G team that recovered over $2 billion for 35 institutions that invested in the Allianz Structured Alpha Funds.
- New York State Teachers' Retirement System v. General Motors Company: Litigating the securities case against General Motors arising from misrepresentations concerning the safety and reliability of the company’s cars, recovering $300 million.
Lawdragon Honors
In addition, Silk is actively involved in the firm’s prosecution of highly successful M&A litigation. He was a co-leader of the BLB&G team that prosecuted the shareholder class action arising from the proposed acquisition of Caremark Rx by CVS—which led to an increase of approximately $3.5 billion in the consideration offered to shareholders. Silk also successfully resolved an innovative case on behalf of sellers of Dole Food securities, where plaintiffs alleged that Dole’s CEO issued misrepresentations to drive the price of the company down in order to take the company private on the cheap. BLB&G resolved the Dole case for $74 million.
In the wake of the 2008 financial crisis, Silk advised the firm’s institutional investor clients on their rights with respect to claims involving transactions in residential mortgage-backed securities (“RMBS”) and collateralized debt obligations. His work representing Cambridge Place Investment Management on claims under Massachusetts state law against numerous investment banks arising from the purchase of billions of dollars of RMBS was featured in the 2010 New York Times article “Mortgage Investors Turn to State Courts for Relief.”
Lawdragon magazine, which has named Silk one of the “100 Securities Litigators You Need to Know,” one of the “500 Leading Plaintiff Financial Lawyers,” one of the “500 Leading Lawyers in America,” and a “Lawdragon Legend,” profiled Silk as part of its “Lawyer Limelight” special series, discussing subprime litigation and his passion for plaintiffs’ work.
Silk lectures to institutional investors at conferences throughout the country and is a regular speaker at Practising Law Institute’s Annual Institute on Securities Regulation. He has written several articles on developments in securities and corporate law, including in the New York Times, Financial Times, Bloomberg, The National Law Journal, and the New York Law Journal. He has also served as a commentator for the business media on television, appearing on NBC’s Today, and CNBC’s Power Lunch, Morning Call, and Squawkbox, among other programs.
Silk received his J.D., cum laude, from Brooklyn Law School, and his B.S. in Economics from the Wharton School of the University of Pennsylvania. Jerry previously served as a law clerk to the Honorable Steven M. Gold in the U.S. District Court for the Eastern District of New York.
