Max Berger, BLB&G’s founding partner, is one of the most accomplished and respected plaintiffs’ lawyers worldwide. Widely recognized as the “dean” of the U.S. plaintiff securities bar, he has litigated many of the most significant shareholder cases in history, increasing market transparency, holding wrongdoers accountable, and improving corporate business practices in groundbreaking ways. His crowning achievement is growing BLB&G from a partnership of four lawyers in 1983 into what the Financial Times described as “one of the most powerful securities class action law firms in the United States.”
Berger has negotiated nine of the largest securities fraud settlements in history, each in excess of a billion dollars: Cendant ($3.3 billion), Citigroup-WorldCom ($2.575 billion), Bank of America/Merrill Lynch ($2.4 billion), JPMorgan Chase-WorldCom ($2 billion), Allianz Structured Alpha Funds (over $2 billion), Nortel ($1.07 billion), Merck ($1.06 billion), McKesson ($1.05 billion), and Wells Fargo ($1 billion).
Berger’s cases have resulted in sweeping corporate governance overhauls that have served as models for public companies going forward. These include the creation of an independent task force to oversee and monitor diversity practices (Texaco discrimination litigation), establishing an industry-accepted definition of director independence, increasing a board’s power and responsibility to oversee internal controls and financial reporting (Columbia/HCA), and creating a Healthcare Law Regulatory Committee with dedicated funding to improve the standard for regulatory compliance oversight by a public company board of directors (Pfizer).
Lawdragon Honors
Most recently, Berger handled the prosecution of an unprecedented shareholder derivative litigation against 21st Century Fox arising from the systemic sexual and workplace harassment at the embattled network. After nearly 18 months of litigation, discovery, and negotiation, the parties unveiled a landmark settlement with two key components: 1) the first ever board-level watchdog of its kind—the “Fox News Workplace Professionalism and Inclusion Council” and 2) one of the largest financial recoveries—$90 million—ever obtained in a pure corporate board oversight dispute.
Berger’s work has garnered him extensive media attention, and he has been the subject of feature articles in a variety of major media publications. For example, The New York Times highlighted his remarkable track record in the October 2012 profile “Investors’ Billion-Dollar Fraud Fighter,” which also discussed his role in the Bank of America/Merrill Lynch Merger litigation. In 2011, Berger was twice profiled by The American Lawyer for his role in negotiating a $627 million recovery for investors in the securities class action against Wachovia and a $516 million recovery in the securities class action against Lehman Brothers.
Berger has a distinguished and unparalleled list of honors to his name. Most recently, he was honored with a “Lifetime Achievement” award by the New York Law Journal for making an impact on the legal community and the practice of law over an entire career. The following is only a selection of the awards and accolades Max has received throughout his career:
- The Anti-Defamation League’s Edward Brodsky Founders Award: In recognition of Berger’s extraordinary dedication and service to the mission of the ADL as it continues the fight against antisemitism and other forms of hatred, and for his unwavering commitment to championing civil rights and social justice.
- Lawdragon “Hall of Fame”: For his remarkable contributions to the legal professions. Berger is also on Lawdragon’s “Legends” list and is regularly included in the publication’s “500 Leading Lawyers in America” and “100 Securities Litigators You Need to Know” lists.
Berger is a regular lecturer and author on securities laws and their implications for public policy. He was chosen, along with several BLB&G partners, to author the first chapter—“Plaintiffs’ Perspective”—of Lexis/Nexis’s seminal industry guide Litigating Securities Class Actions. An esteemed voice on all sides of the legal and financial markets, Berger was called upon by the U.S. Securities and Exchange Commission and U.S. Treasury to provide guidance on regulatory changes being considered as the accounting profession was experiencing tectonic shifts shortly before the 2008 financial crisis.
Berger also serves the academic community in numerous capacities. A longtime member of the Board of Trustees of Baruch College, he served as the President of the Baruch College Fund from 2015-2019. In May 2006, he was presented with the Distinguished Alumnus Award for his contributions to Baruch College, and in 2019, he was awarded an honorary Doctor of Laws degree at Baruch’s commencement. The award recognized his decades-long dedication to the mission and vision of the College. In bestowing it, Baruch's president described Berger as “one of the most influential individuals in the history of Baruch College.” Berger established the Max Berger Pre-Law Program at Baruch College in 2007.
Berger is also a member of Columbia Law School’s Dean’s Council and Public Interest/Public Service Council, serves on the Advisory Board of Columbia Law School’s Center on Corporate Governance, and has taught “Profession of Law,” a legal ethics course at the school. In February 2011, Berger received Columbia Law School’s most prestigious honor, “The Medal for Excellence.” As a recipient of this award, Berger was profiled in the Fall 2011 issue of Columbia Law School Magazine. In 2021, Berger endowed the Max Berger '71 Public Interest/Public Service Fellows Program at Columbia Law School, which provides support for law students interested in pursuing careers in public service. Berger and his wife, Dale, previously endowed the Dale and Max Berger Public Interest Law Fellowship at Columbia Law School and, under Berger’s leadership, BLB&G also created the Bernstein Litowitz Berger & Grossmann Public Interest Law Fellowship at Columbia. Most recently, Berger endowed the Max Berger Pathways Fellowships at Columbia Law School. The fellowships cover the first-year salaries of new graduates of Columbia Law School who are employed in public interest or public service jobs.
Among numerous charitable and volunteer works, Berger is a significant and longtime contributor to Her Justice, a non-profit organization in New York City dedicated to providing pro bono legal representation to indigent women, principally survivors of intimate partner violence, in connection with the many legal problems they face. In recognition of their support of the organization, Berger and his wife, Dale, were awarded the “Above and Beyond Commitment to Justice Award” in 2021 for being steadfast advocates for women living in poverty in New York City. In addition to his personal support of Her Justice, Berger has ensured BLB&G’s longtime involvement with the organization. Berger is also an active supporter of City Year New York, a division of AmeriCorps, dedicated to encouraging young people to devote time to public service. In July 2005, he was named City Year New York’s “Idealist of the Year,” for his commitment to, service for, and work in the community.
A celebrated photographer, Berger has held two successful photography shows that raised hundreds of thousands of dollars for City Year and Her Justice. In 2013, Lawdragon produced a short documentary about Berger’s photography, which can be viewed below.
