Salvatore Graziano is a BLB&G partner and member of the firm’s Executive Committee. Widely recognized as one of the top securities litigators in the country, he has served as lead trial counsel in several historic securities fraud class actions, recovering billions of dollars on behalf of institutional investors and hedge fund clients. He practices out of the firm’s New York office.
Over the course of his distinguished career, Graziano has successfully litigated many high-profile cases, including:
- In re Merck & Co., Inc. Securities Litigation (Vioxx-Related): Securing a landmark $1.06 billion recovery in this litigation concerning misrepresentations about the safety of Merck’s drug Vioxx. Graziano led the BLB&G team through 10 years of litigation, successfully obtaining a groundbreaking, investor-friendly ruling from the U.S. Supreme Court on the statute of limitations for securities fraud claims.
- In re Schering-Plough Corporation/ENHANCE Securities Litigation: Leading the BLB&G team that prosecuted this case, which settled on the eve of trial for a combined $688 million—the second largest securities class action recovery against a pharmaceutical company in history and among the largest securities class action settlements of any kind.
- Gary Hefler et al. v. Wells Fargo & Company et al.: Leading the BLB&G team that prosecuted this securities class action against Wells Fargo arising from the highly publicized scandal concerning Wells Fargo’s creation of millions of fake or unauthorized accounts. Salvatore successfully recovered $480 million for investors—the fifth largest securities class action recovery ever in the Ninth Circuit.
- In re Kraft Heinz Securities Litigation: Prosecuting securities class action claims arising from Kraft Heinz’s $15.4 billion goodwill write-down in 2019—one of the largest goodwill impairment charges taken by any company since the 2008 financial crisis. Salvatore and the BLB&G team overcame defendants’ motions to dismiss and recovered $450 million for impacted investors.
- New York State Teachers’ Retirement System v. General Motors Co.: Resolving this securities class action against General Motors for $300 million—the second largest recovery of its kind in the Sixth Circuit. This case arose from a series of misrepresentations concerning the quality, safety, and reliability of the company’s cars.
Lawdragon Honors
In recognition of his high level of efficacy and countless accomplishments in litigation and trial work, as well as his ethical reputation, Graziano was named a Fellow of the Litigation Counsel of America (“LCA”). This close-knit, peer-selected group embodies the best of the best in trial law, with most members bringing 12 or more years of experience to the table. LCA membership is limited to 3,500 fellows, representing less than one-half of one percent of American lawyers.
A highly esteemed voice on investor rights, regulatory and market issues, in 2008, Graziano was called upon by the U.S. Securities and Exchange Commission’s Advisory Committee on Improvements to Financial Reporting to give testimony as to the state of the industry and potential impacts of proposed regulatory changes being considered. He is the author and co-author of numerous articles on developments in the securities laws, and was chosen, along with several of his BLB&G partners, to author the first chapter, “Plaintiffs’ Perspective,” of Lexis/Nexis’s seminal industry guide Litigating Securities Class Actions. He regularly speaks on securities fraud litigation and shareholder rights and has repeatedly guest lectured at Columbia Law School on these topics.
Graziano is a Senior Vice President of the Institute for Law and Economic Policy. He previously served as President of the National Association of Shareholder & Consumer Attorneys and has served as a member of the Financial Reporting Committee and the Securities Regulation Committee of the Association of the Bar of the City of New York.
Prior to entering private practice, Graziano served as an Assistant District Attorney in the Manhattan District Attorney’s Office.
