Marc I. Gross served as the Firm’s Managing Partner from 2009 to July 2016. He has been with Pomerantz for over four decades, focusing on securities fraud class actions and derivative actions, while also litigating antitrust and consumer cases. He is also the Vice-President of the Institute of Law and Economic Policy (“ILEP”).
Mr. Gross’ numerous notable achievements include: In re BP plc Sec. Litig. (individual and institutional investors have a right to sue under common law for purchases abroad); In re Comverse 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. He has been honored by Super Lawyers® as a “Top-Rated Securities Litigation Attorney” eight times, most recently in 2017.
Mr. Gross leads the Firm’s ground-breaking litigation against BP. In the wake of Morrison, the firm developed an innovative legal strategy using common law as a viable path to recovery for BP common shareholders – in the U.S. federal court system. In a landmark 97-page decision publicly issued on October 10, 2013, the denied defendants’ motion to dismiss individual claims brought by U.S. and foreign pension funds that had purchased BP ordinary shares and ADS on foreign exchanges, allowing the case to proceed under English common law.
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 the notorious CEO 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.”
Mr. Gross has been frequently invited to speak at legal forums in the United States and abroad on shareholder related issues. He has presented at the Loyola University Chicago School of Law’s Institute for Investor Protection Conference the National Conference on Public Employee Retirement Systems’ (“NCPERS”) Legislative Conferences, PLI conferences on Current Trends in Securities Law, and a panel entitled “Enhancing Consistency and Predictability in Applying Fraud-on-the-Market Theory” sponsored by the Duke Law School Center for Judicial Studies.
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. He has addressed the Tel Aviv Institutional Investors Forum, the National Association of Pension Funds Conference in Edinburgh, and law school students at Bar Ilan University in Tel Aviv.
Mr. Gross authored “Class Certification in a Post-Halliburton II World,” published in Law360 on July 21, 2014. He 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 graduated from New York University Law School in 1976, and received his undergraduate degree from Columbia University in 1973. Besides being a Board member of ILEP, he is also on the Board of T’ruah, The Rabbinic Call for Human Rights.
Mr. Gross is admitted to practice in New York, the United States District Courts for the Southern and Eastern Districts of New York, the United States Courts of Appeals for the First, Second, Third and Eighth Circuits, and the United States Supreme Court.