Michael J. Wernke, who joined Pomerantz as Of Counsel in 2014 and became Partner in 2015, specializes in securities fraud litigation. He was lead counsel in Thomas v. Magnachip Semiconductor Corp. et al, in which he recently achieved a $23.5 million partial settlement with certain defendants, pending court approval, securing the settlement despite an ongoing investigation by the Securities and Exchange Commission and shareholder derivative actions. He played an integral role in In re Lumber Liquidators, Inc. Sec. Litig., in which Pomerantz, as co-lead counsel, achieved a tentative settlement of $26 million in cash and 1,000,000 shares of Lumber Liquidators common stock for the Class.
Mr. Wernke, with Pomerantz Managing Partner Jeremy A. Lieberman, leads the Firm’s litigation in In re Libor Based Financial Instruments Antitrust Litig. Pomerantz is Interim Lead Counsel for the Lender Class in this closely-watched multi-district litigation, which concerns the manipulation of the critical LIBOR rate by the sixteen banks reporting their lending costs to the British Bankers Association. This action was filed against each of the Contributor Panel banks for the USD LIBOR panel, which includes Bank of America Corporation, Citigroup Inc., Credit Suisse Group AG, Bank of Tokyo-Mitsubishi UFJ Ltd., Barclays Bank plc, HSBC Holdings plc, and Deutsche Bank AG. The action seeks hundreds of billions of dollars in damages. Pomerantz has prevailed against defendants’ motions to dismiss the claims of our clients, Directors Financial Group and The Berkshire Bank.
During the nine years prior to coming to Pomerantz, Mr. Wernke was a litigator with Cahill Gordon & Reindel LLP, with his primary focus in the securities defense arena. He brings to Pomerantz a unique perspective, with his extensive, successful experience in defending large, multinational financial institutions in securities fraud and commercial litigations.
In 2014 and 2015, Mr. Wernke was voted by his peers, through Super Lawyers, as a “New York Metro Rising Star.”
In 2004, Mr. Wernke received his J.D. from Harvard Law School. He also holds a B.S. in Mathematics and a B.A. in Political Science from The Ohio State University, where he graduated summa cum laude.
Mr. Wernke is admitted to practice in the State of New York and the United States District Court for the Southern District of New York.