Stanley M. Grossman is Senior Counsel to Pomerantz Haudek Grossman & Gross LLP. He has been with the Firm since February 1969, and was a partner from January 1, 1975 to December 31, 2008.
He is widely considered a dean of the plaintiffs’ securities bar and was featured in the New York Law Journal "Top Litigators in Securities Field -- A Who's Who of City's Leading Courtroom Combatants" and has repeatedly been named by the New York Times as one of the New York Super Lawyers and by Law Dragon Magazine as a Leading Plaintiff Lawyer in America.
Mr. Grossman has argued groundbreaking cases throughout his career. He appeared before the United States Supreme Court to argue that scheme liability is actionable under Section 10(b) of the Securities Exchange Act of 1934. See StoneRidge Investment Partners v. Scientific-Atlanta, 552 U.S. 148 (2008). In EBCI v. Goldman Sachs & Co., 5 N.Y.3d 11 (2005), he obtained a decision from the New York State Court of Appeals, holding for the first time that underwriters may have a fiduciary duty to issuing companies in an IPO.
In addition to his appellate work, Mr. Grossman has tried important securities cases upholding shareholder rights. Gartenberg v. Merrill Lynch Asset Management was the first case ever to be tried involving Section 36(b) of the Investment Company Act of 1940: In Rauch v. Bilzerian (Super. Ct., NJ), he pursued claims versus directors for a breach of duty to preferred shareholders. In Grumman, etc., he headed a six week trial involving ERISA and securities law claims and in Lewis v. Rockwell, he tried one of the few derivative stockholder cases to go to trial.
He has lectured to the profession on various occasions under the auspices of the Southern Federal Securities Institute, Columbia University School of Law, Duke University Law School, University of Arizona Law School, Brooklyn Law School, Willamette School of Law, ALI-ABA, the New York State Bar Association, and the Association of the Bar of the City of New York.
Mr. Grossman is a nationally respected authority on the subject of corporate governance. He served on former New York State Comptroller Carl McCall’s Advisory Committee for the NYSE Task Force on corporate governance. He is a regular advisor to Congress on legislation to protect investors and is a former president of NASCAT. During his tenure at NASCAT, he represented the organization in meeting with the Chairman of the Securities and Exchange Commission and before members of Congress and of the Executive Branch concerning legislation that became the PSLRA.
Mr. Grossman served for three years on the New York City Bar Association’s Committee on Ethics, as well as on the Association’s Judiciary Committee. He is also actively involved in civic affairs. He headed a task force on behalf of the Association, which after a wide-ranging investigation, made recommendations for the future of the City University of New York. He currently serves on the New York Advisory Council of the Appleseed Foundation, a national public advocate group.