Stephanie M. Beige
Stephanie M. Beige has devoted her entire career to representing institutional and individual investors in shareholder class actions, derivative litigation, antitrust litigation, and individual litigation. She has been named a Super Lawyer by Super Lawyers Magazine for her work in securities litigation and has been selected to the New York Metro “Super Lawyers Top Women List” in 2016-2019. Ms. Beige has also been recommended by The Legal 500 (2013, 2015-2016, and 2019).
Ms. Beige has been involved in the successful prosecution of numerous class actions on behalf of aggrieved investors. Notably, she was a member of the team representing the State of New Jersey, Department of Treasury, Division of Investment, as co-lead plaintiff in In re Marsh & McLennan Cos., Inc. Securities Litigation (S.D.N.Y.) where a $400 million recovery was obtained for investors. The litigation was brought against the world’s largest insurance broker, Marsh & McLennan Cos., Inc., in connection with the company’s improper practice of steering its clients to insurance companies that agreed to pay it billions of dollars in contingent commissions. The $400 million settlement was reached after five years of hard-fought litigation which included over 100 depositions and over 36 million pages of document discovery.
Ms. Beige also represented the Mississippi Public Employees’ Retirement System in In re Cigna Corp. Securities Litigation (E.D. Pa.), a securities class action which settled on the eve of trial for $93 million dollars. Other successes include: In re TASER International Securities Litigation (D. Ariz.) ($20 million recovery); Rush v. Footstar, Inc. (S.D.N.Y.) ($19.3 million recovery); and In re SeeBeyond Technologies Securities Litigation (C.D. Cal.) ($13.1 million recovery).
Ms. Beige also litigated an individual action on behalf of the New Mexico Public Employees Retirement Association (“PERA”) against Wells Fargo Bank and affiliates arising from defendants’ mismanagement of PERA’s securities lending program. Ms. Beige was instrumental in the negotiation of a $50 million recovery for PERA – obtained on the eve of trial – representing over 65% of PERA’s damages. Ms. Beige litigated a similar action against Wells Fargo Bank on behalf of the New Mexico Educational Retirement Board (“ERB”). After two years of litigation, a $5 million settlement was obtained for ERB, representing over 50% of its damages.
Ms. Beige is currently working on several securities fraud class actions against numerous issuers for allegedly misleading investors, including In re Tremont Securities Law, State Law and Insurance Litigation, (S.D.N.Y.) ($100 million settlement), in which the firm represents investors who lost millions of dollars in hedge funds that invested with Bernard L. Madoff. She also represents the Houston Municipal Employees Pension System in Bitar v. REV Group, Inc., where investors allege, inter alia, that defendants knowingly issued unachievable financial guidance. In addition, Ms. Beige is a member of the team representing the Oklahoma Police Pension and Retirement System in Avila v. LifeLock Inc., where investors allege that executives made material misrepresentations to investors concerning LifeLock’s identity protection business and the status of a Federal Trade Commission investigation.
Ms. Beige is also active in the firm’s complex litigation practice where she represented the creditors’ committee in the Altegrity, Inc. and USIS Investigations, Inc. (“USIS”) bankruptcy proceedings in connection with claims against a USIS director and its former officers arising from their alleged failures to adequately protect the confidential information of tens of thousands of government employees from a cyberattack in 2013. A confidential multi-million dollar global settlement resolved both actions.
Ms. Beige received her bachelor’s degree in 1996 from Dowling College, graduating magna cum laude, and received her J.D. in 2000 from Touro College Jacob D. Fuchsberg Law Center, graduating summa cum laude, where she was a member of the Touro Law Review.
Ms. Beige is admitted to the Bar of the State of New York and admitted to practice before the United States Court of Appeals for the Second Circuit and the United States District Courts for the Southern District of New York, the District of Colorado, and the Eastern District of Wisconsin.