Stephanie M. Beige
Stephanie M. Beige received her bachelor’s degree in 1996 from Dowling College, graduating 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 has devoted her entire career to representing institutional and individual investors in shareholder class actions, derivative litigation, and individual litigation. Ms. Beige has devoted her entire career to representing institutional and individual investors in shareholder class actions, derivative litigation, and individual litigation. She had been recommended by The Legal 500 for her work in the securities litigation field (2013, 2015 and 2016) and has been named a Super Lawyer by Super Lawyers Magazine in 2016 and 2017.
During the past fifteen years, 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).
Most recently, Ms. Beige 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 also litigated an action on behalf of the New Mexico Educational Retirement Board (“ERB”) against Wells Fargo Bank and affiliates arising from defendants’ mismanagement of ERB’s securities lending program. 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, No. 08-CV-11117 (S.D.N.Y.) (a partial settlement in excess of $100 million approved), in which the Firm represents investors who lost millions of dollars in hedge funds that invested with Bernard L. Madoff.
Ms. Beige also represents shareholders in merger and acquisition litigation, representing shareholders in Kwait v. Berman, No. 5306-CC (Del. Ch.), and obtaining significant amendments to a voting agreement and additional disclosures in connection with the merger of RiskMetrics Group, Inc. and MSCI Inc.
She 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.