As Managing Partner, Jeremy A. Lieberman oversees all Pomerantz litigations, strategizing for and leading cases that break new ground while expanding and protecting global investor rights.
The Supreme Court’s 2010 decision in Morrison v. National Australia Bank Ltd. barred purchasers of securities on non-U.S. exchanges from pursuing claims in U.S. courts under the federal securities laws, presenting a daunting hurdle for institutional investors, who increasingly invest in securities both in the U.S. and abroad. In response, Jeremy and the Firm developed innovative legal theories to overcome the challenges posed by Morrison.
In litigation against pharmaceutical behemoth Perrigo Co. plc, Jeremy achieved a victory for investors in 2019, when the U.S. District Court for the District of New Jersey certified parallel classes of investors that purchased Perrigo stock on the New York Stock Exchange and the Tel Aviv Stock Exchange. This marked the very first time that a U.S. district court certified a class of investors on a non-U.S. exchange since Morrison. In April 2024 Pomerantz moved to settle the action for $97 million.
Jeremy represented 22 Israeli institutional investors who filed individual actions against Teva Pharmaceuticals Ltd. after opting out of a class action. Teva, one of the world’s largest manufacturers of generic drugs, raised the prices of those drugs 76 times in less than three years. The suit alleged that Teva failed to disclose to investors that it had increased prices in collusion with its competitors in the generic drug market. Pomerantz’s suit also made novel claims, unaddressed by either the class action or the other opt outs, relating to Teva’s role in the devastating opioid crisis in the U.S. These opioid claims were sustained by the court when Jeremy overcame the defendants’ motion to dismiss.
Jeremy convinced the Teva court to exercise supplemental jurisdiction over Israeli law claims and to conduct the first truly in-depth analysis of these kinds of claims under Israeli law. In late 2023 and early 2024, Jeremy achieved favorable, confidential settlements between Teva and each of the institutional investors.
Jeremy led the litigation of In re Petrobras Securities Litigation, in which Pomerantz achieved a historic $3 billion settlement for defrauded investors in 2018. The case arose from a multi-billion-dollar kickback and bribery scheme involving Brazil’s oil giant, Petróleo Brasileiro S.A. – Petrobras.
Among Jeremy’s accolades are a 2020 Distinguished Leader award from the New York Law Journal, the 2019 Benchmark Litigation Plaintiff Attorney of the Year award, a 2018 Law360 Titan of the Plaintiffs’ Bar award, and recognition by Lawdragon as a Leading Plaintiff Financial Attorney and Leading Attorney from 2019 to the present.
Updated Oct 2024