Joel W. Sternman concentrates his practice in complex commercial litigation with an emphasis on class actions arising under the federal securities laws and related state statutory and common law. He has served as defense counsel to public companies, members of corporate management and underwriters in numerous litigations in federal and state courts throughout the United States.
Joel is best known for his representation of petitioners in Basic, Inc. v. Levinson, one of the most frequently cited cases in the securities law field (485 U.S. 224) in which he argued significant legal issues before the US Supreme Court. Following a decision by the Court, the case was settled.
Joel has litigated cases arising under numerous federal statutes including the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), the Employee Retirement Income Security Act (ERISA) and the Racketeer Influenced and Corrupt Organizations Act (RICO) and has represented parties in Securities and Exchange Commission (SEC) investigations and in litigations incident to bankruptcy proceedings. As counsel to corporate committees, he has conducted internal investigations to evaluate possible violations of federal and state laws.
Joel has represented numerous major corporations including Sony, Phillips-Van Heusen, Dana and ABB.
Joel has been a member of the faculty for programs on corporate and securities litigation presented by the Practising Law Institute and ALI-ABA and has spoken in Japan about the exposure of directors of foreign corporations to litigation in the United States. He is the author of numerous articles, including "Exposure of Japanese Directors to Litigation in Japan and the U.S.," 26 Jour. of the Japanese Institute of International Business Law 675 (in Japanese).