Berman Tabacco

Daniel E. Barenbaum

Partner

Daniel E. Barenbaum

Daniel Barenbaum works daily to seek financial justice for those who strive to save and invest for retirement or their well-being and who see the fruits of those labors disappear due to fraud or other bad behavior.  A partner in Berman Tabacco’s San Francisco office and part of the firm’s Securities Practice Group, Daniel has represented and recovered for some of the largest public pension funds in the United States.  A trusted advisor, he excels at partnering with clients to minimize burdens and maximize understanding and preparation.

Fighting for clients for nearly 20 years, the cases Daniel has litigated have recovered over a billion dollars for injured plaintiffs. Daniel was formerly a partner at a San Francisco law firm where he represented clients in securities and antitrust litigation, as well as in mass tort and employment class actions and in multidistrict litigation. With a business degree in finance in addition to his law degree, Daniel obtained his Series 7 and 66 licenses and worked for a financial services company, assisting clients with investment planning and risk mitigation.

Daniel was recently ranked as a Recommended Attorney in Securities Litigation by The Legal 500 (U.S. edition 2017-2018).  He has authored and lectured on issues pertinent to securities litigation.

Experience

  • Was an integral member of the litigation team in a case against the two major credit rating agencies, California Public Employees’ Retirement System v. Moody’s Corp., No. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.), filed on behalf of the nation’s largest state pension fund, CalPERS.  The case was landmark litigation that sought to hold the rating agencies financially responsible for alleged negligent misrepresentations in rating certain structured investment vehicles, resulting in losses of close to $1 billion. CalPERS settled with S&P in early 2015 and with Moody’s a year later in March 2016, approximately two months before trial was set to commence for a total recovery of $255 million.
  • Was the day-to-day partner on In re Fannie Mae 2008 Securities Litigation, No. 1:08 Civ. 07831 (S.D.N.Y.), which settled for $170 million, where the firm represented co-lead plaintiff for the common stock class Massachusetts Pension Reserves Investment Management Board. The case alleged that Fannie Mae and two individual defendants made material misrepresentations between November 8, 2006 and September 5, 2008 and failed to disclose (a) that an enormous volume of mortgages on its books were “subprime” and “Alt-A” as defined internally by the company and throughout the industry, and (b) that defendants had inadequate internal controls to manage the significant risks created by the company’s purchases of those types of loans.
  • Acted as key trial-team member in a three-month mass-tort trial against a major pharmaceutical company.
  • Has significant late-stage pretrial experience, taking several cases to the eve of trial, including the In re MetLife Demutualization Litigation in 2009.
  • Managed a large and resource-heavy mass-tort case, setting and helping implement strategy, coordinating with co-counsel around the world, and supervising more than two dozen attorneys and staff.

Publications, Presentations & Appearances

  • Co-author of The Currency of Capitalism With a Social Conscience, Financier Worldwide Magazine (June 2018)
  • Co-author of Snap Judgment—S&P Dow Jones and FTSE Russell Indices Ensure That Investors Retain Voting Rights, Financier Worldwide Magazine (October 2017)
  • Environmental, Social & Governance Risk and Your Fiduciary Future, presenter at National Conference on Public Employee Retirement Systems Public Safety Employee Pension & Benefits Conference (October 2013)
  • Portfolio Transparency and ESG Risk Factors, presenter at National Council on Teacher Retirement Annual Trustee Workshop (June 28, 2013)
  • Author of Delineating Covered Class Actions Under SLUSA, Securities Litigation Report (December-January 2005)
  • Contributing author, California Class Actions Practice and Procedures (Elizabeth J. Cabraser, Editor-in-Chief, 2003)
Daniel E. Barenbaum Partner
San Francisco
44 Montgomery Street
Suite 650
San Francisco, CA 94104

Daniel Barenbaum works daily to seek financial justice for those who strive to save and invest for retirement or their well-being and who see the fruits of those labors disappear due to fraud or other bad behavior.  A partner in Berman Tabacco’s San Francisco office and part of the firm’s Securities Practice Group, Daniel has represented and recovered for some of the largest public pension funds in the United States.  A trusted advisor, he excels at partnering with clients to minimize burdens and maximize understanding and preparation.

Fighting for clients for nearly 20 years, the cases Daniel has litigated have recovered over a billion dollars for injured plaintiffs. Daniel was formerly a partner at a San Francisco law firm where he represented clients in securities and antitrust litigation, as well as in mass tort and employment class actions and in multidistrict litigation. With a business degree in finance in addition to his law degree, Daniel obtained his Series 7 and 66 licenses and worked for a financial services company, assisting clients with investment planning and risk mitigation.

Daniel was recently ranked as a Recommended Attorney in Securities Litigation by The Legal 500 (U.S. edition 2017-2018).  He has authored and lectured on issues pertinent to securities litigation.

Education
  • Emory University (J.D., 2000)
  • Emory University (M.B.A., 2000)
  • Tufts University (B.A., English, 1994)
Experience
  • Was an integral member of the litigation team in a case against the two major credit rating agencies, California Public Employees’ Retirement System v. Moody’s Corp., No. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.), filed on behalf of the nation’s largest state pension fund, CalPERS.  The case was landmark litigation that sought to hold the rating agencies financially responsible for alleged negligent misrepresentations in rating certain structured investment vehicles, resulting in losses of close to $1 billion. CalPERS settled with S&P in early 2015 and with Moody’s a year later in March 2016, approximately two months before trial was set to commence for a total recovery of $255 million.
  • Was the day-to-day partner on In re Fannie Mae 2008 Securities Litigation, No. 1:08 Civ. 07831 (S.D.N.Y.), which settled for $170 million, where the firm represented co-lead plaintiff for the common stock class Massachusetts Pension Reserves Investment Management Board. The case alleged that Fannie Mae and two individual defendants made material misrepresentations between November 8, 2006 and September 5, 2008 and failed to disclose (a) that an enormous volume of mortgages on its books were “subprime” and “Alt-A” as defined internally by the company and throughout the industry, and (b) that defendants had inadequate internal controls to manage the significant risks created by the company’s purchases of those types of loans.
  • Acted as key trial-team member in a three-month mass-tort trial against a major pharmaceutical company.
  • Has significant late-stage pretrial experience, taking several cases to the eve of trial, including the In re MetLife Demutualization Litigation in 2009.
  • Managed a large and resource-heavy mass-tort case, setting and helping implement strategy, coordinating with co-counsel around the world, and supervising more than two dozen attorneys and staff.
Honors & Distinctions
  • Ranked as a Recommended Attorney in Securities Litigation by The Legal 500 (U.S. edition 2017 and 2018)
  • Earned Most Outstanding Academic Accomplishment business school award
Admissions
  • State Bar of California
  • U.S. District Court for the Northern District of California
  • U.S. District Court for the Central District of California
  • U.S. District Court for the Southern District of California
  • U.S. District Court for the Eastern District of California
  • Ninth Circuit, U.S. Court of Appeals
Affiliations
  • American Bar Association
  • Bar Association of San Francisco
  • Association of Business Trial Lawyers
  • Osher Marin Jewish Community Center
Publications, Presentations & Appearances
  • Co-author of The Currency of Capitalism With a Social Conscience, Financier Worldwide Magazine (June 2018)
  • Co-author of Snap Judgment—S&P Dow Jones and FTSE Russell Indices Ensure That Investors Retain Voting Rights, Financier Worldwide Magazine (October 2017)
  • Environmental, Social & Governance Risk and Your Fiduciary Future, presenter at National Conference on Public Employee Retirement Systems Public Safety Employee Pension & Benefits Conference (October 2013)
  • Portfolio Transparency and ESG Risk Factors, presenter at National Council on Teacher Retirement Annual Trustee Workshop (June 28, 2013)
  • Author of Delineating Covered Class Actions Under SLUSA, Securities Litigation Report (December-January 2005)
  • Contributing author, California Class Actions Practice and Procedures (Elizabeth J. Cabraser, Editor-in-Chief, 2003)