Mark A. Kornfeld

Partner

New York
T +1 212.589.4652  |  F +1 212.589.4201

Mark Kornfeld is a seasoned commercial litigator with more than 20 years of success in securities litigation, regulatory action and complex commercial litigation both domestically and internationally. Mark draws from his years of high-stakes litigation experience to inform his advice and counsel for clients. He always approaches his clients' current matters as a trusted adviser who appreciates and understands his clients' businesses. Mark quickly analyzes the different variables in complex disputes and how they will impact his clients, providing multilayered and practical, strategic advice to those clients across industries.

Mark has been integrally involved as a BakerHostetler lead attorney for the firm's court-appointed representation of Securities Investor Protection Act (SIPA) Trustee Irving H. Picard for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS) in efforts to recover assets for the Fund of Customer Property. Mark has worked extensively on litigating complex legal issues and assisting the SIPA Trustee in unraveling the maze of interconnected parties involved in Madoff's decades-long Ponzi scheme, including major international feeder funds and financial institutions. In addition, Mark is an important member of the firm's Hedge Fund team and the Securities Litigation and Regulatory Enforcement practice, aimed at advising, managing and counseling hedge funds, the financial services industry and public companies prior to and upon the commencement of high-stakes litigation. Mark is routinely sought out by members of the media for comments on high-profile litigation and regulatory enforcement matters arising from Ponzi schemes, insider trading and other economic frauds.

Select Experience

  • Plays a key role in the worldwide investigation and asset recovery efforts being conducted by the SIPA Trustee for the benefit of BLMIS  customers with allowed claims. He is a lead attorney in charge of multibillion-dollar lawsuits against feeder funds. Also oversees a number of additional bank and other transfer litigation, as well as cases involving the use of derivatives and other exotic leverage products during Madoff's decades-long Ponzi scheme. In addition, plays a role in the strategic planning for all litigation, coordinating discovery, expert witnesses and settlement negotiations. Has helped achieve several major settlements secured by the SIPA Trustee.
  • Led a Financial Industry Regulatory Authority (FINRA)-regulated broker-dealer client and its parent (and executives) to a successful pre-complaint settlement after receipt of Wells Notices of charges by FINRA arising out of a multimillion-dollar minimum-maximum offering and the breaking of escrow related to it. The matter was resolved with no charges against the individuals.
  • Led a cross-office, cross-discipline team in successfully defending a securities class action arising out of a $4.5 billion acquisition and the merger consideration paid thereunder, including substantial motion practice before the U.S. District Court, Eastern District of New York, and winning a motion to dismiss and litigation of class certification issues before the Second Circuit. This post-merger securities fraud class action related to the calculation of merger consideration in connection with the post-closing conditions precedent and ultimately was settled for a fraction of the demand in the complaint.
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Experience

  • Plays a key role in the worldwide investigation and asset recovery efforts being conducted by the SIPA Trustee for the benefit of BLMIS  customers with allowed claims. He is a lead attorney in charge of multibillion-dollar lawsuits against feeder funds. Also oversees a number of additional bank and other transfer litigation, as well as cases involving the use of derivatives and other exotic leverage products during Madoff's decades-long Ponzi scheme. In addition, plays a role in the strategic planning for all litigation, coordinating discovery, expert witnesses and settlement negotiations. Has helped achieve several major settlements secured by the SIPA Trustee.
  • Led a Financial Industry Regulatory Authority (FINRA)-regulated broker-dealer client and its parent (and executives) to a successful pre-complaint settlement after receipt of Wells Notices of charges by FINRA arising out of a multimillion-dollar minimum-maximum offering and the breaking of escrow related to it. The matter was resolved with no charges against the individuals.
  • Led a cross-office, cross-discipline team in successfully defending a securities class action arising out of a $4.5 billion acquisition and the merger consideration paid thereunder, including substantial motion practice before the U.S. District Court, Eastern District of New York, and winning a motion to dismiss and litigation of class certification issues before the Second Circuit. This post-merger securities fraud class action related to the calculation of merger consideration in connection with the post-closing conditions precedent and ultimately was settled for a fraction of the demand in the complaint.
  • Representing a global financial services firm in connection with discovery arising out of and in connection with the ongoing Caesars Operating Co. bankruptcy proceedings. 
  • Represented a market-maker in connection with a regulatory investigation and civil class actions seeking upward of $800 million in damages relating to allegations against the company involving false marks for illiquid securities.
  • Represented an investment manager in connection with a Securities and Exchange Commission inquiry into alleged improprieties in supervisory and other trading practices. The client was successfully absolved of any wrongdoing.
  • Represented $1 billion environmental and water rights investment funds in a series of domestic and international commercial litigation, arbitrations and mediations. Provided advice and representation on contract, tortious interference, employment litigation, private equity, bankruptcy and other transactional matters, as necessary. Successfully had dismissed a tortious interference with business relationship claim against a company and its principal.
  • Represented a major owner and commercial real estate developer in construction cross-litigation for errors and omissions against subcontractors and a construction manager. The case was settled for the client for a fraction of the initial demand following aggressive litigation in discovery and mediation efforts demonstrating that the client was not liable for the alleged damages. The client is currently in cross-litigation seeking indemnification and damages.
  • Represented a major media publication in construction litigation brought against a design builder, as well as commercial litigation against equipment and system vendors and a landlord. Obtained settlement recoveries of more than eight figures for the client through demonstrated understanding of issues and diligence.
  • Represented a major accounting firm in a professional malpractice case related to subprime lender audit practices. The case was settled favorably for the client after years of litigation due in part to the executed litigation strategy and key admissions that were elicited during the deposition process.
  • Represented a company and its executives in securities class actions and regulatory investigations arising out of allegations of false financial statements, backdating revenues and other revenue recognition allegations. Successfully resolved the case after years of litigation for a fraction of the initial demand.

Recognitions

  • The Legal 500 United States (2015, 2016)
    • Recommended in Dispute Resolution: Securities litigation – defense
  • New York "Super Lawyer" (2011 to 2016)

Memberships

  • New York State Bar Association
    • Commercial Section
    • Alternative Dispute Resolution Section
    • International Section

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Prior Positions

  • Hogan Hartson (now Hogan Lovells): Partner, Counsel (2004 to 2009)
  • Clifford Chance: Associate (2001 to 2003)
  • Multicast Media LLC: General Counsel and Director of Business Development (2000 to 2001)
  • The Dreyfus Corporation: Associate General Counsel (1998 to 2000)
  • Roger & Wells: Associate (1993 to 1998)
  • Judicial Clerk for the former Senior Judge Joseph L. Longobardi for the Federal District of Delaware (1992 to 1993)

Admissions

  • U.S. District Court, Southern District of New York
  • U.S. District Court, Eastern District of New York
  • U.S. Court of Appeals, Second Circuit
  • New Jersey
  • New York

Education

  • J.D., Brooklyn Law School, 1992, magna cum laude
  • B.A., Vassar College, 1989