Brett D. Stecker, a partner of the firm, has concentrated his practice on representing injured shareholders through securities class actions and derivative litigation since 2006. Mr. Stecker joined Shuman, Glenn & Stecker as a partner in 2019 and previously was a member of a well-known Pennsylvania shareholder rights law firm for over 13 years. Mr. Stecker has served as lead or co-lead counsel in scores of shareholder class and derivative actions in state and federal courts across the U.S., and over the last several years has lectured institutional investors regarding securities litigation and corporate governance.
Highlights of Mr. Stecker’s career include securing a collective recovery of over $100 million, as well as corporate governance reforms, in settlements of matters based on allegations of stock options backdating and other manipulation. While serving as lead counsel in a derivative action brought for the benefit of KeyCorp, Mr. Stecker produced the first-ever settlement based on the failure of a board of directors to amend executive compensation after a majority of voting stockholders rejected the compensation in a non-binding “say on pay” vote. In a derivative action brought for the benefit of Microsoft Corp. following a record fine imposed by the European Union, Mr. Stecker served as co-lead counsel and produced a settlement resulting in the creation of a new Antitrust Compliance Office at Microsoft, with a $42.5 million funding commitment designed to ensure Microsoft’s compliance with antitrust laws and regulations worldwide. And, while serving as lead counsel, Mr. Stecker obtained historic relief in a derivative action after Vitacost.com failed to adhere to certain critical corporate formalities. The relief included “quieting title” to Vitacost’s outstanding shares and deeming Vitacost’s certificate of incorporation valid and effective, thus preserving the equity interests of all Vitacost shareholders and preventing the company from being forced to file for bankruptcy.
Prior to specializing in shareholder rights, Mr. Stecker was associated with two prominent Philadelphia law firms, where he represented Fortune 500 companies as well as large regional financial institutions in various complex commercial litigation matters.
Mr. Stecker graduated from Franklin & Marshall College in 1997 with a B.A. in government, and received his Juris Doctor from the Villanova University School of Law in 2000. While at Villanova University School of Law, Mr. Stecker served as an Executive Member of the Moot Court Board and competed in moot court competitions held at law schools across the U.S.
Mr. Stecker has been a member of both the Pennsylvania and New Jersey state bars since 2000. He is admitted to practice before the Pennsylvania Supreme Court, the United States District Court for the Eastern District of Pennsylvania, and the U.S. Court of Appeals for the Second and Ninth Circuits.
Contact: Brett D. Stecker, Esq.