Securities Litigation Counsel

The Arizona State Retirement System (ASRS) Master Agreement CTR067440 is a specialized Indefinite Delivery Vehicle for Securities Litigation Counsel services. The contract provides comprehensive legal support for monitoring, evaluating, and pursuing domestic and international class action and securities litigation matters. Specifically, the awarded firm, Bernstein Litowitz Berger & Grossmann LLP, will provide legal strategies, case assessments, and litigation recommendations to the ASRS Securities Litigation Oversight Committee. Notably, the services are provided on a contingency basis, with legal fees derived from successful settlement outcomes and capped at 25% of any settlement amount.

The master agreement was awarded to Bernstein Litowitz Berger & Grossmann LLP, a New York City-based law firm, by the Arizona State Retirement System. The contract was initiated on August 29, 2023, with an initial twelve-month term and potential extensions up to five years. The contract covers the state of Arizona and includes comprehensive liability insurance coverage, including $1,000,000 in Commercial General Liability, $1,000,000 in Automobile Liability, $20,000,000 in Umbrella Liability, and additional specialized coverage such as Cyber Liability ($4,000,000 aggregate) and Professional Liability. The current contract period runs through August 28, 2024, with amendment options for subsequent years.